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Macquarie Bank International Transfers & Exchange Rates
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Published On:
November, 23 2022
Edited On:
March, 22 2023

Macquarie Bank International Transfers & Exchange Rates

With more than 50 years experience in the field of financial services, this Australian bank is best known for asset management and business banking. Macquarie Bank operates in 32 global markets and in this review we will be investigating how easy it is to arrange international money transfers between the different regions served by the bank.

About Macquarie Bank

Headquartered in Sydney, Australia, Macquarie Bank has acquired offices in the world's biggest cities - London, Munich, New York and Hong Kong - since it began operations in 1969. Specialists in the field of asset and wealth management, Macquarie Bank also offers retail and business banking, commodity trading, capital raising and principal investment services. The bank works closely with the Asia-Pacific region, offering special expertise in areas including agriculture, energy and infrastructure.

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Can I Use Macquarie Bank for International Bank Transfers?

Yes, there are two ways of arranging an international bank transfer with Macquarie Bank:

  1. Utilising Macquarie Bank's partnership with OFX money transfer services

  2. Submitting a Macquarie Overseas Telegraphic Transfer Request Form: found here on their website

Customers can also arrange to receive funds to their Macquarie Bank account from an overseas recipient. Bank details will need to be shared with anyone sending money from overseas to your bank account, such as the bank’s swift SWIFT code: MACQAU2S.

Macquarie Bank Exchange Rates and Fees

In the case of Macquarie Bank, exchange rates and fees are not issued by the bank, but by OFX who provides the international money transfer services.

Exchange Rate

OFX exchange rates are variable, due to the constant fluctuations of foreign exchange, but mark-ups on the 55 available currencies range between 0.4% to 1.5% above the mid-market rate. This is generally far lower than banks, most of whom charge up to 5% over the mid-market rate.

Transfer Fees

OFX charges a flat-fee of $15 AUD for all international money transfers under $10,000 AUD; this fee is waived for all transfers exceeding this amount.

Additional Costs

OFX advises customers that intermediary or receiving banks may charge their own fees for handling the money transfer: the fees will vary depending on the type of transaction and may be deducted from the original transfer amount.

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

Due to the fact Macquarie Bank outsources their international money transfer services to OFX, a highly-rated and reliable specialist provider, customers afford traditional bank transfer fees. Having said that, OFX do charge Australian customers $15 AUD for small to midsize transactions (under $10,000 AUD) and this is a lot higher than the fee structures of other money transfer companies such as Wise, WorldRemit, Xe, TorFX and Instarem.

Macquarie Bank Pros and Cons


Freedom to transfer what you need to, when you need to: OFX do not implement a maximum limit to the amount of funds transferred to international recipients
Best of both worlds: the partnership of this long-standing financial institution and international money transfer provider combines specialist forex expertise with bank-level standards of security
OFX offers transfer services in up to 55 currencies (and counting): this number of foreign currency options far exceeding the offerings of most traditional banks


Available in Australia only: while OFX can be accessed by customers all over the world, Macquarie Bank only services customers residing in Australia
Minimum thresholds for international money transfers higher than most other providers: this may prove to be prohibitive, especially for individuals sending money to their families and friends abroad. Find out more about OFX transfer limits in our review of the company
Bank deposits only: OFX pay-out options are limited compared to other providers

Macquarie Bank Swift Codes

Macquarie Bank LimitedAustraliaSydney
Macquarie Bank LimitedHong KongHong Kong
Macquarie Bank Limited Singapore BranchSingaporeSingapore
Macquarie Bank Limited Seoul BranchSouth KoreaSeoul

How to Open an Account and Transfer Money With Macquarie Bank?

Opening an Account

It takes roughly 5 minutes to complete an application to open a Macquarie Bank account. Once your identity has been verified securely, your account will be instantly accessible and you can begin transferring money overseas.

Step 1: Start the Application Process
Step 2: Enter Some Initial Details
Step 3: Select the Bank Account
Step 4: Review and Finish

Transferring money

  • Step 1. Log into your Macquarie Bank online banking and select the $ icon found in the side menu

  • Step 2. Here you will find the option to send an International Money Transfer with OFX; click here to register for an OFX account.

  • Step 3. Once you have signed up for an OFX account – find out how to register with OFX here – you will be asked to pay for the money transfer by moving funds to the Macquarie account: OFX will provide these details.

  • Step 4. After funding the transaction you can submit the transfer with OFX. You will receive a confirmation email as well as updates of the status of your money transfer during the delivery process

What Customer Support Options Are Available?

  • Customers can call International Transfer (IMT) service on 1300 797 494 (overseas customers: +61 2 8667 8082) 24 hours a day, 7 days a week

  • Call the general banking customer service line on 1800 806 310

  • Send a direct message via social media channels Facebook and Twitter

  • Search queries using the Macquarie Help Centre


This Australian Bank offers award-winning services such as an intuitive mobile banking app and globally accessible customer support options. In addition to this, the bank’s decision to outsource their international money transfer services to OFX is a savvy move which greatly benefits customers. We hope this review has provided you with enough information about how OFX conducts global remittances; if you need further information please check out our full review of the company here.

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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 Macquarie Bank

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