Originally published: Daily Bulletin, 18 October 2022
New analysis compares local bank fees with US, UK, Canada and NZ
Despite the current volatility across the global economy, international money transfers are continuing to rise and are expected to reach $244 trillion this year.[1] Now, a new analysis comparing international money transfer costs through banks in Australia, UK, the US, Europe, Canada and New Zealand has found an average wire fee and exchange rate markup of 2.42 per cent, costing customers from $214-470 on a $10,000 payment transfer.
Money Transfer Comparison commissioned a survey of an independent panel of 1000 Australians through Pureprofile.
