Best Multi Currency Accounts in Australia

Table of contents

Last updated on July 30th, 2026Affiliate Disclosure

Table of contents

A multi currency account lets you hold, send, receive and spend money in different currencies from one account. No need to open a separate account in each country.

Most give you local account details in a few major currencies, so someone overseas can pay you like a local into your AUD, USD, EUR, GBP or other balance.

Many also come with a debit card for spending abroad, and convert at or close to the mid-market rate.

I suggest running a quick comparison using the form below and filtering the results to travel or business options.

At a glance

Here are the best multi-currency accounts available in Australia:

Wise: the best all-rounder for holding money and getting paid in multiple currencies
Revolut: the best card for travel and everyday spending abroad, now a licensed Australian bank
HSBC Everyday Global: the best if you want one familiar bank account for home and abroad

If you’re unsure if you really need one, here’s a simple way to tell:

Use a multi currency account if…

You spend, hold or get paid in more than one currency
You often receive money from abroad in currencies other than AUD
You travel and want to spend on a card without your bank's FX fees
You'd rather choose when to convert currencies to AUD
You shop on overseas sites that charge in other currencies

Consider something else if…

You only use Australian dollars
You only need a one-off transfer abroad, where a dedicated transfer service is usually cheaper
You want a full bank account with a branch and cash handling
You need deposit protection on large balances, since foreign currency isn't covered by the FCS

The best multi currency accounts

There's a bit more to weigh up here than with normal money transfer apps.

On top of cost, you're looking at which currencies you can hold, whether you get local account details, and how good the card is.

I’ve factored in the above, and our comparison data to put this list below.

Holding & receiving money

9.2

Wise

remittance.multiCurrencyAccountsSupported

Currencies Supported

Exchange Rate

Visit

"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Travel & spending abroad

8.8

Revolut

remittance.multiCurrencyAccountsSupported

Currencies Supported

Exchange Rate

0.1% - 0.6%

Visit

"Revolut has 70+ million customers globally. You can hold up to 25+ currencies in the app and send money quickly in 25+ currencies to 140+ countries."

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US / for details.

Using home & abroad

5.9

HSBC

remittance.multiCurrencyAccountsSupported

Currencies Supported

Exchange Rate

3 - 5%

Visit

Best for holding and receiving money

Wise

Why Wise

Hold and convert 40+ currencies
Local account details in 9 currencies, including AUD, USD, EUR, GBP and NZD
A debit card to spend abroad and 400 AUD in ATM limits
Mid-market rate with a conversion fee from 0.63%
No monthly fee and free virtual card (physical costs 10 AUD)

Wise is the best all-rounder for holding money and getting paid across multiple currencies.

It comes with multiple local accounts which let you receive money like a local.

This means the payment will route through the local or internal network rather than using SWIFT.

This is great if you’re receiving payments from abroad.

Be it USD for work, GBP pension, rent from EU, etc. it will all come into one account with minimal fees.

Here are the local details you get:

Currency	Details you get
AUD	BSB and account number
USD	Account and routing number
EUR	IBAN
GBP	Sort code and account number
NZD	Account number
CAD	Account and institution numbers
SGD	Account number and bank code
HUF	Account number
Others	Fall back to SWIFT, slower and more expensive

Once you hold the balance in any given currency, you can convert it any time to AUD and withdraw (or hold).

There is no exchange rate markup, but instead, Wise charges a fee from 0.63% on all conversions.

If you’re loading money yourself, you can top up instantly and free with PayID or a bank transfer, and spend on the Wise card in 150+ countries.

On the downside, Wise is not a bank so your money isn’t FCS protected, but it's regulated by ASIC (AFSL 513764) and your money is held separately.

I've used Wise for years, and in my opinion it is the simplest option to start with. It simply does a lot of things very well.

