The mid-market rate refers to the middle ground between current buy and sell prices on the global currency markets. It’s used as the official average price of a currency at any given time. To find out how good your deal is, look at the difference between Westpac’s exchange rates and mid-market prices. The difference between them is how much of a margin the provider is taking. Poor exchange rates are in effect similar to a hidden fee.1
Westpac exchange rates
An up-to-date list of the foreign exchange rates offered by Westpac Bank
When you’re sending money overseas, a good exchange rate can make a big difference to the amount of money that ends up in your recipient’s pocket.
Find live Westpac exchange rates here, and compare them to quotes from other providers to make sure you’re getting the most competitive exchange rate for your chosen currency. You’ll often be able to save money by sending funds through a specialised money transfer service instead of a bank.
What are Westpac’s foreign exchange rates?
The table below shows today’s Westpac foreign exchange rates, accurate as of 19 September 2019. The “buy” column refers to the price at which Westpac buys other currencies in exchange for New Zealand dollars. This is how much you’ll get when converting other currencies to New Zealand dollars through Westpac.
The “sells” column shows the price Westpac gives for other currencies. This is how much you’ll get when converting New Zealand dollars into foreign currencies.
|Currency||Code||Westpac buys T/T||Westpac buys cheques||Westpac buys cash||Westpac sell rate|
|United States dollar||USD||0.7025||0.7081||0.7306||0.6675|
|Hong Kong dollar||HKD||5.4955||5.5393||5.7702||5.2566|
|Papua New Guinean kina||PGK||2.4475||–||–||2.1843|
|Solomon Islands dollar||SBD||5.8934||–||–||5.0889|
|South African rand||ZAR||10.1799||–||10.6889||9.589|
|Sri Lankan rupee||LKR||126.6243||–||–||118.1197|
Sending money with Westpac: What to know
What we like
- Multi-currency options. Westpac has potential money-moving alternatives, such as multi-currency travel cards.
- Foreign cash and bank drafts. You can also get foreign cash and bank drafts at Westpac.
What to watch out for
- Restricted features. Limit orders and forward contracts are for business customers only.
- Uncompetitive fees and rates. Westpac’s fees are high, and its exchange rates are poor compared to what money transfer specialists offer.
How do Westpac’s exchange rates compare?
Most New Zealand banks typically offer similar exchange rates and international transfer fees. So while Westpac’s fees and rates are broadly comparable to other banks, they’re still worse than what you’ll find on offer from a specialist money transfer service.
Use the table below to compare your options and see how much you could save on your next transfer.
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 to 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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