It's called the "mid-market rate" because it's the exact middle of the market between the current buy and sell prices on global currency markets.It's rare to get the exact mid-market rate in an international money transfer, so the more competitive exchange rates will typically be whatever's closest to the mid-market rates.
To get a better sense of how good or bad a bank's exchange rates are, you'll need to compare them to the mid-market rates, which you can see in the graph below.1
Bankwest exchange rates
A complete list of today's Bankwest foreign currency exchange rates
Exchange rates make a big difference when you're making a transfer from one currency to another.
If you're after the best exchange rate you can get, it's worth comparing Bankwest's rate side-by-side with some specialist money transfer services. Often, you're able to get a better deal somewhere other than with your usual bank.
What are Bankwest's foreign exchange rates?
The table below shows the daily Bankwest exchange rate, updated 11 July 2020.
In it, "buys" refers to the price at which Bankwest purchases a foreign currency when you're converting it to AUD. "Sells" is the rate you'll get when converting Australian dollars to a foreign currency.
|Currency Key||To Buy||To Sell||For AUD$10,000, you'll get|
Sending money with Bankwest: What to know
What we like
- Flat fees. There's a flat $15 fee for initiating an international money transfer at Bankwest, which is low compared to other banks.
- Coverage. You can transfer money to more than 200 different countries.
What to watch out for
- Correspondent banking fees. International money transfers with Bankwest incur unpredictable extra fees from each correspondent bank en route.
- Uncompetitive rates. The exchange rates, as well as the fees, aren't as good as what you can find with specialist money transfer services.
How do Bankwest's exchange rates compare?
If you're looking for the most cost-effective international money transfer, it's worth comparing Bankwest to some specialist money transfer services out there.
The table below does the hard work for you. Just enter how much you want to send of which currency and it will show you how much each option costs.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary from the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
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