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NAB Exchange Rates – National Australia Bank currency rates compared

In this article we take a look at National Australia Bank exchange rates and examine how NAB international services compare to other options available to you.

 

If you plan on travelling internationally, sooner or later you will have to deal with foreign exchange rates. For most people, including customers of National Australia Bank (NAB), the very term evokes confusion. However, with minimal effort you can get a basic understanding of NAB exchange rates and all foreign exchange rates. Once you understand the concepts you’ll be able to exchange the currency easily and independently, without help from an agent or a financial advisor. Most importantly:

CBA FX screenshot
NAB FX website

National Australia Bank AUD Exchange Rates

This table shows NAB exchange rates for foreign transfers and travel money. The percentages with the rates show how much margin the bank is charging compared to the market mid-rate. The table is updated hourly, for the latest comparison goto our comparison calculators for NAB Foreign Transfers and Westpac Travel Money.

 
NAB , 1AUD=Foreign Transfers
AED - UAE dirham2.4949 (5.69%)
BDT - Bangladeshi Taka56.98 (5.72%)
BHD - Bahraini dinar0.2586 (4.64%)
CAD - Canadian dollar0.911 (4.38%)
CHF - Swiss franc0.6796 (4.64%)
CNY - Chinese yuan4.6229 (4.94%)
CZK - Czech Republic koruna15.38 (4.55%)
DKK - Danish krone4.4998 (4.49%)
EUR - Euro0.6029 (4.48%)
FJD - Fijian dollar1.425 (6.66%)
GBP - British pound sterling0.5338 (4.48%)
HKD - Hong Kong dollar5.3864 (4.54%)
HRK - Croatian kuna4.444 (5.25%)
HUF - Hungarian forint193.89 (4.43%)
IDR - Indonesian rupiah9807 (3.61%)
ILS - Israeli New Sheqel2.5245 (4.83%)
INR - Indian rupee49.44 (3.11%)
JPY - Japanese yen74.72 (4.7%)
KES - Kenyan shilling69.62 (4.93%)
KWD - Kuwaiti dinar0.2075 (4.87%)
LKR - Sri Lankan rupee124.98 (4.73%)
MAD - Moroccan Dirham6.5565 (4.52%)
MUR - Mauritian rupee23.47 (4.99%)
MXN - Mexican peso13.05 (4.06%)
NOK - Norwegian krone5.8681 (4.46%)
NZD - New Zealand dollar1.0139 (4.35%)
OMR - Omani rial0.2642 (4.62%)
PGK - Papua New Guinean kina2.2478 (7.33%)
PHP - Philippine peso35.77 (4.7%)
PKR - Pakistani rupee94.32 (6.48%)
PLN - Polish zloty2.5777 (4.64%)
QAR - Qatari rial2.4997 (4.58%)
SAR - Saudi riyal2.5757 (4.55%)
SBD - Solomon Islands dollar5.2621 (10.56%)
SEK - Swedish krona6.1764 (4.59%)
SGD - Singapore dollar0.9304 (4.5%)
THB - Thai baht22.01 (3.32%)
TOP - Tongan paanga1.5239 (6.36%)
USD - U.S. dollar0.6867 (4.54%)
VUV - Vanuatu vatu75.55 (5.44%)
WST - Samoan tala1.7258 (8.31%)
XPF - CFP franc70.89 (6.04%)
ZAR - South African rand9.4209 (4.22%)
Thu Jan 17, 2019 7:05 AEDT
NAB Exchange Rates (% margins to midrate)
 

Understanding NAB Exchange Rates

Before we proceed to calculate the NAB exchange rates, let’s understand the factors that determine the exchange rates. Three major factors affect the exchange rate. They are:

  • The currency you want to buy/sell
  • The type of transaction – whether you wish to buy or sell
  • The product you prefer – cash, travel cards, IMT (International Money Transfer)

Let’s now consider these in detail.

Currency

While travelling abroad, you will be more concerned about how much foreign currency would your AUD fetch. As you probably know, this depends on the currency you wish to buy. See the table below:

NAB exchange rate Source: https://www.nab.com.au/personal/international/foreign-exchange-rates#/rate

As you can see, the value of 1AUD differs when converted to other currencies. For instance, 1AUD will fetch you 0.9245CAD, whereas the same 1AUD will fetch you only 0.5464GBP. This might be a bit confusing at the first glance. But, you need to know the rate of only the currency you’ll need for your travel. Hence, if you are travelling to Canada, you need to check the rate of the CAD alone. Similarly, for a trip to New Zealand, you need to check the rates of NZD only.

Transaction type

Once you have found the correct currency, the next step is to find the rate relevant to your need. It is important to remember that banks charge different rates for different transactions. The buying rate would differ from the selling rate.

For buying cash, you will have to refer to this chart. It means one AUD will fetch you 0.7243USD in cash.

If you were looking to sell some leftover money from your travel, you’ll need to refer to the table below:

So, if you are selling your foreign currency, say USD, 0.7969USD will fetch you 1AUD. As you can see, this rate is slightly different from the buying rate.

