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Essentials

Make and receive payments in a foreign currency

  • Make and receive payments in another currency without having to convert them to AUD
  • Accounts available in a range of foreign currencies


Transactions can be made and viewed via Westpac Live.


Fees

Average monthly balance (Australian dollar equivalent) Monthly Fee (in Australian dollars)
$0 to $99,999.99 $5
$100,000 and over Nil
Service fees  
Telegraphic transfer (Outward) via Westpac Internet Banking $20
Telegraphic transfer (Inward) credit to Westpac account $12

All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply. View the full list (PDF 588KB)


Use an existing eligible Australian dollar Westpac transaction account or get a new one.

  • To make an outward telegraphic transfer from your Foreign Currency Account using Westpac Live Online Banking you are required to have an eligible Westpac Australian dollar transaction account. You will not be able to proceed with the transaction on your Foreign Currency Account until you have an eligible Westpac Australian dollar transaction account. Standard fees and charges may apply for this Westpac Australian Dollar account.
  • This eligible Westpac Australian Dollar account must contain a sufficient balance to pay the applicable telegraphic transfer fees.
  • If you don’t have one, you can open an eligible Westpac Australian dollar transaction account online or by contacting your Westpac Banking Representative

Rates


More information

 

 

For more information on foreign currency accounts refer to the terms and conditions:

If you have any queries or would like to apply for a currency not available online you can:

  • Contact any Westpac branch.
  • Contact your Westpac Relationship Manager.


For foreign currency overdraft interest rates, you can:

  • Call the Westpac International Service Line on 131 032
  • Contact any Westpac branch
  • Contact your Westpac Relationship Manager.


For enquiries or full details of all terms and conditions on foreign currency accounts

Things you should know

Full details of the Terms and Conditions for all the products and services which do not have a Product Disclosure Statement are available on application.

A Foreign Currency Account should not be used to speculate on foreign currencies or to conduct frequent trading of foreign currencies.

A Foreign Currency Account is not an account to assist with travel needs. It cannot be linked to a Travel Money card and you cannot access your Foreign Currency Account through an ATM, either within Australia or overseas.

You cannot withdraw or deposit foreign notes or coins into a Foreign Currency Account.

Deposits held in Foreign Currency Accounts are not covered by the Australian Government’s Financial Claims Scheme.

Credit facilities are subject to application and the Bank's normal lending assessment criteria. Fees and charges may apply to the products and services listed. Full details of the Terms and Conditions for all the products and services which do not have a Product Disclosure Statement are available on application.