Itg Australia Limited SWIFT/BIC code

ITGAAU31 – the SWIFT/BIC code of Itg Australia Limited

ITGAAU31 and ITGAAU31XXX are two spellings of the same SWIFT/BIC code, and both point to Itg Australia Limited in Melbourne. Every bank on the SWIFT network uses BIC codes to route international transfers to the right bank. In practice you mostly see it on international invoices, in your banking app and in the bank details that Itg Australia Limited provides.

Below we go through the practical questions: receiving money at Itg Australia Limited, sending money abroad and how to check a SWIFT code before you hit send. Remember that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

Before you send: check the Itg Australia Limited code

The most reliable source for a SWIFT code is the bank details provided by the recipient. If the code you have differs from ITGAAU31 or ITGAAU31XXX, stop and ask.

Mistakes in the SWIFT code tend to be annoying rather than fatal: often the payment comes back, minus fees. Remember the IBAN: an error there is harder to undo than a wrong BIC.

Most online banking apps validate the structure of IBANs, but that does not prove the account belongs to the right person. Some banks now compare the payee name with the account; take any warning seriously. A small test payment can be worth it for large sums.

ITGAAU31 or ITGAAU31XXX – which one to use?

The layout of every SWIFT code never changes: four characters for the institution, a two-letter country code and a two-character location code. That gives you ITGAAU31, the short form of the code.

Many banks and apps accept both lengths. If yours asks for eleven characters, use ITGAAU31XXX; if it wants eight, use ITGAAU31.

Type the code in one piece, in capitals and without spaces, exactly as shown here. Copying the code is safer than retyping it: a typo can point to another bank.

The Australian Dollar and what conversion costs you

Australia pays in the Australian Dollar, with the currency code AUD. Money sent in a different currency will be converted into AUD before it reaches the account – and the bank that does it picks the rate. There is rarely a separate line for that conversion.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. Check what AUD the recipient gets via several services before choosing one.

Rates for AUD move during the day. With bigger transfers, even small gap in the rate adds up quickly.

Tracking a transfer to or from Itg Australia Limited

How fast a transfer reaches Itg Australia Limited is determined by several factors: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Weekends and public holidays in the sending or receiving country can add extra days. Occasionally a bank wants to know what the payment is for, which can hold things up.

If the money seems delayed, contact your bank for the status and the transaction reference so they can trace it along the chain. Specialist transfer services usually show tracking in their app so you can see how far the money is.

Only the sending bank is able to request a trace. On the receiving end, you can check your statements for a partial amount because fees can reduce the amount.

International transfers from Itg Australia Limited: the real cost

What you pay for a payment abroad has several parts. You pay the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, most importantly, the margin on the exchange rate when the money is converted.

The markup on the rate is often the largest cost even though it is not listed as a fee. Check the rate you are offered against the mid-market rate; the gap is what conversion costs you.

Money transfer services often use a rate near the mid-market rate. GoldexPay compares these services side by side so you can see the amount the recipient gets. You can still use your account at Itg Australia Limited; only the conversion and sending happen elsewhere.

Watch out for payment fraud

Scammers regularly use fake invoices with new bank details, sometimes in an email that looks completely genuine. The fact that ITGAAU31 exists is no guarantee that a request mentioning it is genuine – fraudsters use real bank codes as well.

Never rely on contact details in the same message that announces the new account. Watch out for time pressure, odd spelling or a sender address that is slightly off. Already paid? Call the bank you paid from straight away and ask them to start a recall and report the fraud.

Fraud can also work the other way. Someone sends more than agreed and asks you to refund the difference via a different route. A screenshot of a transfer is no proof – check your own account.

How up to date is this code?

The details on this page come from public sources. Even so, banks merge or retire codes. The number of codes we show are based on our own data.

Before a payment of any size, confirm the BIC with Itg Australia Limited or with the recipient. GoldexPay is an independent comparison site and not part of Itg Australia Limited. If you notice something that is out of date, we welcome a message via the contact page.

Which of the 2 codes of Itg Australia Limited do you need?

Our database contains 2 SWIFT/BIC codes for Itg Australia Limited in 2 places. Besides the head office code ITGAAU31XXX, there are codes for regional offices and specialised units.

For the vast majority of payments to a private or business account, the head office code ITGAAU31XXX is what you need. Branch codes are only needed when the recipient’s bank specifically mentions it.

If you are not sure, ask the person you are paying which code their bank gave them. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

What to give a sender who pays you at Itg Australia Limited

To receive a transfer from abroad at Itg Australia Limited, the sender has to have more than the SWIFT code. What they need is: the account holder’s name, IBAN or account number, ITGAAU31XXX or ITGAAU31 and often your postal address.

Their bank might request the address of your bank, in which case the Melbourne head office is the usual answer. A mistake in the IBAN is more trouble than it looks; copy them from your banking app rather than typing.

Money from abroad will not always arrive in full. Fees for incoming transfers vary from bank to bank – the price list of Itg Australia Limited tells you what applies. Make clear with the sender who covers the fees.