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COMMONWEALTH BANK INTERNATIONAL CUSTOMER SERVICES - MOVING TO AUSTRALIA

Profile Page for Gold Sponsor Commonwealth Bank - Moving to Australia

Commonwealth Bank International Customer Services
http://www.commbank.com.au/movingtoaustralia

ics@cba.com.au
Telephone +61 2 9762 0920

Sponsor since:
6 June 2011

Organisation Name:
Commonwealth Bank of Australia

Online at:
http://www.commbank.com.au/movingtoaustralia

Contact:
Dean Brown
Executive Manager
International Customer Services
International and Agency Channels
Level 10, 101 George Street, Parramatta NSW 2150
P: 1800 188 888 (Freecall From Australia)
P:+61 2 9762 0912
F:+61 2 9151 8399
E: ics@cba.com.au

Talk to our International Customer Services team for free from your country of origin at a time that suits you.

Your country Toll-free number
Canada 1866 547 0817
China 00 800 3368 8866
Fiji 00 800 2526
Hong Kong 001 800 3368 8866
India 000 800 610 3122
Indonesia 001 803 0612 128
Malaysia 1800 181 018
New Zealand 0800 229 888
Philippines 1800 1612 0131
Singapore 800 6162 219
South Africa 0800 980 339
South Korea 0079 8612 1062
Taiwan 0080 1232 429
United Kingdom 0808 234 8969
USA 1800 793 4199
Vietnam 1800 1507

All other countries should call +61 2 9762 0920 (Sydney, Australia)
In Australia, call 1800 188 888
Email: ics@cba.com.au

Details:
This information has been collected from the Commonwealth Bank of Australia Website on 7 September 2010.

Keywords

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Details:

Moving to a new country can be stressful as well as exciting. But it doesn’t have to be.

Watch our video to give you tips about moving to Australia, opening a bank account and how we can help you.

To help you prepare for your new life, our International Customer Services team can assist with all your banking needs before you leave for Australia. Once you arrive, you can bank at more than 1,000 branches, over 4,000 ATMs and in excess of 3,700 agencies. You can also use NetBank, our award-winning internet banking website.

The Commonwealth Bank is one of Australia’s leading financial institutions, offering a comprehensive range of personal, business and institutional banking products and services under one roof. By choosing the bank more Australians choose, you can rest assured your money is in safe hands.

Our expertise
Find out more about the Commonwealth Bank and how our International Customer Services team can help you.

The Commonwealth Bank Group is one of Australia’s leading providers of integrated financial services, offering retail, business and institutional banking, funds management, superannuation, insurance, and investment and share broking.

We operate one of the largest financial services distribution networks in the country, with more than 1,000 branches, over 3,700 agencies and the largest number of ATMs of any bank in the country. Our credit rating is among the strongest in the Australian and international markets and our products and services have received numerous awards locally and internationally.

International Customer Services
The International Customer Services team was set up to help individuals, families, business people and international students with their banking needs before they arrive in Australia.

Our team can assist with transaction and savings accounts, credit cards and personal loans, taking the complexity out of opening accounts and transferring funds while you are overseas. Once you arrive, you only need to visit your nominated branch to access your money*.

To make things even easier, we offer assistance in a variety of languages, including English, Mandarin, Cantonese, Indonesian Bahasa, Hindi, Urdu, Fijian Hindi, Korean and Vietnamese. All our appointments can be organised at a time that suits you.

Notes
*You’ll need to supply sufficient identification at your nominated branch before accessing your funds in Australia.

Important information
As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances.

More info Awards
We are recognised in Australia and globally for our products and services. Read about our awards and successes.

The Commonwealth Bank is recognised in Australia and globally for its products and services. Our most recent successes include:

Global Finance magazine
Named ‘Best Bank in Australia’ for our commendable “operations that set the standard for our competitors and the way we attend to our customers’ needs in difficult markets”.

Named the 12th safest bank in the ‘World’s 50 Safest Banks in 2009’ list.

Money magazine Awards 2009
NetBank won the2009 Consumer Finance Award in the Banking Website of the Year category for the second consecutive year.

CANSTAR CANNEX Innovation Excellence Award 2009
NetBank won this award for its range of new and innovative features.

ATA National Awards 2008
The International Customer Services group won the 2008 ATA National Awards for call centres with less than 50 employees.

