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Understanding the Table:
The comparison table above helps you see the total cost of your Commonwealth Bank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
CBA, or Commonwealth Bank of Australia, is one of the largest and most well-known banks in Australia, offering a wide range of financial products and services to individuals, businesses, and institutions. The bank provides a range of personal banking services, including savings and transaction accounts, credit cards, personal loans, and mortgages. The bank also offers investment and retirement planning services, insurance, and wealth management services.
CBA 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, you might be curious as to how the exchange rates you receive from CBA compare to other FX specialist providers.
With BER, you can easily view the exchange rate margins or markups provided by CBA for a range of different currencies. The exchange rate margin is the difference between the rate at which CBA buys and sells a particular currency. For example, at the time of writing, CBA exchange rate margins range from 4% to 8% for the different currencies.
Commonwealth Bank does allow you to request a real-time FX rate request, prior to scheduling an international wire. So you can check the rate and compare to the best rates from our BER partner brokers to check for a better deal.
Overall these are the main points to consider when comparing CBA exchange rates:
The Commonwealth Bank NGN to AUD exchange rate is 0.0009. This is -9.4% compared to the latest NGN-AUD mid-market rate 0.000993.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Nigerian naira (NGN) to Australian dollar (AUD) rates from different sources before making a conversion.
The above Commonwealth Bank - Naira to Aussie 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 NGN-AUD mid-rate and the possible savings of using various providers.
Looking at the full NGN to AUD - Send Money comparison table the provider with the best NGN to AUD exchange rate is WorldRemit at 0.001, 0.7% from the latest mid-market rate 0.000993.
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.
View a full list of exchange rates by selecting your Base (from) currency:
