An International Money Transfer (IMT) is a convenient and secure way for you to receive money from an overseas sender, in AUD or foreign currency.
To receive your money, you will need to provide the sender with the following details:
- Bank name: Commonwealth Bank of Australia
- CommBank’s BIC/SWIFT Code: CTBAAU2S
- BSB number, account number, account name and address (you can log on to NetBank to view these details, or call 13 2221 at any time, or visit any branch)
Your payment may be routed through one or more intermediary bank(s) before the payment reaches your CommBank account. This could happen if the remitting bank has an arrangement with another bank in Australia or overseas. In this scenario, the intermediary bank(s) may charge processing fees that may be deducted from the payment.
As these fees are not charged by us, we are not liable for any resultant loss or shortfall. For information regarding fees that may have been charged, please ask the remitter to contact the sending bank.
You will be charged for receiving an international payment in AUD or foreign currency to your account. Other fees and charges may apply. See our Standard Fees and Charges for International Payments and Travel Funds for more information.
Generally, when a foreign currency payment is destined for an account in another currency, at the Commonwealth Bank we convert it at our carded rate at the time of processing.
If the value of the payment is more than AUD$250,000, a dealer rate will be applied.
The payment may have been processed by one or more intermediary banks before reaching CommBank; these banks may convert the payment into other currencies and/or charge processing fees. As these fees are not charged by us, we are not liable for any resultant loss or shortfall. For information regarding fees that may have been charged or currency conversions made by an intermediary bank, please ask the remitter to contact the sending bank.
We process payments Monday to Friday, excluding public/bank holidays, and cut-off times exist. Payments received after a cut-off time will be processed on the next business day.
Circumstances beyond our control, which include the requirements and practises of overseas banks and regulators, may lengthen timeframes. As these circumstances are beyond our control, we are not liable for any resultant loss or shortfall.
We may decline to process the transaction if we believe in good faith that processing the transaction may breach laws, e.g. relating to anti-money laundering or sanctions.
Payment instructions will be accepted and processed in accordance with the Electronic Banking Terms and Conditions.