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Westpac Exchange Rates

 

Exchange Rates 1
Customer Service 1.1
Ease of Use 1.5

Westpac Exchange Rates Explained and Compared

Like all the leading banks, Westpac Bank offers a wide range of currency related products and services to its customers. If you are a customer of the bank and use internet banking to transfer money overseas then you will be interested to learn how Westpac exchange rates compare to other providers.

If you are looking to send money overseas through an International Money Transfer (IMT) or get travel money, read on to:

Westpac Bank AUD Exchange Rates

This table shows Westpac Bank 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 Westpac Foreign Transfers and Westpac Travel Money.

 
Westpac Exchange Rates (% margins to midrate)
 

Foreign Transfers - How does Westpac Rates & Fees Compare?

Compare Foreign Transfers vs Westpac logoWestpac

Send AUD $10,000 → Receive USD

ProviderReceive Amount USDExchange RateCostReviewsLinks to Offers
OFX logoOFX
$7066.00 USD0.70660.88%
 
HSBC logoHSBC
$6917.61 USD0.69282.97%
Bank of Queensland logoBank of Queensland
$6858.36 USD0.68793.8%
 
Citibank logoCitibank
$6856.76 USD0.68653.82%
ANZ Bank logoANZ Bank
$6841.66 USD0.68544.03%
 
NAB logoNAB
$6806.99 USD0.68224.52%
 
Banks - Average Rate
NAB logo Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo Bank of Queensland logo HSBC logo Bank of Melbourne logo BankSA logo
$6787.58 USD0.68004.79%
BankSA logoBankSA
$6723.52 USD0.67375.69%
Westpac logoWestpac
$6722.53 USD0.67365.7%
 
Bank of Melbourne logoBank of Melbourne
$6722.85 USD0.67375.7%
Commonwealth Bank logoCommonwealth Bank
$6720.97 USD0.67255.72%
 
St George Bank logoSt George Bank
$6704.56 USD0.67185.95%
 
 
OFX: rate, rating & reviews
From amount:$10,000 AUD
To amount:$7066.00 USD
Exchange Rate:0.7066
Total Cost:0.88% (against AUD/USD mid-rate: 0.7129)
Timestamp:
Rate Fetched: Mon Oct 15 2018 08:00:05 GMT+0000 (UTC)
Rating:
 
: 4.8/5.0
Reviews:
HSBC: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6917.61 USD
Exchange Rate:0.6928
Total Cost:2.97% (against AUD/USD mid-rate: 0.7129)
Difference:
$148 USD less than using OFX
Timestamp:
Rating:
: /5.0
Reviews:
Bank of Queensland: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6858.36 USD
Exchange Rate:0.6879
Total Cost:3.8% (against AUD/USD mid-rate: 0.7129)
Difference:
$208 USD less than using OFX
Timestamp:
Rating:
 
: 3/5.0
Reviews:
Citibank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6856.76 USD
Exchange Rate:0.6865
Total Cost:3.82% (against AUD/USD mid-rate: 0.7129)
Difference:
$209 USD less than using OFX
Timestamp:
Rating:
: /5.0
Reviews:
ANZ Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6841.66 USD
Exchange Rate:0.6854
Total Cost:4.03% (against AUD/USD mid-rate: 0.7129)
Difference:
$224 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:03:04 GMT+0000 (UTC)
Rating:
 
: 3/5.0
Reviews:
 
NAB: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6806.99 USD
Exchange Rate:0.6822
Total Cost:4.52% (against AUD/USD mid-rate: 0.7129)
Difference:
$259 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:05:03 GMT+0000 (UTC)
Rating:
 
: 2.1/5.0
Reviews:
 

Banks - Average Rate
NAB logo Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo Bank of Queensland logo HSBC logo Bank of Melbourne logo BankSA logo

Banks - Average Rate :
From amount:$10,000 AUD
To amount:$6787.58 USD
Exchange Rate:0.7006
Total Cost:4.79% (against AUD/USD mid-rate: 0.7129)
Difference:
$278 USD less than using OFX
BankSA: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6723.52 USD
Exchange Rate:0.6737
Total Cost:5.69% (against AUD/USD mid-rate: 0.7129)
Difference:
$342 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
Westpac: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6722.53 USD
Exchange Rate:0.6736
Total Cost:5.7% (against AUD/USD mid-rate: 0.7129)
Difference:
$343 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:04:04 GMT+0000 (UTC)
Rating:
 
