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Commonwealth Bank Exchange Rates – BER Review

In this article we take a look at Commonwealth Bank and examine how CBA foreign exchange rates & international money transfer services compare to other providers available to you.

Reviews AUD Banks
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Exchange Rates 1.4
Customer Service 1.4
Ease of Use 1.9

Commonwealth Bank Exchange Rates – Are you getting a good deal?

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:


CBA Exchange Rates - Latest Rates

This table shows Commonwealth Bank exchange rates for foreign transfers and travel money. The percentages with the rates show how much margin the bank is charging compared to the market mid-rate. The table is updated hourly, for the latest comparison goto our comparison calculators for CBA Foreign Transfers and CBA Travel Money.

 
CBA , 1AUD=Foreign TransfersTravel Money
AED - UAE dirham2.4543 (5.29%)2.4401 (5.9%)
ARS - Argentine peso29.22 (2.09%)
BRL - Brazilian real2.6019 (5.98%)
CAD - Canadian dollar0.8993 (5.22%)0.8988 (5.27%)
CHF - Swiss franc0.6823 (5.26%)0.6819 (5.32%)
CLP - Chilean peso439.2 (6.98%)
CNY - Chinese yuan4.5264 (4.43%)4.5001 (5.04%)
CZK - Czech Republic koruna15.34 (5.28%)15.01 (7.59%)
DKK - Danish krone4.4517 (5.23%)4.4493 (5.28%)
EUR - Euro0.5959 (5.29%)0.5992 (4.71%)
FJD - Fijian dollar1.4349 (4.72%)1.4089 (6.65%)
GBP - British pound sterling0.5164 (5.34%)0.5191 (4.8%)
HKD - Hong Kong dollar5.244 (5.2%)5.2495 (5.09%)
HRK - Croatian kuna4.3706 (6.58%)
HUF - Hungarian forint191.1 (5.26%)186.97 (7.59%)
IDR - Indonesian rupiah9389.85 (5.82%)9186.8 (8.16%)
ILS - Israeli New Sheqel2.4061 (5.47%)2.354 (7.8%)
INR - Indian rupee47.18 (4.01%)
JPY - Japanese yen74.81 (5.2%)75.16 (4.71%)
KRW - South Korean won764.7 (5.67%)748.17 (8%)
KWD - Kuwaiti dinar0.2026 (5.63%)0.1983 (7.92%)
LBP - Lebanese pound1016.97 (4.58%)
LKR - Sri Lankan rupee117.22 (4.84%)114.68 (7.16%)
MUR - Mauritian rupee23.39 (4.96%)22.89 (7.25%)
MXN - Mexican peso12.4 (7.58%)
MYR - Malaysian ringgit2.7438 (5.91%)
NOK - Norwegian krone5.7188 (5.44%)5.7157 (5.5%)
NPR - Nepalese rupee67.62 (16.1%)
NZD - New Zealand dollar1.0191 (4.28%)1.0154 (4.66%)
OMR - Omani rial0.259 (4.56%)0.2534 (6.87%)
PGK - Papua New Guinean kina2.2541 (5.59%)
PHP - Philippine peso34.69 (5.74%)33.94 (8.07%)
PLN - Polish zloty2.5536 (5.24%)2.4984 (7.57%)
QAR - Qatari rial2.3975 (6.83%)
SAR - Saudi riyal2.5209 (4.65%)2.4664 (6.97%)
SBD - Solomon Islands dollar5.1913 (11.05%)4.9895 (15.54%)
SEK - Swedish krona6.26 (5.29%)6.2567 (5.35%)
SGD - Singapore dollar0.908 (5.3%)0.9075 (5.36%)
THB - Thai baht21.38 (5.33%)21.29 (5.78%)
TOP - Tongan paanga1.4224 (12.35%)
TRY - Turkish lira3.921 (5.02%)3.8362 (7.34%)
TWD - New Taiwan dollar20.4 (6.42%)
USD - U.S. dollar0.6688 (5.19%)0.6755 (4.15%)
VND - Vietnamese Dong15486.34 (5.84%)15110.62 (8.47%)
VUV - Vanuatu vatu75.37 (3.98%)72.44 (8.19%)
WST - Samoan tala1.6536 (11.08%)
XPF - CFP franc72.63 (3.08%)69.8 (7.26%)
ZAR - South African rand9.5551 (5.39%)9.4997 (6%)
Wed Apr 24, 2019 13:05 AEST
CBA Exchange Rates - Click Rates to Compare (% margins to midrate)
 
 

How does Commonwealth Bank Foreign Exchange Rates Compare?

The live tables below will give you an indication of how Commonwealth Bank Foreign Transfer exchange rates compare to an specialist FX provider.

