What are the Commonwealth Bank rates for other currencies?
The table below shows Commonwealth Bank Australian dollar (AUD) Send Money exchange rates with the percentage of margin being charged from the current market mid-rate :
Commonwealth Bank Send Money Exchange Rates Comparing CBA exchange rates
Overall these are the main points to consider when comparing CBA exchange rates:
- 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.
What is the
best Send Money conversion rate for AUD to CNY?
The best AUD to CNY exchange rate is 4.6398 from Wise. This is -0.65% compared to the mid-market rate 4.6701.
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 Chinese yuan (CNY) rates from different sources before making a conversion.
The above
Commonwealth Bank - Aussie to Yuan 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-CNY mid-rate and the possible savings of using various providers.
How do Commonwealth Bank AUD-CNY rates compare between providers?
Looking at the
full comparison table
the best AUD to CNY exchange rate is 4.6398 from Wise, -0.65% from the mid-market rate 4.6701. The next best rate is 4.6328 from Currencies Direct, -0.8% from the mid-rate. Then Western Union with 4.6234 is -1% from the mid-rate.
Among the banks the ANZ Bank rate is N/A and the ING Bank rate is 4.4239 at -5.3% compared to the mid-rate 4.6701.
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.
Compare AUD to CNY Transfer Rates