Getting started in Australia
Banking in Australia is easy. If you set up an account prior to your arrival, you should visit your nominated bank branch to be identified. Don’t forget to bring your passport as your proof of identification. Once your account is activated, you are ready to start banking.

Haven’t got a bank account? Find out how we can help you open an account, apply for a credit card, organise a loan and put you in contact with a financial planner.

When you arrive in Australia, there are a number of options to help you with your banking.

The Debit MasterCard
This card gives you access to your money wherever MasterCard is accepted. With the Complete Access option, it lets you enjoy unlimited Commonwealth Bank phone, internet and branch transactions. (Fees and charges apply.)

NetBank Saver Account
This high interest, online savings account provides 24-hour access to funds via phone or internet banking. A linked transaction account is required for this account.

Important information
As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances. If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221. Terms and Conditions issued by Commonwealth Bank of Australia for NetBank Saver and Debit MasterCard are available by calling 13 2221, from commbank.com.au or from any branch of the Bank.

Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions will be included in the Bank’s loan offer. Fees and charges are payable.

Living in Australia
Moving to a new country is an exciting and intimidating experience.

To prepare you for life in your new home, the Australian Government has published a guide called Beginning a Life in Australia, available in a variety of languages.

These real estate sites, Domain, Realestate.com.au, Property view, can help you find a house to buy or rent. Looking for a job? There are several employment sites, Seek, MyCareer, Career One, Working in Australia, that are updated with new vacancies every day. If you are coming here to further your education, find out how to make the most of studying in Australia.

To receive government assistance with medical expenses, apply for a Medicare card. If you need financial help until you find a job, you should register with CentreLink.

Accessing your money
There are five easy ways to access your bank accounts and complete transactions.

ATMs (Automatic Teller Machines)
ATMs can be used to withdraw money using an ATM card that is connected to your bank account. Your ATM card will be security-protected by a PIN (Personal Identification Number) that you will need to enter into the ATM when prompted.

EFTPOS (Electronic Funds Transfer at Point of Sale)
EFTPOS terminals can be found where goods or services are sold e.g. supermarkets or petrol stations. EFTPOS enables you to pay for these goods or services using your ATM card. There are more than 550,000 EFTPOS terminals in Australia.

Telephone banking
You can use telephone banking to access your account balance, make transactions, retrieve recent transaction information and pay bills. When you register for telephone banking, you will be provided with a password and/or an identification number.

Internet banking
Our award-winning online banking system is NetBank. When you register for internet banking, you will be provided with login details and a password. Like all your passwords and PINs, this should never be shared with anyone.

In branch
Many people still prefer face-to-face contact with bank staff, especially with more complex products like home loans. Branch staff can also assist you with transactions, applying for new products or general information. Over-the-counter transactions may incur a fee.

Have you considered?
You can set up your banking accounts before you move

Setting up your banking
Before you come to Australia, there are a number of things you can do to make your move as smooth as possible.

Six weeks before you arrive
Set up personal and/or business banking accounts
Monitor the exchange rate to determine the right time to transfer your money

Three weeks before you arrive
Ensure that you have received your account number(s)
Transfer funds into your new account(s)
Consider changing some money into Australian dollars
Find out what to do when you arrive in Australia.

Need more advice?
We can help you open an account, apply for a credit card, organise a loan and advise on financial planning before you leave for Australia.

Moving from the UK
If you live in the UK and are moving to Australia, we have a team in London that can provide financial assistance and advice.

The International Customer Services team specialises in helping UK residents relocate to Australia and Australian expatriates returning home. A dedicated Relationship Manager, with in-depth knowledge and experience in managing the needs of international customers, will be assigned to assist you.

Our specialised international banking services include:

Opening your bank account in Australia before you leave the UK and ensuring debit cards are waiting for you on your arrival

Establishing a London Transfer Account to help you move your pounds sterling (GBP) to Australia

Providing competitive commercial exchange rates on fund transfers

Offering foreign exchange services to help you make the most of your money

Delivering innovative lending solutions and mortgage products for purchasing or investing in property

Advising on UK pension transfers

Providing referrals to banking and financial planning specialists in Australia

Contact us to open an account from the UK or to speak to our UK-based consultants.

Helping you move
There are a number of things you can do to make your move to Australia smooth and easy.

First, you should consider finding a place to live (Domain, Realestate.com.au, Property view). Next is to secure a job (Seek, MyCareer, Career One), if you don’t already have one. If you are coming here to further your education, find out how to make the most of studying in Australia.

