When it comes to sending money internationally, you have plenty of choice for currency transfers. One way to exchange your money is through the Australia and New Zealand Banking Group, or ANZ. Here’s our simple guide on exactly how to transfer money overseas with ANZ.

 

How to Make an International Transfer

There are several ways to make a transfer through ANZ Bank.

Online — Via their Online Banking Service

  1. Log into ANZ’s online banking portal here.
  2. Go to the “Payments” menu.
  3. Look for “International Services.”
  4. Choose to send money internationally.
  5. Input all of the relevant details for the recipient and their bank.
  6. Fund your transfer with your bank account or ANZ credit card.
  7. You’re done!

 

Over the Phone — Through the ANZ Call Center

  1. You can use your ANZ Transaction Account to arrange international money transfers over the phone.
  2. Call ANZ Bank on 1800 352 535 in Australia (Monday to Friday 8.00am to 7.30pm AEST).
  3. Give the customer service agent your details and security information.
  4. Give all the relevant details for the recipient and their bank.
  5. Fund your transfer with your bank account or ANZ credit card.
  6. You’re done!

 

Cheaper Alternatives to Transferring Money Internationally with ANZ Bank

If you already bank with ANZ, they using them to transfer money from overseas is the easiest option – but it may not be the cheapest.

To work out if you can save any money by using a money transfer company instead of ANZ, compare the exchange rates and fees at ANZ to your other options.


 

Compare Cheaper Ways to Transfer Money Overseas

Provider Exchange
Rate
Transfer
Fee
Transfer
Time
Total (AUD) Rates last updated September 22 2018
TransferwiseRead Review 0.7294 $63.19 1-2 Days $13,773.09Lowest Cost Option Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7294 will cost you $13,773.09 which includes a fee of $63.19

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

Pros

  • 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

Cons

  • 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

TorFXRead Review 0.7258 $0.00 2-3 Days $13,778.79$5.70 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7258 will cost you $13,778.79 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.

Pros

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

Cons

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

XERead Review 0.7255 $0.00 2-3 Days $13,784.33$11.24 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7255 will cost you $13,784.33 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

Pros

  • 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.

Cons

  • 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.

WorldFirstRead Review 0.7250 $0.00 2-3 Days $13,792.65$19.56 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7250 will cost you $13,792.65 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

Pros

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

Cons

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

HIFXRead Review 0.7250 $0.00 2-3 Days $13,792.65$19.56 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7250 will cost you $13,792.65 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 Xe.com. 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

Pros

  • 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

Cons

  • Only electronic bank transfers accepted
  • Limited exotic currencies
WorldRemitRead Review 0.7211 $3.99 1-2 Days $13,871.12$98.03 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7211 will cost you $13,871.12 which includes a fee of $3.99

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers. They concentrate on servicing individual needs as opposed to businesses. Click here for the full review

Pros

  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount

Cons

  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead Review 0.7154 $0.00 1-3 Days $13,978.19$205.10 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7154 will cost you $13,978.19 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.

Pros

  • 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

Cons

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

ANZRead Review 0.7035 $0.00 1-2 Days $14,214.64$441.55 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.7035 will cost you $14,214.64 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.

Pros:

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

Cons

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

Commonwealth BankRead Review 0.6893 $12.00 1-2 Days $14,519.47$746.38 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.6893 will cost you $14,519.47 which includes a fee of $12.00
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.

Pros:

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

Cons

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

WestpacRead Review 0.6736 $10.00 1-2 Days $14,855.61$1082.52 more expensive Go to site Read Review
So, sending USD 10,000 to United States at an exchange rate of 0.6736 will cost you $14,855.61 which includes a fee of $10.00
Westpac is one of the big four banks in Australia offers speedy and secure transfers.

Pros:

  • Fast payment processing times
  • Secure transfers

Cons

  • 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 You Need to Send Money Through ANZ Bank to a Foreign Bank Account

Have an ANZ Bank Account

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

 

Register to Send Money Overseas

To transfer money internationally with ANZ Bank, you will need to register for the “Send Money Overseas” service and for OnlineCode, a “two-factor authentication” system that provides additional security for online banking.

