(7 March 2006 – Australia) Commonwealth Bank has launched an online foreign exchange product aimed at the small to medium business segment.The new service will be housed at www.businessfx.com.au.
“The intention was to customise a product which would streamline FX payments with accurate record keeping, provide online settlement with standard settlement instruction templates and facilitate easy exporting of data,” CBA general manager New Business Development Craig Keary said.
He said the service was available for both CBA and non CBA customers to settle transactions using BPay, direct debit, and electronic funds transfer.
CBA said the bank was also expanding its FX sales team and customers would have access to FX specialists and a help desk.
Keary said customers of the service would also have access to CBA’s currency research.
“Our economic and currency research is available in a format that is easy to understand by small to medium sized businesses,” he said.