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Best Exchange Rates

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ANZ Exchange Rates

In this article we take a look at ANZ Bank exchange rates and focus on how their foreign exchange services compare to the best available.


Exchange Rates 2.1
Customer Service 2.4
Ease of Use 1.9

ANZ Bank Exchange Rates Guide – Are ANZ customers getting a good deal?

If you are a customer of ANZ and are using ANZ Internet Banking to send money abroad then you should definitely read on where you will learn about:

 

How do ANZ Bank Exchange AUD Rates Compare?

ANZ Bank Foreign Transfers

Compare AUD to USD Foreign Transfers vs ANZ Bank ANZ Bank logo

ProvidersAmount USD($)Exchange RateFee AUDTotal CostTransfer SpeedTransfer ServicesReviewsDeal Links
OFX (OzForex) logo
7117.00 USD0.71170^0.74%1-2 daysOnline, Bank Account to Bank Account
 
TorFX logo
7114.00 USD0.711400.78%1-2 daysOnline, Bank Account to Bank Account
 
ANZ Bank logo
6968.43 USD0.6981182.81%2-3 daysOnline, Branch, Bank Account to Bank Account
 
BankSA
BankSA logo
6905.16 USD0.691920.013.69%2-3 daysOnline, Branch, Bank Account to Bank Account
Bank of Melbourne
Bank of Melbourne logo
6904.47 USD0.6919213.7%2-3 daysOnline, Branch, Bank Account to Bank Account
Bank of Queensland logo
6898.24 USD0.6919303.79%2-3 daysOnline, Branch, Bank Account to Bank Account
 
National Australia Bank (nab) logo
6857.88 USD0.6873224.35%2-3 daysOnline, Branch, Bank Account to Bank Account
 
Average Rate:
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
6854.50 USD0.6868154.4%2-3 daysOnline, Branch, Bank Account to Bank Account
Commonwealth Bank (CBA) logo
6797.92 USD0.68026 5.19%2-3 daysOnline, Branch, Bank Account to Bank Account
 
St George Bank logo
6781.41 USD0.6795205.42%2-3 daysOnline, Branch, Bank Account to Bank Account
 
Westpac logo
6722.53 USD0.6736206.24%2-3 daysOnline, Branch, Bank Account to Bank Account
 
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:0.7117 (0.74% from mid-rate)
USD amount:7117.00 USD
Total Cost:0.74%
Time:
Rate Fetched: Fri Dec 14 2018 08:00:04 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Online, Bank Account to Bank Account
Rating:
 
: 4.8/5.0
Reviews:
TorFX: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:0.7114 (0.78% from mid-rate)
USD amount:7114.00 USD
Total Cost:0.78%
Difference:
USD3 USD less than using OFX (OzForex)
Time:8:35 Local
Transfer Speed:1-2 days
Services:Online, Bank Account to Bank Account
Rating:
 
: 4.7/5.0
Reviews:
ANZ Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:18
Exchange Rate:0.6981 (2.64% from mid-rate)
USD amount:6968.43 USD
Total Cost:2.81%
Difference:
USD149 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Fri Dec 14 2018 08:03:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
 
: 3/5.0
Reviews:
BankSA: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:0.6919 (3.5% from mid-rate)
USD amount:6905.16 USD
Total Cost:3.69%
Difference:
USD212 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 8:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
Bank of Melbourne: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:21
Exchange Rate:0.6919 (3.5% from mid-rate)
USD amount:6904.47 USD
Total Cost:3.7%
Difference:
USD213 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 8:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
: /5.0
Reviews:
Bank of Queensland: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:30
Exchange Rate:0.6919 (3.5% from mid-rate)
USD amount:6898.24 USD
Total Cost:3.79%
Difference:
USD219 USD less than using OFX (OzForex)
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
 
