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Commonwealth Bank provides a number of international banking services such as international money transfers, buying and selling foreign cash and it even has a prepaid travel money card. International bank to bank transfers can be expensive – Commonwealth Bank issue promo codes you can use to get a discount on international money transfer fees.
CommBank discount codes and coupons
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What services does CommBank offer?
CommBank provide these travel services and products as well as international money transfers.
- Travel money card. The Commonwealth Bank Travel Money Card is a prepaid reloadable MasterCard you can use to shop overseas. You can load up to 13 international currencies at a locked-in exchange rate and spend in a loaded currency without paying extra currency conversion charges.
- Foreign cash. Commonwealth Bank sell foreign cash online and at selected branches. You can order the foreign currency equivalent of AUD$500 to AUD$10,000.
- Travel insurance. Some Commonwealth Bank credit cards feature complimentary international travel insurance when you charge the cost of your travel ticket to your account. Commonwealth also offer standalone policies you can purchase online before you leave the country. Get covered for lost luggage, medical expenses and missed flights, dependent children are also included in CommBank travel cover.
- Travellers cheques. Commonwealth Bank issue travellers cheques in conjunction with American Express. You can purchase United States Dollar, Euro, Pound Sterling, Canadian Dollar and Japanese Yen travellers cheques. Commonwealth Bank travellers cheques don’t expire, only you can cash the cheques and they can be replaced if they're lost or stolen.
- Travel loan. Commonwealth Bank offer personal loans to help fund your holiday. You can borrow $5,000 to $50,000. Commonwealth Bank offer repayment terms for period of 1 to 7 years.
What currencies can I trade with CommBank?
CommBank let you send money to more than 200 different countries in over 30 currencies. We’ve listed foreign exchange rates for some of the world’s commonly traded currencies so you can compare international money transfer options.
| 1 AUD = 0.6790 USD | 1 AUD = 0.6191 EUR | 1 AUD = 2.6381 ILS |
| 1 AUD = 0.4480 GBP | 1 AUD = 1.4594 FJD | 1 AUD = 82.4700 JPY |
| 1 AUD = 0.9358 CAD | 1 AUD = 5.2406 HKD | 1 AUD = 1.0139 NZD |
| 1 AUD = 4.5124 CNY | 1 AUD = 201.4440 HUF | 1 AUD = 5.9905 NOK |
| 1 AUD = 17.2270 CZK | 1 AUD = 46.9940 INR | 1 AUD = 32.8700 PHP |
| 1 AUD = 4.6616 DKK | 1 AUD = 9674.1030 IDR | 1 AUD = 24.3800 THB |
*Rates expressed as 1 AUD for bank sell as international money transfer foreign exchange rates. 05.56AM 16/12/15 AEST and subject to change without notice.
CommBank Review | Pros and Cons
Pros
- Convenience. Send money right from your CommBank transaction account. There’s no need to register an account with another international money transfer provider.
- Trusted. CommBank are a trusted name in Australian banking. NetBank and Commonwealth Bank mobile banking use encrypted software which ensures your personal and financial information is safe from fraudsters.
Cons
- International transfer fees. Bank to bank transfers are expensive. Netbank international money transfers cost less than transfers from a branch.
- Limited currencies. Commbank allow you to transfer money in 30 different currencies. Dedicated international money transfers deal in more exotic currencies.
How can I get CommBank free transfers?
Commbank charge international money transfer transaction fees. A promo code can get you a discount. You’ll pay $22.00 when you send money online from Netbank. Transfers from a branch cost $30.00
How do CommBank transfers work?
For security reasons, CommBank set the daily international payment limit as $0. You’ll need to increase the limit before you make a transfer. You can do this over the phone or online in NetBank’s security and payments menu. Using the ‘pay anyone’ NetBank or Commonwealth mobile banking transfer, enter the recipient's personal information such as their address and account name. You’ll also need the IBAN or SWIFT code for the recipient's bank. CommBank have a tool that let’s you look up the recipient's bank code.
What forms of payment does CommBank accept?
Transfer money overseas from Netbank. You can pay international accounts from your Commbank transaction account. You may also be able to pay cash at a CommBank branch.
What is the CommBank refunds policy?
If you want to cancel your transfer, or your international transfer hasn’t reached the recipient's account, you can get Commonwealth Bank to investigate the transfer for a fee. You can also cancel the international money transfer. A $25 fee applies.
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