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Fees and Government Taxes

Business foreign exchange transaction charges

Description

Charge (AUD)

When charged 

Standard settlement instructions (if your settlement instructions following the transaction attached to each trade include payments to more than one beneficiary, you will be charged a fee for each beneficiary specified).

$10.00 per settlement. 

At the middle of the next month following the transaction.

Domestic Real Time Gross Settlement (RTGS) payments. 

$10.50 per settlement. 

At the beginning of the month following the transaction.

 

Other service fees

Description

Charge (AUD)

When charged

Archive retrieval     

Historical payments/settlement instructions are retained on the database for a maximum period of 6 months. Should you require retrieval of instructions or related reporting information prior to this period, a charge based on an hourly rate is applicable. 
All requests must be specific and made in writing to business foreign exchange at gmsupport@commbiz.com.au

$110.00*per hour for data retrieval time.

At the time of the retrieval.

Instruction repairs and changes.    

Transaction traces.

$25.00* per payment plus intermediary bank charges. 

At the beginning of the following month.

Amendment of beneficiary payment details (after payment is sent).

$25.00* per payment plus intermediary bank charges. 

At the beginning of the following month.

Cancellation of beneficiary payment (after payment is sent). 

$35.00* per payment plus intermediary bank charges. 

At the beginning of the following month.

Provision of a copy of the Bank’s payment message.

$10.00* per payment.

At the beginning of the following month.

Fax instruction fee (settlement of a transaction or processing of a payment where instructions are lodged by fax rather than online, unless specifically requested by business foreign exchange).

$30.00* per payment.

At the beginning of the following month.

Direct debit request rejection fees. 

$60.00* per payment.

At the beginning of the following month.

Security tokens    

The Bank will provide the first two (2) security tokens, per client, free of charge. The cost of additional security tokens will be charged to the client. 

$25.00* per token.

At the beginning of the following month.

* GST inclusive.

Some related products and services such as bank cheques may incur a separate fee. These fees will be set out in the relevant Product Disclosure Statement or terms and conditions brochures for these other products and services.

Government taxes
If you do not provide us with a Tax File Number (TFN), TFN exemption or Australian Business Number (ABN), the Bank is obliged by law to deduct withholding tax from the earnings (or interest) you have earned.

Your transactions processed through business foreign exchange may also be subject to other Government taxes or duties (if any). These may vary from State to State.

Like to know more call 13 1998

  • Important information about advice
    As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).
    View the Product Disclosure Statement for Business Foreign Exchange  (PDF 690kb) and consider it before making any decision about the product.