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Westpac Exchange Rates

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:

Foreign Transfers - How does Westpac Rates & Fees Compare?

Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Westpac - Compare Foreign Transfers

Sending AUD 10,000 to USD

 OFX
1AUD=0.7567USD
$7567.00 USD (1.07%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $7567.00 USD
Exchange Rate: 0.7567
(Inverse 1USD=AUD 1.3215)
Fees: AUD 0
Total Cost : 1.07% (from mid-rate: 0.7649)
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7567 and inclusive of the fee of AUD 0.
Rate timestamp : Mon Apr 23 2018 07:00:03 GMT+0000 (UTC)
 ANZ Bank
1AUD=0.7403USD
$7389.67 USD (3.39%)
Rate available to ANZ Online Banking customers only. Fee for transfers via ANZ Internet Banking is $18 (or $12 if the transfer is over $AUD10,000) in ANZ Foreign Exchange Centre or via ANZ Phone Banking fee is $32.
Price Details
Receive: $7389.67 USD
Exchange Rate: 0.7403
(Inverse 1USD=AUD 1.3508)
Fees: AUD 18
Total Cost : 3.39% (from mid-rate: 0.7649)
Receive USD $177 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7403 and inclusive of the fee of AUD 18.
Rate timestamp : Mon Apr 23 2018 07:03:04 GMT+0000 (UTC)
 Bank of Queensland
1AUD=0.7381USD
$7358.86 USD (3.79%)
Rate available to Bank of Queensland Online Banking customers only.
Price Details
Receive: $7358.86 USD
Exchange Rate: 0.7381
(Inverse 1USD=AUD 1.3548)
Fees: AUD 30
Total Cost : 3.79% (from mid-rate: 0.7649)
Receive USD $208 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7381 and inclusive of the fee of AUD 30.
Bank Rates - Average
               
1AUD=0.7280USD
$7265.83 USD (5.01%)
This is the average AUD to USD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $7265.83 USD
Exchange Rate: 0.7491
(Inverse 1USD=AUD 1.3349)
Fees: AUD 15
Total Cost : 5.01% (from mid-rate: 0.7649)
Receive USD $301 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7280 and inclusive of the fee of AUD 15.
 Commonwealth Bank
1AUD=0.7261USD
$7256.64 USD (5.13%)
Rate available to Commonwealth Bank Online Banking customers only.
Price Details
Receive: $7256.64 USD
Exchange Rate: 0.7261
(Inverse 1USD=AUD 1.3772)
Fees: AUD 6
Total Cost : 5.13% (from mid-rate: 0.7649)
Receive USD $310 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7261 and inclusive of the fee of AUD 6 .
Rate timestamp : Mon Apr 23 2018 07:02:02 GMT+0000 (UTC)
 Westpac
1AUD=0.726USD
$7245.48 USD (5.28%)
Rate available to Westpac Online Banking customers only.
Price Details
Receive: $7245.48 USD
Exchange Rate: 0.7260
(Inverse 1USD=AUD 1.3774)
Fees: AUD 20
Total Cost : 5.28% (from mid-rate: 0.7649)
Receive USD $322 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.726 and inclusive of the fee of AUD 20.
 St George Bank
1AUD=0.7254USD
$7239.49 USD (5.35%)
Rate available to St George Bank Online Banking customers only.
Price Details
Receive: $7239.49 USD
Exchange Rate: 0.7254
(Inverse 1USD=AUD 1.3785)
Fees: AUD 20
Total Cost : 5.35% (from mid-rate: 0.7649)
Receive USD $328 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7254 and inclusive of the fee of AUD 20.
 BankSA
1AUD=0.7228USD
$7213.54 USD (5.69%)
Rate available to BankSA Online Banking customers only.
 
Price Details
Receive: $7213.54 USD
Exchange Rate: 0.7228
(Inverse 1USD=AUD 1.3835)
Fees: AUD 20.01
Total Cost : 5.69% (from mid-rate: 0.7649)
Receive USD $353 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7228 and inclusive of the fee of AUD 20.01.
 Bank of Melbourne
1AUD=0.7228USD
$7212.82 USD (5.7%)
Rate available to Bank of Melbourne Online Banking customers only.
 
Price Details
Receive: $7212.82 USD
Exchange Rate: 0.7228
(Inverse 1USD=AUD 1.3835)
Fees: AUD 21
Total Cost : 5.7% (from mid-rate: 0.7649)
Receive USD $354 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7228 and inclusive of the fee of AUD 21.
 NAB
1AUD=0.7226USD
$7210.10 USD (5.74%)
Rate available to National Australia Bank online banking customers only.
Price Details
Receive: $7210.10 USD
Exchange Rate: 0.7226
(Inverse 1USD=AUD 1.3839)
Fees: AUD 22
Total Cost : 5.74% (from mid-rate: 0.7649)
Receive USD $357 less than with   OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7226 and inclusive of the fee of AUD 22.
Sending Money Abroad with Westpac Compared
 