: 3/5.0
Reviews:
National Australia Bank (nab): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:0.6873 (4.14% from mid-rate)
USD amount:6857.88 USD
Total Cost:4.35%
Difference:
USD259 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Fri Dec 14 2018 08:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
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:0.7057 (1.58% from mid-rate)
USD amount:6854.50 USD
Total Cost:4.4%
Difference:
USD262 USD less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Commonwealth Bank (CBA): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:0.6802 (5.13% from mid-rate)
USD amount:6797.92 USD
Total Cost:5.19%
Difference:
USD319 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Fri Dec 14 2018 08:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6795 (5.23% from mid-rate)
USD amount:6781.41 USD
Total Cost:5.42%
Difference:
USD336 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 8:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
 
: 1/5.0
Reviews:
Westpac: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6736 (6.05% from mid-rate)
USD amount:6722.53 USD
Total Cost:6.24%
Difference:
USD394 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Fri Dec 14 2018 08:04:05 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Account to Bank Account
Rating:
 
: 2/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/14/2018.
Total Cost = Fee + exchange rate margin vs AUD/USD mid-rate: 0.7170
Foreign Transfers Table - ANZ Compared
 

ANZ Travel Money

Compare AUD to USD Travel Money Exchange Rates vs ANZ Bank ANZ Bank logo

ProvidersAmount USD($)Exchange RateFee AUDTotal CostReviewsDeal Links
Travelex Online AU logo
700.20 USD
Top Provider
0.7002$0 BPay2.34%
 
Travel Money Oz logo
699.50 USD
USD0.7 less
0.6995$0 BPay, Credit Card 1%2.44%
 
ANZ Bank logo
691.12 USD
USD9.08 less
0.6981$103.61%
 
Bank of Melbourne
Bank of Melbourne logo
681.52 USD
USD19 less
0.6919$154.95%
BankSA
BankSA logo
681.52 USD
USD19 less
0.6919$154.95%
Commonwealth Bank (CBA) logo
680.92 USD
USD19 less
0.6878$105.03%
 
Average Rate:
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
678.68 USD
USD22 less
0.6870105.34%
St George Bank logo
676.79 USD
USD23 less
0.6871$155.61%
 
National Australia Bank (nab) logo
672.01 USD
USD28 less
0.6788106.27%
 
Westpac logo
666.86 USD
USD33 less
0.6736$106.99%
 
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&percent; Visa credit
Exchange Rate:0.7002 (2.34% from mid-rate)
USD amount:700.20 USD
Total Cost:2.34%
Time:
Rate Fetched: Fri Dec 14 2018 08:00:04 GMT+0000 (UTC)
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:0.6995 (2.44% from mid-rate)
USD amount:699.50 USD
Total Cost:2.44%
Time:
Rate Fetched: Fri Dec 14 2018 08:00:05 GMT+0000 (UTC)
Rating:
 
: 4.2/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6981 (2.64% from mid-rate)
USD amount:691.12 USD
Total Cost:3.61%
Time:
Rate Fetched: website - Fri Dec 14 2018 08:03:04 GMT+0000 (UTC)
Rating:
 
: 3/5.0
Reviews:
Bank of Melbourne: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6919 (3.5% from mid-rate)
USD amount:681.52 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
BankSA: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6919 (3.5% from mid-rate)
USD amount:681.52 USD
Total Cost:4.95%
Time:
Rate Fetched: website - 8:35 Local
Rating:
: /5.0
Reviews:
Commonwealth Bank (CBA): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6878 (4.07% from mid-rate)
USD amount:680.92 USD
Total Cost:5.03%
Time:
Rate Fetched: website - Fri Dec 14 2018 08:02:02 GMT+0000 (UTC)
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:0.6815 (4.95% from mid-rate)
USD amount:678.68 USD
Total Cost:5.34%
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6871 (4.17% from mid-rate)
USD amount:676.79 USD
Total Cost:5.61%
Time:
Rate Fetched: website - 8:35 Local
Rating:
 
: 1/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6788 (5.33% from mid-rate)
USD amount:672.01 USD
Total Cost:6.27%
Time:
Rate Fetched: website - 8:35 Local
Rating:
 
