Westpac review

Westpac is one of Australia's big four banks, offering international money transfers through online banking. Exchange rates carry significant markups compared to specialist providers. Founded in 1817 and based in Sydney, Australia, Westpac is a high-street bank. Westpac is authorised and regulated by APRA, ASIC, which means customer money is safeguarded separately from company funds.

On the fee side, expect $8-$20 per transfer, but the bigger cost is usually the exchange-rate markup of 3% - 5% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $100,000 per transaction. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

Delivery speed is quoted at 2-5 business days, and the service reaches 200+ countries across 50+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors Westpac handles best.

On the plus side: trusted australian bank and easy for existing customers. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. Worth keeping in mind: high exchange rate markup (3-5%) and transfer fees ($8-$20). As always, run your exact amount and currency through a live comparison before sending — the provider you pick usually affects the final amount more than any single fee.