Making payments

Making international payments

  • Log on to NetBank or CommBiz to send funds in over 30 currencies to a beneficiary’s bank account
  • Payment is sent electronically as cleared funds
  • Funds are usually available to your beneficiary within 2 to 3 business days
  • Currency cut-off times, which determine whether a payment may be held over to the following day due to time-zone differences, apply
  • Extended cut-off times are provided, allowing later payments that are still sent on the same day
  • Receipt of funds is subject to domestic regulations and individual bank practices in the beneficiary’s country
  • Additional fee, to cover overseas banks charges, can be paid upfront in CommBiz for selected countries and currencies

Receiving payments

Receiving international payments

  • Overseas payments are processed in one of the following ways:
    • As per the instruction from the remitter – i.e., payments will only be credited to the account specified by the remitter
    • If the payment is in a foreign currency and the account to be credited is in another currency, the carded rate will be applied to amounts less than or equal to A$250,000
    • If the payment is in a foreign currency and the account to be credited is in another currency, a dealer’s rate will be applied for amounts over A$250,000
  • Before overseas payments are processed, you will need to provide:
    • CommBank's SWIFT code: CTBAAU2S
    • 14 digit account number, account name and account address
  • Fees and charges apply when making or receiving international money transfers, or when initiating an enquiry, cancellation or amendment
  • An alternative way to receive money from overseas is to open a foreign currency account that will:
    • Let you hold funds in the remitted currency
    • Provide the flexibility to either hold the funds or convert them when you choose 

Products & services

  • Make and receive payments in foreign currency 
  • Manage exchange risk.

  • Pay suppliers sooner 
  • The equivalent of a local cheque.