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 0.3881 AUD » AED 2.5766
CAD » AUD 1.0354 AUD » CAD 0.9658
CHF » AUD 1.4495 AUD » CHF 0.6899
CNY » AUD 0.2048 AUD » CNY 4.8831
CZK » AUD 0.0583 AUD » CZK 17.1490
DKK » AUD 0.2103 AUD » DKK 4.7540
EUR » AUD 1.5765 AUD » EUR 0.6343
FJD » AUD 0.6653 AUD » FJD 1.5031
GBP » AUD 1.8567 AUD » GBP 0.5386
HKD » AUD 0.1844 AUD » HKD 5.4233
HUF » AUD 0.0050 AUD » HUF 202.0000
IDR » AUD 0.0001 AUD » IDR 9357.3800
ILS » AUD 0.3963 AUD » ILS 2.5232
INR » AUD 0.0221 AUD » INR 45.3410
JPY » AUD 0.0128 AUD » JPY 77.9700
KRW » AUD 0.0012 AUD » KRW 800.9447
KWD » AUD 4.6926 AUD » KWD 0.2131
LBP » AUD 0.0009 AUD » LBP 1063.1200
LKR » AUD 0.0094 AUD » LKR 106.8900
MUR » AUD 0.0413 AUD » MUR 24.1900
NOK » AUD 0.1640 AUD » NOK 6.0982
NZD » AUD 0.9781 AUD » NZD 1.0224
OMR » AUD 3.7467 AUD » OMR 0.2669
PGK » AUD 0.4669 AUD » PGK 2.1419
PHP » AUD 0.0286 AUD » PHP 34.9130
PLN » AUD 0.3729 AUD » PLN 2.6817
SAR » AUD 0.3852 AUD » SAR 2.5960
SBD » AUD 0.1952 AUD » SBD 5.1217
SEK » AUD 0.1610 AUD » SEK 6.2098
SGD » AUD 1.0188 AUD » SGD 0.9815
THB » AUD 0.0414 AUD » THB 24.1800
TRY » AUD 0.3969 AUD » TRY 2.5195
USD » AUD 1.4329 AUD » USD 0.6979
VND » AUD 0.0001 AUD » VND 15977.0000
VUV » AUD 0.0134 AUD » VUV 74.3900
XPF » AUD 0.0133 AUD » XPF 75.4200
ZAR » AUD 0.1047 AUD » ZAR 9.5485

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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