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 2.8027 AUD » AED 0.3568
CAD » AUD 0.9704 AUD » CAD 1.0305
CHF » AUD 0.7097 AUD » CHF 1.4090
DKK » AUD 4.8309 AUD » DKK 0.2070
EUR » AUD 0.6496 AUD » EUR 1.5394
FJD » AUD 1.5848 AUD » FJD 0.6310
GBP » AUD 0.5545 AUD » GBP 1.8034
HKD » AUD 5.9382 AUD » HKD 0.1684
ILS » AUD 2.4456 AUD » ILS 0.4089
INR » AUD 54.6448 AUD » INR 0.0183
JPY » AUD 84.0336 AUD » JPY 0.0119
KWD » AUD 0.2303 AUD » KWD 4.3422
LKR » AUD 153.8462 AUD » LKR 0.0065
NOK » AUD 6.6094 AUD » NOK 0.1513
NZD » AUD 1.0704 AUD » NZD 0.9342
OMR » AUD 0.2937 AUD » OMR 3.4048
PLN » AUD 2.9806 AUD » PLN 0.3355
SAR » AUD 2.8620 AUD » SAR 0.3494
SBD » AUD 6.0459 AUD » SBD 0.1654
SEK » AUD 6.6138 AUD » SEK 0.1512
SGD » AUD 1.0283 AUD » SGD 0.9725
THB » AUD 25.3807 AUD » THB 0.0394
TRY » AUD 6.5876 AUD » TRY 0.1518
USD » AUD 0.7628 AUD » USD 1.3110
VUV » AUD 84.7458 AUD » VUV 0.0118
XPF » AUD 76.9231 AUD » XPF 0.0130
ZAR » AUD 11.2108 AUD » ZAR 0.0892

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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