Australian Settlements Limited SWIFT/BIC code

ASLLAU2C – the SWIFT/BIC code of Australian Settlements Limited

If an invoice shows ASLLAU2C or ASLLAU2CXXX, you are looking at the identical address for Australian Settlements Limited in Australia. A BIC has a single purpose: it makes sure that an international payment reaches the right bank. In practice you mostly come across the code on invoices from abroad, in your banking app and in the bank details of Australian Settlements Limited customers.

On this page we explain what the code is put together, when it matters and what else you need for a transfer to or from Australian Settlements Limited. Remember that the BIC just identifies the bank, not the account: the IBAN or account number does that part.

Watch out for payment fraud

Stay alert if a contact suddenly wants you to pay into a different account abroad. The fact that ASLLAU2C exists is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Do not rely on a phone number in the same message that contains the new account. Pressure and secrecy tend to be red flags. If money has already gone to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

People receiving money can be targeted as well: a classic trick is an overpayment and then sends a request to refund the difference to another account. Wait until the money has really arrived – ask Australian Settlements Limited if something looks wrong.

Transfer times and tracking a payment to Australian Settlements Limited

A SWIFT payment usually needs one to a few business days – it depends on currency, route and the banks in between. Bank holidays in either country can add extra days. Occasionally a bank wants to know what the payment is for.

If the money is late, contact the sending bank for the status and the transaction reference. Money transfer services usually provide tracking in their app so you can see where the money is.

A missing payment is traced from the sending side, using the payment confirmation. On the receiving end, you can check your statements to see a slightly lower amount because fees can reduce the amount.

Receiving money from abroad at Australian Settlements Limited

A sender in another country needs a few details from you. What they need is: the account holder’s name, account number or IBAN, ASLLAU2CXXX and in many cases your home address.

Some sending banks also ask for the bank’s address in Canberra; it does no harm to include it. Double-check each detail before you send them.

The amount you receive can be lower than the amount sent. Correspondent banks can take a fee, Australian Settlements Limited may charge for incoming payments, and if the money is converted, a markup on the rate comes on top. For business payments, it is common to state who bears the costs.

Australian Settlements Limited: head office code versus branch codes

With 13 codes, Australian Settlements Limited is one of the banks that use individual codes for parts of the organisation and departments. The main code remains ASLLAU2CXXX.

If nobody asks you for a branch code, use ASLLAU2CXXX or its short form ASLLAU2C. Just use a branch code when the account holder explicitly asks for it, for example on a letter or invoice.

Unsure which code applies? Check with the recipient. Codes for branches are more likely to be retired than ASLLAU2CXXX.

Verifying the SWIFT code of Australian Settlements Limited

Ask the recipient to copy their account details straight from their online banking. Compare that code against ASLLAU2C on this page.

Mistakes in the SWIFT code tend to be costly rather than disastrous – usually the money comes back, minus fees and time lost. Do not forget the account number: a mistake there is harder to undo than a wrong BIC.

An automatic check by your bank merely tells you that the code is valid. If your bank offers it, a payee name check on the recipient adds extra certainty. For a first payment, many people start with a small amount first and wait for confirmation.

A note on our data

The codes here come from publicly available data. Even so, banks merge or retire codes and our data may lag behind. Counts and locations come from our directory and may differ from what Australian Settlements Limited publishes.

Treat this page as a reference, not as the final word – the bank details from the recipient are leading. GoldexPay is a comparison site for money transfers and not affiliated with Australian Settlements Limited. Should you notice something that is out of date, we welcome a message via the contact page.

Paying into Australian Settlements Limited in AUD

Australia uses the Australian Dollar, code AUD. A payment in a foreign currency is converted into AUD before it reaches the account – and the bank that does it picks the rate. There is rarely a separate charge for the conversion.

Who does the conversion has an effect on the final amount, since every bank sets its own rate. In many cases you pay less to send AUD straight away via a provider with a good rate.

Exchange rates change during the day – some services let you fix a rate in advance. For regular payments, small differences in the rate add up over a year.

Paying someone abroad from your Australian Settlements Limited account

What you pay for a payment abroad is made up of several parts – not just the fee on your screen. You pay the transfer fee, possibly fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate when the money is converted.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. An easy check: set the bank’s rate against the mid-market rate and work out the difference on your amount.

For many currency pairs, a transfer service turns out to be less expensive than a bank – mostly thanks to the rate. Next time you send money, it is worth to compare the total cost on GoldexPay. Choosing a specialist does not require leaving Australian Settlements Limited.

What the XXX in ASLLAU2CXXX means

The structure of every SWIFT code is always the same: four characters for the institution, two for the country and two for the location, plus an optional branch code. Combined, those parts form ASLLAU2C, the code most people search for.

Most banks and apps accept either length. If yours requires eleven characters, enter ASLLAU2CXXX; if it wants eight, use ASLLAU2C.

Enter the code as one block, in capitals and without spaces. A single letter can send the money to a different institution, so check it twice.