Lyla Lindsey
If you're looking to send money overseas from your ANZ account, you'll need to know how to navigate the various fees, transfer methods, and requirements. This is especially true when it comes to finding the right account number format, whether it's an IBAN, BIC, or another number. IBAN stands for International Bank Account Number, and while it's required for payments to Europe and selected other countries, Australia does not use IBANs. Instead, Australian banks like ANZ use BSB and account numbers to identify accounts. This means that when transferring money from your ANZ account to another account in Australia, you'll need to use the recipient's BSB and account number.
| Characteristics | Values |
|---|---|
| ANZ account number format and length | Depends on the type of account (domestic or foreign currency account) |
| International transfer fee | $50 per item + costs |
| Payments within Australia under $100 AUD | Free |
| Payments within Australia of $100 AUD or more | $35 |
| Payments to non-ANZ customers or transferred to another bank in Australia | Up to $25 |
| Unconverted payments transferred to another foreign currency account held at a bank in Australia | $35 |
| Bank cheque issued for amounts of $100 and over | $27 |
| Payments made on application and identification | $20 |
| IBAN | Mandatory for payments to Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, French Polynesia, Germany, Greece, Hungary, Ireland, Israel, Italy, Jordan, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Macedonia, Mauritius, Monaco, Montenegro, Netherlands, New Caledonia, Norway, Pakistan, Poland, Portugal, Qatar, Romania, Saudi Arabia |
| IBAN meaning | International Bank Account Number |
| IBAN structure | Starts with a two-letter country code and contains 15-34 letters and numbers |
| IBAN usage | Used in some countries, but not in Australia |
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What You'll Learn
ANZ international money transfers
International money transfers can be made from an ANZ account to over 250 destinations and in more than 30 currencies. International money transfers can be sent to specified countries only. For ANZ Phone Banking and ANZ Internet Banking, you can view the list of destination countries and currencies for international money transfers on the ANZ FX Calculator.
The ANZ International Money Transfer offers convenience, speed, and peace of mind. You can send an IMT anytime, anywhere, using ANZ goMoney and Internet Banking. The funds will be sent through the worldwide bank network and you will be protected by OnlineCode, a two-factor authentication service that provides an additional layer of security.
To send an international money transfer from your ANZ account, you will need to provide the following information:
- The destination country
- The full bank name, address, and SWIFT code/BIC (Bank Identifier Code) or Branch Number (some countries accept this) of the beneficiary's (payee's) bank
- IBAN (for payments to Europe and selected other countries) or Routing Number (for payments to the US)
The IBAN is mandatory for payments to the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, French Polynesia, Germany, Greece, Hungary, Ireland, Israel, Italy, Jordan, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Macedonia, Mauritius, Monaco, Montenegro, Netherlands, New Caledonia, Norway, Pakistan, Poland, Portugal, Qatar, Romania, and Saudi Arabia.
The fee for an international money transfer depends on how the funds are received. For payments outside Australia, the fee is $50 per item plus costs. Payments at ANZ within Australia that are equivalent to under $100 Australian Dollars are free, while payments equivalent to $100 Australian Dollars or more are $35. Additionally, there is an OUR Fee that applies when you make an international money transfer in a foreign currency to any account in New Zealand or another country, or in NZD to an account in another country. The ANZ Transfer Fee will still be charged where applicable.
You can check the status and receipt number of your international money transfer via View past Payments/Transfers from the Payments menu. For unsuccessful payments, the status will show as failed, and you can check the details of the transfer to find the reason for the failure.
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IBAN vs BSB and account numbers
An International Bank Account Number (IBAN) is an internationally recognised system for identifying bank accounts across borders. It is used to facilitate cross-border transactions and reduce the risk of transcription errors. IBANs consist of up to 34 alphanumeric characters, including a country code, check digits, and a number that includes the domestic bank account number, branch identifier, and potential routing information. IBANs are mandatory for payments to certain countries, including many European countries, and some countries in the Middle East and the Caribbean.
On the other hand, a BSB (or Bank State Branch) number is a six-digit number used specifically in Australia to identify the individual branch of a financial institution. The BSB code is used in addition to the bank account number to identify the recipient of a transfer. The format of a BSB code is XXY-ZZZ, where the first two digits specify the bank or financial institution, the third digit represents the state the branch is located in, and the last three digits specify the address of the branch. BSB numbers are commonly used for domestic transactions within Australia.
