How to transfer funds to or from your International Trading Account

If you want to transfer funds to or from your International Trading Account, you’ll need to log in to your CommSec account and go to the Transfers page. There are three ways to get there:

  • Go to Portfolio, locate your international account and select "Transfer Cash"; or
  • Go to Portfolio > Accounts, then select your international account from the dropdown menu; or
  • Go to Trading > International > Transfer Funds.

Transferring funds to your account

On the Transfers page, you can request a currency conversion from Australian dollars into your desired foreign currency. This is then transferred into your International Trading Account. Here’s how to do it:

  1. Select “Deposit to International Trading Account”.
  2. Enter the amount you want to transfer (in Australian dollars) and select the currency the funds are to be exchanged into.
  3. An indicative exchange rate will be displayed with an indicative amount to be deposited to your account. Review your request, and then submit.

The funds will be withdrawn from your linked bank account and deposited into your International Trading Account. Please make sure you have sufficient funds in your linked bank account to cover the amount you have requested to transfer.


Transferring funds from your account

On the Transfers page, you can submit a request to convert a currency in your International Trading Account into Australian dollars. This is then transferred out of your International Trading Account and into your linked bank account. Here’s how to do it:

  1. Select “Withdrawal from International Trading Account”.
  2. Select the currency you want to withdraw from and enter the amount you want to withdraw (in the selected currency).
  3. An indicative exchange rate will be displayed with an indication of the withdrawal amount in Australian dollars. Review your request, and then submit.

The funds will be withdrawn from your International Trading Account and deposited into your linked bank account. When you withdraw funds, you can’t request an amount that would leave your account with a negative balance for any currencies. Also, your withdrawal request must be for the currency that you hold in your account (not the US dollar equivalent).

The exchange rate displayed is indicative only – the actual exchange rate will be determined when your transfer is processed.


How long does it take to transfer funds to or from my International Trading Account?

The cut-off time for same-day transfer requests is 11am (Sydney time). For transfers from Australian dollars to US dollars, there is an additional request cut-off time of 2pm (Sydney time). In most cases, the funds are available the same night for trading, but a transfer may take up to two business days. Transfer requests received after the cut-off time will be processed the following business day. If your funds are not yet available, check the ‘History’ section on the Transfers page before you submit a duplicate request.

For withdrawal requests, it may take 2-3 business days for the funds to be deposited in your linked bank account. Funds need to be clear and available in your international account for us to process your withdrawal.

The exchange rate is determined at the time of processing.


What is the maximum amount I can deposit or withdraw?

Deposits

Online
The maximum amount is $50,000. This limit is reset once your deposit request has been processed.
Phone
There is no maximum limit, but you need to provide proof of balance (e.g. a bank statement) when transferring amounts over $50,000.

Withdrawals

There’s no limit to the amount you can withdraw from your International Trading Account. However, there must be sufficient funds available in the relevant currency to cover your request, and there must be no negative balances in any other currencies.

For more information, please view our Funds Transfers Manual or you can contact us.

 

Disclaimer

This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

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