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

Fee structure

Westpac charges a flat fee for outgoing international transfers through its online banking platform (Westpac). In-branch transfers attract a higher fee. The exchange rate margin is typically 2–5% above mid-market, consistent with the other Big Four banks.

The total cost (flat fee plus margin) makes Westpac comparable to its Big Four peers but more expensive than specialist providers for most corridors and amounts.

Trans-Tasman relationship

Westpac's ownership of Westpac New Zealand provides a direct banking relationship across the Tasman. Transfers between Westpac Australia and Westpac NZ may benefit from faster processing compared to transfers between unrelated banks, though the exchange rate margin still applies.

For AUD-NZD transfers, specialist providers typically offer tighter spreads than Westpac despite the group relationship.

How to send

Through Westpac Online Banking, provide the recipient's details, SWIFT code, amount, and purpose. Westpac displays the exchange rate and total fees before you confirm. Transfers are processed via SWIFT and take one to five business days.

Westpac also supports international transfers through its business banking platforms for commercial customers.

Currency converter tool

Westpac offers an online currency converter that shows indicative exchange rates. These rates are updated periodically but may not reflect the exact rate available at the time of transfer. Use the converter as a guide, and check the actual rate within the transfer flow before confirming.

Comparison with specialist providers

Westpac's total cost for international transfers is higher than Wise, OFX, and other specialist providers. On a AUD 5,000 transfer, the difference is typically AUD 80–200. The gap increases proportionally with larger amounts.

Westpac's value is in the convenience of using your existing bank for all financial needs. For customers who rarely make international transfers and prefer the simplicity of using one institution, the cost premium may be acceptable. For regular or large transfers, setting up a Wise or OFX account alongside your Westpac account is a practical approach.

What is Westpac's SWIFT code?

Westpac's SWIFT/BIC code is WPACAU2S.

How long does a Westpac international transfer take?

One to five business days for most corridors. Transfers within the Westpac group (to Westpac NZ) may be faster.

Does Westpac charge for receiving international transfers?

It depends on your account type. Check your account's fee schedule or contact Westpac directly.

Can I send money through the Westpac app?

Yes. Westpac's mobile app supports international transfers with the same fee structure as online banking.

Is Westpac competitive for NZD transfers?

While Westpac's NZ group relationship may speed up processing, the exchange rate margin is still wider than specialist providers. For AUD-NZD transfers, compare Westpac's delivered NZD amount against Wise or OFX before committing.