ANZ Application for internet transfer limits

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ANZ Application for internet transfer limits

Postby ricecakes » Mon Nov 13, 2017 1:35 pm

I am a long term existing customer of ANZ ROyal and want to get the account hooked up for international banking when I am back at Xmas so I can repatriate money from Cambodia.

I just spoke to their customer service division about doing this and when I asked about daily transfer limits to overseas accounts the lass advised firstly " it is $1000 a day ) and that if I wanted larger it was up to me to make a request at the branch when i am in there sorting it out. I asked if I could get $10,000 or even $50,000 a day limit for example and she said I would need to explain ( i read that as "justify" ) my needs.

How inquisitive are they ?

I do not have a work contract there so cannot say I am transferring pay.

Has anyone been thought this recently ?
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Re: ANZ Application for internet transfer limits

Postby Khmer_Risotto » Mon Nov 13, 2017 2:02 pm

Transferring anything 10K USD or over you will be running into Anti-Money Laundering regulations. They are going to know where the money came from and what you are doing with it. Worst case scenario is that you are going to have to prove you got the money legitimately.

Good luck!
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Re: ANZ Application for internet transfer limits

Postby gavinmac » Mon Nov 13, 2017 2:09 pm

ricecakes wrote:when I am back at Xmas


I'll be back too can we hang out?

I asked if I could get $10,000 or even $50,000 a day limit for example


Baller.

Do they charge by the transfer or something, is that why transferring $1,000 every day is not ideal?
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Re: ANZ Application for internet transfer limits

Postby ricecakes » Mon Nov 13, 2017 2:35 pm

Khmer_Risotto wrote:Transferring anything 10K USD or over you will be running into Anti-Money Laundering regulations. They are going to know where the money came from and what you are doing with it. Worst case scenario is that you are going to have to prove you got the money legitimately.

Good luck!


OK then I will do $9,999 8-)

Gav

The lass said ANZ charge $35 for up to $10k transfer. Do not know if that is the same for $1k.

Irrespective of the fees, i do not want to have to be getting on the internet banking site every day for X days to get desired amounts home.

A Xmas beer would good I will pm you.

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Re: ANZ Application for internet transfer limits

Postby Barang_doa_slae » Mon Nov 13, 2017 2:53 pm

Not much to explain if you transfer from accounts bearing the same name.
Over the past decade I have done and still do inbound/outbound transfers well over this 10k limit with no questions asked or easily dismissed as silly.

Ps/edit: not with ANZ Royal of course as I always was wary of them.
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ANZ Application for internet transfer limits

Postby ricecakes » Mon Nov 13, 2017 3:50 pm

Barang_doa_slae wrote:Not much to explain if you transfer from accounts bearing the same name.
Over the past decade I have done and still do inbound/outbound transfers well over this 10k limit with no questions asked or easily dismissed as silly.

Ps/edit: not with ANZ Royal of course as I always was wary of them.
Same names on account.

I'd like to escape ANZ if possible

I think I'll go equipped with an ABA internet pre/application per the previous thread that I started.



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Re: ANZ Application for internet transfer limits

Postby gavinmac » Mon Nov 13, 2017 3:55 pm

In the USA we can do transfers from American bank to American brokerage accounts in our names and vice versa all the time, called electronic transfers or ACH, never a fee.
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Re: ANZ Application for internet transfer limits

Postby Spigzy » Mon Nov 13, 2017 10:46 pm

ricecakes wrote:The lass said ANZ charge $35 for up to $10k transfer. Do not know if that is the same for $1k.


It is - and you'll get hammered on the exchange rate also; if shifting large volumes of cash you probably want to find another way of doing via some of these internet money transfer companies like WorldRemit, etc. Shop around first though (sorry can't recall their competition, just Google it :D ) for big sums don't worry so much about the peanuts fees shown, the exchange rate will be the killer.
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Re: ANZ Application for internet transfer limits

Postby Barang_doa_slae » Mon Nov 13, 2017 11:01 pm

Very true but since I don’t really trust these FX companies the best imo is to open and transfer to/from a US currency account and arrange a good exchange rate with that foreign bank.
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