Commonwealth Bank of Australia removes international money transfer fee

Commonwealth Bank of Australia , the country’s biggest lender, said on Tuesday it was removing transaction fees for its domestic retail and business banking customers sending money outside of the country using one of its digital platforms.

Starting this month, the bank is waiving off a A$6 ($3.97) fee for international money transfers for CBA Transaction Account and Foreign Currency Account holders sending money overseas through NetBank, CommBank App or CommBiz platforms, it said in a statement.

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In February, the bank launched an extended Australian dollar clearing and settlement processing for inward international payments to nearly 24 hours every business day.