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Sending money overseas

Sending money overseas

Whether you need to do a money transfer home, pay for a property abroad, or add a little extra padding to the bank account of your child working overseas, an International Money Transfer (IMT) is a good way to send money across the globe quickly and securely, keeping the season of goodwill stress and hassle free.

Find out what you need to know to send money overseas.

What exchange rate am I getting?

In order to send money overseas it will need to be converted into the foreign currency of where it is being sent. The easiest way to check if you’re happy with the foreign currency rate you will get, is to determine how much you want to send in the overseas currency, and work out how much it will cost you in Australian dollars. You can do this using our foreign exchange calculator (be sure to select International Money Transfer). As a CommBank customer you can transfer securely to 200 countries, using over 30 currencies. 

Paying for your transfer

Most companies will charge a transaction fee for the transfer and it tends to be cheaper if you transfer money online rather than in person. The CommBank fee for doing an IMT online in NetBank or the CommBank app is $22, compared to a $30 fee if you complete your transfer in-branch.

Something to bear in mind is the possibility of your recipient’s bank also charging fees – this will often be deducted from the money you're sending. Also, if you make changes to, or cancel your transfer you could attract additional fees.

There may be a limit

With some companies there may be a minimum or maximum limit to the amount of money you can send. Our minimum amount through NetBank or the CommBank mobile app is $20 and the maximum is $5,000. If you need to increase this limit you can call us on 13 2221 or drop in to any branch.

You can do your transfer online

If you’re a CommBank customer you can do your IMT online in NetBank or on your phone through the CommBank app. It’s safe and secure because you’re sending money through the international banking system. Also, the majority of payments only take 24 hours to reach your recipients account. Here’s how to do it in three easy steps:

Step 1: Have the following information handy:

  • Recipient's name
  • Account name
  • Home address
  • Recipient's International Bank Account Number (IBAN) or bank account number
  • The SWIFT or BIC code of their bank.

This code is unique to each bank around the world. Sometimes you'll be asked for a BIC and sometimes a SWIFT – they are the same thing. Don’t worry if you don’t have it, NetBank has a Find a SWIFT/BIC feature that can help you out.

Step 2: Set your daily International transfer limit

For security reasons your default limit is $0. To increase it log on to NetBank, go to More, then select Payment limits and follow the onscreen prompts. This will only takes a few minutes.

Step 3. Send your IMT through NetBank or the CommBank mobile app

Log on to NetBank

  1. Select Transfers and BPAY, then International Money Transfer
  2. Select the country you are transferring to
  3. Enter the details of the person you are sending money to
  4. Select the account you are transferring from, the amount and currency
  5. Click Next to confirm your transfer.

Log onto the CommBank mobile app

  1. Select Pay someone
  2. If it’s a brand new recipient select Pay someone new and then the International option (Int’l)
  3. If you are sending money to an existing address book recipient, just select Int’l address book under Pay Someone
  4. Select the country you are transferring to
  5. Enter the details of the person you are sending money to
  6. Select the account you are transferring from, the amount and currency
  7. Click Next to review and confirm your transfer.

IMT’s can be completed anywhere and anytime from NetBank or through the CommBank mobile app. So, even if you ever forget to send that one but important gift, you can still send a little something with an IMT.


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. Please view our Financial Services Guide.