Products you need

We have already discussed that the exchange rate depends on the product you wish to buy/sell. For instance, if you were buying a NAB travel card, the cost for various currencies would be:

We have already seen the rates for hard cash in the tables elsewhere. When you compare, you’ll see that the rates differ according to the product you prefer.

MT/TT

As well as NAB exchange rates, NAB Internet Banking can also be used for IMT and you can easily send money around the world in no time. In addition, this facility offers you the option of locking in your exchange rates day or night during a week.

Calculating Currency Conversions

Now that we have understood the factors that affect exchange rates, it is time to do some calculations and find out how it works in real life situation.

How much foreign currency will my Australian dollars fetch?

If you want to know how much amount of foreign currency will X amount of Australian dollars buy, here is the calculation:

Australian Dollars with you * Exchange rate = Foreign Currency you will receive

For example, if you have 2000AUD and want to buy USD at the rate of 0.7243USD, then your home currency will fetch 1484.6USD (2000*0.7243=1484.6)

What is the cost to buy a fixed amount of foreign currency?

There might be situations when you know you need exactly X amount of foreign currency. In that case, you can use the following formula to calculate the amount of AUD it will cost you:

The cost in Australian Dollar = the amount of currency you want to buy / exchange rate

So, if you need 1500 GBP, while the exchange rate is 0.5451, then you’ll have to spend 2751.78AUD (1500/0.5451=2751.78)

What is the cost if you send money overseas?

As explained above, if you know the exact amount of money you want to send oversees, the calculation to be used is the same as buying travel money (The cost in Australian Dollar = the amount of currency you want to buy / exchange rate).

What is the calculation while receiving currency from overseas?

For receiving money from overseas, use the following formula:

Foreign currency received/exchange rate = the amount of Australian Dollar you receive.

So, if you received 2000 GBP through a bank transfer, with an exchange rate of 0.6062, then the amount of AUD you’d receive would be 3299.24 (2000/0.6062=3299.24)

In short, it can be said that for converting AUD into foreign currencies and vice versa, the general rule will be:

  • Convert AUD into foreign currency by Multiplying it by the exchange rate
  • Convert foreign currency into AUD by dividing it by the exchange rate

Once you understand this fundamental idea, the rest becomes easy. However, remember that the actual amount you’ll receive will depend on the type of product too. So, if you buy a travel card, opt for IMT or exchange AUD for foreign currency in cash, there would be slight differences in the cost. Furthermore, you should always try to do currency exchange from branches than airports. Airports are generally costly when it comes to currency exchange.


National Australia Bank Foreign Transfer Rates & Fees - Compared

Foreign Transfers - Best Rates vs National Australia Bank National Australia Bank (nab) logo

Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee AUDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX (OzForex) logo
7,120 USD0.7120^0.93%Bank Transfers - Online & Phone1-2 days
 
TorFX logo
7,117 USD0.711700.97%Bank Transfers - Online & Phone1-2 days
BankSA
BankSA logo
6,921.12 USD0.693520.013.7%Online, Branch, Bank Transfers2-3 days
Bank of Melbourne
Bank of Melbourne logo
6,920.44 USD0.6935213.71%Online, Branch, Bank Transfers2-3 days
 
ANZ Bank logo
6,916.53 USD0.6929183.76%Online, Branch, Bank Transfers2-3 days
 
Bank of Queensland logo
6,914.2 USD0.6935303.8%Online, Branch, Bank Transfers2-3 days
 
National Australia Bank (nab) logo
6,851.89 USD0.6867224.66%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
National Australia Bank (nab) logo Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Queensland logo Bank of Melbourne logo BankSA logo
6,847 USD0.6860154.74%Online, Branch, Bank Transfers2-3 days
 
Commonwealth Bank (CBA) logo
6,770.94 USD0.67756 5.79%Online, Branch, Bank Transfers2-3 days
 
St George Bank logo
6,754.46 USD0.6768206.02%Online, Branch, Bank Transfers2-3 days
 
Westpac logo
6,722.53 USD0.6736206.46%Online, Branch, Bank Transfers2-3 days
OFX (OzForex): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.7120 (0.93% from mid-rate)
USD amount:7,120 USD
Total Cost:0.93%
Time:
Rate Fetched: Wed Jan 16 2019 16:00:05 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
TorFX: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:0.7117 (0.97% from mid-rate)
USD amount:7,117 USD
Total Cost:0.97%
Difference:
$3 less than using OFX (OzForex)
Time:16:35 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
BankSA: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:0.6935 (3.51% from mid-rate)
USD amount:6,921.12 USD
Total Cost:3.7%
Difference:
$199 less than using OFX (OzForex)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Melbourne: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:21
Exchange Rate:0.6935 (3.51% from mid-rate)
USD amount:6,920.44 USD
Total Cost:3.71%
Difference:
$200 less than using OFX (OzForex)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
ANZ Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:18
Exchange Rate:0.6929 (3.59% from mid-rate)
USD amount:6,916.53 USD
Total Cost:3.76%
Difference:
$203 less than using OFX (OzForex)
Time:
Rate Fetched: website - Wed Jan 16 2019 16:03:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
Bank of Queensland: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:30
Exchange Rate:0.6935 (3.51% from mid-rate)
USD amount:6,914.2 USD
Total Cost:3.8%
Difference:
$206 less than using OFX (OzForex)
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
National Australia Bank (nab): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:0.6867 (4.45% from mid-rate)
USD amount:6,851.89 USD
Total Cost:4.66%
Difference:
$268 less than using OFX (OzForex)
Time:
Rate Fetched: website - Wed Jan 16 2019 16:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 

