To be eligible to open a Foreign Currency Account you must hold other accounts with us. To open one, visit any Westpac branch in New Zealand and bring identification - e. List of verified documents.
Call us from overseas International toll charges apply. Foreign exchange for business Give us a call to set up a Foreign Currency Account. Things you should know.
Luckily a currency calculator could assist you. A currency calculator can work out in an instant how much money you could have if you were to switch your Australian Dollars to another currency. Currency calculators work by using the current Australian exchange rate to let you know how much you could get in another currency.
If the exchange rate is 0. Please note that the actual amount you will pay will depend on the exchange rate used at the time of payment and may include additional fees and charges depending on your payment method. Exchange rates are decided by the foreign exchange market or forex market — the largest financial market in the world.
There is a lot of numbers and pieces of information you hear about when it comes to international money transfers. Below there are some extra details you might need and the things you don't. IBAN is an account format used by European banks. Westpac does not have an IBAN. You may need a National Clearing Code, Routing Number, BSB Number or Sort Code, you should use the first six digits bank and branch codes of your account number for which the recipient wishes to receive the payment into.
For example, if the account number is use It won't be necessary when you are sending money from your account. You shouldn't need Westpac's address to make a transfer from your account. Although, you may need the address of the international bank you are sending the money to. If you do need Westpac's address, just use your local branch.
The way you provide your account number will depend on the type of account you are receiving the funds to. This means the Westpac account number format and length depend on whether it is a domestic account a normal, everyday Australian Dollar account or a foreign currency account you are holding with Westpac. This can be a lengthy process. If it is in a foreign currency it will take longer to process as it will need to be returned to the country of origin for clearing.
Additionally, the fees associated with these types of payments are very high. This means that we would never suggest using international bank drafts or cheques.
It is better to use a different payment method. Daily rates for transferring funds internationally through Westpac are available through their currency converter. You will get the up-to-date, dynamic rate when you are booking your transfer through online banking or over the phone.
Exchange rates from Westpac explained and compared. Westpac guides on travel money and overseas money transfers. If payment details are incorrect it may result in an unsuccessful transfer or the wrong account receiving funds. It is pivotal that you provide the correct details to the person making the payment.
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