CommBank international money transfers

Take advantage of safe transfers when you send or receive money overseas with Commonwealth Bank (CBA).

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Commonwealth Bank

The Commonwealth Bank is one of Australia’s leading providers of financial and banking services. With almost $800 million in assets and some 1,100 branches around the country, the Commonwealth Bank is one of Australia’s leading "big four" banks.

As part of its wide range of products and services, CBA allows its customers to make international money transfers. Using the bank’s services, you can transfer funds to more than 200 countries and in over 30 currencies. Some payments take just 24 hours to be processed, while another advantage of using a big bank is that you can enjoy the security of knowing that your transfer will be conducted through the international banking system.

CBA exchange rates

As one of Australia’s "big four" banks, Commonwealth Bank’s exchange rates are usually very similar to those offered by the other big banks. In fact, a comparison across the board between CommBank, ANZ, NAB and Westpac, and you’ll find little difference. CBA allows you to transfer money in more than 30 currencies, from common currencies like the Euro through to more exotic offerings like the Czech Koruna.

Bank rates are updated multiple times a day to reflect prevailing market conditions.

Find today's exchange rate here

It’s also worth noting that if you lodge a transfer via your local branch, you can request that any fees imposed by intermediary or receiving banks will be paid by you rather than the recipient. As an example, if you transfer money to the USA, you’ll have to pay an extra $30 fee in addition to the charge imposed from the table above.

Minimum transfer amount and available countries

There is no minimum payment amount for an international money transfer with CBA. While the standard amount you can send overseas at any one time through NetBank is $2,000, you can apply to have this limit raised to up to $50,000.

CBA allows you to transfer money into more than 30 currencies and to over 200 countries. While there’s no list available that outlines the countries you are unable to transfer to through CBA, transfers to countries such as Afghanistan, Cuba, Iran, Iraq, Syria and Somalia are not available.

CBA allows transfers in the following currencies:

CADCNYCZKDKK
EURFJDGBPHKD
HUFINRIDRILS
JPYKWDLBPMUR
XPFNZDNOKOMR
PGKPHPPLNSAR
SGDSBDZARKRW
LKRSEKCHFTHB
TRYAEDUSDVUV
VNDWST TOPTWD

What types of transfers can you carry out with CBA?

  • Internet banking. You can lodge an international money transfer through your NetBank account.
  • In-branch banking. You can lodge a transfer by visiting a branch, but you’ll be charged more for the transaction than if done online.
  • Phone banking. It’s also possible to complete transactions via phone banking.
  • Forward contracts. CBA allows you to lock in an exchange rate now for a transfer you want to make in the future.
  • One-off transfers. You can lodge a one-off transfer with CBA.
  • Regular transfers. You can also set up regular scheduled transfers to automatically send funds overseas.

If you ever need assistance when conducting a CBA international money transfer, there are plenty of customer service options available. As well as seeking help in branch, you can search the bank’s online help resources, ask a question on the CBA community, or even phone for assistance.

How to receive money to your CBA account

The registration and transfer process

Screenshot 2015-10-01 15.45.33You’ll need to be a CBA customer in order to use its money transfer services. You can open an account at a CBA branch by supplying appropriate identification and your contact details. If you wish to sign up for NetBank in order to perform your transactions, you can do this online by supplying details of your Commonwealth Bank debit card, credit card or keycard, plus your mobile phone number.

The first time you lodge an international money transfer via NetBank, you’ll have to click on "Increase Your Limit Now" to set your international money transfer limit.

Once that’s done, select "Transfers and BPAY" and click on "International Money Transfer". Enter the country you’re transferring money to and the recipient’s bank code.

Next, type in the recipient’s bank details and select the account you would like to transfer the funds from.

Finally, enter the amount and currency, and then click "Next" to confirm your transfer.

Most transfers are processed within two to five business days.

What are the pros and cons?

Pros

  • Secure. Using a trusted provider like CBA means your transfer is conducted through the secure SWIFT international banking system.
  • Range of options. You can lodge your transfer online, over the phone or in a branch.
  • Range of currencies. With more than 30 currencies available, CBA allows you to send funds to over 200 countries.

Cons

  • Fees apply. Fees apply to any international money transfer conducted through CBA.
  • Exchange rates. You’ll typically be able to find better exchange rates from dedicated international money transfer companies.

What other products and services does CommBank offer?

  • Foreign currency accounts. You can choose from 15 major global currencies and send and receive payments to and from overseas without having to repeatedly convert currencies.
  • Travel money cards. A travel money card from CBA allows you to load up to 13 currencies onto your card, which is accepted at more than 35 million locations worldwide. No transaction fees apply to purchases.
  • Travellers’ cheques. The bank offers American Express travellers’ cheques in US Dollars, Euros, Great British Pounds, Canadian Dollars and Japanese Yen.
  • International bank drafts. CBA provides bank drafts in 14 currencies across 19 countries. Drafts are treated as local cheques, allowing recipients to access their money quicker.

Find cheaper alternatives to CommBank

Sending money overseas with the Commonwealth Bank often involves high fees and less competitive exchange rates. You also may be hit with correspondant bank fees along the way. For cheaper options, check out the table below.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 day AUD 52.00 0.656 USD
6,524
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.653 USD
6,532
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.653 USD
6,532
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.653 USD
6,532
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.653 USD
6,532
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.653 USD
6,532
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
USD 0 1 - 2 days AUD 2.99 0.649 USD
6,484
Quick, affordable transfers around the world. Remitly also has an express option that can transfer your money in minutes for a higher fee. The cheaper option takes several days. Go to site Show details
AUD 1 1 day AUD 0.00 0.653 USD
6,525
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.649 USD
6,491
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.648 USD
6,477
Use promo code 3FREE to send your first 3 transfers with no fee.
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Go to site Show details
AUD 200 1 day AUD 0.00 0.651 USD
6,506
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

FAQs about CommBank overseas transfers

Do I need to be an Australian resident?

Not necessarily. Holders of 457 visas may be able to open a CBA account.

Do I need to be a CBA customer to transfer funds?

Yes, you’ll need to hold an account with CBA before you can use the bank’s international money transfer services.

Is this service available for small businesses?

Yes, small business can use CBA’s services to send money overseas.

How long do transfers take?

Most transfers take between two and five business days to be processed.

CBA offers a quick and easy option when you’re looking to transfer money overseas. However, make sure you compare the rates and fees of CBA with other banks and money transfer services so that you end up using the provider that gives you the best possible deal.


Commonwealth Bank (CBA) offers an easy solution when you’re looking to make an international money transfer. CBA offers transfers into more than 30 currencies and to over 200 countries around the world.


International Money Transfer Offers

Important Information*
Logo for SingX International Money Transfers
SingX International Money Transfers

SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

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