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Foreign currency account

About the Foreign Currency Account

Features and benefits

  • Choose from major global currencies
  • Convert funds when it suits you
  • Save on conversion costs
  • Hold foreign currency in Australia
  • View real-time account information and manage your account online through NetBank
  • Fee-free transfers between linked Commonwealth Bank accounts
  • Earn interest on selected currencies

Learn more

Access your account

How to access your account

Receiving payments from overseas

You’ll need to give the sender the following information:

  • BIC/SWIFT code: CTBAAU2S
  • Bank: Commonwealth Bank of Australia
  • BSB and account number
  • Account name 

You may be asked to provide details of Correspondent Banks which the Commonwealth Bank maintains accounts with.

See a list of Commonwealth Bank’s Correspondent Banks.

Note: Foreign currency accounts cannot be accessed while overseas.

How to request a statement

  • Log onto NetBank or visit any branch.
  • A specific statement will be sent if your account earns interest during the year

Currencies

Accounts are available in most freely convertible currencies, including those listed below. 

The base annual number of days for interest calculation depends on the day count convention for the foreign currency in which the account is held. Available currencies and their respective day count conventions are below.

Currency Name

Currency Code

Day count
convention

Canadian Dollar

CAD

360

Chinese Renminbi*

CNY

360

Czech Koruna*

CZK

360

Danish Kroner

DKK

360

Euro

EUR

360

Great British Pound

GBP

365

Hong Kong Dollar

HKD

365

Hungarian Forint*

HUF

360

Israeli New Shekel*

ILS

365

Japanese Yen

JPY

360

New Zealand Dollar

NZD

365

Norwegian Kroner

NOK

360

Singapore Dollar

SGD

365

South African Rand

ZAR

365

Swedish Kronor

SEK

360

Swiss Franc

CHF

360

Thailand Baht

THB

365

United Arab Emirates
Dirham*

AED

360

United States Dollar

USD

360

*These currencies are only available for Business Foreign Currency Accounts and are subject to eligibility criteria.

Fees and charges

  • Interest is paid monthly, although this depends on the currency you choose and the balance of the account. Not all currencies earn interest
  • Interest rates are updated daily and published on the CommBank website. View today's rates (PDF 38.5kb)

*In order to open a Foreign Currency Account, you must hold an eligible CommBank Australian Dollar (AUD) transaction or savings account. Fees may apply to your linked account.

Related products

International Money Transfers

Send money easily and safely to over 200 countries in over 30 currencies available in NetBank, the CommBank app or in any branch.

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Foreign cheques and drafts

Make and receive payments in foreign currency and minimise exchange risk.

Learn more

Important information
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 the Terms and Conditions issued by Commonwealth Bank of Australia for Foreign Currency Account, and consider it before making any decision about this product.  View our Financial Services Guide.