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 2.4907 AUD » AED 0.4015
CAD » AUD 0.9134 AUD » CAD 1.0948
CHF » AUD 0.5949 AUD » CHF 1.6810
DKK » AUD 4.6512 AUD » DKK 0.2150
EUR » AUD 0.6209 AUD » EUR 1.6106
FJD » AUD 1.5434 AUD » FJD 0.6479
GBP » AUD 0.5305 AUD » GBP 1.8850
HKD » AUD 5.2938 AUD » HKD 0.1889
ILS » AUD 2.5465 AUD » ILS 0.3927
INR » AUD 54.6448 AUD » INR 0.0183
JPY » AUD 98.0392 AUD » JPY 0.0102
KWD » AUD 0.2116 AUD » KWD 4.7259
LKR » AUD 217.3913 AUD » LKR 0.0046
NOK » AUD 7.1839 AUD » NOK 0.1392
NZD » AUD 1.1283 AUD » NZD 0.8863
OMR » AUD 0.2610 AUD » OMR 3.8314
PLN » AUD 2.7886 AUD » PLN 0.3586
SAR » AUD 2.5439 AUD » SAR 0.3931
SBD » AUD 5.6085 AUD » SBD 0.1783
SEK » AUD 7.4019 AUD » SEK 0.1351
SGD » AUD 0.9132 AUD » SGD 1.0951
THB » AUD 23.6967 AUD » THB 0.0422
TRY » AUD 18.4502 AUD » TRY 0.0542
USD » AUD 0.6739 AUD » USD 1.4839
VUV » AUD 80.6452 AUD » VUV 0.0124
XPF » AUD 72.4638 AUD » XPF 0.0138
ZAR » AUD 12.5313 AUD » ZAR 0.0798

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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