Commonwealth Bank US dollar (USD) Transfers Compared

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.