Money Transfer to and from Banks in Australia

Last updated: Tuesday, January 12, 2010

Banks offer a variety of options for your money transfer needs. Sending money to overseas destinations or within Australia is easier when you know which bank offers better rates. This report compares bank charges and fees for inward and outward remittances. For options beyond banks, our report covering international money transfer service providers is a must read.

note All charges mentioned in this report are in Australian Dollar.
We highly recommend that you read our guide on how best to transfer money and find out about hidden charges and poor rates your transfers may incur.

Australia and New Zealand Bank (ANZ)

SWIFT Code: ANZBAU3M
Enquiry: 13 13 14

  • Telegraphic Transfer (SWIFT):
    Outward   online $24   phone $32   branch $32
    Inward
       To account - $12
       To other bank - $20
       Unconverted to other bank - $35
  • International Cheque/Bankers Draft (DRAFT):
    Outward   online $25   phone $30   branch $30
    Inward
       Payable overseas - $50
       Under $100 - Nil
    Payable in Australia - $35

SWIFTrank 3
DRAFTrank 2

Bank of Queensland

SWIFT Code: QBANAU4B
Enquiry: 13 72 72

  • Telegraphic Transfer (SWIFT):
    Outward - $30
    Inward - $10
  • International Cheque/Bankers Draft (DRAFT):
    Outward $15 -
    Inward - free
    Inward (in foreign currency) - $7
  • Local Transfer (RTGS):
    Outward - $30
    Inward - $10

SWIFTrank 2
DRAFTrank 3
RTGSrank 1

Bendigo and Adelaide Bank

SWIFT Code: BENDAU3B
Enquiry: 1300 366 666

  • Telegraphic Transfer (SWIFT):
    Outward - $30 ($15 for shareholders)
    Inward - $10
  • International Cheque/Bankers Draft (DRAFT):
    Outward - $10 - ($5 for shareholders)
  • Local Transfer (RTGS):
    Outward - $30 ($15 for shareholders)
    Inward - $2

SWIFTrank 2
DRAFTrank 4
RTGSrank 1

Citibank

SWIFT Code: CITIAU2
Enquiry: 13 24 84

  • Telegraphic Transfer (SWIFT):
    Outward - $25
    Inward - $25
    Currency Conversion Charge 2.5%
  • Bankers Draft (DRAFT): Outward - $15
  • Local Transfer (RTGS):
    Outward
       In AU$ - $10
    Inward
       In AU$ - Nil
       In other currency - $25
  • International Cheque (IC): Outward - $30

SWIFTrank 3
DRAFTrank 3
RTGSrank 3
ICrank 3

Commonwealth Bank

SWIFT Code: CTBAAU2S
Enquiry: 13 22 21

  • Telegraphic Transfer (SWIFT):
    Outward
       Account holders - $28
       Others - $32
  • International Cheque/Bankers Draft (DRAFT):
  • Local Transfer (RTGS):
    Outward
       Account holders - $3.50
       Others - $10
       plus $2 per $100 cash.

SWIFTrank 3
DRAFTrank 0
RTGSrank 4

HSBC

SWIFT Code: HKBAAU2S
Enquiry: 1300 308 008

  • Telegraphic Transfer (SWIFT):
    Outward   online $20   branch $25
    Inward
       From overseas HSBC account - $20
       Paid in cash - $50
       Paid by bank cheque - $50
  • International Cheque/Bankers Draft (DRAFT):
    Outward - $18
    Inward
       Issued by HSBC Group offices - $10
       Issued by other banks - $20
  • Local Transfer (RTGS):
    Outward   online $20   branch $25
    Inward
       Credited to HSBC account - $10
       Paid in cash - $15

SWIFTrank 3
DRAFTrank 2
RTGSrank 2

National Australia Bank (NAB)

SWIFT Code: NATAAU33033
Enquiry: 13 22 65

  • Telegraphic Transfer (SWIFT):
    Outward   online $22   branch $30   fax $35
  • International Cheque/Bankers Draft (DRAFT):
    Outward
       Drawn on banks with currency arrangement with NAB - $15
       Drawn on banks without currency arrangement with NAB - $25
  • Local Transfer (RTGS):
    Outward
       To NAB Account - Free
       To Other Bank - $5 (Account-holder), $15 (Other)
       Cash Handling Fees - Free (Account-holder), 1.5% min. $1 (Other)

SWIFTrank 3
DRAFTrank 3
RTGSrank 3

St. George Bank

SWIFT Code: SGBLAU2S
Enquiry: 13 33 30

  • Telegraphic Transfer (SWIFT):
    Outward   online $20   branch $30
    Inward
       Credited to account - $15
       Credited to other bank - $38
  • Bankers Draft (DRAFT):
    Outward - $20
    Inward - $40
  • International Cheque (IC):
    Outward   online $6   branch $6
    Inward - $40

SWIFTrank 3
DRAFTrank 2
ICrank 3

State Bank of India - Sydney (limited to India)

SWIFT Code: SBINAU2S

  • Cash Deposit to SBI's Account in NAB (CD): $15 (plus 0.25% cash handling fee)
  • Cheque Deposit (CH): $15
  • Direct Debit (DD): $15

CDrank 3
CHrank 3
DDrank 3

Teachers Credit Union

SWIFT Code: CUSCAU2SXXX
SWIFT Bank: CUSCAL
Enquiry: 13 12 21

  • Telegraphic Transfer (SWIFT):
       $25 (foreign currency)
       $40 (Australian Dollar)
  • Bankers Draft (DRAFT): $15 (issued by Amex)

SWIFTrank 2
DRAFTrank 2

Westpac

SWIFT Code: WPACAU2S
Enquiry: 13 20 32

  • Telegraphic Transfer (SWIFT):
    Outward   online $20   branch $30
    Inward
       Credited to account - $10
       Paid by cash or cheque - $20
       Credited to other bank - $30
  • International Cheque/Bankers Draft (DRAFT):
    Outward
       Westpac customer - $25
       Others - $30
    Inward
       Negotiated - $20
       For collection - $50

SWIFTrank 3
DRAFTrank 2

online Online   phone Phone   branch Branch   fax Fax (Letter of Authority)
† SWIFT - Society for Worldwide Interbank Financial Telecommunication.
‡ RTGS - Real Time Gross Settement.

Learn more about SWIFT BIC, IBAN, BPAY and RTGS.

Feedback, suggestions, comments....