Business Foreign Currency Account

We no longer accept foreign cheques. You can receive payments from outside Australia directly into your account through an International Money Transfer.

Log on to NetBank or CommBiz to send an International Money Transfer (IMT) in over 30 currencies.

• Payments are sent electronically as cleared funds and usually received in 2 to 3 business days
• Currency cut-off times apply
• Receipt of payments is subject to domestic regulations and individual bank practices in the beneficiary’s country
• CommBiz gives you the ability to pay an additional fee to cover correspondent banks charges for same-currency transactions in selected currencies
• We’ll absorb the correspondent bank fees for IMTs sent in selected currencies where the debit account is in a currency that’s different from the payment currency (i.e. a cross-currency IMT). Fees charged by the beneficiary bank may still apply to the payment

You’ll need to give the sender your account details including:

• BIC/SWIFT address: CTBAAU2S
• Bank: Commonwealth Bank of Australia
• BSB and account number
• Account name

Fees and charges apply when making or receiving IMTs, or when initiating an enquiry, cancellation or amendment.

Sending an IMT 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 IMT in any currency, as long as the originating account currency is different to the payment currency (cross-currency IMT) – e.g. using an AUD account to send a payment in USD. We won’t cover any fees that may be charged by the beneficiary’s bank.

Sending an IMT using CommBiz:

• We'll pay any correspondent bank fees when you send a cross-currency IMT (Japanese Yen excluded).
• If you use a Foreign Currency Account to send a same-currency IMT, 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 beneficiary’s bank.

Sending an IMT in-branch: 

• We’ll pay any correspondent bank fees when you send a cross-currency IMT – e.g. using an AUD account to send a payment in USD. 
• If you use a Foreign Currency Account to send a same-currency IMT, 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 beneficiary’s bank.