: 2/5.0
Reviews:
Bank of Melbourne: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6722.85 USD
Exchange Rate:0.6737
Total Cost:5.7% (against AUD/USD mid-rate: 0.7129)
Difference:
$343 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
Commonwealth Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6720.97 USD
Exchange Rate:0.6725
Total Cost:5.72% (against AUD/USD mid-rate: 0.7129)
Difference:
$345 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:02:01 GMT+0000 (UTC)
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6704.56 USD
Exchange Rate:0.6718
Total Cost:5.95% (against AUD/USD mid-rate: 0.7129)
Difference:
$361 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
 
: 1/5.0
Reviews:
 
Sending a LARGER foreign transfer? Request a free multiple-vendor quote: Get Quotes
* Cost = exchange rate margin + fees vs AUD/USD mid-rate: 0.7129
Rates @ 10/15/2018
Sending Money Abroad with Westpac Compared
 

Travel Money - Westpac Rates & Fees Compared

Compare Travel Money Exchange Rates vs the Banks

AUD $1,000 → Spend U.S. dollar (USD)

ProviderSpend Amount AUDExchange RateCostReviewsLinks to Offers
Travelex Online AU logoTravelex Online AU
$691.40 USD
Top Provider
0.69143.02%
 
HSBC logoHSBC
$684.50 USD
$6.9 less
0.68453.98%
ANZ Bank logoANZ Bank
$678.55 USD
$13 less
0.68544.82%
 
Citibank logoCitibank
$674.19 USD
$17 less
0.6815.43%
Commonwealth Bank logoCommonwealth Bank
$673.70 USD
$18 less
0.68055.5%
 
Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo HSBC logo NAB logo Bank of Melbourne logo BankSA logo
$671.79 USD
$20 less
0.67895.77%
NAB logoNAB
$671.52 USD
$20 less
0.67835.8%
 
St George Bank logoSt George Bank
$669.60 USD
$22 less
0.67986.07%
 
Westpac logoWestpac
$666.86 USD
$25 less
0.67366.46%
 
Bank of Melbourne logoBank of Melbourne
$663.59 USD
$28 less
0.67376.92%
BankSA logoBankSA
$663.59 USD
$28 less
0.67376.92%
Travelex Online AU: rate, rating & reviews
From amount:$1,000 AUD
To amount:$691.40 USD
Exchange Rate:0.6914
Total Cost:3.02% (against AUD/USD mid-rate: 0.7129)
Fees:0
Timestamp:
Rate Fetched: Mon Oct 15 2018 08:00:04 GMT+0000 (UTC)
Rating:
 
: 4.3/5.0
Reviews:
HSBC: rate, rating & reviews
From amount:$1,000 AUD
To amount:$684.50 USD
Exchange Rate:0.6845
Total Cost:3.98% (against AUD/USD mid-rate: 0.7129)
Fees:$0
Timestamp:
Rating:
: /5.0
Reviews:
ANZ Bank: rate, rating & reviews
From amount:$1,000 AUD
To amount:$678.55 USD
Exchange Rate:0.6854
Total Cost:4.82% (against AUD/USD mid-rate: 0.7129)
Fees:$10
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:03:04 GMT+0000 (UTC)
Rating:
 
: 3/5.0
Reviews:
Citibank: rate, rating & reviews
From amount:$1,000 AUD
To amount:$674.19 USD
Exchange Rate:0.6810
Total Cost:5.43% (against AUD/USD mid-rate: 0.7129)
Fees:$10
Timestamp:
Rating:
: /5.0
Reviews:
Commonwealth Bank: rate, rating & reviews
From amount:$1,000 AUD
To amount:$673.70 USD
Exchange Rate:0.6805
Total Cost:5.5% (against AUD/USD mid-rate: 0.7129)
Fees:$10
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:02:01 GMT+0000 (UTC)
Rating:
 
: 1.2/5.0
Reviews:
 

Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo HSBC logo NAB logo Bank of Melbourne logo BankSA logo

Banks - Average Rate :
From amount:$1,000 AUD
To amount:$671.79 USD
Exchange Rate:0.6810
Total Cost:5.77% (against AUD/USD mid-rate: 0.7129)
Fees:$10
 
NAB: rate, rating & reviews
From amount:$1,000 AUD
To amount:$671.52 USD
Exchange Rate:0.6783
Total Cost:5.8% (against AUD/USD mid-rate: 0.7129)
Fees:$10
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
 
