Features & benefits

Manage the impact of short-term currency fluctuations

Choose whether to convert funds into Australian dollars straight away, or hold at call in Australia and exchange at a later time.

No minimum balance

Have complete flexibility to manage your accounts to suit your business needs.

Save on conversion costs

Avoid conversion fees when making and receiving payments in foreign currency without having to convert in and out of Australian dollars.

Choose from a large number of currencies

And hold your money at call in Australia to use when you need it.

Simply manage accounts

View and transact on your accounts in real-time through CommBiz, the CommBiz mobile app or NetBank, wherever you are. 

Need a foreign currency account for personal use?

Currencies

Accounts are available in most freely convertible currencies.

Interest calculation depends on the day count convention for the foreign currency in which the account is held. Available currencies and their respective day count conventions are listed here.

Currency name
Currency code
Day count convention
Canadian dollar
CAD
360
Chinese Renminbi*
CNY
360
Czech Koruna*
CZK
360
Danish Kroner
DKK
360
Euro
EUR
360
Great British Pound
GBP
365
Hong Kong Dollar
HKD
365
Hungarian Forint*
HUF
360
Israeli New Shekel*
ILS
365
Japanese Yen
JPY
360
New Zealand Dollar
NZD
365
Norwegian Kroner
NOK
360
Singapore Dollar
SGD
365
South African Rand
ZAR
365
Swedish Kronor
SEK
360
Swiss Franc
CHF
360
Thailand Baht
THB
365
United Arab Emirates Dirham*
AED
360
United States Dollar
USD
360

Rates & fees

Foreign currency account

How to apply

CommBiz

You can apply directly in CommBiz by following these steps:

  1. Go to CommBiz  > Offers & apply 
  2. Select Apply Now for a Foreign Currency Account
  3. Tell us about your business and set up your account
  4. Submit your application

Alternatively, you can speak to your Relationship Manager who can help set up your account or call 13 1998.

 

NetBank

If you have a NetBank account, you can apply for an account online directly.

 

Apply in NetBank

Not an existing CommBank customer?

Call 1800 222 398

Support

Receiving payments

To ensure you receive money sent to you, give the sender the following:

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

You may be asked to provide details of Correspondent Banks which the Commonwealth Bank maintains accounts with.

See a list of Commonwealth Bank’s Correspondent Banks

Things you should know

1A Business Foreign Currency Account must be linked to an eligible CommBank Australian Dollar (AUD) transaction or savings account. Fees may apply to the linked account.

*These currencies are only available for Business Foreign Currency Accounts and are subject to eligibility criteria.

All products mentioned on this web page are issued by the Commonwealth Bank of Australia. As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances.  View Terms and Conditions for Foreign Currency Account (PDF 201kb) and Terms and Conditions for CommBiz and consider them before making any decision about these products.  View our Financial Services Guide (PDF 56kb). If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221.