Receive payouts via local wire transfer in AUD (Australia)
Overview
Local wire transfer in AUD is a transfer of funds between banks in Australia in the local currency, AUD. This method is valued for its reliability, convenience, and speed, as it provides a direct transfer from one bank account to another within the country.
Supported currencies
- Australian dollar (AUD)
📌 If the currency of your balance in Smartcat is different from AUD, the funds are converted to AUD at the Smartcat exchange rate on the day of the payment.
Commission
2.5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.
You can view a list of companies that are reimbursing your commission in the My Payouts section (click the Details button on your payout method).
Minimum payout amount
15 AUD
Smartcat allows setting the minimum amount, starting from which the payment is sent to you. You can learn more in the article Minimum payout amount.
Required details
| Field | Individual | Company | Description |
|---|---|---|---|
| Beneficiary type | ✓ | ✓ | Individual or company beneficiary |
| Beneficiary first name | ✓ | ✕ | Name of the individual beneficiary |
| Beneficiary last name | ✓ | ✕ | Last name of the individual beneficiary |
| Birth date | ✓ | ✕ | Beneficiary's birth date |
| Beneficiary company name | ✕ | ✓ | Beneficiary's company legal name |
| Recipient's country | ✓ | ✓ | Beneficiary's country |
| Recipient's city of residence | ✓ | ✓ | City or town from the beneficiary's address |
| Recipient's address | ✓ | ✓ | Beneficiary's address, including building number or name |
| Recipient's postal code | ✓ | ✓ | Beneficiary's postal code |
| Account number | ✓ | ✓ | Beneficiary's bank account number, 5 to 20 characters long |
| BSB | ✓ | ✓ | Six-digit beneficiary's bank code (no spaces or other characters) |
Advantages
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Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer
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Speed. Payouts are processed up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side
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Funds are received immediately in the local currency. You do not spend money on additional conversions and can immediately use the money in your country
FAQs
I chose this method, but the payment was rejected. Why?
Act as follows:
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Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)
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Make sure that the postal code, city, street, and house number are specified in the corresponding fields of the details. Make sure that you do not enter a PO box or email address instead of your residential address
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Check that the account number, bank name, branch (only digits are allowed), SWIFT, and account type are correct
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Make sure that the name of the account holder is entered in the details exactly as it is in the bank details, including all spaces and symbols
If the details you provided are correct, contact your bank branch to find out the reason for the rejection of the payment on the bank's side.
I cannot find the payment. What does the payment look like on the bank statement?
If you cannot find the payment, check your account statement for the following transactions:
As a reference, the payment ID can be specified in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.
SMARTCAT EUROPE BV, AIRWALLEX, or Banking Circle SA is displayed as the sender, depending on the receiving bank.
For which countries is this method available?
The method is available exclusively for receiving funds to an Australian bank account.
I received a payment. What details should be used for billing?
When receiving funds by local bank transfer in AUD, enter the following Smartcat details in your account:
Full name: Smartcat Europe BV
Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands
VAT no.: NL859832880B01
Still need help?
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