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 2.6745 AUD » AED 0.3739
CAD » AUD 0.9374 AUD » CAD 1.0668
CHF » AUD 0.6974 AUD » CHF 1.4339
DKK » AUD 5.1361 AUD » DKK 0.1947
EUR » AUD 0.6869 AUD » EUR 1.4558
FJD » AUD 1.5823 AUD » FJD 0.6320
GBP » AUD 0.5905 AUD » GBP 1.6935
HKD » AUD 5.6915 AUD » HKD 0.1757
ILS » AUD 2.4832 AUD » ILS 0.4027
INR » AUD 55.5556 AUD » INR 0.0180
JPY » AUD 98.0392 AUD » JPY 0.0102
KWD » AUD 0.2253 AUD » KWD 4.4385
LKR » AUD 270.2703 AUD » LKR 0.0037
NOK » AUD 7.1891 AUD » NOK 0.1391
NZD » AUD 1.1457 AUD » NZD 0.8728
OMR » AUD 0.2803 AUD » OMR 3.5676
PLN » AUD 3.2342 AUD » PLN 0.3092
SAR » AUD 2.7322 AUD » SAR 0.3660
SBD » AUD 5.9137 AUD » SBD 0.1691
SEK » AUD 7.3746 AUD » SEK 0.1356
SGD » AUD 1.0054 AUD » SGD 0.9946
THB » AUD 25.8398 AUD » THB 0.0387
TRY » AUD 12.2249 AUD » TRY 0.0818
USD » AUD 0.7237 AUD » USD 1.3818
VUV » AUD 84.7458 AUD » VUV 0.0118
XPF » AUD 81.3008 AUD » XPF 0.0123
ZAR » AUD 11.5207 AUD » ZAR 0.0868

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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