Here’s our simple guide on exactly how to receive money from overseas through ANZ.


The 3 Steps to Receive Money From Overseas Through ANZ Bank

1. Review your bank account and get the necessary details

2. Provide the person who is sending you money with the following information:

  • Your ANZ branch name and address.
  • Your account number.
  • Your account name.
  • Your residential address listed on the account.
  • ANZ’s full beneficiary bank name: ANZ Bank New Zealand Limited.
  • ANZ’s SWIFT code: ANZBNZ22 or ANZBAU3M (also known as a Bank Identifier Code or BIC).
  • Note: If the other party requires an 11 digit SWIFT, use ANZBNZ22XXX.
  • For payments to a domestic account, format as e.g. BSB 01XXXX Account: 123456789
  • For payments to a foreign currency account, format as e.g. BSB 01XXXX Account: 123456CCY00001

3. They can then use their bank or a dedicated currency provider to send you the money.

Important: You Need a ANZ Bank Account to Get Started

You need to be a customer of ANZ bank to receive money through their services. You can apply for an ANZ bank account online or visit a local branch.



Compare Cheaper Ways to Receive Money from Overseas

Provider Exchange
Total (AUD) Rates last updated August 15 2018
XERead Review 0.7194 $0.00 2-3 Days $13,900.08Lowest Cost Option Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7194 will cost you $13,900.08 with no fees.

About XE

XE is a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year. Over 60 currencies can be transferred with XE and they pride themselves on the free tools and transparent rates they offer. Click here to read the full review


  • Well known and trusted brand.
  • Very informative website. Extensive information on currency and money transfers.
  • XE App is available on both iOS and Android. It allows you to see the interbank rate for over 100 currencies.
  • XE themselves charge no fees for international money transfers.
  • Offers support for both individuals and businesses when it comes to international money transfers.


  • Cannot pay via cash or cheque. Must pay via bank transfer, BPay is also accepted in Australia.
  • Maximum transfer amount is $500,000USD.
  • While XE compares more than 100 currencies, there are only 60 that are available for money transfers.

TransferwiseRead Review 0.7226 $63.78 1-2 Days $13,902.70$2.62 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7226 will cost you $13,902.70 which includes a fee of $63.78

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review


  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products


  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

WorldFirstRead Review 0.7183 $0.00 2-3 Days $13,922.45$22.37 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7183 will cost you $13,922.45 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review


  • Low fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments


  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available

TorFXRead Review 0.7183 $0.00 2-3 Days $13,922.45$22.37 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7183 will cost you $13,922.45 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.


  • No transfer fees
  • Highly competitive exchange rates
  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options


  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better

HIFXRead Review 0.7183 $0.00 2-3 Days $13,922.45$22.37 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7183 will cost you $13,922.45 with no fees.

About HiFX

HiFX are one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired They are particularly useful for individuals doing regular transfers overseas. HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment. Locally, HiFX have Australian offices in Sydney, Melbourne and are expanding to the remaining capital cities. Click here to read the full review


  • Fantastic bank - beating exchange rates
  • Low fees for transactions less than $10, 000
  • No fees for transactions of $10, 000 or more
  • High security transfers regulated by ASIC and FMA
  • Fast and easy for personal or business accounts


  • Only electronic bank transfers accepted
  • Limited exotic currencies
OFXRead Review 0.7130 $0.00 1-3 Days $14,025.25$125.17 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7130 will cost you $14,025.25 with no fees.

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.


  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service


  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers

ANZRead Review 0.7108 $0.00 1-2 Days $14,068.66$168.58 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7108 will cost you $14,068.66 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.


  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking


  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available

Commonwealth BankRead Review 0.6977 $12.00 1-2 Days $14,344.81$444.73 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.6977 will cost you $14,344.81 which includes a fee of $12.00
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.


  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions


  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates

WestpacRead Review 0.6972 $10.00 1-2 Days $14,353.09$453.01 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.6972 will cost you $14,353.09 which includes a fee of $10.00
Westpac is one of the big four banks in Australia offers speedy and secure transfers.


  • Fast payment processing times
  • Secure transfers


  • Must be Westpac account holder
  • $20 fee for transfers via Internet or phone banking
  • $32 fee for transfers at an ANZ branch
  • Poor exchange rates


What If You Don't Want to Convert the Money into Australian Dollars?

You may want to keep the money in a foreign currency instead of converting into Australian Dollars straight away. In this case, you can either use a foreign currency account or a TransferWise Borderless Account. Both have their pros, cons, costs and benefits so we recommend you read up on your options before making a decision.

Related link: TransferWise Borderless Account Review

Related link: Foreign Currency Accounts: Explained and Compared


The Benefits of Receiving Money Internationally with ANZ Bank

  • Very convenient if you already have an ANZ bank account.
  • It’s a relatively simple and straightforward process.
  • Receive money from most countries around the world.


