Bendigo Bank international transfer: Fees and exchange rate

This article will cover everything you need to know about Bendigo Bank international transfers including: how much sending money overseas costs, how long it takes to arrive, and how to make your first Bendigo Bank international bank transfer.

Bendigo Bank is one of Australia’s biggest banks, with over 500 locations Australia-wide. But that doesn’t necessarily mean it’s the best choice for sending an international payment.

Alternative specialist providers like Wise, OFX and Western Union may be able to get your money where it needs to be faster and for a lower overall fee.

Compare international money transfer providers

Bendigo international money transfer comparison

We’ll dive into all of the details in just a moment – first a comparison of Bendigo Bank against a couple of specialist providers.

It helps to know that the full cost of sending an international wire transfer can include several different fees:

  • Your own bank’s transfer fee – this is often the lowest of the costs you’ll pay
  • Exchange rate markup this is 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

Here’s how the costs stack up if we are sending 1,000 AUD to a friend in the UK:

Provider Total fee Recipient gets in the end
Bendigo Bank 30 AUD + exchange rate markup + third party charges Contact your local Bendigo Bank to get a quote
Wise 5.14 AUD 523.29 GBP
Western Union 0 transfer fee + exchange rate markup 522.58 GBP
OFX 15 AUD + exchange rate markup 510.79 GBP
  • Data correct at time of research – 11 February 2022

Bendigo Bank’s transfer fee – at 30 AUD – is already higher than the transfer fee offered by alternative providers. However, where the costs really tend to shoot up with traditional bank international payments is in the exchange rate.

Traditional banks typically include a markup on the exchange rate they use. This might be in the region of 3%. It doesn’t sound like much, but that’s an extra 150 AUD fee on a transfer worth 5,000 AUD. You’ll also often find you pay intermediary and third party charges, too – more on both of these fees coming up in a moment.

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.

Bendigo Bank international transfer fees

As we’ve noted, international transfers can involve several different fees:

  • Bendigo bank’s transfer fee 
  • Exchange rate markup 
  • Third party charges  

It’s highly likely that you’ll run into all 3 of these fees when you make a payment with Bendigo Bank.

This guide will walk through each cost in turn. Let’s start, though, with the Bendigo Bank upfront transfer costs. These are clearly set out and easy to understand. They’re also often the lowest of the 3 charges you’ll need to cover:

Service Bendigo Bank fee
Send an international payment
  • 30 AUD
Receive an international payment
  • 2 AUD if the payment is sent in AUD
  • 10 AUD if the payment is in a foreign currency
Other transfer services
  • Change, trace or return a transfer  25 AUD

Bendigo Bank exchange rate

You can find the Bendigo Bank exchange rate online[2] or by visiting a branch in person. It’s useful to know that there are different rates applied depending on whether you’re buying or selling a foreign currency – and the exact service involved. Make sure you’re looking at the right rate for the service you need.

Bank exchange rates typically include a markup on the mid-market exchange rate. That’s an extra fee and it means that the rate you see on the Bendigo website may not be as good as the rate you’ll get if you use an online currency converter or a Google search.

Markups tend to be in the region of about 3%. It’s a pretty small number but it can make a big difference. Especially if you’re sending a higher amount:

  • Sending 1,000 AUD – a 3% exchange rate markup adds 30 AUD to the total
  • Sending 5,000 AUD – a 3% exchange rate markup adds 150 AUD to the total
  • Sending 50,000 AUD – a 3% exchange rate markup adds 1,500 AUD to the total

Even on lower value payments, exchange rate markups are tricky because they are harder to see than upfront charges, so you may end up paying more than you expect, without even knowing it.

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:

  • Bendigo Bank: 30 AUD transfer fee + exchange rate margin + third party fees
  • 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

Bendigo Bank additional fees

Bendigo Bank international money transfers are sent using the SWIFT payment network. SWIFT is favoured by banks as it’s reliable, but it can mean hefty extra fees. Using SWIFT, banks pass a payment through a series of intermediary banks until it gets to the right account. Each intermediary – and the beneficiary’s own bank – can take a service fee as the money is processed. Here’s what Bendigo says:

“The beneficiary or intermediary banks may deduct fees from the payment, so the recipient may receive less than the amount sent.”

