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Commonwealth Bank Exchange Rates

Commonwealth Bank Exchange Rates – comparison table and usage guide

In this article we take a look at Commonwealth Bank Exchange Rates and examine how Commonwealth bank exchange rates & international money transfer services compare to other options available to you. If you are a CBA customer and looking to send money overseas through an International Money Transfer (IMT) or get some travel money, read on to:


How does Commonwealth Bank Foreign Exchange Service Compare?

Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Commonwealth Bank - Compare Foreign Transfers

Sending AUD 10,000 to USD

OFX logo OFX
1AUD=0.7469USD
$7469.00 USD (0.9%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $7469.00 USD
Exchange Rate: 0.7469
(Inverse 1USD=AUD 1.3389)
Fees: AUD 0
Total Cost : 0.9% (from mid-rate: 0.7537)
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7469 and inclusive of the fee of AUD 0.
Rate timestamp : Mon May 21 2018 11:00:04 GMT+0000 (UTC)
Bank of Queensland logo Bank of Queensland
1AUD=0.7273USD
$7251.18 USD (3.79%)
Rate available to Bank of Queensland Online Banking customers only.
Price Details
Receive: $7251.18 USD
Exchange Rate: 0.7273
(Inverse 1USD=AUD 1.3749)
Fees: AUD 30
Total Cost : 3.79% (from mid-rate: 0.7537)
Receive USD $218 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7273 and inclusive of the fee of AUD 30.
ANZ Bank logo ANZ Bank
1AUD=0.7264USD
$7250.92 USD (3.8%)
Rate available to ANZ Online Banking customers only. Fee for transfers via ANZ Internet Banking is $18 (or $12 if the transfer is over $AUD10,000) in ANZ Foreign Exchange Centre or via ANZ Phone Banking fee is $32.
Price Details
Receive: $7250.92 USD
Exchange Rate: 0.7264
(Inverse 1USD=AUD 1.3767)
Fees: AUD 18
Total Cost : 3.8% (from mid-rate: 0.7537)
Receive USD $218 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7264 and inclusive of the fee of AUD 18.
Rate timestamp : Mon May 21 2018 11:03:05 GMT+0000 (UTC)
Bank Rates - Average
ANZ Bank logo  Commonwealth Bank logo  St George Bank logo  Westpac logo  Bank of Queensland logo  NAB logo  Bank of Melbourne logo  BankSA logo 
1AUD=0.7164USD
$7149.55 USD (5.14%)
This is the average AUD to USD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $7149.55 USD
Exchange Rate: 0.7401
(Inverse 1USD=AUD 1.3512)
Fees: AUD 15
Total Cost : 5.14% (from mid-rate: 0.7537)
Receive USD $319 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7164 and inclusive of the fee of AUD 15.
Commonwealth Bank logo Commonwealth Bank
1AUD=0.7132USD
$7127.72 USD (5.43%)
Rate available to Commonwealth Bank Online Banking customers only.
Price Details
Receive: $7127.72 USD
Exchange Rate: 0.7132
(Inverse 1USD=AUD 1.4021)
Fees: AUD 6
Total Cost : 5.43% (from mid-rate: 0.7537)
Receive USD $341 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7132 and inclusive of the fee of AUD 6 .
Rate timestamp : Mon May 21 2018 11:02:02 GMT+0000 (UTC)
NAB logo NAB
1AUD=0.714USD
$7124.29 USD (5.48%)
Rate available to National Australia Bank online banking customers only.
Price Details
Receive: $7124.29 USD
Exchange Rate: 0.7140
(Inverse 1USD=AUD 1.4006)
Fees: AUD 22
Total Cost : 5.48% (from mid-rate: 0.7537)
Receive USD $345 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.714 and inclusive of the fee of AUD 22.
Westpac logo Westpac
1AUD=0.7131USD
$7116.74 USD (5.58%)
Rate available to Westpac Online Banking customers only.
Price Details
Receive: $7116.74 USD
Exchange Rate: 0.7131
(Inverse 1USD=AUD 1.4023)
Fees: AUD 20
Total Cost : 5.58% (from mid-rate: 0.7537)
Receive USD $352 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7131 and inclusive of the fee of AUD 20.
St George Bank logo St George Bank
1AUD=0.7125USD
$7110.75 USD (5.66%)
Rate available to St George Bank Online Banking customers only.
Price Details
Receive: $7110.75 USD
Exchange Rate: 0.7125
(Inverse 1USD=AUD 1.4035)
Fees: AUD 20
Total Cost : 5.66% (from mid-rate: 0.7537)
Receive USD $358 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7125 and inclusive of the fee of AUD 20.
Bank of Melbourne logo Bank of Melbourne
1AUD=0.7122USD
$7107.04 USD (5.7%)
Rate available to Bank of Melbourne Online Banking customers only.
 
