Pricing, often called a margin, is the difference between the rate we buy your currency and the rate we sell it to you.
Most banks and FX providers will not disclose their pricing/margin as it’s hidden in the exchange rate you receive as the customer. Banks can charge as much as 5%, and in many cases a fixed fee is also charged. The true cost of your transfer is the fee plus the margin taken by your provider.
Margins are indicative and determined by transfer volumes. As such, margins are tailored to each business. The ‘Your margin’ field on the currency converter can be adjusted from 0.10% to 0.60% to display a range of customer exchange rates. Learn more about our pricing structure.
|Margin||0.60% or less|
|Payment fees on transfers of AUD $10K or more^||$0|
|Account management fees||$0|
|Opening local currency receiving accounts||$0|
^Fees will not be charged for most payments. Payments of AUD $10,000 or more are fee free. Our fee structure for smaller payments is as follows**: Payments between $2,000 and $9,999 will incur an AUD $10 fee. Payments less than $2,000 will incur an AUD $20 fee. Fees and/or margins apply to same currency transactions. No opening fees, no account keeping fees and no receiving fees. Payment volumes and fees in AUD or equivalent in foreign currency.