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Understanding the Table:
The comparison table above helps you see the total cost of your NAB currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Like all the leading banks, NAB (National Australia Bank) offers a wide range of currency related products and services to its customers. If you are a customer of NAB and use internet banking to transfer money overseas then you will be interested to learn how NAB exchange rates compare to other providers.
* You must be a customer of NAB Bank to use their exchange currency services.
International transfers sent in Australian dollars using the NAB app or NAB Internet Banking incur a $30 transfer fee. International transfers made at a NAB branch (sent in Australian dollars or foreign currency) incur a $30 transfer fee.
In 2022, NAB (National Australia Bank) announced their acquisition of the Citi consumer banking business in Australia.
If you previously had a Citi branded deposit, home loan or investment account, your account was closed, and balance transferred to your NAB branded account on 24 February 2024.
You can manage your foreign transfers through NAB Internet Banking or the NAB app where NAB exchange rates will now apply.
The NAB AUD to USD exchange rate is 0.6157. This is -6% compared to the latest AUD-USD mid-market rate 0.6551.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Australian dollar (AUD) to US dollar (USD) rates from different sources before making a conversion.
The above NAB - Aussie to Dollar comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by NAB and other foreign exchange providers against the latest AUD-USD mid-rate and the possible savings of using various providers.
Looking at the full AUD to USD - Send Money comparison table the provider with the best AUD to USD exchange rate is OFX at 0.6518, -0.5% from the latest mid-market rate 0.6551.
The next best is XE at 0.6512, -0.6% from the mid-rate.
Then Wise at 0.6509, which is -0.64% from the mid-rate.
The Western Union rate is 0.6486 which is -0.99% from the mid-rate.
Among the banks the Commonwealth Bank rate is 0.6321 at -3.5% the ANZ Bank rate is 0.6339 at -3.2% and the ING Bank rate is 0.6328 at -3.4% compared to the mid-rate 0.6551.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like NAB often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
