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Westpac Review, Exchange Rates, Fees Calculator & User Score

  • Fees and costs: Average
  • Transfer speed: Average
  • Safety and reliability: Very Good
  • Customer satisfaction: Average


  • Cheap and fast LitePay transfers
  • Well-designed platform and mobile app


  • Very high markup on the exchange rate
  • Poor customer support

0 users would recommend it

0 users wouldn’t recommend it


What is Westpac Wire Transfer?

Westpac Banking Corporation is an Australian-based bank and a leading financial institution in the country. They have been on the market for more than 200 years and currently have almost 14 million customers, and employs 40,000 people. Westpac offers accounts and tools for everyday banking and money management. Consumer Bank’s nationwide network has 1,429 branches. After you open an account, you will be able to send easily international money transfers through their online platform.

How Does Westpac Wire Transfer Work?

After you open Westpac bank account, you can start sending international payments through a regular bank wire or with a LitePay system. This feature offers limited but cheaper money transfers to some countries. You can transfer money securely at any time to over 130 countries from Online Banking

Westpac Wire Transfer Fees and Costs

It costs around $10-$20 to send money internationally with Westpac, depending on the type of payment and the destination. There is also a LitePay feature, which allows you to send cheap payments to the Philippines, India, Europe, or the United Kingdom. This type of payment has lower amount limits, however, costs only $5-$8.

If you are handling your finances physically and want to get help from a representative at bank’s location there are additional costs. You will pay $32 to send an overseas transfer or $10 to send money to Pacific Westpac accounts.

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Westpac Wire Transfer Exchange Rate

The bank’s markup on the exchange rate exceeds 5% compared to the average market offer.

While you can buy and exchange most of the popular and worldwide currencies, there are limits and restrictions put on the currencies of Syria, Cuba, Iran, Iraq, Libya, and Sudan.

Westpac Wire Transfer Limits

There are no limits for regular bank payments. You can adjust the amounts in your account settings. With LitePay, you can’t send more than $3,000 per day.

Westpac Wire Transfer compared to online platforms

Westpac in contrary to other mainstream banks, seems to be able to compete with independent online payment processors in terms of transfer fees. Thanks to the LitePay system, the transfers are quite cheap and fast. However, unfortunately, the markup on the exchange rates is so significant that it makes the service too expensive for sending foreign currencies.

How to use Westpac Wire Transfer?

To send money through Westpac, you need to register an account with them. Enable online banking feature and have your mobile phone near you, as the transaction is protected with SMS verification. Fill out the details of your recipient, their name, address, bank name, branch address, and account number, and the bank will take care of the whole transaction process.

How to sign up?

It’s advisable to contact the bank’s representative or visit your local Westpac branch to get the latest details about opening the account. There are different account types to suit any customer’s needs. You can register your account for online banking through their website. Navigate to the “register” button and fill out your personal information.

Is Westpac Wire Transfer safe and reliable?


Westpac has partnered with leading security experts from McAfee and IBM Trusteer Rapport to offer security software to help protect their customers computers and devices from online threats and potential hackers. They also try to educate users about online safety and how to spot potential scams and suspicious activity in their account. It’s worth noting that the company says that: “If your Westpac account is compromised as a result of internet fraud, we guarantee to repay any missing funds, provided you comply with our Online Banking Terms and Conditions.”

Public Reception

Westpac was recognized as the most sustainable bank globally in the Dow Jones Sustainability Index four years in a row, which shows that it can safely be considered a reliable institution. However, the company has faced some controversies as they were accused of manipulating Australia’s interest rates and taking suspicious loans from the US Federal Reserve.


There are numerous reviews of customers, who are satisfied with the quality of the service:

“Prompt, easy, and convenient banking. Able to access money without card through cardless cash, fraudulent funds reimbursed fast, customer service very helpful. Banks located everywhere.” ~ Amee on Mozo

“I have been a Westpac customer for almost 15 years now and have never had a problem with the service I receive.” ~ Rebecca on Mozo

On the other hand, many customers report that they had problems with frozen or even lost funds or the bank made a mistake while processing their transfers:

“Been with this bank for 12 months and my card keeps getting blocked, money missing from my account and I never get any of it back! The fraud department never gets back to me with updates either.” ~ Gav on ProductReview

“The absolute worst bank I have been with. My transactions change all the time, they don't come through and reflect on the right days and I'm constantly finding myself out of money because somehow I lose up to $60 and my transactions are never accurate.” ~ Tiahna on ProductReview

Customer Support

The best way to contact the support team is through the chat within the app or platform. You can also call their phone number or reach them through an email. There is also a well-developed FAQ and help section on the website, which may solve some of your initial questions.

Judging by the reviews and feedback from the bank’s customers, it may be hard to solve your issue quickly with the customer support. They often leave you hanging on the line for a long time before offering any help.

Final Thoughts

Westpac Wire Transfer Review

While the account and transfer offer of Westpac seems to be very attractive and cheap, the high markups on the exchange rate make the service very expensive and unfavorable. Compared to other banks, the costs are rather average and higher than any popular independent online platform. The overall design of the platform and content of the website makes it very easy to use and learn about basic features and fees. Many customers report that the biggest disadvantage of this bank is their customer support. It takes a long time to solve your problem and the staff may be rude in some cases.

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