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
Danish Kroner
DKK
360
Euro
EUR
360
Great British Pound
GBP
365
Hong Kong Dollar
HKD
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 States Dollar
USD
360
Rates & fees
- No monthly account fees2
- Potential to earn interest on select available currencies
- Free transfers between linked CommBank accounts
- Interest is usually paid monthly - depending on the currency and account balance
- Interest rates are reviewed daily – see today’s rates
- Read about fees and charges in our Standard fees and charges for International Payments and Travel Funds (PDF)
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.
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 send an International Money Transfer in the currency of the account, or 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
2 Fees may apply to linked accounts e.g. CommBank transaction or savings accounts
The target market for this product will be found within the product’s Target Market Determination, available here.
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.