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Wise details:

Currencies to hold and convert	40+
Local account details	9 currencies
Exchange rate	Mid-market rate
Conversion fee	From 0.63%
Monthly fee	A$0
Debit card	Free virtual, 10 AUD for physical
ATM withdrawals	Free up to a 400 AUD/month, then 2.69% fee
Funding	PayID and bank transfer
Regulation	ASIC-regulated (AFSL 513764), funds held in trust, not FCS-protected

Visit Wise

Best for travel and everyday spending

Revolut

Why Revolut

Hold, exchange and spend 25+ currencies
Interbank rate on weekdays (up to A$1,000/month)
Now a licensed Australian bank, so AUD is FCS-protected
Plans from free to paid, with bigger fee-free limits and travel perks
Spend in 150+ countries

I love my Revolut card and take it with me whenever I travel. So far I've had fewer issues with it abroad than my other cards.

I always have it as my main card abroad, because my physical card is a Visa which is more commonly accepted, if not, I just use it through Apple Pay, else I use my Wise card.

You get A$350 ATM withdrawal limit (slightly lower than Wise), but it scales up if you upgrade to one of the paid plans.

I personally never needed to upgrade, instead, I just combine Revolut and Wise for whenever I need to withdraw more than the limit.

But in case you’re interested, here are the prices:

Plan	Monthly fee	Fee-free FX per month	Weekend markup
Standard	A$0	A$2,000	1%
Plus	A$5.99	A$6,000	0.5%
Premium	A$11.99	A$20,000	No fee
Metal	A$28.99	Unlimited	No fee
Ultra	A$99.99	Unlimited	No fee

In terms of conversion fees, as long as you’re within your monthly allowance, and it's a weekday, most conversions will be done at the interbank rate and small fee (just like Wise).

Outside your allowance and on the weekends, the fees are a bit higher (covered in the table above).

Since 21 July 2026, Revolut is a licensed Australian bank, so eligible AUD deposits are FCS-protected up to A$250,000.

To be honest, the offering is very similar to Wise with a few nuances here and there like ATM withdrawals and available currencies.

The bigger difference is the local accounts you get, Wise offers 9 and Revolut only has a few (AUD and the rest is SWIFT).

If you compare standard Revolut and Wise, the costs are very similar (assuming no additional fees from above).

But, as soon as you upgrade to the Metal plan or above, Revolut is flat out cheaper, under any conditions.

So if you’re traveling or spending in multiple currencies often, it’s something to think about.

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Revolut (Standard) details:

Currencies to hold and spend	25+
Local account details	AUD only, others via SWIFT
Exchange rate	Interbank on weekdays, markup on weekends
Fee-free FX allowance	A$1,000/month on Standard, then 1%
Monthly fee	A$0 Standard, paid plans above
Debit card	Only delivery fee
ATM withdrawals	A$350/month or 5 withdrawals free on Standard, then a fee
Regulation	Licensed Australian bank and AUD FCS-protected

Visit Revolut

One account for home and abroad

HSBC Everyday Global

Why HSBC

Hold 10 currencies with a linked Visa debit card
No monthly fee, no minimum balance, and you open it on its own
No HSBC fees to withdraw cash or spend abroad (local ATM fees may still apply)
A licensed bank, so your AUD is protected up to A$250,000
You can open it without being HSBC customer

HSBC is the one big bank here that gives you a proper multi currency account with a card to spend from.

The difference from Wise and Revolut is that this is your everyday bank account too.

Your salary goes in, you pay your bills, you spend at home, and you hold and spend foreign currencies from the same account.

You can hold 10 currencies: AUD, USD, GBP, EUR, JPY, HKD, CNY (with restrictions), CAD, NZD and SGD.

It’s great for spending abroad as well, just limited in terms of currencies compared to Revolut and Wise.

You can convert AUD into the currency you need ahead of time, then spend or withdraw it with no HSBC fee.

If you don't hold the currency, the card just converts from your AUD at the Visa rate.

There are no HSBC ATM fees at home or abroad (local ATMs may still add fees), and no overseas transaction fees.

It sounds like a good deal and overall decent option, but the conversion costs are really high.

HSBC converts AUD to other currencies at around 2-3% above the mid-market rate, a fair bit more than Wise or Revolut on a weekday.

It also adds a margin on weekends when the FX market is closed (just like Revolut does).

HSBC is a bank, so your AUD is covered up to A$250,000.

But that only covers Australian dollars, any foreign currency you hold sits outside it, just like with Revolut.

I think it’s a good option if you already use HSBC and favour convenience over the fees.

