Westpac review
3.4Est. 1817
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.
Countries
200+
Currencies
50+
Speed
2-5 business days
Fees
$8-$20 per transfer
Westpac overview
Founded in 1817 and based in Sydney, Australia, Westpac is a high-street bank. Westpac's regulators: APRA, ASIC.
Across the 13 corridors we track for Westpac, its median rate sits 3.83% from mid-market — compare that with the 3% - 5% above mid-market it publishes.
Pros
- Trusted Australian bank
- Easy for existing customers
Cons
- High exchange rate markup (3-5%)
- Transfer fees ($8-$20)
- Slow compared to specialists
Westpac features
Online banking
Westpac app
Westpac transfer details
HeadquartersSydney, Australia
RegulatedYes
RegulatorsAPRA, ASIC
Min Transfer$1
Max Transfer$100,000
Payment MethodsBank Transfer
Delivery MethodsBank Deposit
Exchange Rate Markup3% - 5% above mid-market
Published by Westpac. Not measured by us; Westpac’s limits and methods vary by country.
Compare Westpac
Westpac head-to-heads
Westpac vs Remitly→Westpac vs OFX→Westpac vs XE Money Transfer→Westpac vs Western Union→
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Comparisons
- Westpac vs Remitly
- Westpac vs OFX
- Westpac vs XE Money Transfer
- Westpac vs Western Union