International moving companies (Anglo Pacific, NZ Van Lines, Global Movers) can pack your belongings and ship them to Australia.

It’s also a good idea to set up your banking before you move. We offer a range of solutions for all your financial needs. Contact us to find out how we can help.

Studying in Australia
As a full-time tertiary student, you need to make every cent count. Our student banking solutions are easy to use and will save you money.

We offer everyday accounts with no monthly withdrawal or account keeping fees* and a credit card** for students with no annual fee for the duration of your studies and an up to 55 days interest-free period on purchases.

To make your money last longer, we have an account that allows you to earn bonus interest and term deposits to grow your savings.

You can also use NetBank to transfer funds, check balances or pay bills, or visit us in person – we have more branches on university campuses than any bank in Australia.

Open a student account before you leave for Australia or contact us for more information.

Here’s a checklist with suggestions that may assist in making your move to Australia easier.

Studying in Australia Checklist

The following suggestions may assist in making your move to Australia easier:
(This is a guide only, individual circumstances may differ.)

6 Weeks Before You Depart

Banking
. Contact International Customer Services to organise your banking needs.
www.commbank.com.au/movingtoaustralia

. Monitor the exchange rate to consider when the best time may be to transfer your money to your new account.

Immigration
. Check that you have a valid passport and that it will still be valid for at least five years after your arrival in Australia.

Insurance
. Make enquiries with insurance companies about getting cover for your trip. This may include life, health and travel insurance.

Travel
. Organise your airline tickets.
. If a driver’s licence is required, you may need to consider organising an International Driver’s Permit.
www.austroads.com.au
. Organise your transportation to the airport.

Internet
. Consider setting up an Australian email address prior to your arrival in Australia. For example, Yahoo, Ozemail, Bigpond and Optus.

Employment
. If you are going to be looking to secure employment whilst studying in Australia, you may wish to update your resume/curriculum vitae.

House Matters
. Take the time to consider what sort of accommodation suits your needs. Temporary or permanent accommodation listings can be found at either:
www.realestate.com.au
www.domain.com.au

Taxation
. It may be beneficial to contact the Australian Taxation
Office and obtain any relevant documents that may
need to be completed before you arrive in Australia.
www.ato.gov.au

3 Weeks Before You Depart

Banking
. Ensure that you have received your account number and the SWIFT details from International Customer Services.
www.commbank.com.au/movingtoaustralia
. You may like to transfer funds to your new account.
. It might be a good idea to change some cash into Australian dollars prior to arrival in Australia.

House Matters
. Tell all relevant organisations, family and friends when you are leaving and what your new address will be in Australia.

Travel
. Contact your chosen airline and confirm luggage allowances.
. Begin packing your main suitcase.
. Confirm all airport transfer arrangements.

Documentation
. You may want to make copies of all your important documents, including:
. Passport
. Birth certificate
. Visa
. Vaccination records
. Driver’s licence and International
. Driver’s Permit
. Airline tickets and itinerary
. You may find it beneficial to obtain extra passport size photographs.

Medication
. Make sure that all your prescription medication is up to date. It may be important to check if your prescription medication can be brought into Australia
and you may need to obtain a letter from your doctor to accompany it.

1 Week Before

Travel
. Finish packing and weigh all luggage to ensure that they meet the airlines luggage allowance limit.
. Pack carry-on luggage. Consider what items can and cannot be brought into Australia.
www.smarttraveller.gov.au
. Pack all of your valuables separately from your main luggage. Be sure to include any original documentation that you do not require for travel with these items.

Upon your arrival in Australia

. Contact family and friends back home and let them know that you have arrived safely in Australia.
. Visit your nominated Commonwealth Bank of Australia branch to be identified and activate your account.
. Visit the Student Services office at your chosen University for campus information.
. Visit your State’s nearest roads authority office to obtain a driver’s licence if required.
. Explore your local area.

Business banking
Australia is one of the easiest places in the world to start a company. In some cases, it can take just two days to establish a business. (The World Bank, Doing Business 2009)

The Australian Securities and Investments Commission has information on consumer and financial services laws and regulations. Austrade and the Foreign Investment Review Board can advise you on investing in Australia.

Our International Customer Services team understands how important it is to have your business established before you arrive in Australia. We can help guide you through the entire process, from how to register your business to setting up your bank accounts even before you arrive in the country.

