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 New Zealand dollar (NZD) rates from different sources before making a conversion.
The above
Commonwealth Bank - Aussie to Kiwi comparison table
makes it easy to compare the Total Fees (both variable and fixed) you are being charged by
Commonwealth Bank and other foreign exchange providers against the latest AUD-NZD mid-rate and the possible savings of using various providers.
How do Commonwealth Bank AUD-NZD rates compare between providers?
Looking at the full
AUD to NZD - Send Money comparison table the provider with the best AUD to NZD exchange rate is OFX at 1.1919, -0.49% from the latest mid-market rate 1.1978.
The next best is Wise at 1.1919, -0.49% from the mid-rate.
Then XE at 1.1907, which is -0.59% from the mid-rate.
The Western Union rate is 1.1799 which is -1.5% from the mid-rate.
Among the banks the Commonwealth Bank rate is 1.1599 at -3.2% the ANZ Bank rate is 1.1706 at -2.3% and the ING Bank rate is 1.1693 at -2.4% compared to the mid-rate 1.1978.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally,
banks like Commonwealth Bank 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.
