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 2.7405 AUD » AED 0.3649
CAD » AUD 0.9944 AUD » CAD 1.0056
CHF » AUD 0.6852 AUD » CHF 1.4594
DKK » AUD 4.7371 AUD » DKK 0.2111
EUR » AUD 0.6359 AUD » EUR 1.5726
FJD » AUD 1.5669 AUD » FJD 0.6382
GBP » AUD 0.5721 AUD » GBP 1.7479
HKD » AUD 5.7803 AUD » HKD 0.1730
ILS » AUD 2.5504 AUD » ILS 0.3921
INR » AUD 54.3478 AUD » INR 0.0184
JPY » AUD 79.3651 AUD » JPY 0.0126
KWD » AUD 0.2327 AUD » KWD 4.2974
NOK » AUD 6.7385 AUD » NOK 0.1484
NZD » AUD 1.1226 AUD » NZD 0.8908
OMR » AUD 0.2872 AUD » OMR 3.4819
PLN » AUD 2.8043 AUD » PLN 0.3566
SAR » AUD 2.7988 AUD » SAR 0.3573
SBD » AUD 6.3331 AUD » SBD 0.1579
SEK » AUD 6.5488 AUD » SEK 0.1527
SGD » AUD 1.0253 AUD » SGD 0.9753
THB » AUD 23.2558 AUD » THB 0.0430
TRY » AUD 5.4171 AUD » TRY 0.1846
USD » AUD 0.7460 AUD » USD 1.3405
VUV » AUD 84.0336 AUD » VUV 0.0119
XPF » AUD 74.6269 AUD » XPF 0.0134
ZAR » AUD 13.1062 AUD » ZAR 0.0763

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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