Help us improve our website by completing a quick survey. Start survey now

About foreign currency accounts

Features

  • Receive payments from overseas clients and pay overseas suppliers without repeatedly converting funds from/to Australian dollars
  • Convert funds at the time of your choosing, avoiding the impact of short-term currency fluctuations
  • Manage currency risk by avoiding short term currency fluctuations
  • Save on conversion costs for the same currency
  • Choose from 15 major global currencies
  • No opening, closing or account-keeping fees
  • Earn competitive interest on selected currencies
  • Manage online in CommBiz

Rates and fees

Account access

  • Make deposits or withdrawals in any CommBank branch or online through CommBiz
  • Use Telephone Banking to check account balances and review details of previous transactions
  • Cheque books and keycards not provided. To make payments by cheque, buy a bank draft and have the foreign currency equivalent debited from your account


Foreign currency term deposit

  • Invest in foreign currencies for fixed time periods
  • Interest rates determined by the current market interest rates of the currency selected
  • Interest is fixed for the term of the deposit, calculated daily and paid at maturity
  • Deposits can be made in most freely convertible currencies
  • Provides a natural hedge for exchange rate movements between import payments and export proceeds

Minimum term

Minimum Australian dollar equivalent*

30 days

AUD 75,000

15 days

AUD 100,000

7 days

AUD 250,000

1 day

AUD 1,000,000

Related products

About international bank drafts

Pay suppliers sooner with the equivalent of a local cheque.

Learn more

Foreign exchange service

We offer a comprehensive foreign exchange service and competitive exchange rates.

Learn more

Talk to us

Call 1800 222 398

(8:30am-5:00pm AEST, Mon-Fri) 

Important information

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 Product Disclosure Statements (PDSs) for Foreign Currency Account (PDF 428kb), and Foreign Currency Term Deposit (PDF 426kb) 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.

Loading…
Google+