 

Register for the Send Money Overseas service by calling ANZ Bank on 0800 368 524 (personal customers), or 0800 269 249 (business/agri customers) or +64 4 470 3142 (overseas customers).

 

Here’s how to register for OnlineCode.

 

Understand How Much Money You’re Sending and Who You’re Sending It To

  1. Review your bank account and finances to understand how much you need to send.
  2. Work out what currency you’re going to be transferring money into.
  3. Get the full name, address, and account number of the person or business you’re sending money to. This cannot be a PO Box.
  4. Get the full bank name, address, and SWIFT BIC (Bank Identifier Code) or Branch Number (some countries accept this) of the recipient’s bank.
  5. Get the IBAN (for payments to Europe and selected other countries) or Routing Number (for payments to the US).
  6. Destination countries sometimes have extra information requirements for transferring funds. This information varies depending on the country you have chosen to transfer funds to.

Advantages of Sending Money Internationally with ANZ Bank

  • Very convenient if you already have an ANZ bank account.
  • It’s a simple and straightforward process.
  • You can make transfers online.
  • You’re protected by the ANZ Fraud money back guarantee.
  • You can get access to the ANZ Shield app.
  • Send money to over 90 countries around the world.
  • Funds are sent through the worldwide bank network and are protected by a “two factor authentication” system.

 

Disadvantages of Transferring Money Abroad with ANZ Bank

  • Higher fixed fees than a dedicated currency exchange provider.
  • Worse exchange rates than a specialist money transfer company.

 

Further Information on Sending Money Internationally with ANZ Bank

International Currencies Supported by ANZ Bank

Here’s the current list of currencies that ANZ Bank supports.

  • AUD – Australian Dollar
  • CAD – Canadian Dollar
  • CHF – Swiss Franc
  • DKK – Danish Krone
  • EUR – Euro
  • FJD – Fiji Dollar
  • GBP – Great British Pound
  • HKD – Hong Kong Dollar
  • INR – Indian Rupee
  • JPY – Japanese Yen
  • KWD – Kuwaiti Dinar
  • LKR – Sri Lanka Rupee
  • MUR – Mauritius Rupee
  • NOK – Norwegian Krone
  • PGK – Papua New Guinea Kina
  • PHP – Philippine Peso
  • SAR – Saudi Riyal
  • SBD – Solomon Islands Dollar
  • SEK – Swedish Krona
  • SGD – Singapore Dollar
  • THB – Thai Baht
  • TOP – Tonga Pa’anga
  • USD – US Dollar
  • VUV – Vanuatu Vatu
  • WST – Samoan Tala
  • XPF – CFP Franc
  • ZAR – South African Rand

 

If your currency is not available, contact ANZ Bank on 0800 103 123 or +64 4 472 7123 (if you are overseas), or visit your nearest ANZ branch.

 

View Currency Exchange Rates for ANZ Bank

how to transfer money overseas with anzDaily rates for transferring funds internationally through ANZ Bank are available through their currency converter.

The currency exchange rate you will get does vary from moment to moment.

You will get the up-to-date, dynamic rate when you are booking your transfer through online banking or over the phone.

 

Further ANZ Bank Information from The Currency Shop

 

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 You Use ANZ Bank to Send Your Money Overseas to Another Bank Account

Sending money abroad using your bank can be expensive. You will pay higher fees and get a worse exchange rate than you can using a dedicated money transfer specialist.

 

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 AUD into US dollars, via ANZ and a couple of our top rated money transfer specialists.

  • ANZ — $10,000 AUD to USD — $18 fee, exchange rate of 0.751 means the recipient gets $7,496 USD and it takes between 1 and 3 days.
  • HiFX — $10,000 AUD to USD — $15 fee, exchange rate of 0.777 means the recipient gets $7,760 USD and it takes between 2 and 3 days.
  • OFX — $10,000 AUD to USD — no fee, exchange rate of 0.779 means the recipient gets $7,788 USD and it takes between 1 and 3 days.

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

 

Using OFX, HiFX, or another dedicated currency exchange provider could save you over $350 on a transaction like this. To see how much you could save, take a look at our free online comparison tool.

 

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

 

The next time you need to send money internationally, check how you can save money 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.