: 2.1/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (6.05% from mid-rate)
USD amount:666.86 USD
Total Cost:6.99%
Time:
Rate Fetched: website - Fri Dec 14 2018 08:04:05 GMT+0000 (UTC)
Rating:
 
: 2/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/14/2018.
Total Cost = Fee + exchange rate margin vs AUD/USD mid-rate: 0.7170
Travel Money (Buy Foreign Cash) Table - ANZ Compared
 

The live tables above will give you an indication of how ANZ Bank exchange rates compare to an alternative FX provider. At the time of writing (16/04/18), the exchange rate margin that ANZ was showing for Foreign Transfers was 4.05%. The margin indicates the amount above the mid-rate (i.e. the rate at which the banks interchange with each other). The cheapest alternative for Foreign Transfers (OFX) at the time of writing was showing a margin of 1.43%, meaning if you had changed $10,000 for EUR with OFX, you would have received EUR165 more than if you had made the exchange with ANZ.So, what about the other exchange rates services that ANZ offers, are they so much better that it makes the higher cost of transfer worth while?

The key benefit that your bank offers to it’s existing customers, is the knowledge that you are transferring with a familiar brand. They already have all your details so there will be no need to complete any additional forms or undergo any further customer verification or security checks. With that in mind, if you are making a one-off international money transfer, where the amount to be exchanged is sufficiently low for the difference in cost to be acceptable to you, then going with your bank could be the way to go for you.

If, however, you are making a substantial or intend to make regular international money transfers, then securing the lowest exchange rate ongoing, will be more critical, as will expertise in the foreign exchange market. The FX specialists that we list on our site are registered and regulated organisations with a strong history of servicing the Foreign transfer and Travel money market.

An FX specialist has resoures that are dedicated to foreign transfers so they will likely be able to offer you advice and guidance as to the type of contract (for example a Spot or Forward contract) that would best suit your situation.

The Main Points:

  • ANZ provides extensive foreign exchange services including foreign transfers and holiday money. FX specialists generally specialise in Foreign Transfers or Travel money;
  • Products available both in-branch and online via their online banking platform. FX specialists will have a stronger online presence but you will be able to talk to a dedicated Foreign Transfer specialist, and for regular or large transfers, you may have an account manager;
  • ANZ Bank exchange rates are generally poor compared to using an FX specialist.
  • Bad exchange rates need to be weighed up against ease of use.
  • On occasion ANZ can offer very good rates especially for Asia currencies.

Exchange rates are something that often worries a traveller planning to travel abroad. Despite the easy availability of travel cards and other facilities, there could be occasions when you will need to carry cash with you. Even if you aren’t keen on knowing it all in detail, a little awareness of the exchange rates could go a long way in helping you choose the best option – cash, use a travel card or make an international money transfer to pay for an organised tour or accomodation cost.

Understanding ANZ Bank exchange rates made easy

To start with, it is common knowledge that ANZ offers its customers a wide range of currency related products and services. This is an attempt to throw more light on the ANZ Bank exchange rates. The aim is to explain and compare the various exchange rates provided for options like Travel Money (cash), Travel Cards and International Money Transfers (IMT).

When you hear the word exchange rate, you might feel a bit lost and confused. However, it becomes easy to understand the exchange rates when you know a few details. For instance, an exchange rate depends on various factors like:

  • The currency you need
  • Transaction – whether you wish to buy or sell the currency
  • The type of product – Travel Money, a Travel Card or International money transfer
A snapshot of the ANZ exchange rate chart
ANZ Bank exchange rates table example

Let’s now use this chart to understand the currencies, transaction type, exchange rates and their calculation that applies in your situation:



How do you calculate currency conversions?

Once you’ve matched your product with the right exchange rate, it is time for currency conversion calculation. The general rule of thumb would be:

  • Convert AUD into foreign currency by multiplying it by the rate
  • Convert foreign currency into AUD by dividing it by the rate

Here are some of the conversion calculations you can resort to in various situations:





As you can see from above, you can see that it is fairly simple but tedious to find the exchange rates that apply to you so we recommend you can use our calculators. The main point to remember is that there would be slight changes in rates depending on the type of product you wish to buy/sell. Also, it is worth remembering that not all products and services are available across all currencies and the rates will be different at ANZ Foreign Exchange centres.

