CommBank Discount Codes and Coupons December 2016

Information verified correct on December 5th, 2016

Look for CommBank promo codes so you can get a discount on international money transfers.

Commonwealth Bank provide 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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How do I use my CommBank discount code?

How do I use my CommBank discount code?

  1. Log into Netbank to make a online transfer to an international account. You can also send money overseas from a Commonwealth Bank branch.
  2. Increase your international money transfer limit. CommBank set the limit as $0 by default. In NetBank, look for the security and payments menu and navigate to the international money transfers section.
  3. From Netbank, when you’ve selected the payee or created a new payee using the recipient's personal and bank account details, look for the section that asks you to enter a promo code.
  4. Once you apply this code you will receive a discount on the Commonwealth Bank international money transfer fee. The receiving and intermediary banks may also charge a fee for this transaction.

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 USD1 AUD = 0.6191 EUR1 AUD = 2.6381 ILS
1 AUD = 0.4480 GBP1 AUD = 1.4594 FJD1 AUD = 82.4700 JPY
1 AUD = 0.9358 CAD1 AUD = 5.2406 HKD1 AUD = 1.0139 NZD
1 AUD = 4.5124 CNY1 AUD = 201.4440 HUF1 AUD = 5.9905 NOK
1 AUD = 17.2270 CZK1 AUD = 46.9940 INR1 AUD = 32.8700 PHP
1 AUD = 4.6616 DKK1 AUD = 9674.1030 IDR1 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.

Shirley Liu

Shirley is finder.com.au's publisher for banking and investments. She is currently studying a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

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