ANZ international transfers - a guide to fees, rates and transfer time

Samuel Clennett
6 minute read

Need to send some birthday money to a relative in Europe, or pay for a purchase coming from the US? Or perhaps you run a business and need to pay overseas freelancers or buy supplies. Whatever the situation, you’ll need a quick, secure and good value way to make international transfers

If you’re a customer with the Australia and New Zealand Bank (ANZ), you can send and receive international payments through your account. Here, we’ll look at how much it may cost you, including those ‘small print’ fees, how to make an international transfer and how long it may take.

But remember that you do have a choice when it comes to international transfers. ANZ, or another traditional bank, isn’t the only option out there.

For example, your transfers could be up to 6x cheaper¹ with a specialist solution like Wise. Get a Wise multi-currency account and you can whizz money across the world with low fees and the real exchange rate. You can convert currencies for low fees and even receive money from other countries for free.

A cost example: Sending $1,000 abroad

Let’s start with a hypothetical transfer. Let’s say you want to send $1,000 to a family member living in the US.

We’ll compare the cost of sending this sum with your ANZ bank account or with a solution like Wise instead, factoring in intermediary bank fees, exchange rates and other costs to see which is the cheapest overall.

ProviderFeeExchange rateTotal cost
ANZ²$9 NZD using internet banking, $28 NZD in branch + correspondent bank feesExchange rate + markup$9 + correspondent fees + exchange rate markup
Wise³$7.83 NZDThe real mid-market exchange rate$7.83

What are the fees for ANZ?

Bank customers aren’t always aware of the full range of fees involved in international transfers. They’re often buried in the terms and conditions, plus charges can vary depending on the country you’re sending the payment and the type of bank account you have.

It’s really important to check out the fees as carefully as you can before hitting ‘send’ on an international payment, or you could find that your transfer is seriously expensive. Let’s take a look at the key charges you need to know about with ANZ international money transfers.

ANZ international transfer fees table

International TransfersRegular fees
Incoming international transfer⁴
  • $15 if credited to an ANZ account
  • $27 if credited to another bank
  • $35 if credited to a bank outside of NZ
Outgoing international transfer⁵
  • $9 for payments made through internet banking
  • $28 for in-branch or phone banking (staff assisted) payments
Additional fees may apply
  • See below for fees for amending or cancelling payments, plus correspondent bank fees

ANZ exchange rates

Before you send or receive an international payment through a bank, it’s helpful to understand a little about how exchange rates work in this process. Unfortunately, exchange rates are what can make global transactions a little more complicated and expensive than you might expect.

When you make a payment from a bank in one country to a bank in another, the money doesn’t always go directly there. There are often intermediary banks involved along the journey, and these banks can apply their own exchange rates to the payment. These rates differ from the mid-market rate you’ll see on currency sites like or a Google search.

Banks can add a mark-up on top of the mid-market exchange rate, pocketing the difference for themselves. As this means a poorer exchange rate for you – and possibly even a charge for the currency conversion – this makes your transfer more expensive overall.

Additional fees

Like other banks, ANZ generally uses the SWIFT system for international transfers. This is a global financial messaging network⁶, through which banks can securely send accurate information – such as instructions for your money transfer, for example.

With ANZ international money transfers through SWIFT, as many as 3⁷ intermediary (also known as correspondent) banks could be involved. The number of intermediaries often depends on the origin and destination of the transfer.

It’s common practice for intermediary banks to charge flat fees for their involvement in the transfer. These can range from $20-$50⁸ per transaction. While these aren’t fees charged by ANZ, you should still ask ANZ about correspondent bank fees before starting your transfer. Many customers aren’t aware of these extra costs when making international transfers, and it can come as a nasty shock.

Intermediary banks may also apply their own exchange rates when converting your money between currencies. This could vary quite a bit from the mid-market or ‘real’ exchange rate, so your transfer will end up costing more.

Intermediary bank fees aren’t the only additional costs that could affect your transfer. Here are some of the other ANZ international money transfer fees you need to know about:

International TransfersAdditional Fees⁹
Sending/recipient bank and/or intermediary bank(s)
  • Correspondent/receiving bank fees + exchange rate markup(s)
Cancelling a transfer
  • $25 per payment
Amending a transfer
  • $25 per payment
Enquiry fee (where the recipient claims they haven’t received the funds)
  • $25 per payment

How do you make an international bank transfer with ANZ in New Zealand?

