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Westpac Exchange Rates


Exchange Rates 1
Customer Service 1.3
Ease of Use 2.2

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 AUD to USD Foreign Transfers vs Westpac Westpac 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
Sending Money Abroad with Westpac Compared
 

Travel Money - Westpac Rates & Fees Compared

Compare AUD to USD Travel Money Exchange Rates vs Westpac Westpac 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
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: 1.5

5 Reviews for “Westpac Exchange Rates”

  1. fedup says:

    Their listed exchange rates are consistently wrong, despite claims they’re “updated frequently” (they aren’t – they’re updated once in 24 hours and even then, it’s just someone’s wild ‘guestimate’ – nothing accurate about it, so don’t count on them when calculating and budgeting).

    Can they get nothing right? When you consider the political favouritism, handouts and tax perks banking institutions in Australia continuously luxuriate in (entirely unearned and most assuredly undeserved) and then combine those with their profiteering rackets of fees & charges aimed against customers like machine guns, you’d think they could, but apparently that would be far too much like hard work – and they don’t ‘do’ hard work.

    Would give minus 5 stars if negatives were available.

    Exchange Rates 1
    Customer Service 2
    Ease of Use 5
  2. 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
  3. 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
  4. 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
  5. 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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