We offer a wide range of banking solutions that can be tailored to your requirements and have access to experts who can provide specialist advice.

Preparing your finances
Whatever your travel plans, it’s important to set up your funds properly before you leave to ensure your trip is free from financial worries.

Financing your trip
A personal loan offers a simple and straightforward way to borrow money for your holiday. We lend from $5,000 for any reasonable purpose, and loan approval is usually given within 24 hours.

Easy payment options
Ensure you have the funds to pay for goods and services as soon as you arrive by purchasing Foreign Cash and Travellers Cheques before you leave. These two products provide the security of a fair exchange for your Australian dollars and eliminate the need to buy local currency when you arrive.

Travel Money Card
Our Travel Money Card is a reloadable prepaid card that holds up to six currencies. It provides a secure and convenient way to access your money overseas and can be used wherever MasterCard is accepted.

Credit cards are another good payment option for large ticket items. Buy your overseas travel tickets with our Platinum or Gold card and receive free comprehensive travel insurance (conditions apply).

You can also use your Commonwealth Bank keycard to withdraw cash in more than 80 countries through the Maestro and Cirrus networks.

Travel funds tips
Make your money go further by buying foreign cash before your trip or using a Travel Money Card. Both options allow you to lock in favourable exchange rates and avoid conversion fees.

Travel Money Card
Our Travel Money Card is a reloadable prepaid card that holds up to six foreign currencies. It saves you money by enabling you to avoid fluctuating exchange rates and international transaction fees. There is no fee when using the card in-store, online, over the phone or at point-of-sale merchants. Transferring between currencies on the card also does not attract a fee.

Foreign cash
We offer more than 30 foreign cash currencies to ensure you have sufficient funds on hand to pay for items as soon as you arrive in a new country. One advantage of foreign cash is that your exchange rate is locked in at the time of purchase and there are no additional fees or conversions to worry about.

Order foreign cash online using ExpressFX.

Travel Money Card
Your own money in six different currencies
A Travel Money Card is a safe, convenient and simple way to access your money overseas. Purchase a Travel Money Card now or log on to manage your card.

Features and benefits
Access your own money wherever MasterCard® is accepted
Access up to six currencies using the one card
Monitor your balance online, via SMS or phone
A Travel Money Card is a reloadable prepaid card that holds foreign currency. It provides a secure and convenient way to access your money overseas.

Gain easy access to your funds in up to six currencies on the one card, choose from United States Dollars, Euros, Great British Pounds, Australian Dollars, Japanese Yen, New Zealand Dollars, Hong Kong Dollars, Canadian Dollars and Singapore Dollars

Load up to AUD25,000 (or equivalent foreign currency amount) on the card
Convert one pre-loaded currency into another

Smart card
When you make a purchase, the card will automatically use the currency of the country in which the transaction is made, if the currency is on your card. If it is not loaded on your card, the first available currency (according to the currency order on your card) will be used.

Accepted around the world
The card can be used wherever MasterCard® is accepted – ATMs, shops, restaurants, online and over-the-phone at more than 30 million locations worldwide.

Make the most of your money
You lock in the value of your foreign currency when you purchase the card so you never have to worry about exchange rates changing when you travel.

Monitor your balance anywhere, anytime
You can view the balance on your card by using the Travel Money website or by calling the Travel Money Customer Service Centre on (+61) 1300 660 700 (+61) 1300 660 700, 24 hours a day, 7 days a week.

More info Fees and charges
Card issue fee - $15
Initial load fee - Free
Purchase transaction fee - Free

Purchasing your card
You can purchase a Travel Money Card at any Commonwealth Bank branch or via NetBank (if you are registered). There are no age restrictions and you don’t even have to be a Commonwealth Bank customer. All you need to do is satisfy the customer identification check required for opening a bank account. Purchase now.

Putting money on your card
The card may be loaded using cash, direct debit from a Commonwealth Bank transaction, savings or investment account, or by cash advance from a credit card accepted by us. When you use the card, the amount of your purchase or ATM withdrawal is deducted from the loaded balance.

Reloading your card
You can reload your card at any Commonwealth Bank branch or via BPAY® wherever you are, using internet or telephone banking. Simply use BPAY biller code 113167 and the 16-digit number on the front of your Travel Money Card as the customer reference number. Funds reloaded via BPAY may take 2-3 business days to appear on your card.

