$25 fee to investigate late or delayed international transfers $35 to send international payments in-branch $15 to send international payments via online banking $10 fee to receive international payments You’re also likely to pay SWIFT fees, which are included in your transferīankwest has done away with monthly account fees, but there are still fees associated with each international transaction. This means your transfers are reliant on SWIFT transfer times, which can be slow. Your foreign currency transfer is made from your Australian Bankwest account, and all payments made to or from this account go through the SWIFT network. So this account isn’t appropriate for larger international payments One key feature of their international transfers is actually one of their limitations: you’re limited to $20k per transfer. So for businesses who do a high volume of international transfers, this may not be the best optionįees apply for sending and receiving foreign currencies Instead, they have an international currency transfer option built into their regular banking options. As such, there are no specific currencies in which to transfer. Transfer up to $20k internationally per transactionĪs mentioned, Bankwest doesn't actually offer a foreign currency account option. Send and receive funds via the SWIFT network, and withdraw directly to your Bankwest account Instead, you’re able to transfer funds to over 200 countries directly from your regular bank account A detailed look at Bankwest foreign currency accountsīankwest doesn't have a designated foreign currency account option. Let’s dive into the key features and limitations of Bankwest’s foreign currency account options. So it will be ideal for those eCommerce businesses for whom the majority of their business comes from Australia.Īlternatively, it may be a good option for businesses who only occasionally contract international freelancers, or for those freelancers who have just a handful of international clients.Īs we compare Bankwest’s foreign currency products, we’re going to treat this international transfer option as the Bankwest foreign currency account equivalent. AFSL 232595.As part of Bankwest’s pared-back banking ethos, they offer international transfers directly through their regular banking accounts integrating the foreign currency option within their standard products.īankwest’s foreign currency transfer service may be useful for smaller businesses and sole traders, those who don’t make a high volume of international transactions. Consider the Transaction and Savings Accounts Terms (PDF, 1.10 MB) and Financial Services Guide (PDF, 906 KB) before acquiring this product, available by calling 1300 308 008, at your local branch or Issued by HSBC Bank Australia Limited ABN 48 006 434 162. This advertisement provides general advice only and doesn't take into account your objectives, financial situation or needs. These accounts should not be used for speculative purposes. The foreign exchange market is subject to risks associated with exchange rate movements. Please refer to the " Personal Banking Booklet (PDF, 1.50 MB)" for more information. Cash transactions in USD$ and HKD$ must be notes only and in multiples of 10, and are subject to cash handling fees. Cash withdrawals for amounts greater than the equivalent of AUD$ 1,000 are subject to 24 hours prior notice or branch availability. All in branch cash transactions are restricted to AUD$, USD$ and HKD$.Other fees and charges may apply. Please refer to the Personal Banking Booklet (PDF, 1.50 MB) for details on all charges.Non HSBC ATM owners/operators may charge an ATM Operator Fee for withdrawals or balance enquiries at their ATMs.Number of transactions at no charge per month 2 No interest is payable on balances in any currency HSBC Foreign Currency Bonus Savings Account
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