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Guidance

How to transfer money overseas

How to transfer money overseas

An International Money Transfer (IMT) is a convenient and secure way to send money across the globe.

You can send money to over 200 countries in over 30 currencies using just a mobile number or using someone's bank account details, from the CommBank app and NetBank.

Follow the exchange rate 

Your IMT will be converted into the local currency, so the strength of the foreign exchange rate on the day you send your IMT will determine how much money the recipient gets.

It's really important to check this because you may need to send the recipient USD150 for example, but the exchange rate could mean you actually send more than you intended (or vice versa).

Exchange rates change quickly, so it’s good to keep your eye on them so you time your IMT right.

Use our foreign exchange calculator (tick 'Send an International Money Transfer') to work out how much it will cost you in Aussie dollars.

Check the fees

You’ll generally be charged a transaction fee for sending an IMT. It tends to be cheaper if you’re transferring money online - we charge $22 for an IMT transfer made online in NetBank or the CommBank app, compared to $30 in branch.

Did you know? Your recipient’s bank is also charging fees which will eat into the money you’re sending. And if you amend, or cancel your transfer, you may be charged additional fees.

Know your limit

There will be minimum or maximum limit to the amount of money you can send. Our minimum limit is $20 and the maximum limit is $5,000 if you’re using NetBank or the CommBank app. You can send more than $5,000 though, simply by increasing your limit at your nearest branch or by calling us 24/7 on 13 2221. Never done an IMT? You’ll need to set a daily international transfer limit first.

Get your recipient's info first

Before you can go any further, you need the following info:

  • Recipient’s name, their account name and home address
  • Recipient’s International Bank Account Number (IBAN) or bank account number
  • The SWIFT or BIC code of the recipient’s bank. Sometimes you'll be asked for a BIC and sometimes a SWIFT – they’re the same thing.

Quickguide: How to send an IMT

CommBank app: 

You can choose to send money overseas using someone's mobile number or their bank account details. We'll ask you to choose between these two before you start.

Already paid the recipient before? Log on to the app > Pay someone > Overseas transfer > Choose the recipient and follow the next steps.

Not paid the recipient before? Log on to the app > Pay someone > Tap + > Overseas transfer and follow the next steps.

NetBank:

Log on to NetBank > Transfers & BPAY > International Money Transfer

Then choose the country you’re transferring to, before adding the recipient’s details.

We’ll then ask you which account you’re transferring from and to confirm the amount and currency too. Choose Next to confirm.

Your money is transferred through the secure international banking system straight into your recipient's account. 

The advice on this website has been prepared without considering your objectives, financial situation or needs. Before acting on this advice, please consider its appropriateness to your circumstances.