Banks - Average Rate
National Australia Bank (nab) logo Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Queensland logo Bank of Melbourne logo BankSA logo

Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:0.7060 (1.77% from mid-rate)
USD amount:6,847 USD
Total Cost:4.74%
Difference:
$273 less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Commonwealth Bank (CBA): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:0.6775 (5.73% from mid-rate)
USD amount:6,770.94 USD
Total Cost:5.79%
Difference:
$349 less than using OFX (OzForex)
Time:
Rate Fetched: website - Wed Jan 16 2019 16:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6768 (5.83% from mid-rate)
USD amount:6,754.46 USD
Total Cost:6.02%
Difference:
$366 less than using OFX (OzForex)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
Westpac: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6736 (6.28% from mid-rate)
USD amount:6,722.53 USD
Total Cost:6.46%
Difference:
$397 less than using OFX (OzForex)
Time:
Rate Fetched: website - Wed Jan 16 2019 16:04:05 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
  

National Australia Bank Travel Money Rates & Fees - Compared

Travel Money - Best Rates vs National Australia Bank National Australia Bank (nab) logo

Travel Money Providers
Ratings & Reviews
Amount USD($)Exchange RateFee AUDTotal CostCurrency ServicesDelivery/CollectDeal Links
 
Travelex Online AU logo
700.20 USD
Value & Rating
0.7002$0 BPay, Card 0.72%-1%2.57%Online order, Branch pickup, Home delivery2-3 days
 
Travel Money Oz logo
699.80 USD
$0.4 less
0.6998$0 BPay, Credit Card 1%2.63%Online order, Branch pickup3-5 days
 
ANZ Bank logo
685.97 USD
$14 less
0.6929$104.55%Branch-
Bank of Melbourne
Bank of Melbourne logo
683.10 USD
$17 less
0.6935$154.95%Branch-
BankSA
BankSA logo
683.10 USD
$17 less
0.6935$154.95%Branch-
 
Commonwealth Bank (CBA) logo
679.14 USD
$21 less
0.686$105.5%Branch-
Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo National Australia Bank (nab) logo Bank of Melbourne logo BankSA logo
678.11 USD
$22 less
0.6865105.65%Branch-
 
St George Bank logo
675.02 USD
$25 less
0.6853$156.08%Branch-
 
National Australia Bank (nab) logo
673.60 USD
$27 less
0.6804106.28%Branch-
 
Westpac logo
666.86 USD
$33 less
0.6736$107.21%Branch-
Travelex Online AU: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.7002 (2.57% from mid-rate)
USD amount:700.20 USD
Total Cost:2.57%
Time:
Rate Fetched: Wed Jan 16 2019 16:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Travel Money Oz: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:0.6998 (2.63% from mid-rate)
USD amount:699.80 USD
Total Cost:2.63%
Time:
Rate Fetched: Wed Jan 16 2019 16:00:06 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6929 (3.59% from mid-rate)
USD amount:685.97 USD
Total Cost:4.55%
Time:
Rate Fetched: website - Wed Jan 16 2019 16:03:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
Bank of Melbourne: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6935 (3.51% from mid-rate)
USD amount:683.10 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
BankSA: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6935 (3.51% from mid-rate)
USD amount:683.10 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Commonwealth Bank (CBA): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6860 (4.55% from mid-rate)
USD amount:679.14 USD
Total Cost:5.5%
Time:
Rate Fetched: website - Wed Jan 16 2019 16:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
 

Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo National Australia Bank (nab) logo Bank of Melbourne logo BankSA logo

Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6831 (4.95% from mid-rate)
USD amount:678.11 USD
Total Cost:5.65%
Currency Services:Branch
Delivery/Collect:-
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6853 (4.65% from mid-rate)
USD amount:675.02 USD
Total Cost:6.08%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6804 (5.33% from mid-rate)
USD amount:673.60 USD
Total Cost:6.28%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (6.28% from mid-rate)
USD amount:666.86 USD
Total Cost:7.21%
Time:
Rate Fetched: website - Wed Jan 16 2019 16:04:05 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

Related Posts

2 Reviews for “NAB Exchange Rates – National Australia Bank currency rates compared”

  1. nab cust says:

    I lived overseas in France for 18 months, and had to withdraw and send from my National Australia account often. Wish I had switched earlier as the rates were not very good

  2. uk expat says:

    I was using my NAB account to send money home but found much better rates at OFX through this website thx!

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