What's this guide for?

Learn how to create International Money Transfers using CommBiz.

Why you'd do this

To pay people and businesses in other countries.

What you'll need

  • Create permissions
  • Account details for the new payee

 

How to make an International Money Transfer (IMT)

Step 1

  • Log on to CommBiz, go to Payables > International Money Transfer
  • Either make a transfer with Process Now or click Show Schedule to schedule a transfer up to seven days ahead. You're not able to schedule if using a dealer rate
  • You'll need to enter a description and you can enter a transaction purpose if needed. Then choose the account you're transferring from in the Debit account drop down

Step 2

  • Once you've chosen your debit account, pick the payment currency1 you'd like to use. This depends on whether your IMT is for a fixed debit amount or a fixed payment amount in another currency2
  • Click the Here link to see currency cut-off times. Your payment won't be processed after these times
  • You're not able to make cross-currency payments e.g. US Dollars to Japanese Yen
  • If you've arranged an exchange rate with your Foreign Exchange dealer, click Enter Dealer's Rate, then enter the 3-digit dealer code and click Apply dealer's rate. Otherwise, click Request rate to see the standard rate. Or, click Next
How to make an international money transfer step 1

Step 3

  • Choose an existing beneficiary from the drop-down list and click Get beneficiary details to fill in the form. Or enter details for a new one. You'll need to enter payment details in the Payment details for beneficiary box (e.g.: an invoice number). Enter information in each field
  • If you're using an intermediary bank, enter the details or click the Here link to pick from a list of available ones
  • To Pay additional overseas bank fees to cover the cost of the transfer, enter the beneficiary bank details. This option will appear, not for all banks and currencies3
  • Click Submit
How to make an international money transfer step 3

Step 4

  • Review the transfer before you submit. Click Modify to change anything
  • Tick the boxes in Notification if you want us to let you know about each stage of the transaction
  • Click Confirm to send the transfer for authorisation
How to make an international money transfer step 4

Step 5

  • The Transaction Advice screen will show. If you're a listed authoriser you'll appear under Entitled authorisers and you can click your name and the Authorise button. 
How to make an international money transfer step 5

Important information

1Choosing Debit amount will send money in Australian dollars. Choosing Payment amount will send money in the currency you choose. 

2There's no limit when making International Money Transfers from Australian Dollars to Australian Dollars. The limit for all other currency transfers is AUD$249,999.99.  

3For payments to countries in Europe, you'll need a Bank Identifier Code (BIC) or an International Bank Account Number (IBAN).

A transaction purpose is set by your service administrator and is a pre-set item you might make IMTs for e.g.: payroll, accounts receivable.

You can find the transfer pending in My Actions or My Summary from the homepage.

This guide is published solely for information purposes. As this guide has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances and if necessary seek the appropriate financial advice before acting on information in this guide. Call 13 1998 or view the CommBiz Terms and Conditions.