Choosing currencies
You can load up to six currencies on your card. If you have more than one currency on your card, a default currency order applies. The order is United States Dollars, Euros, Great British Pounds, Australian Dollars, Japanese Yen, New Zealand Dollars, Hong Kong Dollars, Canadian Dollars and Singapore Dollars. Learn more about multiple currencies.

If you are reloading via BPAY, the reload amount will go to the first currency in the order of currencies on your card. You can change the order of the currencies on your card by logging into the Travel Money website. You can also transfer value between currencies by calling the Travel Money Customer Service Centre on (+61) 1300 660 700 (+61) 1300 660 700.

Making purchases
Simply use the card like you would a credit card. Select ‘credit’, and enter your PIN or sign the receipt. You can use the card wherever MasterCard® is accepted.

Redeeming funds
You can withdraw funds from a Commonwealth Bank ATM in Australia free of charge. You can also withdraw all remaining funds and close your card by going to your nearest Commonwealth Bank branch.

Foreign Cash
Regardless of where you are travelling, you will always need local currency. Incidental expenses like taxi fares, a cup of coffee, the newspaper or a quick meal can generally be purchased only with cash. Ensure you don’t get caught out while travelling and organise your foreign cash before you go.

And if you have any leftover foreign cash when you return to Australia, visit any Commonwealth Bank branch and we will buy it back.

Features
Buy and sell more than 30 foreign currencies, available in various denominations
No hidden charges
Available to buy online
Flexible and convenient

Have sufficient funds on hand to pay for items as soon as you arrive in a new country. This ensures you spend more time sightseeing and less time searching for ways to access your money.

Save time and money
With cash in hand, you won’t have to waste time looking for a place to buy local currency or an ATM to withdraw funds. You will also avoid ATM and cross-border fees.

Minimise risk
When you’re in a foreign country, it can be difficult to ensure you are getting a fair rate of exchange for your Australian dollars. By changing your money before you leave, you can enjoy competitive exchange rates and know exactly how much you have to spend.

Buying foreign cash
You can buy and sell foreign cash at any Commonwealth Bank branch. Alternatively, you can pre-order foreign cash online using ExpressFX and collect your order from any one of our 1,000-plus branches.

ExpressFX orders will be delivered to your nominated branch within 24 to 72 business hours from when payment is received.

Even if you are not a Commonwealth Bank customer, we can still help you buy or sell foreign cash. All you need to do is meet our identification requirements.

How to buy foreign cash using ExpressFX
1.Make your choice from more than 30 foreign currencies. Orders are accepted for values between AUD250 and AUD10,000.
2.Confirm your quote.
3.Choose your preferred branch for collection.
4.Complete your payment details. You can pay using BPAY® via NetBank, telephone banking or through your own financial institution.
Once payment is received, we will deliver your order within three working days to a Commonwealth Bank branch of your choice.
Order your foreign cash online now.

When buying foreign cash, we recommend that you purchase or place your order at least one week before you leave.

Travellers Cheques
The Commonwealth Bank offers American Express travellers cheques, which are a safe and easy way to protect your money, giving you peace of mind as you travel.

Globally recognised
Choose from five foreign currencies – United States Dollars, Euros, Great British Pounds, Canadian Dollars and Japanese Yen Available online

Secure and easily replaceable
Lost or stolen travellers cheques can be replaced with a single telephone call – usually within 24 hours, virtually anywhere in the world. They are an effective way to protect your travel funds.

Welcomed around the world
Travellers cheques are accepted at a wide variety of stores, restaurants and hotels, as well as banks, foreign exchange bureaux and American Express Travel and Foreign Exchange Service locations.

No expiry date
American Express travellers cheques never expire, so you can save unused cheques for your next trip. Just remember to sign them, record and save the serial numbers.

Lock in favourable exchange rates
Travellers cheques allow you to take advantage of favourable exchange rates, so you can maximise the value of your money.

Minimise risk
When you’re in a foreign country, it can be difficult to ensure you are getting a fair rate of exchange for your Australian dollars. By using travellers cheques, you can eliminate this worry.

How to order
You can buy travellers cheques at any Commonwealth Bank branch or online via ExpressFX.

ExpressFX orders will be delivered to your nominated branch within 24 to 72 business hours from when payment is received.