It’s also great for withdrawing larger amounts abroad (once you go above Wise and Revolut ATM limits, the costs are almost the same).

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HSBC Everyday Global details:

Currencies to hold	10 (AUD, USD, GBP, EUR, JPY, HKD, CNY, CAD, NZD, SGD), CNY restricted
Local account details	AUD account (BSB and number), no separate local details per currency
Exchange rate	HSBC rate, around 2-3% above mid-market
Monthly fee	A$0, no minimum balance
Debit card	Free Visa debit
ATM and overseas fees	No HSBC fees, local ATM fees may apply
Cashback	2% on tap and pay under A$100 at home, up to A$50 a month, needs A$2,000 monthly deposit
Funding	PayID, bank transfer, from a linked account
Regulation	HSBC Bank Australia (AFSL 232595), protected on AUD up to A$250,000

Visit HSBC

What about the big four banks?

Banks like CommBank, Westpac, NAB or ANZ do offer foreign currency accounts, and you can open some online.

But they're a different product to the accounts above.

With the big four you open a separate account per currency, there's usually no card to spend from that balance, and they're built for holding money and sending telegraphic transfers rather than everyday spending.

Some also charge a maintenance fee and need a linked AUD account.

That's fine for a business or an investor parking one currency but not ideal if you want to hold a few currencies and tap a card while on holiday.

Multi currency accounts vs other options

A multi currency account isn't the only way to deal with foreign money.

Here's how it stacks up against the common alternatives.

Option	Good for	But…
Fee-free travel card (ING, Macquarie, Up)	Spending abroad on a card with no FX fee	You can't hold or receive foreign currency
Digital wallet (PayPal)	Quick online payments	Very expensive whenever it converts currency
Dedicated transfer service	One-off large transfers, like a property deposit	Not for holding or spending, just moving money once
Multi-currency account	Holding, receiving, and spending foreign currencies	Making large transfers or only using it for AUD holdings

If you only ever spend abroad and never hold currency, a fee-free travel card can be enough.

Once you want to hold, receive or convert, a multi currency account does more for less.

Using a multi currency account

I think a lot of people would find a multi-currency account useful but just don’t know why or how it can benefit them.

Travelling

This is the main reason to get one.

You hold the local currency and spend it on the card near the mid-market rate, instead of paying your bank's markup on every tap.

You get a small free ATM allowance, then it gets pricey, so it suits card spending more than pulling out lots of cash.

Sending money home

If you send money to family or cover bills abroad regularly, a multi currency account keeps the running cost down.

You convert at close to mid-market and send from the balance, rather than paying a markup each time.

Wise and Revolut tend to win the small regular transfers.

For the large one-off, a dedicated transfer service usually beats all of them, so it's worth a quick comparison before you send.

If you send money to Fiji, Tonga or Samoa, a multi currency account often isn't the right tool, since payout there is usually cash or mobile wallet and you can't hold those currencies most of the time.

A remittance service like Western Union or MoneyGram is usually cheaper and more available (fo you and for them).

Receiving money

This is where local account details matter most.

With local details you're paid over a local network, which is far cheaper and faster than SWIFT.

Provider	Local accounts
Wise	9 currencies
Revolut	AUD only
HSBC	AUD only

If getting paid from overseas is your main reason, Wise is the best option here since it has more local accounts.

Revolut and HSBC are better for spending than receiving.

Building up a currency over time?

If you're saving into USD or EUR for later, Wise and Revolut both let you set a rate to auto-convert at, so you can buy in when the rate looks good.

Fees and what they cost

These accounts make their money on currency conversion, not account charges, so the cost is usually a small percentage on top of the exchange (known as the markup).

Wise skip the markup and charge a clear fee instead, using the mid-market rate.

HSBC and the banks build their margin into the rate, which is much higher and usually hidden within the “receive amount”.

Transfer fees are usually low on multi-currency accounts, though it depends how you fund the transfer.

ATM fees are the ones that vary a lot by provider.

Usually there’s a small fee-free limit that you can use, beyond that you get charged additional fees which are higher than usual conversions.