Price Details
Receive: $7107.04 USD
Exchange Rate: 0.7122
(Inverse 1USD=AUD 1.4041)
Fees: AUD 21
Total Cost : 5.7% (from mid-rate: 0.7537)
Receive USD $362 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7122 and inclusive of the fee of AUD 21.
BankSA logo BankSA
1AUD=0.7122USD
$7107.75 USD (5.7%)
Rate available to BankSA Online Banking customers only.
 
Price Details
Receive: $7107.75 USD
Exchange Rate: 0.7122
(Inverse 1USD=AUD 1.4041)
Fees: AUD 20.01
Total Cost : 5.7% (from mid-rate: 0.7537)
Receive USD $361 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate AUD/USD=0.7122 and inclusive of the fee of AUD 20.01.
Sending $AUD 10K with CBA vs FX Providers
 

Commonwealth Bank Travel Money Exchange Rates Compared

Buying USD Cash with AUD 2,000

Travelex Online logo Travelex Online
1AUD=0.7321USD
$1464.20 USD (2.84%)
Click here to order Travel Money and the Pre-paid Cash Passport with $0 commission and great exchange rates only available online. Home delivery or pickup your cash at your local Travelex store, Post Office, HSBC branch or conveniently at the airport on departure day.
* Orders paid for via BPAY incur no additional fees. Card (debit or credit) will incur a card surcharge; MasterCard (debit) 0.77%, MasterCard (credit) 0.94%, Visa (debit) 0.72% and Visa (credit) 1%. In addition, for Credit Card purchases, your card issuer may charge a separate cash advance fee. For Australia post collection and home delivery orders under $AUD1,000 a $10 collection fee applies.
Price Details
Receive: $1464.20 USD
Exchange Rate: 0.7321
(Inverse 1USD=AUD 1.3659)
Fees: 0
Total Cost : 2.84% (from mid-rate: 0.7535)
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7321 and inclusive of the fee of 0.
Rate timestamp : Mon May 21 2018 11:30:03 GMT+0000 (UTC)
ANZ Bank logo ANZ Bank
1AUD=0.7264USD
$1438.27 USD (4.56%)
Foreign currency cash is charged at 1% of the AUD equivalent value for each currency purchased, with a minimum charge of AUD 8 per currency.
Price Details
Receive: $1438.27 USD
Exchange Rate: 0.7264
(Inverse 1USD=AUD 1.3767)
Fees: AUD 20 (1%)
Total Cost : 4.56% (from mid-rate: 0.7535)
Receive USD $26 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7264 and inclusive of the fee of AUD 20 (1%).
Rate timestamp : Mon May 21 2018 11:03:05 GMT+0000 (UTC)
NAB logo NAB
1AUD=0.7164USD
$1425.64 USD (5.4%)
The NAB in-branch travel money service is provided by Travelex.
Price Details
Receive: $1425.64 USD
Exchange Rate: 0.7164
(Inverse 1USD=AUD 1.3959)
Fees: AUD 10
Total Cost : 5.4% (from mid-rate: 0.7535)
Receive USD $39 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7164 and inclusive of the fee of AUD 10.
Commonwealth Bank logo Commonwealth Bank
1AUD=0.7202USD
$1426.00 USD (5.37%)
Price Details
Receive: $1426.00 USD
Exchange Rate: 0.7202
(Inverse 1USD=AUD 1.3885)
Fees: AUD 20 (1%)
Total Cost : 5.37% (from mid-rate: 0.7535)
Receive USD $38 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7202 and inclusive of the fee of AUD 20 (1%).
Rate timestamp : Mon May 21 2018 11:02:02 GMT+0000 (UTC)
Westpac logo Westpac
1AUD=0.7201USD
$1425.80 USD (5.39%)
Price Details
Receive: $1425.80 USD
Exchange Rate: 0.7201
(Inverse 1USD=AUD 1.3887)
Fees: AUD 20 (1%)
Total Cost : 5.39% (from mid-rate: 0.7535)
Receive USD $38 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7201 and inclusive of the fee of AUD 20 (1%).
St George Bank logo St George Bank
1AUD=0.7195USD
$1424.61 USD (5.47%)
Price Details
Receive: $1424.61 USD
Exchange Rate: 0.7195
(Inverse 1USD=AUD 1.3899)
Fees: AUD 20 (1%)
Total Cost : 5.47% (from mid-rate: 0.7535)
Receive USD $40 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7195 and inclusive of the fee of AUD 20 (1%).
Bank of Melbourne logo Bank of Melbourne
1AUD=0.7121USD
$1409.96 USD (6.44%)
Please check with the BOM in-branch travel money service for their latest rates.
 
