ANZ international transfers: fees, exchange rates, and how it works

Fee structure

ANZ charges a flat fee for outgoing international transfers. The fee varies depending on the channel: online transfers through ANZ Internet Banking or the ANZ App are typically cheaper than in-branch transfers (ANZ). The fee schedule is published on ANZ's fees and charges page.

The exchange rate margin follows the same pattern as other Big Four banks — typically 2–5% above mid-market depending on the currency and amount. ANZ does not publish the exact margin, but you can see the rate offered before confirming any transfer.

Incoming international transfers may attract a receiving fee depending on your account type. Intermediary bank fees may be deducted from SWIFT transfers in transit.

Trans-Tasman advantage

ANZ operates both ANZ Australia and ANZ New Zealand. For AUD-NZD transfers, this group relationship may provide slightly faster processing and potentially reduced intermediary fees compared to transfers between unrelated banks. However, the exchange rate margin still applies, and specialist providers typically offer tighter AUD-NZD spreads.

ANZ also has operations in several Pacific Island nations (Fiji, Papua New Guinea, Samoa, Tonga), which may provide more direct transfer channels to these destinations compared to banks without a Pacific presence.

How to send

Through ANZ Internet Banking or the ANZ App, provide the recipient's details, the amount, and the destination currency. ANZ displays the exchange rate and total fee before confirmation. Transfers are processed via SWIFT and typically take one to five business days.

Comparison with specialist providers

For most corridors, ANZ's total cost (flat fee plus exchange rate margin) is significantly higher than specialist providers. On a AUD 5,000 transfer, the difference is typically AUD 80–200 compared to Wise or OFX. The gap increases with larger amounts.

ANZ's advantage is convenience for existing customers and potentially faster processing for trans-Tasman and Pacific transfers where ANZ has local operations.

Does ANZ charge a fee for receiving international transfers?

It depends on your account type. Some ANZ accounts absorb the incoming transfer fee; others charge it. Check your account's fee schedule.

What is ANZ's SWIFT code?

ANZ Australia's SWIFT/BIC code is ANZBAU3M. For ANZ New Zealand, it is ANZBNZ22.

How long does an ANZ international transfer take?

One to five business days for most corridors. Trans-Tasman transfers (to ANZ NZ) may be faster.

Is ANZ cheaper than CBA for international transfers?

The cost is broadly comparable. Both charge a flat fee plus an exchange rate margin. The specific cost depends on the corridor and amount. Compare the total delivered amount rather than the flat fee alone.

Can I set up recurring international transfers with ANZ?

ANZ Internet Banking supports scheduled transfers, including recurring international payments. Each transfer uses the exchange rate at the time of execution.