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 2.8877 AUD » AED 0.3463
CAD » AUD 0.9766 AUD » CAD 1.0240
CHF » AUD 0.7243 AUD » CHF 1.3806
DKK » AUD 4.9213 AUD » DKK 0.2032
EUR » AUD 0.6619 AUD » EUR 1.5108
FJD » AUD 1.6158 AUD » FJD 0.6189
GBP » AUD 0.5689 AUD » GBP 1.7578
HKD » AUD 6.1013 AUD » HKD 0.1639
ILS » AUD 2.5793 AUD » ILS 0.3877
INR » AUD 55.5556 AUD » INR 0.0180
JPY » AUD 86.2069 AUD » JPY 0.0116
KWD » AUD 0.2371 AUD » KWD 4.2176
LKR » AUD 156.2500 AUD » LKR 0.0064
NOK » AUD 6.8120 AUD » NOK 0.1468
NZD » AUD 1.1176 AUD » NZD 0.8948
OMR » AUD 0.3027 AUD » OMR 3.3036
PLN » AUD 3.0157 AUD » PLN 0.3316
SAR » AUD 2.9481 AUD » SAR 0.3392
SBD » AUD 6.4144 AUD » SBD 0.1559
SEK » AUD 6.7613 AUD » SEK 0.1479
SGD » AUD 1.0565 AUD » SGD 0.9465
THB » AUD 24.7525 AUD » THB 0.0404
TRY » AUD 6.8729 AUD » TRY 0.1455
USD » AUD 0.7860 AUD » USD 1.2723
VUV » AUD 85.4701 AUD » VUV 0.0117
XPF » AUD 77.5194 AUD » XPF 0.0129
ZAR » AUD 11.2613 AUD » ZAR 0.0888

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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