WESTPAC BANK AUD vs GBP/EUR EXCHANGE RATES
Compare Westpac Bank AUD currency transfer options to/from Australia. You can beat Westpac Bank exchange rates when making an Australian dollar money transfer or overseas payment, save time, money and get the best deal.
| Westpac Bank | AUD to GBP | AUD to EUR | Minimum Transfer + Fee | TrustScore (Trustpilot) | More Details |
|---|---|---|---|---|---|
| Currencies Direct | £0.512 to £0.514 | €0.598 to €0.6 |  |  | |
| TorFX | £0.514 | €0.6 |  | | |
| Wise | £0.514 to £0.515 | €0.601 to €0.601 |  | | |
| Westpac Bank | £0.495 | €0.578 | |  |  |
About TrustScores: A TrustScore is calculated on a scale from 1 to 5 and is the overall measurement of reviewer satisfaction, based on all reviews the business receives via Trustpilot’s website.
About transaction fees: The transaction (or service) fee that banks and providers charge is made up of a fixed fee which varies, depending on where you are sending the money and which currencies apply to the transaction.
About money transfer providers: Unlike banks, money transfer companies offer the very best exchange rates and by keeping their margin rates low, they beat the banks by several percentage points.
About exchange rates: Money transfer exchange rates are calculated and updated weekdays, hourly 08:00 – 16:00. The exchange rates provided are indicative only and several factors may contribute to the final rate, including market conditions, transfer amount and the mode of transfer (online or via phone/email).
Westpac Bank International Money Transfers
International currency transfers to or from your Westpac bank account in Australian dollars, UK pounds, the euro, US dollars and many other popular currencies will involve a margin or exchange rate of around 4.3% and additional bank transaction or commission fees may apply.
Westpac bank international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Currency Transfer Alternatives – Westpac Bank
Sending foreign currency to or from your Westpac Bank account in Australia needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of $100,000 Australian dollars (AUD) using Westpac Bank services would have a transaction exchange rate margin of around 4.3% – or $4,300 AUD. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only S700 AUD in total, which is a large saving over the bank service.
Westpac Bank – Other Useful Information
International money transfers from Westpac Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Westpac Bank account holder to use their services. Westpac Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of $5000.
Unless you pay a premium, Westpac Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Westpac Bank, Australia – About
Westpac Banking Corporation (also know as WBC) was created in 1817 in Australia and servers local customers in over 1200 banking branch locations. Westpac Bank is also popular in New Zealand and the near Pacific region and the bank also has international branches in London, New York, Hong Kong and Singapore.
Westpac Bank branch finder
Find Westpac Bank branch addresses near you with our geolocation map search. Simply enter the bank name (and optionally a city or country) and the map will display the closest Westpac branches in your search area results.
Contact Westpac Bank from abroad
You can find answers to everyday banking questions at Westpac online. If you can’t find the answer you’re looking for, you can call them from outside Australia on +61 2 9155 7700
Westpac Bank – Head office address
Westpac Bank – 275 Kent Street, Sydney, NSW 2000, Australia
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers
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