ANZ international transfer: Fees, time and rates

Considering making an ANZ international transfer? This guide tells you all you need to know about transfer costs, delivery times, and how to get started.

ANZ (the Australia and New Zealand Banking Group) is the second largest bank in Australia, and a major player in regional financial services. But that doesn’t necessarily mean it’s the best choice for sending an international payment.

To help you get the best available deal for your payment, we’ll also introduce how specialist providers like Wise or Western Union may be able to  move your money faster and for a lower overall fee.

Go to Wise Go to Western Union

ANZ international money transfer comparison

Sending money overseas can mean you run into several different fees:

  • Your own bank’s transfer fee – this may be free or the lowest of the costs involved in sending money overseas
  • Exchange rate markup – a percentage fee added to the exchange rate used, which can often be the highest of the 3 fees overall
  • Third party charges  – paid to intermediaries and your recipient’s own bank – you may not know in advance what these fees will be

To kick off, let’s look at the costs of sending 1,000 AUD to a friend in the UK with ANZ compared to a couple of specialist services:

Provider Total fee Recipient gets in the end
ANZ 9 AUD + exchange rate markup 511.66 GBP
Wise 5.14 AUD 530.26 GBP
Western Union 0 transfer fee + exchange rate markup 527.05 GBP
OFX 15 AUD + exchange rate markup 517.56 GBP
  • Data correct at time of research – 24 February 2022

ANZ’s transfer fee is only 9 AUD. However, in our comparison your recipient would get much less when you send your payment with ANZ compared to a specialist provider. That’s because the transfer fee is only part of the story. The highest fee most banks charge is actually in the exchange rate.

Bank exchange rates usually include a markup. That’s an extra fee added onto the mid-market rate you might find on Google. This markup can quickly become the most costly of all the fees you pay to send money overseas. It may only be around  3%, but that’s an extra 150 AUD fee on a transfer worth 5,000 AUD.

Specialist providers can often offer lower overall fees, and a better exchange rate compared to banks. Because international money transfers are their core business, getting set up and using the platforms is usually straightforward, too.

ANZ international transfer fees

We mentioned that whenever yo u arrange an international transfer with your bank or any other provider, there are 3 common fees to check out. We’ll unpack these fees one by one in a moment, and look at how they really stack up.

First let’s take a look at the transfer fees typically involved in sending and receiving international payments with ANZ. Click here to read how ANZ compares to other banks for international money transfers

Service type ANZ fee
Incoming international payment
  • Up to 15 AUD
  • Fee may be waived for a deposit of under 300 AUD
Send international payment in a foreign currency, online or by phone to Cook Islands, Fiji, French Polynesia, Kiribati, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor Leste, Tonga and Vanuatu
  • Sent in foreign currency from AUD account – no fee
  • Sent in AUD, or sent from a foreign currency account – 7 AUD transfer fee
Send international payment in a foreign currency, online or by phone (rest of world)
  • Transfer value under 10,000 AUD – 9 AUD transfer fee
  • Transfer fee waived for transfers over 10,000 AUD in value
  • Payments funded with an ANZ credit card may incur extra fees
Send AUD international payment
  • Send online – 18 AUD
  • Send by phone – 32 AUD
  • Payments funded with an ANZ credit card may incur extra fees

ANZ exchange rate

When you log into your ANZ account online you’ll be able to see the ANZ exchange rate by selecting the Get Rate option. This will also give you an estimate of other fees you may pay like correspondent fees – more on those in a moment – and what your recipient will get in the end.

ANZ exchange rates are likely to include a markup – also known as a margin – on the mid-market exchange rate. That means you won’t usually get the same rate you find online with a Google search, or using a currency converter tool.

Many banks and international money transfer services add a margin when they calculate customer exchange rates. However, that can make it tricky to see exactly what you’re paying, and can push up the costs of your transfer too.

Exchange rate margins from banks may be in the region of about 3%. Here’s how the exchange rate markup would stack up with a 3% margin used for different transfer values:

  • Sending 1,000 AUD – the exchange rate markup adds 30 AUD to the total
  • Sending 5,000 AUD– the exchange rate markup adds 150 AUD to the total
  • Sending 50,000 AUD – the exchange rate markup adds 1,500 AUD to the total

Here’s a reminder of the total costs – including exchange rate markups – from the providers we looked at earlier. This is what you’ll pay with each when sending 1,000 AUD to a friend in the UK:

  • ANZ: 9 AUD transfer fee + exchange rate margin
  • Wise: 5.14 AUD (no exchange rate margin applies)
  • Western Union: 0 transfer fee + exchange rate margin
  • OFX: 15 AUD transfer fee + exchange rate margin

ANZ additional fees

ANZ international payments are likely to be processed using the SWIFT network. In this system, several banks – known as correspondent banks – work together to move money from one account to another. Each correspondent bank can charge a fee for their service, which is deducted as they process the payment and pass it along on the way to the destination account.

