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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.

#Banks #AUD
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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 dirham2.3465 (5.83%)2.3328 (6.45%)
ARS - Argentine peso36.98 (5.57%)
BRL - Brazilian real2.5684 (9.37%)
CAD - Canadian dollar0.8502 (4.98%)0.8497 (5.04%)
CHF - Swiss franc0.6339 (6.15%)0.6336 (6.2%)
CLP - Chilean peso452.16 (7.18%)
CNY - Chinese yuan4.5439 (5.55%)4.5174 (6.17%)
CZK - Czech Republic koruna14.99 (4.94%)14.67 (7.23%)
DKK - Danish krone4.3315 (5.31%)4.3292 (5.37%)
EUR - Euro0.58 (5.28%)0.5827 (4.79%)
FJD - Fijian dollar1.408 (5.77%)1.3824 (7.73%)
GBP - British pound sterling0.5225 (0.84%)0.5249 (0.38%)
HKD - Hong Kong dollar5.011 (5.85%)5.0083 (5.9%)
HRK - Croatian kuna4.212 (7.76%)
HUF - Hungarian forint193.41 (4.99%)189.22 (7.32%)
IDR - Indonesian rupiah9032.54 (5.66%)8836.67 (8%)
ILS - Israeli New Sheqel2.2372 (6.79%)2.1886 (9.16%)
INR - Indian rupee45.78 (5.4%)
JPY - Japanese yen68.63 (7.14%)68.95 (6.64%)
KRW - South Korean won762.83 (5.16%)746.29 (7.5%)
KWD - Kuwaiti dinar0.1942 (5.72%)0.19 (8.05%)
LBP - Lebanese pound961.78 (6.2%)
LKR - Sri Lankan rupee115.38 (6.53%)112.87 (8.9%)
MUR - Mauritian rupee23.22 (6.12%)22.72 (8.45%)
MXN - Mexican peso12.2 (6.39%)
MYR - Malaysian ringgit2.6625 (6.52%)
NOK - Norwegian krone5.8409 (6.22%)5.8377 (6.28%)
NPR - Nepalese rupee67.62 (14.29%)
NZD - New Zealand dollar1.0236 (4.99%)1.0188 (5.49%)
OMR - Omani rial0.246 (5.81%)0.2407 (8.14%)
PGK - Papua New Guinean kina2.1499 (6.79%)
PHP - Philippine peso32.9 (6.05%)32.19 (8.39%)
PLN - Polish zloty2.506 (4.39%)2.4516 (6.7%)
QAR - Qatari rial2.275 (8.2%)
SAR - Saudi riyal2.396 (5.83%)2.344 (8.18%)
SBD - Solomon Islands dollar5.2068 (7.85%)5.004 (12.22%)
SEK - Swedish krona6.2992 (4.96%)6.2959 (5.02%)
SGD - Singapore dollar0.8806 (5.21%)0.8801 (5.27%)
THB - Thai baht19.44 (5.61%)19.34 (6.15%)
TOP - Tongan paanga1.3883 (13.39%)
TRY - Turkish lira3.7547 (5.99%)3.6733 (8.34%)
TWD - New Taiwan dollar19.22 (7.8%)
USD - U.S. dollar0.6389 (5.82%)0.6453 (4.77%)
VND - Vietnamese Dong14725.34 (6.07%)14367.11 (8.72%)
VUV - Vanuatu vatu73.39 (7.47%)70.53 (11.82%)
WST - Samoan tala1.6209 (10.65%)
XPF - CFP franc70.36 (3.55%)67.62 (7.75%)
ZAR - South African rand9.6662 (4.49%)9.6099 (5.1%)
Thu Oct 17, 2019 8:05 AEDT
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.

