Foreign Currency Account (Business)

General Lending Rates

Product Variations

Product Features

• Other Additional Information: No need to convert between Australian dollars and foreign currency every time you make or receive a payment.

• Digital Banking Additional Information: Make and receive payments in most convertible currencies through CommBiz, the CommBiz mobile app, NetBank or the CommBank app.

• Other Additional Information: Avoid short-term currency fluctuations with the flexibility to hold foreign currency and convert it whenever you like.

• Other Additional Information: No minimum balance requirements

• Other Additional Information: No monthly account keeping fees. Fees may apply to linked accounts e.g. CommBank transaction or savings accounts.

• Other Additional Information: Please check the CommBank website for current Credit Deposit Fees.

• Other Additional Information: Please check the CommBank website for current credit interest rates. The interest calculation depends on the day count convention for the foreign currency in which the account is held.

• Other Additional Information: Please check the CommBank website for current debit excess interest rates.

• Other Additional Information: Please check the CommBank website for available currencies, interest rates, and their respective day count conventions.

Product Eligibility

• Business Additional Information: Use the Business Foreign Currency Account for business purposes only

• Min Age - 18. Additional Information: In order to open an FCA you must be 18 years of age or older.

• Other Additional Information: In the case of foreign companies that carry on business in Australia, be registered with ASIC. The eligibility of other foreign companies is reviewed on a case by case basis

• Other Additional Information: Hold an eligible CommBank AUD account with the Bank.

• Other Additional Information: In the case of domestic businesses (e.g. a sole trader, partnership, company, trust etc.) have an Australian Business Number (ABN) and/or Australian Company Number (ACN)

Bank Fees and Charges

• International Money Transfers Sent (Event), Amount: 30.00. Additional Information: Issued via a branch. Fee must be paid in Australian Dollars or debited from an Australian Dollar Account.

• International Money Transfers Sent (Event), Amount: 25.00. Additional Information: Amendment to payment instruction, i.e. beneficiary, bank, address when requested by customer, or where the overseas bank is unable to process payment on original instruction. Overseas bank charges (which may vary from country to country) could apply in addition to the charges listed above. $25.00 per request plus overseas banks' costs.

• International Money Transfers Sent (Event), Amount: 25.00. Additional Information: Cancellation and request for funds to be returned. This is a request only and is dependent on the overseas bank obtaining the relevant debit authority to be able to return funds. Returned funds will be converted back to the currency of the funding account at the published Banks buys IMT rate on the day it is credited to the funding account. Overseas bank charges (Which may vary from country to country) could apply in addition to the charges listed above. $25.00 per request plus overseas banks' costs.

• International Money Transfers Sent (Event), Amount: 25.00. Additional Information: Investigation of sent International Money Transfer (trace). This is a request only and is dependent on the overseas bank obtaining the relevant debit authority to be able to return funds. Returned funds will be converted back to the currency of the funding account at the published Banks buys IMT rate on the day it is credited to the funding account. Overseas bank charges (Which may vary from country to country) could apply in addition to the charges listed above. $25.00 per investigation includes any subsequent follow up request.

• Account Keeping Fees (Periodic), Amount: 0.00. Additional Information: No account-keeping fees. A Business Foreign Currency Account must be linked to an eligible CommBank Australian Dollar (AUD) account. Fees may apply to the linked account.

• Deposits Of Foreign Currency Notes In Branch (Deposit), Amount: Not Listed.. Additional Information: 1% of transaction amount (minimum $10.00 per currency)

• Withdrawal Of Foreign Currency Notes In Branch (Withdrawal), Amount: Not Listed.. Additional Information: 1% of transaction amount (minimum $10.00 per currency)

• International Money Transfers Sent (Event), Amount: 0.00. Additional Information: Issued via Commbiz, NetBank or the CommBank app. Funds debited from a Foreign Currency Account.

• International Money Transfers Received (Event), Amount: 11.00. Additional Information: Up to $11.00 per transfer. Fee charged depends on arrangements with overseas banks. For credit of a Commonwealth Bank Foreign Currency Account.

• International Money Transfers Received (Event), Amount: 25.00. Additional Information: Up to $25.00 per transfer. Fee charged depends on arrangements with overseas banks. For credit of an AUD account at another bank.

• International Money Transfers Received (Event), Amount: 35.00. Additional Information: Up to $35.00 per transfer. Fee charged depends on arrangements with overseas banks. For credit of a Foreign Currency Account at another bank.

• Transfers To Or From Linked Commonwealth Bank Accounts (Event), Amount: 0.00. Additional Information: Free transfers between your own Commonwealth Bank linked accounts.

• International Money Transfers Sent In Gbp (Event), Amount: 17.00. Additional Information: GBP. This option is available for selected countries and currencies only. The option to pay an additional fee to cover charges by overseas banks is available for International Money Transfers sent via Branch, CommBiz or by prior arrangement with your Relationship Manager. This option is not available via Netbank and the CommBank app. The additional fee must be paid in Australian dollars.

• International Money Transfers Sent In Usd (Event), Amount: 37.00. Additional Information: USD. This option is available for selected countries and currencies only. The option to pay an additional fee to cover charges by overseas banks is available for International Money Transfers sent via Branch, CommBiz or by prior arrangement with your Relationship Manager. This option is not available via Netbank and the CommBank app. The additional fee must be paid in Australian dollars.

• International Money Transfers Sent In Nzd (Event), Amount: 17.00. Additional Information: NZD. The option to pay an additional fee to cover charges by overseas banks is available for International Money Transfers sent via Branch, CommBiz or by prior arrangement with your Relationship Manager. This option is not available via Netbank and the CommBank app. The additional fee must be paid in Australian dollars.

• International Money Transfers Sent In Euro (Event), Amount: 33.00. Additional Information: EURO. The option to pay an additional fee to cover charges by overseas banks is available for International Money Transfers sent via Branch, CommBiz or by prior arrangement with your Relationship Manager. This option is not available via Netbank and the CommBank app. The additional fee must be paid in Australian dollars.

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