Purchasing foreign cash

Foreign exchange is the buying and selling of money from other countries. It enables you to pay for goods and services that originate in another country in the currency of that country.

The rate at which the money of one country is bought or sold for that of another is called the foreign exchange rate. For example, one Australian dollar might buy 80 US cents.

In Australia, we use a floating exchange rate system, meaning that the value of the Australian dollar can rise and fall from day to day, depending on the demand for our currency. An unexpected surge or slump in the value of the Australian dollar can put a hole in your pocket – or a smile on your face, depending which side of the fence you’re on.

For example, an increase in the value of the Australian dollar is good if you are planning to travel overseas, as it means you can buy more foreign money. If the dollar falls, then you may have to spend more Australian money to buy another currency.

Foreign Exchange ATMs

You can also visit selected Commonwealth Bank branches and withdraw your foreign cash straight from one of our Foreign Exchange ATMs.

Our Foreign Exchange ATMs dispense cash in four major currencies: US dollars, Euros, Great British pounds and New Zealand dollars. Simply use your Australian issued debit or credit card* and you can withdraw up to AUD1,000 worth of foreign cash. Best of all, you'll know exactly how much your foreign cash will cost when you withdraw it, so there's no surprises.

See our list of Foreign Exchange ATM locations.

ExpressFX

Save time and money by pre-ordering your foreign cash and travellers cheques online using ExpressFX. Your order will be delivered to your nominated Commonwealth Bank branch within 1-3 business days of payment.

Even if you are not a Commonwealth Bank customer, we can still help you buy or sell foreign cash. All you need to do is meet our identification requirements.

How to buy foreign cash using ExpressFX

1. Make your choice from more than 30 foreign currencies. Orders are accepted for values between AUD250 and AUD10,000.
2. Confirm your quote.
3. Choose your preferred branch for collection.
4. Complete your payment details. You can pay using BPAY® via NetBank, telephone banking or through your own financial institution.
5. Once payment is received, we will deliver your order within three working days to a Commonwealth Bank branch of your choice.

When buying foreign cash, we recommend that you purchase or place your order at least one week before you leave.

Contact us for more information on foreign exchange or read the Frequently Asked Questions.

The foreign exchange glossary provides a detailed explanation of commonly used foreign exchange terms.

 

• Important information
  *Foreign Exchange ATMs do not accept International, American Express or Diners Club cards. Exchange rates shown on a Foreign Exchange ATM are applicable to the Foreign Exchange ATM only. A foreign exchange fee applies in addition to any standard fees and charges applicable to your account.
  
  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on this advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 160kb).
  
  ® Registered to BPAY Pty Ltd ABN 69 079 137 518.