ANZ International Money Transfers Exchange Rates, Fees and Transfer Times
ANZ international transfers are a quick and fairly easy way to send money from your Australian bank account to a bank account overseas. The easiest and cheapest way to do it using ANZ is online. Although ANZ recently lowered their flat fees for international money transfers, the exchange rates for most Australian customers are still relatively expensive.
Making an international money transfer (or telegraphic transfer) comes with a few questions. How easy is it? Are there any hidden fees or charges? How does it actually work?
While the ANZ website about international money transfers is useful, our summary makes it easier to find out all the information you'll need to know before you transfer funds overseas.
If you're looking for a safe, easy and cheaper alternative to ANZ, click here to compare your options.
In this article, you'll find out more about:
ANZ Exchange rates for international money transfers (IMT's)
Compare ANZ Exchange Rates to other banks and foreign exchange services
About these ANZ exchange rates
Send Money: If you need to transfer money from Australia to another bank account overseas
Receive Money: If you need to receive money into your ANZ bank account from overseas
To view the rates for ANZ foreign currency exchange click here
If you're not sure about what currency you’ll need for the country you are going to, check out the full list of currency codes here.
Bank Charges and transfer fees
How much ANZ charges for international transfers
For ANZ customers who are sending foreign currency overseas via internet banking it will cost $9 for transactions under AUD$10,000. Meanwhile for transactions above AUD$10,000, its fee free. However, ANZ also charge additional fees for international money transfers which depend on 4 things:
- How you transfer: Online, over the phone or in branch
- How much you transfer: Transfers over $10,000 Australian dollars are cheaper and often fee free
- Where you're transferring the money to: International payments to Fiji, Samoa, Vanuatu, Kiribati, Tonga, Solomon Islands, Cook Islands, Timor Leste, French Polynesia, Guam, New Caledonia and Papua New Guinea attract lower fees
- What currency you're sending: Transfers in Australian dollars (AUD) have higher fees
For more information, go to the fee section of this page.
How much ANZ charges you to receive international transfers into an Australian dollar (AUD) account
ANZ's international transfer fee (telegraphic transfers) from overseas vary depending on how the funds are received. The fee that ANZ charges will be taken from the total amount of money that you receive, even before it is credited to your account. However, ANZ only charges you if the overseas bank that makes the international transfer says they will not be charging any fees for the transfer.
- Transfers that are paid directly to an ANZ Australian dollar account — up to $15
- Money transfers to non-customers or moved to another bank in Australia — up to $25
- Unconverted currency payments transferred to another foreign currency account held at a bank in Australia — $35
Extra Fees to be Aware Of:
- Intermediary bank fees — payments may be routed through one or more intermediary banks 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 banks may also charge processing fees. This will be deducted from the amount you receive.
- 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 the money is sent to you.
How to transfer money overseas with ANZ
You can transfer money overseas either using ANZ internet banking, using phone banking or at a branch. No matter how you choose to send your money abroad, you will need certain information about the international bank account you are transferring the money to. This includes:
- The account name of the payee
- The account number
- The overseas bank or financial institutions SWIFT code (also know as a BIC code)
- Different countries have different requirements though. You may also need to provide more account details like a bank routing number, the branch number of the receiving bank, an IBAN (particularly for transfers to Europe)
How to receive money from overseas into your ANZ bank account
If you want to receive foreign currency into your Australian dollar account at ANZ, you need to provide your bank account details to the person or business sending the money.
They will need the following information:
- Your ANZ branch name and address
- The bank account number and BSB
- Your account name
- Your residential address that is listed on the account
- ANZ’s full beneficiary bank name. This is ANZ Bank New Zealand Limited
- ANZ’s SWIFT/BIC code. This is ANZBNZ22 or ANZBAU3M. If the other party requires an 11 digit SWIFT, use ANZBNZ22XXX
In most cases ANZ will automatically convert the incoming foreign currency at a foreign exchange rate that they can determine. Unfortunately, this exchange rate might not be the best you can find. If you're looking to get the best exchange rate or even hold the foreign currency in an account before converting it, you can either compare money transfer exchange rates here, or look at a multi-currency account like the TransferWise Borderless Account.
For a more comprehensive guide on how to receive funds into your Australian ANZ account click here.
How long it takes for the money to arrive
In most cases it either arrives on the same day or between 1-3 business days later. ANZ international services tend to process international transfers overnight on bank business days. However, the time it takes until the payee’s can see the money in their account will vary depending on the receiving bank.
For more information, read How long does an international money transfer take?
For personal customers sending money overseas online using ANZ internet banking, the maximum amount they can transfer depends on their Pay Anyone limit. For more information, see the ANZ faqs.
If you are not sure which exchange rate you need, here is a list of currencies, countries and currency codes.
|CZECH REPUBLIC||Czech Koruna||CZK|
|HONG KONG||Hong Kong Dollar||HKD|
|ISRAEL||New Israeli Sheqel||ILS|
|THE REPUBLIC OF KOREA||Won||KRW|
|NEW CALEDONIA||CFP Franc||XPF|
|NEW ZEALAND||New Zealand Dollar||NZD|
|PAPUA NEW GUINEA||Kina||PGK|
|THE PHILIPPINES||Philippine Peso||PHP|
|PUERTO RICO||US Dollar||USD|
|SOUTH AFRICA||South African Rand||ZAR|
|SRI LANKA||Sri Lanka Rupee||LKR|
|TAIWAN||New Taiwan Dollar||TWD|
|UNITED ARAB EMIRATES||UAE Dirham||AED|
|UNITED KINGDOM||Pound Sterling||GBP|
|UNITED STATES OF AMERICA||US Dollar||USD|