Price Details
Receive: $1409.96 USD
Exchange Rate: 0.7121
(Inverse 1USD=AUD 1.4043)
Fees: AUD 20 (1%)
Total Cost : 6.44% (from mid-rate: 0.7535)
Receive USD $54 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7121 and inclusive of the fee of AUD 20 (1%).
BankSA logo BankSA
1AUD=0.7121USD
$1409.96 USD (6.44%)
 
Price Details
Receive: $1409.96 USD
Exchange Rate: 0.7121
(Inverse 1USD=AUD 1.4043)
Fees: AUD 20 (1%)
Total Cost : 6.44% (from mid-rate: 0.7535)
Receive USD $54 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7121 and inclusive of the fee of AUD 20 (1%).
Bank Rates - Average
ANZ Bank logo  Commonwealth Bank logo  St George Bank logo  Westpac logo  NAB logo  Bank of Melbourne logo  BankSA logo 
1AUD=0.7181USD
$1422.89 USD (5.58%)
This is the average AUD to USD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: $1422.89 USD
Exchange Rate: 0.7193
(Inverse 1USD=AUD 1.3902)
Fees: AUD 10
Total Cost : 5.58% (from mid-rate: 0.7535)
Receive USD $41 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate AUD/USD=0.7181 and inclusive of the fee of AUD 10.
Changing $AUD 2K with CBA vs Ordering Online
 

The live tables above will give you an indication of how Commonwealth Bank exchange rates compare to an alternative FX provider. At the time of writing (16/04/18), the exchange rate margin that CBA was showing for Foreign Transfers was 5.26%. The margin indicates the amount above the mid-rate (i.e. the rate at which the banks interchange with each other). The cheapest alternative for Foreign Transfers (OFX) at the time of writing was showing a margin of 1.52%, meaning if you had changed $10,000 for EUR with OFX, you would have received EUR236 more than if you had made the exchange with CBA.

So, what about the other Commonwealth bank exchange rates services? Are they so much better that it makes the higher cost of transfer worth while? The key benefit that CBA offers to existing customers, is the knowledge that you are transferring with a familiar brand. They already have all your details so there will be no need to complete any additional forms or undergo any further customer verification or security checks. With that in mind, if you are making a one-off international money transfer, where the amount to be exchanged is sufficiently low for the difference in cost to be acceptable to you, then going with Commonwealth bank exchange rates services could be the way to go for you.

If, however, you will be making regular international money transfers, then securing the lowest exchange rate, will be more critical. The FX specialists that we list on our site are registered and regulated organisations with a strong history of servicing the Foreign transfer and Travel money market.

The Main Points:

  • CBA provides extensive foreign exchange services, FX Specialists provide more additional services and generally speaking a higher level of expertise;
  • CBA products are available both in-branch and online via their online banking platform NetBank. FX Specialists for foreign transfers are on-line but you can speak to them on the phone, and in some cases you will have an account manager;
  • Commonwealth Bank exchange rates for foreign transfers are generally poor compared to using an FX specialist.
  • Commonwealth Bank exchange rates for travel money are comparable to those of the other Australian banks but you will, more likely than not, get less for your dollar than if you ordered your foreign currency and travel money online through providers such as Travelex.
  • Average to poor exchange rates need to be weighed up against convenience of using a familiar internet banking platform.

Commbank Exchange Rates Explained – Foreign Transfers, Holiday Money & Travel Cards

If you already bank with CBA, you’ve probably already taken a look at the currency related products and services they have to offer such as – Travel Money (cash), Travel Cards, and International Money Transfers (IMT).  Below we explain these different options to help you choose which particular product/service would best suit your needs. Firstly, it’s important to understand that the exchange rate will depend on a few factors, namely:

  • The currency you need
  • Transaction type – whether you wish to buy or sell the currency
  • The product you’re after – Travel Money, a Travel Card or International money transfer

Below is an example of a Commonwealth Bank exchange rate table.

CBA FX screenshot
Example Commonwealth Bank Exchange Rates Table (8:19am (Australian EST) on 15/12/2017)

Compare Commonwealth Bank exchange rates with other FX specialists

Finally, it’s worth shopping around for the best exchange rate especially if you are travelling for an extended period or exchanging over AUD1000.  There are a multitude of specialist FX organisations that often offer significant savings on your currency exchange.