SWIFT fees can’t necessarily be known in advance. Bendigo Bank estimates that the average SWIFT fee applied is 25 AUD but they can run up to 50 AUD – more than the transfer fee Bendigo Bank itself charges.

How long does a Bendigo Bank international money transfer take

International payments sent with the SWIFT network – which Bendigo Bank uses – typically take 3 – 5 working days to arrive.

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

  • Bendigo Bank: May take 3 – 5 days
  • Wise: 80% of payments arrive in 24 hours
  • Western Union: Up to 2 days
  • OFX: 1 – 2 business days

Pros and cons of transferring money abroad with Bendigo Bank


  • Fixed transfer fee whether you send in branch or online
  • In person service available
  • Safe, familiar and reliable


  • Overall costs can be very high
  • Exchange rate markups and third party fees are hard to see
  • Delivery times are not market beating

Overall, while Bendigo Bank offers a reliable and familiar service for sending payments overseas, there are a few significant drawbacks around cost and processing time. You may find you can get a cheaper – and faster – service by using a specialist online provider instead.

How to make an international transfer with Bendigo Bank

Arrange your international transfer online or in a Bendigo Bank branch. If you prefer to send your money in a branch, a member of staff will walk you through the process and all the information you need to give. Branch payments cost the same as transfers arranged online.

If you’re sending a payment online you’ll need to log into online banking, and follow the onscreen prompts to enter all the required recipient information. More on that below.

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

You’ll need to enter the following information when you make a Bendigo Bank international transfer:

  • Account number or IBAN
  • Amount and currency you want to send
  • Beneficiary’s name as shown on the account you are sending the funds to
  • Beneficiary’s street address
  • Beneficiary bank name and address
  • Beneficiary bank SWIFT/BIC code

Transfer limits and available countries

You’ll need to set a daily transfer limit when you activate the telegraphic transfer option on your online banking service. The maximum is 30,000 AUD a day. If you need to send more than this in a single day you’ll need to complete a request form and submit it to a local branch.

You can send a Bendigo Bank international transfer in 25 different currencies.

Receiving money from abroad with Bendigo Bank

There’s a fee of 2 AUD to receive an international payment in AUD to your Bendigo account, and a fee of 10 AUD if the payment arrives in a foreign currency.

When you’re expecting an international payment you’ll need to give your sender the following:

  • Your name and address.
  • Your Bendigo Bank account number.
  • Bendigo Bank BSB – 633000.
  • Bendigo Bank Swift Code

Bendigo Bank SWIFT code

SWIFT codes – which are also sometimes called SWIFT/BIC codes – are unique identifiers which are assigned to banks all over the world, and used when sending international payments. They’re useful to guide the money to the right recipient bank, and make sure payments aren’t returned or delayed along the way.

  • Bendigo Bank Swift Code – BENDAU3B


Traditional banks offer a broad range of services – but they aren’t specialists in international payments. That can often mean higher fees and outdated processing systems which slow your money down as it moves around the world.

Sending your payment overseas with Bendigo Bank may be familiar, but it’s not likely to be the cheapest or fastest option. Check out a few specialist providers as a comparison to see if you can save time and money.


1. How much does a Bendigo Bank international transfer cost?

Sending a payment with Bendigo Bank will involve 3 separate potential fees: A transfer fee of 30 AUD, third party charges estimated at 25 – 50 AUD, and a fee which may be wrapped up in the exchange rate applied.

2. How long does a Bendigo Bank international money transfer take?

Bendigo Bank international transfers use the SWIFT network. SWIFT transfers usually take 3 – 5 working days to arrive.

3. How to transfer money internationally with Bendigo Bank?

Send an international payment with Bendigo Bank online or in a branch.

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