Sending funds to an overseas account requires an International Money Transfer (IMT), a process historically known as a telegraphic transfer. Commonwealth Bank allows you to complete these transfers digitally through NetBank or the CommBank app, providing a secure way to move money to recipients in various countries.
The process involves converting your Australian Dollars into a foreign currency based on the exchange rate applicable at the time of the transaction. Providing accurate beneficiary information is critical, as banking systems across different jurisdictions rely on specific codes to route the funds correctly to the recipient's bank.
International Transfer Information
| Category | Details |
|---|---|
| Methods | CommBank app, NetBank, or branch visit |
| Processing time | Typically 1 to 3 business days |
| Eligibility | Active CommBank customers with an everyday transaction account |
| Key requirements | Recipient's full name, address, IBAN/Account Number, and SWIFT/BIC code |
Telegraphic transfers in Commbank are online transfers abroad, to make them, a customer should:
- in the mobile app:
- sign in to the app
- switch to Pay & Transfer
- choose Pay Someone
- tap Overseas transfer and select the receiver of your payment
, or press + to transfer to someone new, then
- fill in the receiver's country
- enter the recipient’s details
- check the entered details and tap Next
- in Internet banking:
- sign in to the Internet Banking
- switch to Transfers & BPAY
- select International money transfer
- fill in the receiver's country
- enter the recipient’s details
- confirm the operation
Troubleshooting Common Issues
- MFA / Login Issues: Cause: Entering an incorrect password or failing to provide the NetCode verification prevents the transaction from processing. Fix: Use the 'Forgot password' link to reset your credentials and ensure your mobile signal is strong enough to receive verification codes. Fallback: Visit a branch with photo ID to verify your identity and restore access.
- Browser or App Errors: Cause: Outdated app software or browser cache files conflict with the secure international transfer portal. Fix: Update your application via the app store or clear your browser’s cache to initiate a fresh session. Fallback: Use an incognito browser window or a different device to complete the transfer.
- Locked Account or Access Issues: Cause: The system has flagged unusual activity or multiple failed attempts to initiate a transfer, placing a security hold on your profile. Fix: Check your banking inbox for security alerts that allow you to acknowledge the activity yourself. Fallback: Contact CommBank support directly so a representative can manually review and unlock your account.
Pro-Tip: Save your recipient's details in your NetBank address book after the first successful transfer. This eliminates the need to re-enter complex SWIFT/BIC codes for future payments, reducing the risk of typing errors and speeding up your subsequent transfers.
Frequently Asked Questions
Why did my international transfer fail to arrive?
Transfers are processed through an international banking network that requires every piece of information to align perfectly. If you entered an incorrect SWIFT/BIC code, or if the beneficiary's name is spelled differently than how it appears on their bank account, the receiving bank's system may reject the funds. The funds then need to be returned through the banking network, which can take several business days. Your practical next step is to double-check the details provided by your recipient and contact CommBank support to request a trace on the payment using your receipt number.
What determines the exchange rate I receive?
Exchange rates fluctuate throughout the day based on global market conditions. When you initiate a transfer, the system locks in a rate for a short window while you complete the transaction. This rate includes a spread—the difference between the mid-market rate and the rate the bank offers you—which covers the costs of providing the international service. If you require a specific rate, you should monitor the markets and initiate the transfer when the rate aligns with your budget. If the system experiences a delay in processing, the rate might refresh before you hit confirm; review the final confirmation screen before approving the funds.