Use the live foreign transfer exchange comparison table below to compare Commonwealth Bank exchange rates to the leading FX specialists. The table uses the scenario of a user wanting to send $AUD 10,000 abroad, note the margin refers to the difference to the current mid-rate. You can change the currencies and send or receive amount with our full CBA foreign transfers calculator.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾

AUD-USD Foreign Transfers

   Commonwealth Bank Commonwealth Bank (CBA) logo

Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee AUDTotal CostTransfer ServicesTransfer SpeedDeal Links
Commonwealth Bank (CBA) International Money Transfers
 
Commonwealth Bank (CBA) logo
6,725.96 USD
Compare
0.6736 5.17%Online, Branch, Bank Transfers2-3 days
 
TorFX logo
7,029 USD
303 USD
0.702900.9%Bank Transfers - Online & Phone1-2 days
 
OFX (OzForex) logo
7,036 USD
310 USD
0.70360^0.8%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
ANZ Bank logo
6,833.68 USD
108 USD
0.6846183.66%Online, Branch, Bank Transfers2-3 days
BankSA International Money Transfers
BankSA logo
6,831.3 USD
105 USD
0.684520.013.69%Online, Branch, Bank Transfers2-3 days
Bank of Melbourne International Money Transfers
Bank of Melbourne logo
6,830.63 USD
105 USD
0.6845213.7%Online, Branch, Bank Transfers2-3 days
 
Bank of Queensland logo
6,824.47 USD
99 USD
0.6845303.79%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
National Australia Bank (nab) logo Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Queensland logo Bank of Melbourne logo BankSA logo
6,782 USD
56 USD
0.6795154.38%Online, Branch, Bank Transfers2-3 days
 
National Australia Bank (nab) logo
6,778.06 USD
52 USD
0.6793224.44%Online, Branch, Bank Transfers2-3 days
 
Westpac logo
6,722.53 USD
3.43 USD
0.6736205.22%Online, Branch, Bank Transfers2-3 days
 
St George Bank logo
6,709.55 USD
16 USD
0.6723205.41%Online, Branch, Bank Transfers2-3 days
Commonwealth Bank (CBA): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:0.6730 (5.12% from mid-rate)
USD amount:6,725.96 USD
Total Cost:5.17%
Time:
Rate Fetched: website - Wed Apr 24 2019 00:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
TorFX: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:0.7029 (0.9% from mid-rate)
USD amount:7,029 USD
Total Cost:0.9%
Difference:
303 USD more than using Commonwealth Bank (CBA)
Time:0:35 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
OFX (OzForex): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.7036 (0.8% from mid-rate)
USD amount:7,036 USD
Total Cost:0.8%
Difference:
310 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: Wed Apr 24 2019 00:00:06 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
ANZ Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:18
Exchange Rate:0.6846 (3.48% from mid-rate)
USD amount:6,833.68 USD
Total Cost:3.66%
Difference:
108 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - Wed Apr 24 2019 00:03:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
BankSA: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:0.6845 (3.5% from mid-rate)
USD amount:6,831.3 USD
Total Cost:3.69%
Difference:
105 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 0:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Melbourne: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:21
Exchange Rate:0.6845 (3.5% from mid-rate)
USD amount:6,830.63 USD
Total Cost:3.7%
Difference:
105 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 0:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Queensland: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:30
Exchange Rate:0.6845 (3.5% from mid-rate)
USD amount:6,824.47 USD
Total Cost:3.79%
Difference:
99 USD more than using Commonwealth Bank (CBA)
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:0.6977 (1.64% from mid-rate)
USD amount:6,782 USD
Total Cost:4.38%
Difference:
56 USD more than using Commonwealth Bank (CBA)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
National Australia Bank (nab): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:0.6793 (4.23% from mid-rate)
USD amount:6,778.06 USD
Total Cost:4.44%
Difference:
52 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - Wed Apr 24 2019 00:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
Westpac: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6736 (5.03% from mid-rate)
USD amount:6,722.53 USD
Total Cost:5.22%
Difference:
3.43 USD less than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
St George Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6723 (5.22% from mid-rate)
USD amount:6,709.55 USD
Total Cost:5.41%
Difference:
16 USD less than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 0:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Sending $AUD 10K with CBA vs FX Providers
 

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.

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

The below live CBA Travel Money comparison table shows how much you could save on your next travel money purchase. The table uses the scenario of a user wanting to change $AUD 2,000 for Euros. Note the margins for the bank and brokers are compared to the current mid-rate. You can change the currencies and send or receive amount with our full CBA travel money calculator.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾

USD Travel Money

   Commonwealth Bank Commonwealth Bank (CBA) logo

Travel Money Providers
Ratings & Reviews
Amount USD($)Exchange RateFee AUDTotal CostCurrency ServicesDelivery/CollectDeal Links
Commonwealth Bank (CBA) Foreign Currency
 
Commonwealth Bank (CBA) logo
672.90 USD
Compare
0.6797$105.13%Branch-
 
Travelex Online AU logo
690.80 USD
18 USD
0.6908$0 BPay, Card 0.72%-1%2.61%Online order, Branch pickup, Home delivery2-3 days
 
Travel Money Oz logo
690.60 USD
18 USD
0.6906$0 BPay, Credit Card 1%2.64%Online order, Branch pickup3-5 days
 