 
Foreign Transfer ProvidersReceive USD(U$)Exchange RateFee AUDTotal CostDeal Links
Commonwealth Bank (CBA) International Money Transfers
Commonwealth Bank (CBA) logo
U$6,393.16
Compare
0.63976 5.47%
WorldFirst logo
U$6,729
U$336 more
0.672900.5%
OFX (OzForex) logo
U$6,709
U$316 more
0.67090^0.8%
TorFX logo
U$6,647
U$254 more
0.664701.72%
Westpac logo
U$6,722.53
U$329 more
0.6736200.6%
ANZ Bank logo
U$6,542.2
U$149 more
0.6554183.26%
BankSA International Money Transfers
BankSA logo
U$6,512.94
U$120 more
0.652620.013.7%
Bank of Melbourne International Money Transfers
Bank of Melbourne logo
U$6,512.3
U$119 more
0.6526213.71%
Bank of Queensland logo
U$6,506.42
U$113 more
0.6526303.79%
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
U$6,499
U$106 more
0.6512153.9%
National Australia Bank (nab) logo
U$6,425.83
U$33 more
0.644224.99%
St George Bank logo
U$6,378.22
U$15 less
0.6391205.69%
 

Commonwealth Bank (CBA) logo

Commonwealth Bank (CBA): Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:6
Exchange Rate:0.6397 (5.41% from mid-rate)
To Amount (USD) U$6,393.16
Total Cost:5.47%
Time:
Rate Fetched: website - Wed Oct 16 2019 16:02:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
 

WorldFirst logo

WorldFirst: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:
Exchange Rate:0.6729 (0.5% from mid-rate)
To Amount (USD) U$6,729
Total Cost:0.5%
Difference:
U$336 USD more than using Commonwealth Bank (CBA)
Time:16:35 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

OFX (OzForex) logo

OFX (OzForex): Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.6709 (0.8% from mid-rate)
To Amount (USD) U$6,709
Total Cost:0.8%
Difference:
U$316 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: 16:35 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

TorFX logo

TorFX: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:0
Exchange Rate:0.6647 (1.72% from mid-rate)
To Amount (USD) U$6,647
Total Cost:1.72%
Difference:
U$254 USD more than using Commonwealth Bank (CBA)
Time:16:35 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 

Westpac logo

Westpac: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:20
Exchange Rate:0.6736 (0.4% from mid-rate)
To Amount (USD) U$6,722.53
Total Cost:0.6%
Difference:
U$329 USD more 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:
 

ANZ Bank logo

ANZ Bank: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:18
Exchange Rate:0.6554 (3.09% from mid-rate)
To Amount (USD) U$6,542.2
Total Cost:3.26%
Difference:
U$149 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - Wed Oct 16 2019 16:03:05 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
 

BankSA logo

BankSA: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:20.01
Exchange Rate:0.6526 (3.5% from mid-rate)
To Amount (USD) U$6,512.94
Total Cost:3.7%
Difference:
U$120 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Bank of Melbourne logo

Bank of Melbourne: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:21
Exchange Rate:0.6526 (3.5% from mid-rate)
To Amount (USD) U$6,512.3
Total Cost:3.71%
Difference:
U$119 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Bank of Queensland logo

Bank of Queensland: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:30
Exchange Rate:0.6526 (3.5% from mid-rate)
To Amount (USD) U$6,506.42
Total Cost:3.79%
Difference:
U$113 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
From Amount (AUD)A$10,000
Fee:15
Exchange Rate:0.6597 (2.45% from mid-rate)
To Amount (USD) U$6,499
Total Cost:3.9%
Difference:
U$106 USD more than using Commonwealth Bank (CBA)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

National Australia Bank (nab) logo

National Australia Bank (nab): Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:22
Exchange Rate:0.644 (4.78% from mid-rate)
To Amount (USD) U$6,425.83
Total Cost:4.99%
Difference:
U$33 USD more than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - Wed Oct 16 2019 16:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 

St George Bank logo

St George Bank: Foreign Transfer AUD→USD
From Amount (AUD)A$10,000
Fee:20
Exchange Rate:0.6391 (5.5% from mid-rate)
To Amount (USD) U$6,378.22
Total Cost:5.69%
Difference:
U$15 USD less than using Commonwealth Bank (CBA)
Time:
Rate Fetched: website - 16:35 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 10/16/2019 - See full table
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.

