Commonwealth Bank review

Commonwealth Bank (CommBank) is one of Australia's big four banks, offering international money transfers for account holders. Convenient but significantly pricier than specialist services. Founded in 1911 and based in Sydney, Australia, Commonwealth Bank is a high-street bank. Commonwealth Bank is authorised and regulated by APRA, ASIC, which means customer money is safeguarded separately from company funds.

On the fee side, expect $6-$22 per transfer, but the bigger cost is usually the exchange-rate markup of 3% - 5% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $100,000 per transaction. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

Delivery speed is quoted at 2-5 business days, and the service reaches 200+ countries across 50+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors Commonwealth Bank handles best.

On the plus side: australia's largest bank, easy for existing customers and wide branch network. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. Worth keeping in mind: high exchange rate markup (3-5%) and transfer fees ($6-$22). As always, run your exact amount and currency through a live comparison before sending — the provider you pick usually affects the final amount more than any single fee.