Compare BAWAG bank euro currency transfer options to/from Austria. You can beat BAWAG bank euro exchange rates when making an international money transfer or overseas payment, save time, money and get the best deal.
International currency transfers to or from your BAWAG bank account in the euro, UK pounds, US dollars and many other popular currencies will involve a margin or exchange rate of around 3.1% and additional bank transaction or commission fees may apply.
BAWAG international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Sending foreign currency to or from your Bawag bank account in Austria 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 euros (EUR) using Bawag services would have a transaction exchange rate margin of around 3.1% – or 3,100 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Bawag could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Bawag bank account holder to use their services. Bawag 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 euro.
Unless you pay a premium, Bawag 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.
Bawag (previously Bawag PSK) is a postal savings bank owned by the Austrian Mail service. It was founded in 1883 and is now one of Austria’s largest banks with about 2 million customers. Bawag has over 500 local banking branches and customers can also get banking services at over 1,300 post offices across Austria. Bawag is 52% owned by Cerberus Capital Management LP and 40% by GoldenTree Asset Management LP.
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Find Bawag 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 Bawag branches in your search area results.
You can find answers to everyday banking questions at Bawag online. If you can’t find the answer you’re looking for, you can call them from outside Austria on +435 990 5995
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Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers