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 2.9542 AUD » AED 0.3385
CAD » AUD 1.0267 AUD » CAD 0.9740
CHF » AUD 0.7171 AUD » CHF 1.3945
DKK » AUD 4.9554 AUD » DKK 0.2018
EUR » AUD 0.6662 AUD » EUR 1.5011
FJD » AUD 1.6258 AUD » FJD 0.6151
GBP » AUD 0.5922 AUD » GBP 1.6886
HKD » AUD 6.2344 AUD » HKD 0.1604
ILS » AUD 2.6575 AUD » ILS 0.3763
INR » AUD 57.1429 AUD » INR 0.0175
JPY » AUD 83.3333 AUD » JPY 0.0120
KWD » AUD 0.2457 AUD » KWD 4.0700
LKR » AUD 153.8462 AUD » LKR 0.0065
NOK » AUD 6.9061 AUD » NOK 0.1448
NZD » AUD 1.1150 AUD » NZD 0.8969
OMR » AUD 0.3095 AUD » OMR 3.2310
PLN » AUD 3.0285 AUD » PLN 0.3302
SAR » AUD 3.0175 AUD » SAR 0.3314
SBD » AUD 6.9061 AUD » SBD 0.1448
SEK » AUD 6.7751 AUD » SEK 0.1476
SGD » AUD 1.0705 AUD » SGD 0.9341
THB » AUD 24.2131 AUD » THB 0.0413
TRY » AUD 6.0277 AUD » TRY 0.1659
USD » AUD 0.8039 AUD » USD 1.2439
VUV » AUD 87.7193 AUD » VUV 0.0114
XPF » AUD 78.7402 AUD » XPF 0.0127
ZAR » AUD 12.2850 AUD » ZAR 0.0814

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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