Receiving money from overseas with ANZ: fees revealed

Roberto Efflandrin

Doing business overseas? Accepting a gift or payment from a family member or friend? There’re a lot of reasons why you might need to receive money from overseas. International bank transfers can be a big hassle with their rules and fees, so if you’re an ANZ Australia customer and need to accept an international payment, read on to learn what you need to know. We'll also fill you in on a cheap alternative to save you money and worries.

💸 Receive payments from abroad with tiny sender fees and at the real exchange rate. Just like the one you see on Google.

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What is the fee for receiving an international transfer?

A telegraphic transfer (also called an international money transfer or IMT) is probably the most common way to have funds sent to your ANZ account. But those transfers aren’t free. They come with some fees attached.

Transfer typeFee for receiving an international Telegraphic Transfer¹
Transfer made to an ANZ account or account at another bankUp to $15 (excluding potential third party bank charges)
Foreign currency bank cheque for less than $2000$15
Foreign currency bank cheque for an amount of $2000 and above$50
Encashment for credit to foreign currency account$20

International transfer fee structures

When it comes to paying the fees for an international transfer, there are a few different options. Although it depends on the sending bank if they offer all 3 options.

Fee BearerMeaning
OURThe sender pays all transfer charges
SHACharges for the transfer are shared between the sender and the recipient
BENThe recipient pays all transfer charges

The transfer fees charged by the sending and receiving banks may not be the only charges involved, though. Most international money transfers happen via the SWIFT network, a system of secure messaging for banks. SWIFT transfers can pass through intermediary (sometimes called correspondent) banks on their way to the final destination, and each of those banks may charge a fee.

ANZ states in their fees and charges document:

In relation to the costs that we refer to in the “International Payments” section, we are unable to quantify the additional costs which may be incurred as they refer to miscellaneous costs which may be charged by the relevant overseas (or correspondent) bank. We have no control over these costs and their amount varies between each overseas bank.¹

ANZ international transfer exchange rate

When you make international money transfers through banks, there’s often a hidden fee built into the exchange rate. ANZ states on their currency calculator page:²

The calculator is illustrative only and does not constitute a quote. The calculator uses an indicative exchange rate that is current as at (date seen) but is subject to change. Exchange rates include a margin.

International money transfers can be converted from the sender’s home currency to the recipient’s home currency by an intermediate bank at a marked up exchange rate, allowing that bank to make a profit off the conversion.

You could ask the sender if they can request their bank to do the conversion, or ANZ as an alternative. They might be inclined to give them a slightly better rate as their customer.

Wise, on the other hand, always moves money at the mid-market rate, or the actual exchange rate you find on Google.

How can I receive an international transfer?

An International Money Transfer (IMT or International Telegraphic Transfer) is the fastest and one of the most common ways to receive money from overseas. But you also have the option of receiving a bank draft, cheque or money order. Just keep in mind all of these must be mailed to you and then deposited into your account, so they take considerably longer and are less secure, as in theory they could get lost in the mail.

What are the details that I should give to the sender?

To receive an international transfer correctly and ensure the fastest, smoothest possible transfer, make sure the sender has all the correct and necessary information.
Provide the sender with:²

  • Your ANZ branch name and address
  • Your name and account number
  • ANZ’s SWIFT code: ANZBAU3M
  • BSB number

How long does it take to receive money from overseas?

How long it will take to receive a transfer into your ANZ account often depends on how fast it will be processed by both the sending bank and the intermediary banks.

A SWIFT transfer generally takes 1-3 business days, but can take up to 7 business days at times. It can take even longer if you’re receiving the money by bank draft or cheque, since those need to be sent by mail and once received by the bank, take more time to process.

Contacting ANZ Bank

You can reach out to ANZ directly for further information or assistance by calling:³

  • 1800 681 683 from Australia or
  • +61 3 8565 7229 if you're outside Australia

Try Wise: a cheap and transparent alternative to ANZ

Receiving money transferred from overseas into your ANZ account via Wise is cheap, transparent and easy. As the AUD will be transferred to you from a local Wise Australian bank account, it shouldn’t cost you anything to receive the money.

By having your sender sign up to Wise, both you and your sender will know all fees upfront, including the transfer fee and the current mid-market exchange rate used to convert the money for the transfer. Once signed up, your sender will just need to have your bank details or email address handy, follow the subsequent transfer steps and pay a one-time low transfer fee to send a transfer to you.

Alternatively, you can open a Wise Multi-currency account and get local Australian bank details — as well as local account details to receive other popular currencies like GBP, EUR and USD — to receive payments like a local in those regions. See the full list here.

Try Wise today to see how easy international transfers can actually be.

Open your Wise account in minutes 🚀

However you decide to receive an international transfer, knowing your options is the first step toward making that decision.

Best wishes.


  1. ANZ fees and charges PDF
  2. ANZ receive currency calculator margin and Swift bank details
  3. ANZ international transfer help page
    Sources checked on 29 December 2021

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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