Here’s how the accounts above compare in terms of raw conversion cost:

Last updated at 30/07/2026

AUD INR

Mid Market Rate $1 = ₹66.5388

Transfer Amount $1,000

Revolut

Wise

HSBC

₹66,194.29

66.2937

0.37%

Bank Transfer

$1.50

Visit

₹66,140.37

66.5202

0.03%

Bank Transfer

$5.71

Visit

AUD PHP

Mid Market Rate $1 = ₱42.7334

Transfer Amount $1,000

Revolut

Wise

HSBC

₱42,453.14

42.5169

0.51%

Bank Transfer

$1.50

Visit

₱42,418.41

42.7213

0.03%

Bank Transfer

$7.09

Visit

AUD JPY

Mid Market Rate $1 = ¥113.6722

Transfer Amount $1,000

Revolut

Wise

HSBC

¥113,151.00

113.3842

0.25%

Bank Transfer

$2.05

Visit

¥112,915.00

113.6810

-0.01%

Bank Transfer

$6.74

Visit

AUD NGN

Mid Market Rate $1 = ₦944.2611

Transfer Amount $2,000

Wise

Revolut

HSBC

₦1,921,263.58

966.6200

-2.34%

Bank Transfer

$12.39

Visit

₦1,874,736.91

938.7766

0.58%

Bank Transfer

$3.00

Visit

AUD EUR

Mid Market Rate $1 = €0.6072

Transfer Amount $5,000

Wise

Revolut

HSBC

€3,024.61

0.6071

0.01%

Bank Transfer

$18.24

Visit

€3,017.73

0.6063

0.15%

Bank Transfer

$22.50

Visit

How to open a multi currency account

Opening an account usually takes a few minutes and will need a quick ID check.

Pick the one that fits your use

Receiving and holding, everyday spending, or a familiar bank account.

If you're not sure, start with Wise for its simplicity.

Download the app and sign up

Enter your name, date of birth, address, email and phone, or sign in with Apple or Google.

Verify your ID

Photograph your passport or Australian driver licence and take a selfie to match it. This is usually automatic and takes minutes.

Add money

Fund it with PayID or a bank transfer, which are free and near instant, or use a debit card. You can also do this later, just before you transfer.

Turn on the currencies you need

Switch on the balances you want, and pick up local account details where the provider offers them. That's what lets you receive like a local.

Order a card if you want one

Add a virtual card to spend straight away, or order the physical card for chip and PIN and ATMs.

As always, we suggest running a live comparison to get the best deal on AUD today.

For multi-currency accounts, run a search and switch to the “Travel” tab. This will show you the best accounts you can use today.

A few more things

Who can open one?

You need to be 18 or over with an Australian address and ID, and approval is usually the same day.

Are they safe and regulated?

Yes, all three are regulated in Australia, just in two different ways.

Revolut and HSBC are licensed banks, so eligible AUD deposits are covered by the Financial Claims Scheme up to A$250,000.

Wise is not a bank, so instead your money is held separately in trust and kept apart from company funds, protected if they fail.

The one thing to remember is that the FCS covers Australian dollars only.

Any foreign currency you hold, even at a bank, sits outside it.

Can I have more than one?

Yes, and I would say you should.

You can open a few, try the features, and settle on the one you like.

Having more than one also increases your ATM limits, which helps if you pull out more cash abroad with less fees.

Our methodology & why trust us

We looked at the multi currency accounts an Australian can actually open and use, then narrowed it to these that do the job best.

Our picks come from three things:

Live data from our comparison engine
Hands-on testing of the apps and cards
A close look at the features that matter

For each account we weighed:

The currencies you can hold
Whether you get local account details
The card, ATM access and everyday usability
The real cost, both fees and exchange rate
How your money is protected

Every account here is regulated in Australia.

Some providers pay us a commission, others are not commercial partner at all, it's here because it's genuinely one of the best.

Learn more about how we review and test.

Sources

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Best money transfer apps in Australia

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Best money transfer companies in Australia

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Contributors

Author

Artiom Pucinskij

Financial Content Strategist

artiom.pucinskij@intent.uk

Artiom is a marketing graduate from the University of Portsmouth and has been working across personal finance and remittance industries for several years. He optimises the organic experience on MoneyTransfers.com with the content team, manages and creates unique marketing tactics, and generally supports the overall growth of the website.