Related Posts

Categories: Reviews Tags: ,

21 Reviews for “Commonwealth Bank Exchange Rates”

  1. barry says:

    Absolutely disgraceful bank, the worst of a very bad bunch of thieves.

    Rating: 1
  2. Grumpy girl NZ says:

    I love the way that Com bank screws everything and everyone associated with it. The passive aggressive phone tress – the surprise shockers, the intrusive Netbank bullshit.

    I’m trying to relocate back to NZ – I transferred $500 + $22 AUD up front fee from Com bank to my NZ bank account. I got $500.32 in my NZ bank account. WTF com bank? So the $22 was a fee, and the intra bank flat fee from ANZ – for the foreign exchange was $30 fee that was taken out of the inital AUD $500, so I was moving $470 – and the $500.32 was the result. NZ bank didn’t charge anything or created any dramas it was just a deposit.

    Com bank like to think they are “customer service” orientated. They give you stupid millennials that have no customer service skills and a computer screen as their banking service. They are the worst bank I’ve ever had the misfortune of dealing with. Go anywhere but Com bank.

    Rating: 1
  3. Carlos says:

    Exchange rates from the CBA is what its call highway robbery !!
    It is disgraceful an appealing that the CBA can get away with those exchange rates !!
    I will exit this institution as soon as I get back from my holiday trip to Europe in June.

  4. Maz says:

    CBA state their exchange rate on website is a “guide only” but it’s way off the mark and is false advertising. Disgraceful.

    Rating: 1
    1. BER Team says:

      Hi we have now setup a BER page where customers of Banks and Financial institution can report accuracy of exchange rates

  5. FB says:

    CBA Is no worse than all the other retail banks who are equally woeful on margin. Considering there is no cash involved for travel cards for example, 6%+ on all of them is dreadful. Oz Forex (Macquarie) @ 3% kicks their backside and best of all the rates are intra-day, on-demand. Been watching CAD for last 10 days off the Xmas bottom and consistently getting up to 3 big figures better with Oz over the retails e.g. 0.936251 in the last hour versus 0.9074, that’s $30 per $1000 and its better off in your pocket!

  6. Mike Watson says:

    Very Unhappy. The focus is as usual on profit, do it yourself and pay a transfer fee as well as enjoying a poor exchange rate.
    Transferring money to NZ – NZ$1200 cost me AUD $1212.86 at a rate of 0.9894 + AUD $22.00 transfer fee. The Ausforex rate was 1.0384. That’s who I will be using in future.
    Not sure how this rating system works? is the first button good or bad?

  7. wayne says:

    Terrible xchange rates and constantly hit with exorbitant fees when using any of their products/cards overseas

    Rating: 1
  8. drew says:

    CBA have the best Vietnamese Dong VND rates of all the banks, I know cos I have a internet cafe business in Hanoi’s old quarter, so changing cash and sending money back and forth very often.

    Rating: 5
  9. Stuart says:

    Concerned that the CBA doesn’t offer good customers better rates as their exchange rate is lower and they hit with commission as well double dipping.

    Rating: 2
  10. Jim says:

    Given the convenience on online banking, CBA is okay if transferring small amounts overseas as a lot of FX’s won’t do small transfers.

  11. Thomas James says:

    This bank just doesn’t care anymore about its reputation – all it is after is profit – I say if you belong to this bank – close your account today!!!!!!

    Rating: 1
  12. scott says:

    some of the worst exchange rates of any of the available options.

  13. Mischa says:

    I used to transfer money to ukraine through this function because of the convenience but no longer. I cop the 7% fee plus 50.00 commission from other transfer banks like Deutsche.

  14. Joe says:

    Looking at your comments I agree but Do you really think that any bank cares?

  15. Macca51 says:

    Terrible rates especially reconverting foreign currency (US dollars) back to Aust dollars. Current official exchange rate is apprx $1.03, CBA buy back at $1.0819, over 5 cents in every dollar and that is after selling at apprx $0.99. They are making about 7% if you buy from and sell back to CBA. Utterly outrageous@!!!

    Rating: 1
  16. sandee says:

    I don’t agree with the some of the below comments, well at least not for Indian Rupee. I use CBA to send money home to India and the rate is much better than the other banks…generally with a margin of just over 1% which is pretty good.

    Rating: 5
    1. TED NUGENT says:

      YEAH, TERRIBLE RATES

      Rating: 1
  17. Pffft says:

    Now an $8 service fee. On top of terrible rates.

    Rating: 1
  18. Not happy says:

    I concur. Extremely terrible rates

  19. which bank says:

    Terrible rates, nuff said

    Rating: 1

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