Now that you know about ANZ Exchange rates, you can make diligent currency buying decisions. If you need more information or what to see the current ANZ exchange rates are at their website for comparison,please click here

Related Posts

Reviews - Average Rating: 2.1

15 Reviews for “ANZ Exchange Rates”

  1. Steve Greig says:

    By far the best exchange rate for Fiji dollar compared to any bank or exchange agent. And I did shop around.

    Exchange Rates 5
    Customer Service 3
    Ease of Use 0
  2. Victoria Dennis says:

    ANZ foreign exchange was excellent.
    Just a quick phone call to their dedicated foreign exchange number (1800 35 25 35) and I had ordered my FJD currency in no time at all! Was advised it would be delivered to my local bank in 3 business days – it got there in 2!
    ANZ also waived their exchange fee on FJD due to cyclone Winston – great job ANZ 🙂

    PS. You have to be an ANZ customer

    Exchange Rates 4
    Customer Service 3
    Ease of Use 3
  3. Rhiannon says:

    Did not stock cash…
    The ladies at ANZ said the bank does not stock INR as it was illegal to take into the county, even after showing them the bank of India statement saying that was not the case. So I left empty handed.

    Exchange Rates 2
    Customer Service 3
    Ease of Use 1
  4. ANZ customer says:

    The rates for transfers shown here and advertised at ANZ.com are at least 1% better than actually offered via internet banking, can someone look at this please?

    Exchange Rates 1
    Customer Service 1
    Ease of Use 1
    1. BER Team says:

      Hi we have now setup a BER page where customers of Banks and Financial institution can report accuracy of exchange rates.

  5. Glenda says:

    anz is not content with having customers, they have the need to squeeze as much as possible from them. I try very hard to always use the Australian Post Office service for my international exchanges, they have no fees.

    Exchange Rates 1
    Customer Service 1.5
    Ease of Use 1
    1. admin says:

      Hi Glenda, thanks for your post. Australia post don’t have fees for Buying Foreign Cash as they make money on the exchange rate they offer. Please refer to http://bestexchangerates.com/travel_money to see which vendor or bank are offering the best rates.

  6. Angela says:

    Easy to purchase foreign currency at the ANZ bank near international check-in at Melbourne Airport. Shop around though. I used ANZ to buy Fijian currency, and by far they had the best over all exchange rate. Used bestexchangerates.com.au to find currency rates. ANZ do charge a cost for non ANZ account holders to buy foreign currencies though. The staff were helpful. I am not an ANZ account holder and I was happy with the overall experience.

    Exchange Rates 3
    Customer Service 4
    Ease of Use 4
  7. Janne says:

    ANZ dont want foreign exchange business. Tried to open an account as I am with ANZ but was told only for businesses, then had a $ 25 p.m. charge and finally that there is no online access. Couldn’t make it any more difficult could they!

    Exchange Rates 1
    Customer Service 1
    Ease of Use 1
  8. Maria says:

    Don’t use the foreign exchange atm unless you are desperate, as they have lower rate than advertised on Internet for over the counter.

    Exchange Rates 2
    Customer Service 2
    Ease of Use 2
  9. Paul B says:

    I just love ANZ, the staff are always so friendly especially the dealers that we call through to always help us with all of our FX needs. ANZ ANZ ANZ

    Exchange Rates 0
    Customer Service 5
    Ease of Use 0
  10. brett says:

    not happy with the rate,staff would not or could not negotiate,far too much margin and will hurt the other way back

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

    Poor USD rate on the day I went in to exchange

    Exchange Rates 0.5
    Customer Service 2
    Ease of Use 2.5
  12. Jill says:

    Excellent service, good exchange rate for CNY

    Exchange Rates 4
    Customer Service 3
    Ease of Use 3
  13. peachie says:

    Had no Samoa Tala the day I visited

    Exchange Rates 1
    Customer Service 2
    Ease of Use 1

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