: 2.1/5.0
Reviews:
St George Bank: rate, rating & reviews
From amount:$1,000 AUD
To amount:$669.60 USD
Exchange Rate:0.6798
Total Cost:6.07% (against AUD/USD mid-rate: 0.7129)
Fees: Minimum 15 AUD
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
 
: 1/5.0
Reviews:
Westpac: rate, rating & reviews
From amount:$1,000 AUD
To amount:$666.86 USD
Exchange Rate:0.6736
Total Cost:6.46% (against AUD/USD mid-rate: 0.7129)
Fees:$10
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:04:04 GMT+0000 (UTC)
Rating:
 
: 2/5.0
Reviews:
Bank of Melbourne: rate, rating & reviews
From amount:$1,000 AUD
To amount:$663.59 USD
Exchange Rate:0.6737
Total Cost:6.92% (against AUD/USD mid-rate: 0.7129)
Fees: Minimum 15 AUD
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
BankSA: rate, rating & reviews
From amount:$1,000 AUD
To amount:$663.59 USD
Exchange Rate:0.6737
Total Cost:6.92% (against AUD/USD mid-rate: 0.7129)
Fees: Minimum 15 AUD
Timestamp:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Request a free multiple-vendor quote: Get Quotes
* Cost = exchange rate margin + fees vs AUD/USD mid-rate: 0.7129
Rates @ 10/15/2018
Westpac Travel Money Rates Compared
 

Westpac exchange rates basics

Westpac offers several foreign exchange services for the convenience of its clients. Their most sought after products include cash, Travel cards, and International Money Transfers. Although you might feel overwhelmed when you hear terms like foreign exchange rates, international money transfer, loading travel card and so on, you need not worry.

This article will help you gain an insight into the seemingly complex world of foreign exchange rates. Soon, you’ll be able to understand and compare the Westpac exchange rates for Travel Money (cash), Travel Cards and International Money Transfers. As a result, you will learn to:

  • Find the right exchange rate as per your need
  • To calculate currency conversion by using the exchange rates
  • Compare the Westpac exchange rates to the rest of the options available
Westpac FX screenshot
Westpac FX website

Components that decide exchange rates

In broad terms, exchange rate refers to the value of currency for conversion into another currency. There are three main factors, which decide the exchange rates. They are:

  • The currency itself
  • Type of transaction – buy or sell
  • Product purchased (cash, travel card or bank transfer) Let’s now consider each of these factors in detail.

Before you proceed further, take a look at the table below. It lists the exchange rates of various currencies on a given day.




Calculating Westpac Exchange Rates

As you have understood the determinants of exchange rates, let’s take it a bit further and see how you can find answers to some common questions raised while calculating the exchange rates.




So, you’ve now seen that currency conversion calculation is easy. All you have to do is match your product with the right exchange rate. In general, the rule would be:

  • To convert AUD into foreign currency, multiply it by the exchange rate
  • To convert foreign currency into AUD, divide it by the exchange rate

In this context, you should also remember that the exchange rates vary across the currencies, type of products and the type of transaction. You can use a combination of products to make the best of the rates. Also, it is always better to get your currencies converted at the branch.

For more information on Westpac exchange rates and international travel and transfer services visit Westpac here

Related Posts

Reviews - Average Rating: 1.2

4 Reviews for “Westpac Exchange Rates”

  1. Raj Mavath says:

    I would like transfer funds to UAE in Dirhams.
    There is no drop down provisions on the internet for Dirhams

    Exchange Rates 1
    Customer Service 1
    Ease of Use 1
  2. Dave Traveller says:

    Consistently the worst exchange rates and fees. I lived overseas in Thailand for 6 months, and had to withdraw from my Westpac account often. Cost me a lot of money, therefore I would always look elsewhere for ways to deal with foreign exchange in the future. Poor form Westpac.

    Exchange Rates 1
    Customer Service 1
    Ease of Use 1
  3. greg says:

    We made 4 transactions, was stung with 8 lots of fees resulting in an incorrect amount arriving at the destination and with the terrible exchange rate the hole thing is costing me more than $600 extra and leaving me with $100 more to send which will cost $145 after all the fees. over all a terrible experience.

    Exchange Rates 0.5
    Customer Service 1.5
    Ease of Use 1
  4. fish5 says:

    Used Westpac to send money to South Africa the rate was ok but ended up paying some correspondant and intermediary fees so the amount that arrived in SA wasn’t what I expected

    Exchange Rates 1.5
    Customer Service 1
    Ease of Use 3

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