 
Travel Money ProvidersAmount USD(U$)Exchange RateFee AUDTotal CostDeal Links
Commonwealth Bank (CBA) Foreign Currency
Commonwealth Bank (CBA) logo
U$639.74
Compare
0.6462A$105.42%
Westpac logo
U$666.86
U$27 more
0.6736A$101.41%
Travelex Online AU logo
U$657.20
U$17 more
0.6572$0 BPay, Card 0.72%-1%2.84%
Australia Post logo
U$652.70
U$13 more
0.6527$0 BPay, Card 0.72%-1%3.5%
Travel Money Oz logo
U$649.50
U$9.76 more
0.6495A$03.98%
ANZ Bank logo
U$648.85
U$9.11 more
0.6554A$104.07%
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
U$644.44
U$4.7 more
0.6524104.72%
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
U$642.91
U$3.17 more
0.6527A$154.95%
BankSA Foreign Currency
BankSA logo
U$642.91
U$3.17 more
0.6527A$154.95%
St George Bank logo
U$635.92
U$3.82 less
0.6456A$155.98%
National Australia Bank (nab) logo
U$633.90
U$5.84 less
0.6403106.28%
 

Commonwealth Bank (CBA) logo

Commonwealth Bank (CBA): Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:0.6462 (4.46% from mid-rate)
To Amount (USD) U$639.74
Total Cost:5.42%
Time:
Rate Fetched: website - Wed Oct 16 2019 16:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
 

Westpac logo

Westpac: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:0.6736 (0.41% from mid-rate)
To Amount (USD) U$666.86
Total Cost:1.41%
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 

Travelex Online AU logo

Travelex Online AU: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.6572 (2.84% from mid-rate)
To Amount (USD) U$657.20
Total Cost:2.84%
Time:
Rate Fetched: Wed Oct 16 2019 16:30:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 

Australia Post logo

Australia Post: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.6527 (3.5% from mid-rate)
To Amount (USD) U$652.70
Total Cost:3.5%
Time:16:35 Local
Currency Services:Online order, Branch pickup, $10 fee for orders under $1000
Delivery/Collect:2-3 days
Rating:
 
: 4/5.0
Reviews:
 

Travel Money Oz logo

Travel Money Oz: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$0 AUD (0 BPay, Credit Card 1%)
Exchange Rate:0.6495 (3.98% from mid-rate)
To Amount (USD) U$649.50
Total Cost:3.98%
Time:
Rate Fetched: 16:35 Local
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
 

ANZ Bank logo

ANZ Bank: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:0.6554 (3.1% from mid-rate)
To Amount (USD) U$648.85
Total Cost:4.07%
Time:
Rate Fetched: website - Wed Oct 16 2019 16:03:05 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:10
Exchange Rate:0.6429 (4.95% from mid-rate)
To Amount (USD) U$644.44
Total Cost:4.72%
Currency Services:Branch
Delivery/Collect:-
 

Bank of Melbourne logo

Bank of Melbourne: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6527 (3.5% from mid-rate)
To Amount (USD) U$642.91
Total Cost:4.95%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

BankSA logo

BankSA: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6527 (3.5% from mid-rate)
To Amount (USD) U$642.91
Total Cost:4.95%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

St George Bank logo

St George Bank: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6456 (4.55% from mid-rate)
To Amount (USD) U$635.92
Total Cost:5.98%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

National Australia Bank (nab) logo

National Australia Bank (nab): Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:10
Exchange Rate:0.6403 (5.34% from mid-rate)
To Amount (USD) U$633.90
Total Cost:6.28%
Time:
Rate Fetched: website - 16:35 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
 
Snapshot 10/16/2019 - See full table
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.

Related Posts

 

Posted to: Banks

 

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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