Vell vs ANZ: What Does ANZ's "No Fee" International Transfer Actually Cost You?
Category: Comparisons
Tags: money transfer, ANZ, send money overseas, AUD, international transfer
URL: vell.net/blog/send-money-to-philippines-with-anz
ANZ is one of Australia's most recognised banks, with a strong international presence across Asia-Pacific. For Australians sending money to the Philippines, India, or elsewhere in the region, ANZ might seem like a natural first choice — especially with no transfer fee advertised.
But as with most bank international transfers, the fee isn't the whole story.
Quick Verdict
| Vell | ANZ | |
|---|---|---|
| Exchange rate (AUD → PHP) | 43.995 | 42.182 |
| Transfer fee (AUD 1,000) | AUD 7.60 | None |
| PHP received on AUD 1,000 | ~43,995 PHP | ~42,182 PHP |
| Difference | +1,813 PHP more with Vell | — |
| Regulated in Australia | Yes (AUSTRAC) | Yes (APRA + AUSTRAC) |
| Travel eSIM | Yes | No |
| Best for | Transparent, value-driven transfers | Existing ANZ customers prioritising convenience |
The Rate Is the Fee
ANZ advertises no transfer fee on international payments. What they don't advertise is the exchange rate they apply — which is set by ANZ, not the market.
On a AUD 1,000 → PHP transfer:
| Vell | ANZ | |
|---|---|---|
| Exchange rate | 43.995 | 42.182 |
| PHP received | ~43,995 PHP | ~42,182 PHP |
| Effective cost | AUD 7.60 fee, competitive rate | No fee, but ~1,813 PHP less delivered |
That 1,813 PHP gap is ANZ's margin — embedded in the rate rather than shown as a fee. On a AUD 1,000 transfer, that's roughly equivalent to AUD 42–43 in lost value.
Vell shows its AUD 7.60 fee openly before you confirm. ANZ shows nothing — but takes considerably more.
What Is the Mid-Market Rate?
The mid-market rate is the real exchange rate — the one you'd find on Google or XE. It's what banks use when trading with each other. Retail customers like you and me don't get that rate from a bank. ANZ sets its own retail rate, and the gap between that and the mid-market rate is where their margin lives.
Transfer Speed
| Vell | ANZ | |
|---|---|---|
| Typical transfer time | Minutes to hours | 1–5 business days |
| 24/7 availability | Yes | Business hours dependent |
| Real-time tracking | Yes | Limited |
ANZ transfers typically move via SWIFT, which can involve correspondent banks along the way. Those correspondent banks sometimes deduct their own fees from the transfer amount — meaning your recipient could receive even less than ANZ's rate implies.
Features Comparison
| Vell | ANZ | |
|---|---|---|
| Mobile app | iOS + Android | iOS + Android (ANZ app) |
| Travel eSIM | Yes | No |
| Business transfers | Yes | Yes |
| Rate transparency | Full — shown before you send | Rate set by ANZ at time of transfer |
| Correspondent bank fees | None | Possible (deducted at recipient end) |
| Corridors | 28+ currencies, 11+ regions | Multiple currencies |
Who Should Use ANZ?
ANZ makes sense if you:
- Send money very infrequently and want to use an existing account
- Are transferring a small amount where the rate difference is minimal
- Prioritise having everything in one banking relationship
Who Should Use Vell?
Vell is the better choice if you:
- Send money to the Philippines, India, Pakistan or other supported corridors regularly
- Want full transparency on what you're paying before you confirm
- Travel often and want eSIM and transfers in one app
- Care about maximising how much arrives at the other end
The Bottom Line
ANZ's no-fee promise is real — but the exchange rate is where the cost lives. On a AUD 1,000 → PHP transfer, ANZ's rate means your recipient gets ~1,813 PHP less than they would with Vell. That's the equivalent of roughly AUD 42–43, paid invisibly through the rate.
Vell charges AUD 7.60 upfront and gives you a competitive rate. You pay less overall, and you know exactly what you're paying before you send.
Send more, pay less — try Vell free → get started.
Use our currency converter to check live AUD to PHP exchange rates.
Rates quoted are based on a live AUD 1,000 → PHP transfer comparison as of 22 May 2026. Exchange rates fluctuate — always check current rates before sending.