Foreign Exchange

FOREIGN EXCHANGE TRANSACTION
Easy and fast solutions to meet your foreign exchange needs through Internet / Mobile Banking and FX Order Watch services.

Foreign Exchange transaction to fulfill your needs related to payments in foreign currency, and value protection (hedging) towards customers’ wealth

TYPE OF SERVICE

Commonwealth Bank offers 8 choices of currencies:
  • US Dollar (USD)
  • Australian Dollar (AUD)
  • Euro (EUR)
  • Poundsterling (GBP)
  • Singapore Dollar (SGD)
  • Japanese Yen (JPY)
  • China Yuan (RMB)
  • New Zealand Dollar (NZD)

FOREIGN CURRENCY SERVICES SOLUTIONS



FX Order Overnight Watch

Facility of FX transaction ordering instruction with customer determined rate with settlement instruction automatically if instruction is executed. Customers can transact at rate according to customer's desire without any transaction time limit

Market Update
News updates on currency market conditions by the Commonwealth Bank Treasury team. Customers can receive the latest news via phone or SMS.
The information that is prepared and distributed by the Commonwealth Bank Treasury team is made based on publicly available information and comes from a trusted source. Available information and foreign exchange rates may change at any time without notice.


Available foreign currency transactions:

Today, Tomorrow, and Spot
  • Transaction done today by using the current exchange rate
  • Delivery period not more than 2 working days after the transaction date

Forward

  • Transaction done today by using the current exchange rate
  • Delivery period in the future (more than 2 working days)
Swap:
  • A transaction/contract to buy or sell foreign currency against other currency (foreign) in a pre-determined date, with agreement to buy or sell back in another pre-determined date in the future, with pre-determined price in the contract date
  • Both transactions done simultaneously with the same counterparty

Commonwealth Bank Tutorial: Foreign Exchange Internet Banking


BENEFIT

  1. Potential capital gain in short term or long term period
  2. High liquidity, since it can be traded anytime
  3. Available in various currencies which would give trading flexibility
  4. Two types of potential capital gain (either the value of the foreign currency rise or depreciate)
  5. Active market for 24 hours nonstop, 5 days a week
  6. Information Transparency
    Easily attainable foreign currency value information
  7. Low cost
    Transaction fee is taken from spread between buy and sell price

RISK

Market Risk - Volatile price movement affected by market and economic conditions, which would results in investors experiencing capital loss.

TERMS & CONDITIONS FOR MUTUAL FUND SUBSCRIPTION

  • Age between 21-75 years old or married
  • Have an active Commonwealth Bank account
  • Attaching tax ID
  • Fill in and sign Request Foreign Exchange Form, Terms and Conditions, Power of Attorney to block and debit bank account, and Fax Indemnity letter

Should you require further information, please contact Call Commbank (24 hours) in 15000-30 or (area code) 15000-30 from mobile or visit our nearest branch.

FEE & CHARGES

There is no additional fee for foreign exchange transaction only a spread between buy and sell price.

DISCLAIMER:

Foreign exchange transaction has market risk in regards to foreign exchange market movement. Customers are required to read and understand the risk related to the transaction before making any decisions on transactions.