Commission/exchange rates for wiring money home

Soon I plan to wire around $15 000 Australian dollars from my Union Bank account to Australia.

Of course they will charge a commission on their exchange rate.

Please recommend a bank that has low foreign exchange commissions.

I would presume that the more one transfers, the lower the commission rate.

I believe they charge a flat rate that is very reasonable. I used the SWIFT system but I’m not sure which bank it was. Certainly not the post office bank.

I used the post office bank. Went through fine and the exchange rate and fees were basically not significant. I like that bank the best as there is almost never a que, and they open till 5pm too

Forget about the commission, most banks don’t have one or its negligible.

Choose the institution that gives you the best exchange rate.

I believe what he’s really asking is if you are given a preferred exchange rate if the amount you are sending is large. My guess is that this is very possible. I don’t handle large amounts of cash because of bank requirements associated with US nationals.

The commission is about 300 NT. It will very possibly be larger on the receiving bank side (it is for me when I wire money to Bank of America from here). About $20 US dollars on the receiving side.


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