When sending money overseas with ANZ (Australia and New Zealand Banking Group Limited), you will need to provide the destination country, full bank name, address, and either the SWIFT code/BIC (Bank Identifier Code) or Branch Number of the recipient's bank. Additionally, an IBAN may be required for payments to Europe and selected other countries, or a Routing Number for payments to the US.
It is important to note that ANZ charges international transfer fees, which vary depending on how the funds are received. These fees are typically deducted from the total amount received. Therefore, it is recommended to compare alternatives such as Wise, which could offer more cost-effective options for international transfers.
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Costs of international transfers
ANZ International Money Transfers have varying costs depending on several factors. Firstly, the method of transfer (online, over the phone, or in-branch) will affect the cost. For instance, for ANZ customers sending foreign currency overseas via internet banking, transactions under AUD$10,000 incur a $9 fee, while transactions over AUD$10,000 are often fee-free.
Secondly, the amount transferred matters. Generally, transfers over $10,000 Australian dollars are cheaper and may even be free of charge.
Thirdly, the destination of the transfer plays a role in the cost. For example, transfers in Australian dollars (AUD) typically have higher fees, and transfers to certain countries may incur specific charges. Additionally, the type of account held by the recipient may impact the cost. Transfers to non-ANZ customers or to another bank in Australia can cost up to $25, while unconverted payments transferred to another foreign currency account held at an Australian bank can cost $35.
Lastly, intermediary bank fees may apply. Payments may be routed through intermediary banks, and these banks may charge processing fees, which are typically deducted from the transferred amount.
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ANZ international payment destinations
To send an international money transfer with ANZ, you must be an ANZ customer. You will need to provide the following information:
- Destination country
- Full bank name, address, and SWIFT code/BIC (Bank Identifier Code) or Branch Number (some countries accept this) of the beneficiary's (payee's) bank
- IBAN (for payments to Europe and selected other countries, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Jordan, Kuwait, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Qatar, Romania, and more) or Routing Number (for payments to the US)
International money transfers can be sent to specified countries only. For ANZ Phone Banking and ANZ Internet Banking, you can view the list of destination countries and currencies for international money transfers on the ANZ FX Calculator. Alternatively, for ANZ Internet Banking, you can view the list of destination countries when setting up a new payee.
It is important to note that ANZ's international transfer fees (telegraphic transfers) vary depending on how the funds are received. Payments outside Australia incur a $50 fee per item, plus additional costs. Payments within Australia that are equivalent to under $100 AUD are free, while those equivalent to $100 AUD or more are charged a $35 fee.
Additionally, intermediary bank fees may apply, as payments may be routed through one or more intermediary banks before reaching the recipient's ANZ account. These fees will be deducted from the amount received. Sending provider or bank fees may also be applicable and are typically deducted before sending the money.
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ANZ international payment requirements
To send an international payment from your ANZ account, you must be an ANZ customer. You will need to provide the following information:
- The destination country
- The full bank name, address, and SWIFT code/BIC (Bank Identifier Code) or Branch Number of the beneficiary's bank
- IBAN (for payments to Europe and selected other countries) or Routing Number (for payments to the US)
- The beneficiary/recipient address
IBAN is mandatory for payments to the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, French Polynesia, Germany, Greece, Hungary, Ireland, Israel, Italy, Jordan, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Macedonia, Mauritius, Monaco, Montenegro, Netherlands, New Caledonia, Norway, Pakistan, Poland, Portugal, Qatar, Romania, Saudi Arabia.
For payments to South Africa and Bangladesh, the recipient needs to contact their bank to claim funds; otherwise, the funds won't be credited to their account. For payments to China, the payee should not be an individual where the payment is related to trade.
ANZ charges fees for international transfers, which vary depending on how the funds are received. For payments outside Australia, the fee is $50 per item plus costs. For payments within Australia that are under $100 Australian, the fee is free. For payments within Australia that are $100 Australian or more, the fee is $35. ANZ's fee will be taken from the total amount of money received, even before it is credited to your account.
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Frequently asked questions
IBAN stands for International Bank Account Number. Some countries require you to use an IBAN when transferring money overseas.
No, Australia does not use IBANs. Instead, Australia uses BSB and account numbers to identify accounts.
You do not have an IBAN number for your ANZ Australia account. However, if you are receiving money from overseas, you will need to provide the sender with the SWIFT/BIC code: ANZBAU3M.
