old.sparkles

I know there's been previous discussion of banks, but I opened a Westpac account, and transferred money over using hifx. I got charged $22 by Westpac for an international transfer, even though the currency change had been done at this end. Is this common, and is there a way to avoid it. Oh, and I transferred direct to the e-saver, not current account if this makes a difference.

Thanks
Wendy

Emma_Par

I'd phone them as I opened a westpac account today and was informed if I transferred via hifx that I would only incur charges from hifx not westpac.
The only thing I can think of is you brought £ to go to westpac and westpac treated it as an international transfer and converted it to $ for you instead of just receiving $, humm, let me know how you get on, good luck

old.sparkles

nope - paid £9 to hifx - sent sent $aud and arrived in e-saver $22 dollars lighter. phoned and got told call was to Oz and too late to talk to anyone, checked fees and charges online and found that international charges occured this as a charge.

But I went to Westpac London and thought I was told the same as you. If I hear differnent I'll let you know.

Emma_Par

Thats interesting! At least you can call oz shortly and if no joy contact the London branch tmrw morning. Bit of a bummer especially when we've been told something different in branch

Timmo84

From what i understand, most banks charge a fee to receive money into your Australian account from overseas. The reason for this fee is because banks have to use another institution to facilitate these international transfers so they are merely passing on the cost of this transaction to you (and quite possibly a bit more)

CBA also charges a fee for receiving money
http://www.commbank.com.au/personal/...d-charges.aspx

Receiving money
"For credit of an AUD account at another bank Up to $25.00 per transfer*