How are cheques still a thing? Another example of systemic inertia -- just like it took 20 years for the internet to finally kill the (paper) yellow pages.

Wait until they realise (accept?) there is an open public network that allows for near instant final settlement, is globally interoperable, vastly more secure and accessible for a fraction of the cost...

@strawman the opening for BTC as a solution was too good to pass.

Feels like a wave of disruption is set to come through and we wont know ourselves....

Or you could just send money via PayPal?

Try using Wise. Best and cheapest way to transfer funds internationally.

https://wise.com/au/

I just paid US$15k for a holiday via a US travel agency in US dollars into their US bank account. Via Westpac it was going to cost $600 in fees. Via Wise it cost $67. And I got a better exchange rate.

Also if you use my link below I think I get some cash! And you get free transaction!

https://wise.com/invite/dic/johnp109

Also a happy Wise user @Parko5

Way better and cheaper than the banks or Western Union etc to exchange currency in my experience.

@Strawman Things move more slowly in Adelaide. I couldn't believe it when these started showing up on our doorstep after we moved here from Melbourne a couple of years ago. Still waiting on this year's one --- how else am I going to find a hair dresser, or a mechanic?

Morgan Stanley USA branches will only allow wire transfers to US bank accounts. They will not do international wire transfers.

And there is no option as well from what I remember

Looks like the same with Etrade USA as well.

I'll have to find a way to get a US bank account. Not sure if opening a USD bank account here will work.

Or just hope there will be a process to do a interbank transfer soon

Thanks for the tip I have my Nephew’s 18th birthday coming up next month and he lives in the US- I want to send him some money. I might give Wise a go.

If you open a PayPal account you can connect it to your Australian bank. My mum used to send me cheques from Canada and they stopped accepting them here. We've been using PayPal since, it's pretty simple and quick. You can transfer money from PayPal to your bank for free in around 24-48 hours or pay $10 for instant transfer.

Thats gold!

PayPal and Wise are a great solution for individuals (who are banked), but can't act as non-gated institutional payment rails.

Also, what the hell @AbelianGrape! Do they still use horse and buggy in Adelaide too ;)

(I joke of course. Lots of love for Adelaide. We're even half thinking of making the move there.)

I have a son in Seattle and a daughter in Auckland. I use OFX for transfers. They charge a flat fee of AUD $15 plus their exchange rate. They give you a quote when you lodge the transfer, then you transfer the money into their AU holding account, and Bob’s your uncle! It’s great for large sums, not so efficient for small amounts. https://www.ofx.com