Commonwealth Bank international money transfers

Commbank international money transfer must knows

• Transfer maximum: The maximum amount you can transfer via NetBank is $50,000. For larger amounts, you can visit your local branch.
• Speed of transfer: It generally takes 1-3 business days for funds to hit your recipient’s account for the majority of currencies after your payment instructions have been accepted. However,  this timeframe may be affected by the requirements and practices of overseas banks and regulators.

• Transfer Fees: If you complete your transfer in-branch the cost is $30 or $6 for foreign currency if you use the CommBank App or NetBank.

International Money Services at Commonwealth Bank

For the bulk of people who need to send money internationally whether occasionally or every month, the international money transfer option on NetBank or via the CommBank App is a convenient and secure way to send money around the globe.

Commonwealth Bank also has a foreign currency account option. This is primarily for people who need to hold savings in another currency or regularly send money overseas. If this type of account is of interest to you, you’ll need to discuss with CommBank directly.

Why choose CBA for your international money transfer

If you’re looking for convenience and security of a bank, transferring funds internationally with CommBank ticks all the boxes. Some other reasons you might want to choose them for your IMT needs include: 

• Global reach. You can transfer money to over 200 countries in 30 currencies from NetBank
• Fees are not based on currency or transfer amount, you get charged a flat fee no matter how much you are transferring
• Send money anywhere, anytime via NetBank, phone using the CommBank App or at one of the 1000 CBA branches around Australia

How to transfer money overseas with CommBank

Before transferring money abroad, you'll need to be a Commonwealth Bank customer which you can do by setting up an account online or at one of its branches first. 

When you’re ready to make an international money transfer you will need to get some important information from the person or business you are sending your funds to. This will ensure that your money is sent to the right account overseas. You will need the following information:

• Bank code, full name and address of the bank that you're transferring to
• Recipient's name, address and account name
• Account number or International Bank Account Number (IBAN)
• Amount and currency you are sending