ANZ will cover the correspondent bank costs on some currency routes, including:

  • USD to all countries
  • GBP to United Kingdom
  • NZD to New Zealand
  • INR to India
  • EUR to all countries
  • Payments in some currencies, to some countries in the Pacific

That means that if you’re sending money to these countries and currencies there should not be any correspondent bank charges to worry about. However, on other payment routes these fees may apply which can mean your recipient gets less than you were expecting in the end.

How long does a ANZ international money transfer take

ANZ transfers are usually received in 2 – 4 business days. The exact length of time taken will depend on when ANZ gets your payment instruction, and whether there are third party banks involved in processing the transfer.

Here’s a reminder of how that measures up against the specialist providers we looked at earlier:

  • ANZ: 2 – 4 business days
  • Wise: 80% of the payments arrive in 24 hours
  • Western Union: Up to 2 days
  • OFX: 1 – 2 business days

Pros and cons of transferring money abroad with ANZ


  • Familiar and safe option
  • ANZ will cover correspondent costs on some currency routes
  • Relatively low upfront transfer fee for online payments


  • Exchange rate margins are likely to apply which push up costs
  • Delivery times are not the fastest available
  • Correspondent charges also apply on many currency routes

The international transfer service from ANZ may be familiar and safe but it’s probably not the cheapest option overall. For many payments you’ll be faced with a transfer fee, plus potential exchange rate margins and third party fees, which can add up quickly. Compare a few specialist providers before you arrange your payment to make sure you get the best available deal.

How to make an international transfer with ANZ

You can send an ANZ international transfer most easily online or by phone. The service isn’t available on the ANZ mobile app just yet. Here’s what you need to do to make your transfer online with ANZ:

  1. Log in to your ANZ online banking account
  2. Select Payments and then International services
  3. Register and agree to the service terms and conditions
  4. Select Transfer funds overseas
  5. Choose the account you want to pay from
  6. Choose an existing payee or add a new payee
  7. Enter the payment details including the amount, currency and your recipient’s bank account information
  8. Follow the prompts to confirm your payment.

What information do you need to make an international transfer with ANZ?

When you make your ANZ international transfer you’ll need to give some information about your recipient to make sure the money arrives safely:

  • Your recipient’s name and address
  • Your recipient’s bank account number or IBAN
  • Your recipient’s SWIFT/BIC code
  • Name and address of the receiving bank

Transfer limits and available countries

The limits to send money overseas through ANZ online banking are the same as your Pay Anyone limits. These are between 1,000 AUD and 10,000 AUD a day depending on how your account has been set up. You can send more by using phone banking if you prefer to.

You can send payments to 99 countries around the world with ANZ.

Receiving money from abroad with ANZ

There’s a fee of up to 15 AUD when you receive a payment from abroad to your ANZ account.

To make sure your payment arrives safely and with no delays, you’ll need to give the sender the following information:

  • Your name as shown on your account
  • Your ANZ account number
  • Your ANZ branch address
  • The ANZ SWIFT code

Depending on where the payment is being sent from you might also need a few other details – your sender will be able to confirm what is required when they arrange the payment.


We mentioned earlier that ANZ payments are usually processed using the SWIFT network. To make sure this network functions properly you’ll need to give the sender of your payment the ANZ SWIFT code – also known as a SWIFT/BIC code.

SWIFT codes are unique bank identifiers used in international transfers, to make sure payments aren’t delayed, returned, or deposited in the wrong account by mistake.



Sending money overseas with your regular bank might seem like an obvious choice. However, even major Australian banks tend to have international payment services which are slower and more expensive than specialist alternatives. That means you might save – and get your money where it needs to be faster – by ditching your normal bank and using an alternative provider.

Specialist services can often offer lower overall fees and better exchange rates than banks – saving you money and meaning your recipient gets more in the end.

Compare money transfer providers


How much does an ANZ international transfer cost?

Sending an ANZ international transfer online costs 9 AUD if your payment is under 10,000 AUD in value. Third party fees may also apply.

How long does an ANZ international money transfer take?

ANZ international transfers arrive in 2 – 4 business days.

How to transfer money internationally with ANZ?

Send an ANZ international money transfer online or by phone. Online payments have lower transfer fees compared to most phone transfers.

Claire Millard
Fintech copy and content writer
Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.
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Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
November 13th, 2023