ANZ Money Transfers

Find out more about ANZ overseas money transfers and compare offers here.

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, updated on August 18th, 2023       

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Like most banks in Australia, ANZ offers international money transfers through the international banking system. But are their exchange rates competitive? How do their transfer fees compare? Find out here if ANZ is the best option for your money transfer. Compare a range of other options, exchange rates and fees right here with Savvy to help you find the right provider for your overseas transfer.

*All product information is correct as of August, 2022.

ANZ money transfer review

About ANZ Bank

Australia and New Zealand Banking Group (ANZ) is one of Australia’s big four banks, with its headquarters in Melbourne. It’s our second-largest bank by assets and fourth-largest by market capitalisation. It now operates in 34 other countries and has over nine million customers worldwide, offering a wide range of products from banking to insurance to home loans and more.

Transfer services offered by ANZ

International money transfers

As well as foreign exchange trading through its trading platform ANZ Online, ANZ offers international money transfers to over 200 countries in more than 50 different currencies. It offers a service to transfer money from one bank account to another using the international banking system. You can either schedule the transfer yourself online through ANZ’s internet banking platform or book your transfer by phone.

Transfer limits

The amount you can send in one day is determined by your Pay Anyone bank account daily limit. For PayID payments or other payments to a BSB and account number, this limit is usually $1,000 a day unless you’ve made specific prior arrangements with the bank to increase it.

The default for BPAY payments is $10,000 for new payees and $15,000 for existing payees, but by phone arrangement, you’re able to transfer up to $49,000 internationally in a single transaction, with a daily limit of $75,000.

Speed of transfers

Transfers made through ANZ will generally take between two and four business days before the funds arrive at their destination.

Fees charged by ANZ for international transfers

Through ANZ internet banking: under $10,000

For transfers under $10,000, ANZ charges a set fee of $7 to $9 for international money transfers. The lower set fee is for transfers to a range of Pacific Island nations. This is assuming a currency conversion takes place and the transfer is sent overseas in another currency. If a transfer is sent overseas in AUD from an AUD account, the fee is $18, or $32 if the transfer is booked via phone banking.

Transfers over $10,000

ANZ waives the fee for transfers over $10,000 to Pacific Island nations if the transfer is sent in foreign currency. If it’s sent in AUD or from an international account, the fee is $7. For payments over $10,000 to all other nations, the fee is $32 if sent in AUD or from a foreign currency account.

Exchange rate markups

In addition, the bank adds a margin onto the mid-market exchange rate (which is the advertised exchange rate used by banks to transfer money on the international stage). The amount of markup added will depend on the destination country and currency involved.

Receiving bank fees

Since ANZ uses the international banking SWIFT system to transfer funds, there may also be receiving fees charged by the corresponding bank in the destination country. ANZ calls these ‘correspondent bank fees’. When you get an estimate of the cost of your transfer through ANZ’s foreign exchange calculator, it will show any receiving bank fees as a separate item called the ‘correspondent fee’ which you will have to pay as part of the overall cost of the transfer.

How do I make an international money transfer through ANZ?

To make an international money transfer:

  • log into your ANZ internet banking
  • follow the prompts to set up your transfer, including giving details of your recipient’s name, address, bank details, their IBAN, SWIFT or BIC code, and how much you wish to transfer to them
  • you'll see details of your transfer displayed in the foreign exchange calculator, including the exchange rate offered, the fees charged, any correspondent bank fees, and the total beneficiary amount (which is how much your recipient will receive into their bank account)
  • ANZ bank will hold the exchange rate for ten minutes from the time you receive your quote, to give you time to complete your transfer. If you wait longer than ten minutes, you’ll have to start again and get another exchange rate quote.
  • if you’re happy with all the transfer details, indicate how you are going to pay for your transfer and submit it
  • you'll be provided with a lodgement number and receipt number, which you should make a note of and keep safe in case there are any issues with your transfer

The pros and cons of using ANZ for your money transfer


Trustworthy service

Using any Australian bank for your international transfer is one of the most reliable ways of ensuring your transfer is successfully sent and received overseas

No need for another account or app

Using your existing ANZ Bank internet banking login to make your international money transfer means you don’t have to download another app or go to a separate website to make your transfer

High level of security

As ANZ has a high level of bank account security in place, any attempted transfers to suspicious accounts, or to those accounts which are known to be associated with phishing will be blocked


Higher fees

ANZ charges much higher fees to make an international money transfer than other companies which specialise in providing a transfer service

Poorer exchange rates

The exchange rate you are likely to be offered by ANZ bank won’t be close to the mid-market exchange rate, which is the best rate possible. This will also mean your transfer will likely prove to be more expensive than if you’d used a transfer provider.

Slower delivery

Transfers made through the international SWIFT banking system will take at least two to four business days to arrive. Same-day or instant transfers aren’t possible through ANZ.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

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