One of the quickest and easiest ways to send money overseas is to use ANZ’s internet banking service. You can also make international money transfers (known in banking terms as an IMT) using the ANZ GoMoney app, by phone or in an ANZ branch.


Follow these steps¹⁰ to set up an IMT in ANZ internet banking:

  1. Register for sending money overseas – you’ll need to call 0800 368 524¹¹ (you can also register via the GoMoney mobile banking app) and then register for the two-factor authentication system OnlineCode
  2. Login to your ANZ internet banking account and head to Pay & transfer> send money overseas
  3. Select the account you’d like the payment to be made from
  4. Select an existing payee, or provide full details for the recipient if a new payee – including name, address, IBAN (International Bank Account Number)
  5. Fill in details of the receiving bank, including the bank’s SWIFT Code, name and address
  6. Follow the on-screen instructions, including entering the payment amount and currency, and the OnlineCode sent to your mobile phone.
  7. Complete the transaction.

ANZ GoMoney app

You can also make international payments through the handy GoMoney mobile banking app. Follow these steps¹²:

  1. Make sure you’re registered for the OnlineCode two-factor authentication service
  2. Login to the app and head to Overseas Payments in the menu
  3. Register for the Overseas Payments service and receive your OnlineCode to proceed
  4. Select a country and currency, and receive an indicative exchange rate for the transaction
  5. Enter the amount and payee details (choosing from an existing payee or adding a new one)
  6. Choose the account to make the payment from
  7. Review the details and complete the payment using a unique OnlineCode sent to your phone.

By phone or in-branch

ANZ recommends using its online banking service or mobile banking app to make an international transfer, but you can also do it over the phone by calling 0800 269 296¹³ or in a local ANZ branch. Make sure you have all the relevant details to hand and an ANZ assistant will guide you through the process.

What do I need or what should I give to the sender in order to receive an international bank transfer?

Great news – a friend or family member in another country wants to send you some money. All you need to do is provide them with a few key details. These can vary from country to country, so make sure you do your own research beforehand, but you’ll generally need to supply¹⁴:

  • Your full name and address
  • Your ANZ bank account name and number – some countries require an IBAN (International Bank Account Number) but the sender shouldn’t need this to send money to your ANZ account in New Zealand
  • The full bank name (i.e. ANZ Bank New Zealand Limited) and address
  • Your bank’s SWIFT or Bank Identifier Code (BIC) – you can find your bank’s unique code¹⁵ here.
  • The amount and the currency you’d like to receive the payment in.

It’s also a good idea to agree in advance whether you, or the person sending the money, will be responsible for any charges relating to the transfer.

How long does an international bank transfer with ANZ take?

Generally, it takes two business days¹⁶ for the money to arrive in the recipient’s bank account when sending internationally with ANZ. Some transactions happen even faster that that.

However, the exact time your transfer will take varies depending on where the money is sent from and to. If there are lots of intermediary banks involved along the route, it could take a little longer than you expect.

In this guide, you’ll hopefully have learned all you need to know about ANZ Bank international transfers. You know roughly how long it takes, the different ways you can set up a payment, plus the details you’ll need to provide to receive cash from abroad.

Crucially, you’ll now be aware of the kinds of fees and charges involved when making an international payment through a bank. It isn’t always the cheapest way to do it, especially when intermediary banks all apply their own exchange rates along the way.

If you make global payments regularly, an alternative solution like Wise – guaranteeing you the mid-market rate and low fees on every transaction - could be a better choice, saving you a bundle in the long run.

Sources used:

  1. Wise Multi-Currency Account

  2. ANZ Fees and Rates

  3. Wise

  4. ANZ Fees and Rates

  5. ANZ Fees and Rates

  6. How The SWIFT System Works

  7. ANZ Fees and Rates

  8. ANZ - Online Banking

  9. ANZ GoMoney

  10. ANZ GoMoney 2

  11. ANZ Phone Banking

  12. ANZ Receiving Money

  13. Wise SWIFT Codes

  14. ANZ Sending Money Overseas

Sources checked on 30-June 2020.

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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