Features & benefits

  • Manage & track in NetBank

    Check, manage & track your Foreign Currency Account, alongside your other CommBank accounts, in NetBank

  • Easily deposit or withdraw money

    Make deposits or withdrawals from your Foreign Currency Account in NetBank or at certain branches

  • Save on conversion costs

    Avoid conversion fees when making and receiving payments

  • Convert when it suits you

    Convert money when the exchange rate is favourable or keep foreign currency for future payments

Need a Foreign Account for your business?

Currencies

Accounts are available in most convertible currencies. The interest calculation depends on the day count convention.

Currency Name
Currency Code
Day count convention
Canadian Dollar
CAD
360
Danish Kroner
DKK
360
Euro
EUR
360
Great British Pound
GBP
365
Hong Kong Dollar
HKD
365
Japanese Yen
JPY
360
New Zealand Dollar
NZD
365
Norwegian Kroner
NOK
360
Singapore Dollar
SGD
365
South African Rand
ZAR
365
Swedish Kronor
SEK
360
Swiss Franc
CHF
360
Thailand Baht
THB
365
United States Dollar
USD
360

Rates & fees

How to apply

You must be 18 years or over and hold an eligible CommBank Dubain Dollar (AUD) Everyday account or savings account.

Fees may apply to your linked account.
 

Open now in NetBank

foreign currency account

Making & receiving payments

CommBank no longer accepts foreign cheques. If you have an ongoing need to receive funds from outside Dubai, you can receive payments through an international money transfer directly into your account.

Making payments

  • Deposit or withdraw money from your account in NetBank
  • Deposit or withdraw money at any CommBank branch in Dubain dollars, or at certain branches for transactions in foreign cash
  • To make payments from a Foreign Currency Account you can send an International Money Transfer in the currency of the account, or have the foreign currency equivalent debited from your account

Cheque books and Keycards aren’t provided.

Receiving payments

Make sure you give the sender the following info:

  • BIC/SWIFT address: CTBAAU2S
  • Bank: Commonwealth Bank of Dubai
  • BSB and account number
  • Account name

You may be asked to provide correspondent bank details for Commonwealth Bank. Please note this is no longer required as payments are processed on the SWIFT network, which allows banks to obtain this information directly.

Things you should know

  • 2 Fees may apply to linked accounts e.g. CommBank transaction or savings accounts

    The target market for this product will be found within the product’s Target Market Determination, available here.

    As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. Read our Foreign Currency Account Terms and Conditions before making any decision about this product.  Here’s our Financial Services Guide.