How Long it Takes to Receive Currency with ANZ Bank

Depending on the country you’re receiving money from, the currency exchange provider the sender is using and the currency that you’re exchanging from, funds will normally be deposited into your bank account within two working days.


How Much it Costs To Receive Money from Abroad with ANZ Bank

Foreign currency drafts or bank cheques into your ANZ account:

  • Payable outside Australia — $50 per item + costs
  • Payable at ANZ within Australia, equivalent to under $100 Australian Dollars — Free
  • Payable at ANZ within Australia, equivalent to $100 Australian Dollars or more — $35

International money transfers (telegraphic transfers) from overseas:

  • Charges will be deducted from the proceeds of the transfer before credit to your account unless the overseas bank making the transfer states that the charges will be borne by them.
  • Payment paid directly to an ANZ account — up to $15
  • Payments to non-customers or transferred to another bank in Australia — up to $25
  • Unconverted payments transferred to another foreign currency account held at a bank in Australia — $35
  • Bank cheque issued for amounts of $100 and over — $27
  • Payments made on application and identification — $20

Intermediary bank fees — payments may be routed through one or more intermediary bank(s) before the payment reaches your ANZ account. This could happen if the remitting bank has an arrangement with another bank in Australia or overseas. In this scenario, the intermediary bank(s) may charge processing fees that may be deducted from the payment.

Sending provider or bank fees — International money transfers sent from an overseas bank or currency exchange provider may be subject to commissions, fees and other charges. These are typically deducted before sending the money to you.

*All details shown above are correct as of November 2017.


Notes on International Bank Account Numbers (IBAN), National Clearing Code, Routing Number, BSB Number or Sort Code

IBAN is an account format used by European banks. Australian banks do not use this format and an IBAN is not required to send money to an ANZ bank account. Other parties with an IBAN field on their overseas payment form can leave this field blank.


If the other party requests a National Clearing Code, Routing Number, BSB Number or Sort Code, you should use the first six digits (bank and branch codes) of your account number for which you wish to receive the payment into. e.g. For 01-0123-0123456-00 use 010123


Notes on International Bank Drafts or Cheques

International bank cheques or drafts can be deposited into an ANZ account. If it is in a foreign currency it will take longer to process as it will need to be returned to the country of origin for clearing. Additionally, the high fees associated with these types of payments means that we can never recommend international bank drafts or cheques and we suggest requesting a different payment method from the sender.

Related Link: Receiving Money from Overseas with ANZ Bank


Currency Exchange Rates

  • The rates the sender gets for transferring currency to you will depend on the bank, money transfer provider or other service they are using.
  • Ask them to send you details of their provider so that you can see rates.
  • Note that exchange rates and fees charged by banks are often higher than the sender could get with a dedicated money transfer provider.

Further ANZ Bank Information from The Currency Shop

ANZ Foreign Currency Exchange

ANZ Bank Disclaimers

ANZ Bank does not check payment details.

If payment details are incorrect it may result in an unsuccessful transfer or the wrong account receiving funds.


Before Your Sender Uses a Bank to Send Your Money Overseas

If you want to get the most value out of your currency exchange, consider asking the sender to use a dedicated currency exchange or money transfer service. Sending you money using their bank can be expensive. They will pay higher fees and get a worse exchange rate than using a dedicated money transfer specialist, meaning you get less as a result.


These specialist currency providers are fast and easy to use, offer excellent exchange rates and have low or non-existent fees, so your money goes further. As an example, here’s what it would cost to convert £10,000 into $AUD, via ANZ and a couple of our top rated money transfer specialists.


  • ANZ — £10,000 to $AUD — you will receive $16,424 AUD.
  • TorFX — £10,000 to $AUD — you will receive $17,109 AUD — $685 (4%) more.
  • Transferwise — £10,000 to $AUD — you will receive $17,144 AUD — $720 (4.2%) more.


*All details shown above are correct as of November 2017.


If your sender uses a dedicated money transfer service like World First, Transferwise, OFX, HiFX or another dedicated currency exchange provider, they could save you over $650 on a transaction like this. To see how much they could save, get them to take a look at our free online comparison tool.


And that’s it — everything you need to know about receiving your money from overseas using ANZ. Here at The Currency Shop, we want to give you the right information to help you and the sender save money and help you make an informed choice for all your currency exchange needs.


The next time you or someone else needs to send money internationally, check how much you can save using our money transfer comparison tool. If you’ve still got questions we’re here to help, so feel free to give us a call on 1800 004 930.


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Helping You Save Money on Currency

Buying travel money or transferring money overseas can be expensive and confusing. So how do you make the best choice and get the most out of your money?

An easy way is to use a comparison table for either international money transfers or currency exchange. These tables list and compare the banks with other large foreign exchange companies.

We’ve also put together tons of helpful videosguides and reviews that will help you make the right decision. You can work out a cheaper way of converting currency while still keeping your money safe.