Westpac Banking Corporation (Westpac) advises customers that fees for all international payments in foreign currency have reduced to $10 when sent using personal and business internet banking. This will apply to all Westpac Group brands (excluding RAMS).
This expands on Westpac’s LitePay International Payment service (LitePay) which provides a low cost, easy option for customers wanting to send small amounts overseas. LitePay launched in 2016 through online banking.
LitePay enables individual Westpac customers to send up to $3,000 per day online to 22 countries, across Europe, the Philippines, UK and India with low fees of $5-$8.
For overseas payments over $3,000 to other countries not covered by LitePay, fees will drop to $10. This will apply to business and individual customers.
Westpac offers customers a range of products and services to meet their international payment and travel needs:
| Product or service | Description | Channel and fees | Customers |
|---|---|---|---|
| International Payments | Send/receive money to/from overseas safely to most countries in the world and in most foreign currencies | Branch fee = $32
Online fee = $10 if the payment is sent in foreign currency or $20 if sent in AUD. |
Business and individual customers |
| International Payments LitePay | A low cost service that allows customers to send money overseas to select destinations (Philippines, India, UK and 19 European countries). Max $3,000 per payment. | Online only service, fee =
$5 if sending to India or Philippines, $8 if sending to EU or UK |
Individual Westpac customers only |
| Travel Money Card | Prepaid debit card that can hold up to 11 currencies. | No fee to acquire or load the card. | Individual customers only |
| Foreign Cash | Buy and sell foreign cash
|
To buy cash online, $4 fee per transaction, plus a surcharge up to 1% to pay with credit or debit card. To sell cash in branch, $8 per currency sold back | Business and individual customers |
| Foreign Currency Account | Make and receive payments in another currency without having to convert them to AUD.
Accounts available in a range of foreign currencies. |
$0 Account Maintenance Fee. Other fees may apply depending on transaction type. | Business and individual customers |
| Using ATMs overseas | Westpac card holders pay no ATM withdrawal fees when using our Global ATM Alliance. Banks include DBS, Barclays, Deutsche, Bank of America and more. | $5 fee for successful overseas ATM cash withdrawal at a non-Global Alliance ATM.
Plus a 3% Westpac Foreign Transaction Fee applies to overseas withdrawals or Visa or MasterCard credit card cash advances. A 3.5% fee applies for AMEX.
A standard cash advance fees will also apply to credit card withdrawals (in addition to the Foreign Transaction Fee). |
Individual customers |