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How to receive an international transfer with Commonwealth Bank

Find out what you need to know to receive an international money transfer with CommBank.

Updated

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Is someone sending money to your CBA account from overseas? Find out everything you need to know including the SWIFT code, the fees you should know about and what other options you

Where can I find the information I need to receive a CBA transfer?

To receive a transfer with your Commbank account, you'll need to give the sender the following details.

  • Bank name. Commonwealth Bank of Australia is CBA's full, proper name.
  • CBA's BIC/SWIFT code. This is CTBAAU2S, which you can find through the FAQ section of Commbank's website.
  • Your BSB number, account number and account name. You can find this information online in your NetBank account, or can call CBA on 13 2221.
  • Your branch address. Use the CBA branch locator to find the address of your branch.

SWIFT, IBAN and BIC: What's the difference?

What fees are involved for the receiver?

The fees involved will vary depending on where the money is coming from, the currencies involve, which bank the sender is using and more. These fees are typically taken out of the money en route and deducted from the amount sent.

Transfer typeFee
Transfer made directly to a CBA accountUp to $11
Payment by bank cheque$20
Payment made to a non-customer or transferred to another bank in Australia$25
Bank cheque issued for amounts of $100 and over$27
Payment transferred to a foreign currency account at another bank$35

Fees explained

The fees charged by CBA are listed above, but those are not the only fees which may apply.

In addition to those, the sender's bank or other correspondent banks on the transfer route are likely to apply their own fees. These may include:

  • Sending fee. The sender's bank is likely to charge a fee for the transfer service.
  • Correspondent bank fees. The intermediary banks will typically take a cut of the money as it passes through them.
  • Exchange fees There may be fees charged or commissions taken on the currency exchanging.
  • Exchange fees. There may be fees charged or commissions taken on the currency exchanging.
  • Fees for paying the fees. Many banks will let the sender cover all the fees up front to ensure the correct amount of money arrives, but doing so will often incur an additional fee on top of the cost of the fees themselves.

All of these fees are why specialised money transfer services can be so much cheaper. They can send customer payments in bundles to spread the fees out and use different banks for different transfers to help cut costs.

What form can I receive the transfer in?

You can receive the transfer in several different forms.

  • Bank account deposit. This is the most common option these days. You can get the funds delivered directly to your CBA bank account. These are typically known as telegraphic transfers or wire transfers.
  • International bank draft. A bank draft is like an international cheque that's been paid for up front and in full by the sender. It can only be deposited into the specified bank account, making it a secure option.
  • Cheque. International cheques are similar to international bank drafts, except they're not paid for up front. The funds are only withdrawn from the sender's account when you cash the cheque.
  • Money order. A money order is similar to a bank draft, except it can be deposited and cashed in different places.

If you want to pick up cash, check out what money transfer services can help you out.

Are there cheaper alternatives to Commbank?

Money transfer services will typically be cheaper than bank transfers. If you want to receive more money in your account or want to save the sender some money, you can ask them to use a specialist money transfer service instead.

The table below shows some of the options available.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.71 USD
7,101
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 0.71 USD
7,101
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 0.71 USD
7,101
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
AUD 250 1 - 2 days AUD 0.00 0.71 USD
7,101
$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
GBP 3,000 1 day AUD 0.00 0.71 USD
7,101
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 1 1 day AUD 52.00 0.709 USD
7,057
Pay no fees on your first two transfers, up to $3,000.
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 0 Same day AUD 2.99 0.705 USD
7,049
Special offers like free transfers and better exchange rates available for new customers.
Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.
Go to site Show details
AUD 1 Same day AUD 0.00 0.709 USD
7,094
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.713 USD
7,089
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.706 USD
7,057
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 Same day AUD 3.99 0.704 USD
7,042
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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.

More on sending money with CommBank

Frequently asked questions

More guides on Finder

International Money Transfer Offers

Important Information*
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.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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