Features & benefits

Manage & track in NetBank

Check, manage & track your Foreign Currency Account, alongside your other CommBank accounts, in NetBank

Easily deposit or withdraw money

Make deposits or withdrawals from your Foreign Currency Account in NetBank or at certain branches

Save on conversion costs

Avoid conversion fees when making and receiving payments

Convert when it suits you

Convert money when the exchange rate is favourable or keep foreign currency for future payments

Need a Foreign Account for your business?

Currencies

Accounts are available in most convertible currencies. The interest calculation depends on the day count convention.

Currency Name
Currency Code
Day count convention
Canadian Dollar
CAD
360
Chinese Renminbi1
CNY
360
Czech Koruna1
CZK
360
Danish Kroner
DKK
360
Euro
EUR
360
Great British Pound
GBP
365
Hong Kong Dollar
HKD
365
Hungarian Forint1
HUF
360
Israeli New Shekel1
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 Dirham1
AED
360
United States Dollar
USD
360

Rates & fees

How to apply

You must be 18 years or over and hold an eligible CommBank Australian Dollar (AUD) Everyday account or savings account.

Fees may apply to your linked account.
 

Open now in NetBank

foreign currency account

Making & receiving payments

Making payments

  • Deposit or withdraw money from your account in NetBank
  • Deposit or withdraw money at any CommBank branch in Australian dollars, or at certain branches for transactions in foreign cash
  • To make payments from a Foreign Currency Account you can either:
    • Send an International Money Transfer or buy an International Bank Draft in the currency of the account
    • Buy a bank draft and have the foreign currency equivalent debited from your account

Cheque books and Keycards aren’t provided.

Receiving payments

Make sure you give the sender the following info:

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

You may be asked to provide details of Correspondent Banks which we maintain accounts with.

Things you should know

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

2 Fees may apply to linked accounts e.g. CommBank transaction or savings accounts

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. Read our Foreign Currency Account Terms and Conditions before making any decision about this product.  Here’s our Financial Services Guide.