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Bendigo Bank International Transfers & Exchange Rates
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Published On:
November, 22 2022
Edited On:
March, 20 2023

Bendigo Bank International Transfers & Exchange Rates

Bendigo Bank was named after its founding location of Bendigo, Australia, is one of the country’s biggest financial institutions. Specialising in a range of products including loans, credit cards, insurance, business and investment banking, the bank has been around since 1858. In this review we will be taking a closer look at the international financial services offered by Bendigo Bank, such as the cost of cross-border transactions and exchange rates for foreign currency.

About Bendigo Bank

A member of the Bendigo and Adelaide Banking Group - the merger of two of Australia’s longest standing and most reputable banks - this financial institution began as a building society designed to help Australians purchase their homes. In 2021, the bank reported customer figures amounting to 1.9 million Australians in over 500 locations country-wide.

Can I Use Bendigo Bank for International Bank Transfers?

Yes, the bank facilitates transfers sent from your Bendigo Bank account to overseas destinations worldwide in AUD or foreign currency. These are referred to as Telegraphic Transfers.

Bendigo Bank exchange rates and fees

Exchange Rate

A lot of banks add a hidden mark-up, typically between 5 - 7% above the mid-market rate used by forex traders, when quoting an exchange rate to customers.In a bid to break the mould, Bendigo Bank has created a Foreign Exchange Calculator, to ensure total transparency and help customers review conversion rates for the 25 available currencies on offer, ahead of locking in a Telegraphic Transfer.

We used the Bendigo Bank Foreign Exchange Calculator to convert each available currency and found that the profit margins added to the mid-market rate ranged from 3 - 5%.

Bendigo Bank’s Foreign Exchange Calculator can provide a currency conversion quote for the following major international currencies: USD, EUR, GBP, CAD, NZD, JPY, CHF, FJD, HKD, SGD, THB, IDR and CNY.

Customers will need to contact their local Bendigo Bank branch to see the rate of exchange for the more remote, less commonly traded currencies on the list: ZAR, SEK, PHP, NOK, DKK and INR.

Transfer Fees

The following transfer fees apply to incoming and outgoing international bank transfers:

  • Incoming Telegraphic Transfer in a foreign currency, sent to a Bendigo Bank account: $10.00 AUD

  • Incoming Telegraphic Transfer in AUD currency, sent to a Bendigo Bank account: $2.00 AUD

  • Outgoing Telegraphic Transfers, sent from your Bendigo Bank account to a contact overseas, in AUD or foreign currency: $30.00 AUD / $15.00 AUD for Bendigo Bank shareholders

  • Request to change the details of a Telegraphic Transfer once sent (not all requests are successful and are processed at the discretion of the receiving bank): $25.00

  • Request to investigate a Telegraphic Transfer once sent (if the funds were not delivered to the recipient due to an error made by the bank, this fee will be refunded): $25.00

Additional Costs

Customers should keep in mind that Telegraphic Transfers using AUD or foreign currency may be subject to a handling or acceptance fee charged by the intermediary and/or receiving bank(s). These fees may be deducted from the original total amount during the transfer process; this is something it is worth discussing with the recipient prior to sending.

How Do Bendigo Bank Transfer Fees Compare to Using a Money Transfer Provider?

The flat-fee for a Telegraphic Transfer is $30 AUD: this is incredibly expensive for most customers, especially for those making frequent international payments. Add to that the fact a percentage of the original amount may be deducted during the transfer process - to account for handling or acceptance fees - and the Bendigo Bank transfer services are not up to par.

In comparison, WorldRemit, a global money transfer company, offers an international payment service whereby funds are deposited into your recipient’s account in minutes. In addition to this quick delivery speed, WorldRemit fees rarely amount to more than $10 per transfer, and the recipient can choose to receive the money via bank deposit, cash pickup or mobile money.

Bendigo Bank Pros and Cons


Customers can arrange international bank transfers via Bendigo e-banking or in their local bank branch: ideal for anyone who may require in-person advice or support
Exchange rate mark-ups more competitive than other banks: 3 - 5% profit margin on top of the mid-market rate is slightly lower than the 5 - 7% added by some banks
Multiple customer support options available for users


International bank transfer services are only available to customers based in Australia
Transfers can be made in 25 of the major global currencies: this is a lot less than the offerings of WorldRemit (70 currencies) and Wise (57 currencies) at the time of writing (Jun 2021)
$30 flat fee for every international bank transfer sent: very expensive when compared to the fee-free services of many global money transfer companies
Slow delivery speed: international bank transfers reportedly take 2 - 7 working days to arrive with the recipient

How to Open an Account and Transfer Money With Bendigo Bank

In this section we will run through how to open an Everyday Account with Bendigo Bank, a process that is said to take a total of 10 minutes to complete, followed by a step by step guide on how to transfer money using your account.

Opening an Account

Step 1: Search for the Bendigo Bank Branch Closest to You
Step 2: Enter Your Personal Details
Step 3: Review and Create Account
Step 4: Confirmation

Transferring Money

  • Step 1. Log into your Bendigo e-banking account and select the Telegraphic Transfer option in the Move Money tab

  • Step 2. You will then be asked to enter the following information about your New Payee: full name on the account you are sending money to, their bank account number, their full residential address, the name of their bank and its address

  • Step 3. Enter the amount you wish to send and the account you wish to make the payment from

  • Step 4. You will be able to review details of the Telegraphic Transfer in full, and if your recipient’s details are correct and you are happy with the rate of exchange and transfer fees, you can tap Submit to send the payment

What customer support options are available?

  • Phone the customer service helpline on 1300 236 344 (+61 3 5445 0666 from overseas)

  • Send a message using the online contact form

  • Speak with a customer service representative using the Bendigo Bank Online Chat

  • Speak with a member of staff in-person at one of Bendigo Bank’s 540 outlets

In addition to the above, deaf or hard of hearing customers can contact the bank by following the below instructions:

  • TTY users phone 133 677 then ask for 1300 BENDIGO (1300 236 344).

  • Speak and Listen (speech-to-speech relay) users phone 1300 555 727 then ask for 1300 BENDIGO (1300 236 344).

  • Internet relay users connect to the National Relay Service and then ask for 1300 236 344.


A long-standing leader in the Australian banking sector, Bendigo is committed to providing high quality customer support to their customers. As far as banks go, this is an excellent option for anyone residing in Australia, with straightforward financial needs. Anyone based outside of Australia who require cross-border payment services, however, will need to explore international money transfer services elsewhere. The flat-fee of $30.00 per transfer, combined with the lower-than-average exchange rates for most currencies, mean Bendigo Bank's international payments are not as competitively priced as specialist companies such as XE, Wise and WorldRemit. Find out more about other money transfer companies here and use our comparison tool to weigh up your options.

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April Summers
April Summers
April is a trained journalist and the Content Editor for She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she's not writing about global remittances she can be found daydreaming about her next holiday abroad.

Answers to key questions about Bendigo Bank

Can I open a Bendigo Bank account in any country?
Does Bendigo Bank have an app?
Are there transfer limits?
How long do transfers take with Bendigo Bank?
Can I use a Bendigo Bank debit card when travelling abroad?
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