Commonwealth Bank Money Transfer & Exchange Rates

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CommBank

As Australia’s largest bank, they offer a full service platform via their NetBank application. NetBank offers IMT services through NetBank and also the CommBank App. You will have access transferring money to over 30 currencies across 200 different countries globally. CommBank cater to a large variety of transfer needs, ranging from the transfer of a single currency, to a series of regular payments overseas.


CommBank provides quick and easy options for both the most frequent and irregular customers using forex services. The most popular IMT service used by both of these customers is the NetBank portal and the CommBank app to send and receive international payments.

CommBank also provide a popular foreign currency account option. This is most frequently used by customers who hold currencies overseas in foreign banks, or if you are sending money overseas on a regular basis.

KEY INFORMATION

Transfer Limits

There is a maximum amount you can transfer via the NetBank portal, which is subject to your daily withdraw limits as an account holder.

Transfer Time

In most cases it can takes no more than 1- 3 business days for the funds to hit your recipients account. For less common currencies, it can take up to 5 business days.

Transfer Fees

If you are using NetBank or the CommBank App it will in the region of $22. Should you wish to send your transfer in-branch the cost is $30. CommBank operates a flat fee policy regardless of the amount being transferred.

MORE INFORMATION ABOUT CommBank

How a transfer can be made:




 

You will need to be a customer of CommBank if you want to use their services to transfer money overseas. You can apply for an account online or you can visit a local branch, there are over 1000 across Australia.

Once you’re ready to make an international money transfer, you’ll need the transfer information from your recipient in order to make the wire. The vital information required:  Recipients name, address and account name, Account number or IBAN (International Bank Account Number).  Amount and currency you are sending.

 

PROS

  • Good breadth of IMT services
  • Customers have additional services to explore (travel money, cards, overseas money).
  • Variety of ways to transfer your money
  • Established institution

CONS

  • Can be more expensive than dedicated currency providers

Rates table

AED » AUD 2.7086 AUD » AED 0.3692
CAD » AUD 0.9824 AUD » CAD 1.0179
CHF » AUD 0.6751 AUD » CHF 1.4813
DKK » AUD 4.7037 AUD » DKK 0.2126
EUR » AUD 0.6315 AUD » EUR 1.5835
FJD » AUD 1.5480 AUD » FJD 0.6460
GBP » AUD 0.5699 AUD » GBP 1.7547
HKD » AUD 5.7176 AUD » HKD 0.1749
ILS » AUD 2.5240 AUD » ILS 0.3962
INR » AUD 52.9101 AUD » INR 0.0189
JPY » AUD 76.9231 AUD » JPY 0.0130
KWD » AUD 0.2278 AUD » KWD 4.3898
LKR » AUD 135.1351 AUD » LKR 0.0074
NOK » AUD 7.0423 AUD » NOK 0.1420
NZD » AUD 1.0988 AUD » NZD 0.9101
OMR » AUD 0.2838 AUD » OMR 3.5236
PLN » AUD 2.9197 AUD » PLN 0.3425
SAR » AUD 2.7647 AUD » SAR 0.3617
SBD » AUD 6.1013 AUD » SBD 0.1639
SEK » AUD 6.5660 AUD » SEK 0.1523
SGD » AUD 1.0060 AUD » SGD 0.9940
THB » AUD 22.9885 AUD » THB 0.0435
TRY » AUD 6.1538 AUD » TRY 0.1625
USD » AUD 0.7372 AUD » USD 1.3565
VUV » AUD 80.6452 AUD » VUV 0.0124
XPF » AUD 74.6269 AUD » XPF 0.0134
ZAR » AUD 12.0482 AUD » ZAR 0.0830

ABOUT THE COMPANY

The Commonwealth Bank of Australia is the largest and most established bank in the country with additional presence across New Zealand, Asia, Fiji, USA and the United Kingdom. The bank is most notably known as the Commonwealth Bank (or CBA or CommBank. The bank provides a plethora of financial services but not limited to retail, business and institutional banking, funds management, superannuation, insurance and brokering services. It is also the largest Australian listed company in terms and capital and assets on the ASE (Australian Securities Exchange).

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