How to place your order using ExpressFX
1.Select your currency. We offer five foreign currencies, available in different denominations. Orders are accepted for values between AUD250 and AUD10,000.
2.Confirm your quote.
3.Choose your preferred branch for collection.
4.Complete your payment details. You can pay using BPAY® via NetBank, telephone banking or through your own financial institution.
We recommend that you place your order at least one week before you leave. Once payment is received, we will deliver your order within three working days to a Commonwealth Bank branch of your choice.
Order your travellers cheques online now.

International Money Transfer
One of the safest ways to send money to friends and family overseas is through an International Money Transfer. You can organise an International Money Transfer by using NetBank or visiting a Commonwealth Bank branch.

The Commonwealth Bank sends more International Money Transfers (IMTs) from Australia than any other bank*. Our IMT service is a quick and secure way to send money to an overseas bank account to over 220 countries in a variety of currencies.

Where Can I Send an IMT From?
You can send an IMT from wherever you can access NetBank, available 24 hours a day, 7 days a week. Alternatively, you can send an IMT from any Commonwealth Bank branch.

How Much Does It Cost?
An IMT sent through NetBank will cost $22. An IMT sent through a branch will cost $30.

Important Information
Overseas banks receiving the IMT may deduct their own processing fees. Please be aware that the overseas bank processing fee will be deducted from the value sent.

Other fees also apply if you need to change the details on the IMT after sending, if you wish to cancel the IMT or if you wish to follow up the IMT.

What information do you need to receive money from overseas?
To receive money into your account from an overseas sender, you will need to provide them with:
Bank: Commonwealth Bank of Australia
BIC/ SWIFT Code: CTBAAU2S
BSB / Account Number
Account Name

What information do you need to send money overseas?
To send an IMT you need:

The bank code, name and address of the overseas bank you are transferring to
The beneficiary's name, address and account number
The amount and currency you wish to send
If you are sending money to certain countries, you may also need an International Bank Account Number (IBAN). Your beneficiary will need to provide you with their IBAN.

Contact us for more information on International Money Transfers.

Important information
*Source: SWIFT SCRL, Limited Liability Cooperative Society as at July 2009.

Foreign Currency Account
A Foreign Currency Account – an at-call account denominated in a foreign currency – makes it easy to manage your foreign currency needs.

This facility can help minimise the impact of any adverse currency movements. It also simplifies the management of funds if you import or export goods, travel frequently or have overseas investments or assets. Credits such as export receipts are received into the account and debits such as import payments are paid from the account in the foreign currency.

Features
Interest is paid on full balances for designated currencies provided minimum balances are maintained. View rates (PDF 16kb).

All overseas trade transactions can be passed through the account. A conversion of the foreign currency does not occur except in the case of travellers cheques and foreign currency notes.

Cheque books are not provided for foreign currency accounts but online access through Commbiz is available. If you need to make payments by cheque, you can purchase a bank draft and have the foreign currency equivalent debited from your account.

You can access your Foreign Currency Account in any Commonwealth Bank branch or through Commbiz.

Contact us for more information about foreign currency.

Foreign cheques & drafts
There are several ways to pay for goods and services purchased overseas. Three safe and convenient options are bank cheques, bank drafts and international money transfers.

Bank cheques
A bank cheque is drawn by a bank rather than by a customer and can be purchased for cash and a small fee.

International Bank Drafts
An International Bank Draft is similar to a bank cheque but is usually drawn in a foreign currency for an overseas payment. We offer drafts in 14 currencies issued in more than 20 countries.

The difference between an International Bank Draft and a bank cheque is that a draft may be able to be cleared as if it was a local cheque and does not have to be sent back to Australia to be cleared. This means the beneficiary will receive their funds sooner.

International money transfers
You can organise an international money transfer by visiting a branch or using NetBank.

Contact us for more information on bank cheques, bank drafts and international money transfers.

Foreign exchange guide
Foreign exchange is the buying and selling of money from other countries. It enables you to pay for goods and services that originate in another country in the currency of that country.

The rate at which the money of one country is bought or sold for that of another is called the foreign exchange rate. For example, one Australian dollar might buy 80 US cents.

In Australia, we use a floating exchange rate system, meaning that the value of the Australian dollar can rise and fall from day to day, depending on the demand for our currency. An unexpected surge or slump in the value of the Australian dollar can put a hole in your pocket – or a smile on your face, depending which side of the fence you’re on.

For example, an increase in the value of the Australian dollar is good if you are planning to travel overseas, as it means you can buy more foreign money. If the dollar falls, then you may have to spend more Australian money to buy another currency.