ANZ Bank logo
677.75 USD
4.85 USD
0.6846$104.45%Branch-
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
674.23 USD
1.33 USD
0.6845$154.94%Branch-
BankSA Foreign Currency
BankSA logo
674.23 USD
1.33 USD
0.6845$154.94%Branch-
Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo National Australia Bank (nab) logo Bank of Melbourne logo BankSA logo
671.37 USD
1.53 USD
0.6796105.35%Branch-
 
St George Bank logo
668.82 USD
4.08 USD
0.679$155.71%Branch-
 
Westpac logo
666.86 USD
6.04 USD
0.6736$105.98%Branch-
 
National Australia Bank (nab) logo
664.79 USD
8.11 USD
0.6715106.28%Branch-
Commonwealth Bank (CBA): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6797 (4.17% from mid-rate)
USD amount:672.90 USD
Total Cost:5.13%
Time:
Rate Fetched: website - Wed Apr 24 2019 00:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
Travelex Online AU: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.6908 (2.61% from mid-rate)
USD amount:690.80 USD
Total Cost:2.61%
Time:
Rate Fetched: Wed Apr 24 2019 00:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
Travel Money Oz: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:0.6906 (2.64% from mid-rate)
USD amount:690.60 USD
Total Cost:2.64%
Time:
Rate Fetched: Wed Apr 24 2019 00:00:06 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
ANZ Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6846 (3.48% from mid-rate)
USD amount:677.75 USD
Total Cost:4.45%
Time:
Rate Fetched: website - Wed Apr 24 2019 00:03:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
Bank of Melbourne: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6845 (3.5% from mid-rate)
USD amount:674.23 USD
Total Cost:4.94%
Time:
Rate Fetched: website - 0:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
BankSA: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6845 (3.5% from mid-rate)
USD amount:674.23 USD
Total Cost:4.94%
Time:
Rate Fetched: website - 0:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6742 (4.95% from mid-rate)
USD amount:671.37 USD
Total Cost:5.35%
Currency Services:Branch
Delivery/Collect:-
St George Bank: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$15 AUD (Minimum fee)
Exchange Rate:0.6790 (4.27% from mid-rate)
USD amount:668.82 USD
Total Cost:5.71%
Time:
Rate Fetched: website - 0:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
Westpac: Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:$10 AUD (1%)
Exchange Rate:0.6736 (5.03% from mid-rate)
USD amount:666.86 USD
Total Cost:5.98%
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
National Australia Bank (nab): Travel Money AUD→USD
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:0.6715 (5.33% from mid-rate)
USD amount:664.79 USD
Total Cost:6.28%
Time:
Rate Fetched: website - 0:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
 
Changing $AUD 2K with CBA vs Ordering Online
 

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.

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.
 

Further Reading

 

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The Swiss franc continued its shocking run of form on Tuesday, slipping against the euro to its weakest level in 6 months.

Updated: 23 Apr, 2019

8 Percent Drop Coming Soon for Australian Dollar; RBA “Wants a Weaker Currency”

HSBC has reaffirmed its US66¢ year-end forecast for the Australian dollar, thereby signalling an upcoming 8 percent slide in the world’s fifth most traded currency.

Updated: 22 Apr, 2019

WorldFirst World Account – BER Review

WorldFirst World Account – Independent BER Review World Account: A Summary WorldFirst, a market leader in the international payments space, offers a multi-currency “World Account” that allows businesses to hold, send and receive funds in 8 major currencies (GBP, EUR, USD, AUD, CAD, JPY, SGD and NZD). With a World Account, businesses can invoice customers […]

Updated: 23 Apr, 2019

SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection

What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.

Updated: 18 Apr, 2019

Commodities Boom Will Take Australian Dollar to US$0.74

The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.

Updated: 15 Apr, 2019

  

22 Reviews for “Commonwealth Bank Exchange Rates – BER Review”

  1. Avatar Charlie Z says:

    the rate is terrible, No interested paid to CBA foreign currency account, a 1% withdraw fee is charged when taking cash from it.

    1.3
  2. Avatar barry says:

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

    1
  3. Avatar 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.

    1
  4. Avatar 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.

    1
  5. Avatar 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.

    1.3
    1. Avatar BER Team says:

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

  6. Avatar 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!

    1.7
  7. Avatar 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?

    1
  8. Avatar wayne says:

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

    1
  9. Avatar 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.

    3.2
  10. Avatar 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.

    1.5
  11. Avatar 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.

    2
  12. Avatar 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!!!!!!

    1
  13. Avatar scott says:

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

    1
  14. Avatar 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.

    1.8
  15. Avatar Joe says:

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

    1
  16. Avatar 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@!!!

    1.7
  17. Avatar 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.

    3.7
    1. Avatar TED NUGENT says:

      YEAH, TERRIBLE RATES

      2
  18. Avatar Pffft says:

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

    1.7
  19. Avatar Not happy says:

    I concur. Extremely terrible rates

    1.3
  20. Avatar which bank says:

    Terrible rates, nuff said

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Get a Better FX Deal when you Send and Spend Abroad.

 

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