International money transfers for business

An international money transfer for business is a payment sent from a business bank account in one country, to a recipient overseas. This could include a supplier, partner, or employee. These transfers can be used to pay for goods, services, salaries, or investments across borders and often involve currency conversion.

Businesses typically need to provide recipient information and comply with currency regulations and international banking standards. Transfers may also incur fees and can vary in speed depending on the method and destination.

Payments are sent electronically as cleared funds and usually received in 1 to 3 business days.

Currency cut-off times apply.³

Receipt of payments is subject to domestic regulations and individual bank practices in the recipient’s country.

Existing customers:

Your relationship team can help you to manage your foreign exchange needs and ensure you have up-to-date insights when making decisions about your currency transactions.

We offer broad coverage across time zones and markets, with more than 30 currencies available to over 200 countries.

New to CommBank?

Open a:

• Foreign Currency Account
• Business Transaction Account

Whether you’re sending or receiving International Money Transfers, you can track if your money is on its way with our payment tracker.

Sending an international money transfer using NetBank or the CommBank app

When you send money overseas using NetBank or the CommBank app, we’ll waive the transfer fee (excludes AUD to AUD).

We’ll pay any correspondent bank fees when you send an international money transfer in any currency, as long as the originating account currency is different to the payment currency (i.e. a cross-currency international money transfer) – e.g. using an AUD account to send a payment in USD. We won’t cover any fees that may be charged by the recipient’s bank.

Sending an international money transfer using CommBiz 

We'll pay any correspondent bank fees when you send a cross-currency international money transfer (Japanese Yen excluded).

If you use a Foreign Currency Account to send a same-currency international money transfers, for select currencies, you have the option to pay a separate upfront fee to cover the correspondent bank fees. We won’t cover any fees that may be charged by the payee’s bank.

Sending an international money transfer in-branch 

We’ll pay any correspondent bank fees when you send a cross-currency international money transfer – e.g. using an AUD account to send a payment in USD. 

If you use a Foreign Currency Account to send a same-currency international money transfer, for select currencies, you have the option to pay a separate upfront fee to cover the correspondent bank fees. We won’t cover any fees that may be charged by the recpient’s bank.

For more information on fees please visit fees and charges.

To ensure overseas payments are made to you swiftly and without any difficulties, you need to provide the following information:

• Bank name: Commonwealth Bank of Australia
• BIC/SWIFT Code: CTBAAU2S
• Your 6-digit BSB and 8-digit account number (card numbers are not accepted). Log on to NetBank, CommBiz or the CommBank app.  You can find this information next to the account you want money transferred into
• Account name and address (PO Boxes cannot be used)
• IBANs are not used in Australia. However, payers in certain countries may require you to provide one. In that case, your BSB and account number should be combined. Do not include any spaces or hyphens. For example:
  • 06200011111111
  • (BSB) (Account no.)
    
    

The daily limit for sending international money transfers generally depends on how you make the payment.

If you're using NetBank or the CommBank app, you can usually send up to $50,000 AUD per day. Some businesses may be eligible to increase this limit to $100,000 AUD, depending on their profile and approval.

For smaller transfers under $5,000 AUD, it's best to use digital channels rather than visiting a branch. You can check or change your limit in your app settings or by contacting us.

To send money overseas, you’ll need some key details about the person or business receiving the funds. This includes their full name, address (PO boxes cannot be used) contact number or email, bank name and account number. You may also need international banking codes like a SWIFT/BIC code, IBAN, or routing number, depending on the destination country.

You’ll also need to specify the currency, amount, and whether you want to cover any fees. Transfers can be made through NetBank, the CommBank app, CommBiz or in branch, and the required information may vary slightly depending on the method you choose.