It seriously pays to pay attention to the rates between banks.
I was doing a telegraphic transfer between my Australian bank account to my NZ account, transferring AUD -> NZD.
I hit "go", and shortly after noted I was getting the rate 1.201. After checking, I realised that if I just transferred AUD I would get 1.24 from my NZ bank. This was like a $200 NZD difference. Fortunately I was able to cancel, transfer AUD and convert on the other end.
I was doing a telegraphic transfer between my Australian bank account to my NZ account, transferring AUD -> NZD.
I hit "go", and shortly after noted I was getting the rate 1.201. After checking, I realised that if I just transferred AUD I would get 1.24 from my NZ bank. This was like a $200 NZD difference. Fortunately I was able to cancel, transfer AUD and convert on the other end.
Compare e.g. the following:
* http://www.westpac.com.au/personal-banking/services/fx-calcu... * https://www.westpac.co.nz/international-migrant/foreign-exch...
Today, the difference between Westpac Australia and Westpac NZ is 1.21 versus 1.24 for telegraphic transfers...