Westpac Banking Corporation got its name from “Western Pacific” and has been around for over 200 years. It has the largest branch network in Australia and is a popular choice for transferring money to other countries and currencies.


Westpac LogoHow to Transfer Money Overseas With Westpac to a Foreign Bank Account

Have a Westpac Bank Account

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


Register to Send Money Overseas

You can only transfer money internationally with Westpac if you’re registered for the Westpac Protect SMS code. Register by:

  1. Signing into Online Banking.
  2. Selecting ‘Preferences’ from the “Services & preferences” menu.
  3. Selecting  “Security.”
  4. Following the steps to register.


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

Review your bank account and finances to understand how much you need to send.

Work out what currency you are going to be transferring money into.

Get the full name, address, and account number of the person or business you’re sending money to. This cannot be a PO Box.

Get the full bank name, address, and SWIFT BIC (Bank Identifier Code) or Branch Number (some countries accept this) of the recipient’s bank.

Get the IBAN (for payments to Europe and selected other countries) or Routing Number (for payments to the US).

Destination countries sometimes have extra information requirements for transferring funds. This information varies depending on the country you have chosen to transfer funds to.


Decide How You Want to Make the Transfer

There are several ways to make a transfer through Westpac


Online — Via their Online Banking Service

  1. Log into Westpac’s online banking portal here.
  2. Select the ‘Make a payment’ button on the Overview page
  3. Select ‘Create a new payee’.
  4. Select the ‘International’ option from the Payment method drop-down menu, then select the country.
  5. Input all of the relevant details for the recipient and their bank.
  6. To continue with your International Payment, select the ‘From’ account.
  7. Select the appropriate currency and enter the amount.
  8. Enter the date for the payment and the payment frequency.
  9. Review the payment details and select ‘Continue’.
  10. You will be sent an SMS protect code to your registered device. Enter the SMS code and select ‘Authorise’.
  11. That’s it!


On Smartphone — Through the Westpac App

  1. Sign in to Westpac Mobile Banking.
  2. Tap “Pay” from the bottom menu.
  3. Follow the steps on screen to make your money transfer.
  4. You’re done!


How Long it Takes

Depending on the country you’re sending money to, and the currency that you’re exchanging into, funds are normally deposited into the recipient’s bank account within 3 working days.


How Much Westpac Charges to Transfer Money Overseas

  • Internet banking — $20.
  • LitePay — {Payments to The Philippines, India, Europe, and the United Kingdom are between $4 and $8.
  • In branch — $32.
  • Receiving bank fees — International money transfers sent to or from an overseas bank may be subject to commissions, fees, and other charges applied by that bank. These are typically deducted by the overseas bank from the funds paid to the recipient.


Cheaper Alternatives to Transferring Money Internationally with CBA

If you already bank with CBA, 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 CBA, compare the exchange rates and fees at CBA to your other options.


Compare Cheaper Ways to Transfer Money from Overseas

Provider Exchange
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


  • 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

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.


  • 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

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


  • 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.

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


  • 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

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


  • 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
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


  • 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


  • 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.


  • 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 0.7035 $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.


  • 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 0.6893 $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.


  • 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 0.6736 $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.


  • 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


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


Advantages of Sending Money Internationally with Westpac

  • Man excited to know how to transfer money overseas with westpacVery convenient if you already have a Westpac bank account.
  • It’s a simple and straightforward process.
  • You can make transfers online.
  • You can make transfers via mobile banking.
  • You can use an overseas telegraphic transfer or international bank draft (not recommended).
  • You can use the LitePay system to send money to Europe, the Philippines, India, and the United Kingdom.


Disadvantages of Transferring Money Abroad with Westpac

  • 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 Westpac

International Currencies Supported by Westpac

Here’s the current list of currencies that Westpac supports.

  • United States – Dollars – USD
  • United Kingdom – Pounds – GBP
  • Europe – Euro – EUR
  • Brunei Darussalem – Dollars – BND
  • Canada – Dollars – CAD
  • China – Yuan – CNY
  • Denmark – Kroner – DKK
  • Fiji – Dollars – FJD
  • French Pacific – Francs – XPF
  • Hong Kong – Dollars – HKD
  • Indonesia – Rupiah – IDR
  • India – Rupees – INR
  • Japan – Yen – JPY
  • Malaysia – Ringgit – MYR
  • New Zealand – Dollars – NZD
  • Norway – Kroner – NOK
  • Papua New Guinea – Kina – PGK
  • Philippines – Peso – PHP
  • Saudi Arabia – Riyals – SAR
  • Singapore – Dollars – SGD
  • South Africa – Rand – ZAR
  • Sweden – Kronor – SEK
  • Switzerland – Francs – CHF
  • Thailand – Baht – THB
  • Tonga – Pa’anga – TOP
  • Vanuatu – Vatu – VUV
  • Samoa – Tala – WST


View Currency Exchange Rates for Westpac

Daily rates for transferring funds internationally through Westpac 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 Westpac Information from The Currency Shop

Westpac exchange rates explained and compared.

Westpac guides on travel money and overseas money transfers.


Westpac Disclaimers

Westpac 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 Westpac 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 Westpac and a couple of our top rated money transfer specialists.


Westpac — $10,000 AUD to USD — $20 fee, exchange rate of 0.742 means the recipient gets $7,401 USD and it takes between 1 and 3 days.

World First — $10,000 AUD to USD — no fee, exchange rate of 0.78 means the recipient gets $7,799 USD and it takes between 2 and 3 days.

OFX — $10,000 AUD to USD — no fee, exchange rate of 0.78 means the recipient gets $7,800 USD and it takes between 1 and 3 days.


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


Using World First, OFX, or another dedicated currency exchange provider could save you over $500 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 Westpac. 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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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.