Commonwealth Bank - AUD Rate Margin Analysis
The average AUD rate margin offered by Commonwealth Bank is 4.4%.
This average is based on individual AUD 10K transfer rates in the currency pairs from Commonwealth Bank that we monitor.
Commonwealth Bank - Best and Worst Value Rates
The tables below show the best and worst exchange rate margins offered by Commonwealth Bank for Australian dollar (AUD 10K) transactions. Margins show the percentage difference from the mid-market rate.
CommBank AUD transfer fees and exchange rates
CommBank waives the transfer fee for eligible digital international transfers when AUD is converted to a foreign currency. A digital AUD-to-AUD international transfer costs A$30, while a branch or manual payment instruction also costs A$30.
CommBank says its advertised Retail Exchange Rate includes a margin. A fee-waived transfer can therefore still have a meaningful conversion cost, particularly for a larger amount.
For eligible cross-currency payments, CommBank absorbs correspondent-bank fees. The recipient's bank may still deduct its own charge.
CommBank Australia commonly asked questions
How long does a CommBank international transfer take?
CommBank says an international transfer usually takes one to three business days to process and generally takes around three business days to reach the recipient. Destination, currency, cut-off times and the recipient bank can extend delivery.
Can a CommBank payment be tracked?
Digital international transfers can be tracked using the payment's Unique End-to-End Transaction Reference. A formal investigation costs A$25, so check the available tracker first.
Is a fee-waived CommBank transfer free?
No. The transfer fee may be waived, but CommBank's Retail Exchange Rate includes a margin and a recipient bank may charge.
What is the Commonwealth Bank Send Money conversion rate for AUD to KRW?
The Commonwealth Bank AUD to KRW exchange rate is 988.85. This is -4.6% compared to the latest AUD-KRW mid-market rate 1,036.1.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Australian dollar (AUD) to South Korean won (KRW) rates from different sources before making a conversion.
The above Commonwealth Bank - Aussie to South Korean won comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Commonwealth Bank and other foreign exchange providers against the latest AUD-KRW mid-rate and the possible savings of using various providers.
How do Commonwealth Bank AUD-KRW rates compare between providers?
Looking at the full AUD to KRW - Send Money comparison table the provider with the best AUD to KRW exchange rate is XE at 1029.92, -0.6% from the latest mid-market rate 1,036.1.
The next best is Wise at 1027.17, -0.86% from the mid-rate.
Then Western Union at 1020.59, which is -1.5% from the mid-rate.
Among the banks the Commonwealth Bank rate is 988.85 at -4.6% and the ING Bank rate is -18.7215 at -101.8% compared to the mid-rate 1,036.1.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Commonwealth Bank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.