Travel Money - Westpac Rates & Fees Compared

Westpac Travel Money Exchange Rates Compared

Buying USD Cash with AUD 2,000

 Travelex Online
1AUD=0.747USD
$1494.00 USD (2.34%)
Click here to order Travel Money and the Pre-paid Cash Passport with $0 commission and great exchange rates only available online. Home delivery or pickup your cash at your local Travelex store, Post Office, HSBC branch or conveniently at the airport on departure day.
* Orders paid for via BPAY incur no additional fees. Card (debit or credit) will incur a card surcharge; MasterCard (debit) 0.77%, MasterCard (credit) 0.94%, Visa (debit) 0.72% and Visa (credit) 1%. In addition, for Credit Card purchases, your card issuer may charge a separate cash advance fee. For Australia post collection and home delivery orders under $AUD1,000 a $10 collection fee applies.
Price Details
Receive: $1494.00 USD
Exchange Rate: 0.7470
(Inverse 1USD=AUD 1.3387)
Fees: 0
Total Cost : 2.34% (from mid-rate: 0.7649)
Amount of money that could be received by your currency exchange at rate AUD/USD=0.747 and inclusive of the fee of 0.
Rate timestamp : Mon Apr 23 2018 07:30:03 GMT+0000 (UTC)
 ANZ Bank
1AUD=0.7403USD
$1465.79 USD (4.18%)
Foreign currency cash is charged at 1% of the AUD equivalent value for each currency purchased, with a minimum charge of AUD 8 per currency.
Price Details
Receive: $1465.79 USD
Exchange Rate: 0.7403
(Inverse 1USD=AUD 1.3508)
Fees: AUD 20 (1%)
Total Cost : 4.18% (from mid-rate: 0.7649)
Receive USD $28 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7403 and inclusive of the fee of AUD 20 (1%).
Rate timestamp : Mon Apr 23 2018 07:03:04 GMT+0000 (UTC)
 NAB
1AUD=0.7309USD
$1454.49 USD (4.92%)
The NAB in-branch travel money service is provided by Travelex.
Price Details
Receive: $1454.49 USD
Exchange Rate: 0.7309
(Inverse 1USD=AUD 1.3682)
Fees: AUD 10
Total Cost : 4.92% (from mid-rate: 0.7649)
Receive USD $40 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7309 and inclusive of the fee of AUD 10.
 Commonwealth Bank
1AUD=0.7339USD
$1453.12 USD (5.01%)
Price Details
Receive: $1453.12 USD
Exchange Rate: 0.7339
(Inverse 1USD=AUD 1.3626)
Fees: AUD 20 (1%)
Total Cost : 5.01% (from mid-rate: 0.7649)
Receive USD $41 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7339 and inclusive of the fee of AUD 20 (1%).
Rate timestamp : Mon Apr 23 2018 07:02:02 GMT+0000 (UTC)
 Westpac
1AUD=0.7338USD
$1452.92 USD (5.03%)
Price Details
Receive: $1452.92 USD
Exchange Rate: 0.7338
(Inverse 1USD=AUD 1.3628)
Fees: AUD 20 (1%)
Total Cost : 5.03% (from mid-rate: 0.7649)
Receive USD $41 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7338 and inclusive of the fee of AUD 20 (1%).
 St George Bank
1AUD=0.7332USD
$1451.74 USD (5.1%)
Price Details
Receive: $1451.74 USD
Exchange Rate: 0.7332
(Inverse 1USD=AUD 1.3639)
Fees: AUD 20 (1%)
Total Cost : 5.1% (from mid-rate: 0.7649)
Receive USD $42 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7332 and inclusive of the fee of AUD 20 (1%).
 Bank of Melbourne
1AUD=0.7228USD
$1431.14 USD (6.45%)
Please check with the BOM in-branch travel money service for their latest rates.
 
Price Details
Receive: $1431.14 USD
Exchange Rate: 0.7228
(Inverse 1USD=AUD 1.3835)
Fees: AUD 20 (1%)
Total Cost : 6.45% (from mid-rate: 0.7649)
Receive USD $63 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7228 and inclusive of the fee of AUD 20 (1%).
 BankSA
1AUD=0.7228USD
$1431.14 USD (6.45%)
 
Price Details
Receive: $1431.14 USD
Exchange Rate: 0.7228
(Inverse 1USD=AUD 1.3835)
Fees: AUD 20 (1%)
Total Cost : 6.45% (from mid-rate: 0.7649)
Receive USD $63 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7228 and inclusive of the fee of AUD 20 (1%).
Bank Rates - Average
             
1AUD=0.7311USD
$1448.62 USD (5.31%)
This is the average AUD to USD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: $1448.62 USD
Exchange Rate: 0.7339
(Inverse 1USD=AUD 1.3626)
Fees: AUD 10
Total Cost : 5.31% (from mid-rate: 0.7649)
Receive USD $45 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7311 and inclusive of the fee of AUD 10.
Rates snapshot: 04/23/2018
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

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Categories: Reviews Tags: ,

4 Reviews for “Westpac Exchange Rates”

  1. Raj Mavath says:

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

  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.

  3. greg says:

    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.

  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

    Rating: 2

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