These branches have foreign exchange booths that can help you with your foreign exchange needs.

Contact us for more information on foreign exchange or read the Frequently Asked Questions.

The Foreign Exchange Glossary provides a detailed explanation of commonly used foreign exchange terms.

Glossary
Here are some common foreign exchange terms and their definitions.

Bank code - A Bank Code is a series of numbers which is used to identify banks around the world. It is equivalent to Australia's 'BSB' code, and can be between 3 and 23 digits depending on the country of the bank and the type of code it is.

Bank draft – a cheque issued by a bank usually in a foreign currency

Bank Identifier Code (BIC) – Is one of the most common forms of bank code used to identify individual banks. It will be 8 or 11 digits long.

Beneficiary – The recipient of funds sent overseas. Beneficiaries can either be businesses or individuals.

Buy rate – the rate at which the Bank will buy foreign currency from a customer.

Cross-Rate - The exchange rate between two currencies, e.g., Yen /Euro.

Currency - The type of money that a country uses. It can be traded for other currencies on the foreign exchange market, so each currency has a value relative to another.

CVC Card Verification Code - is a three digit code on the back of a Travel Money Card, on the right of the signature strip. It is a security feature which is required for card-not-present transactions, such as over the phone or online) and when accessing the Travel Money IVR and website.

Default Currency Order - This order applies when you have multiple currencies loaded on a Travel Money Card, and means the order that transactions, fees or reloads will be applied to your card in certain situations. Please see the Travel Money Card Product Disclosure Statement for further detail.

EFT - Electronic Fund Transfer.

Exchange Rate - The price of one currency in terms of another.

Exchange Rate Risk - The potential loss that could be incurred from movement in exchange rates.

Foreign Exchange - The purchase or sale of a currency against sale or purchase of another.

Forex - An abbreviation of foreign exchange.

FX - Foreign Exchange.

International Bank Account Number (IBAN) – a series of letters and numbers that uniquely identifies a customer’s bank account. It consists of an alphabetical country code, followed by two digits, and up to thirty alphanumeric characters for the bank account number. This should be obtained from your beneficiary. Please see the FAQsfor more information and examples.

International Money Transfer (IMT) - A way of electronically transferring money to an overseas bank account account.

IVR - The automated Interactive Voice Response service for Travel Money Card account balances, transaction listing and PIN changes. It is accessible by entering your 16-digit card number, CVC and PAC.

PAC - A six digit Personal Access Code nominated when purchasing a Travel Money Card, to access the IVR service and website.

Sell rate – the rate at which the Bank will sell foreign currency to customers. This is the rate that is used when funds are being sent overseas.

SWIFT – The process the Commonwealth Bank uses for sending and receiving international funds. BICs are used by the SWIFT system for identifying banks. Refer BIC.

Online banking
There are several ways for you to make foreign transactions online.

ExpressFX
Save time and money by pre-ordering your foreign cash and travellers cheques online using ExpressFX. Your order will be delivered to your nominated Commonwealth Bank branch within 24 to 72 hours of payment.

International Money Transfers
An International Money Transfer is one of the safest ways to send money to friends and family overseas. You can organise an International Money Transfer by using NetBank.

NetBank
NetBank is our award-winning online banking facility, which you can use to make and receive payments in foreign currencies up to AUD50,000.

Read our security and support features.

Contact us for more information on online banking.

Security & support
The Commonwealth Bank is a leader in online banking security and committed to providing you with a secure banking environment.

Our security measures include:

Login security: You will be given a login ID and password to access your account

Encryption:All communication from your computer to our secure systems is encrypted to ensure the confidentiality of all data sent and received. We use 128-bit SSL encryption technology, a widely used and accepted security method within the financial services industry

Digital certificates: A digital certificate is used to verify the identity and authenticity of our websites. To view the digital certificate, double click on the padlock icon in the bottom right-hand corner of your browser window.

Automatic timeout period: After a period of inactivity we’ll automatically log you out to reduce the risk of anyone else accessing your banking details on your computer if you leave it unattended

Lockout: Your account will be locked after a pre-determined number of unsuccessful login attempts to help prevent unauthorised users trying multiple times to guess your password

Contact us for more information on security and support.

More information:
Is available on the Commonwealth Bank - Moving to Australia International Customer Services International and Agency Channels website
http://www.commbank.com.au/movingtoaustralia

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