Wise has launched an Everyday Account in Australia, combining domestic payment features with its existing multi-currency services.
The account, available to all of Wise’s Australian customers, adds local banking features to a product range that has centred on international money transfers. Users can receive payments through PayID with a mobile number or email address, pay bills via BPAY, and use a local BSB and account number to receive their salary. Domestic AUD transfers carry no fees. These features sit alongside the option to hold and manage several foreign currencies within the same account.
Multi-currency capabilities and interest on balances
Customers can receive funds with local account details in ten currencies, including AUD, GBP, EUR, and USD, through a single account. The account can hold more than 40 currencies, while the Wise card supports spending and cash withdrawals in more than 150 currencies.
Wise has also widened its interest offering for Australian users. Balances held in AUD, USD, EUR, and NZD now earn variable returns without funds being locked away, with stated after-fee annual rates of 3.76% for AUD, 3.02% for USD, 1.64% for EUR, and 1.92% for NZD.
Further tools include auto-conversion, which allows customers to set a target exchange rate and have currency converted automatically once it is reached. Moreover, bill-splitting and group spending features are also included, along with multi-currency savings pots called ‘Jars’.
Focus on people relocating to Australia
The product is aimed in part at people moving to Australia who need to manage money locally while keeping financial ties abroad. Wise cited research among more than 1,000 people who had relocated to Australia within the past decade, which found that 74% still face difficulties managing money across borders. The issues they reported included keeping track of funds in different currencies, high cross-border fees charged by traditional banks, and delays in international transfers. Separate figures cited by the company showed that 75% of relocators had experienced frustration managing money across currencies, and 67% had to use separate accounts, cards, or platforms.
According to Wise, the account is suited to the more than 500,000 people who move to Australia each year. The company presents it as an alternative to holding separate products for day-to-day banking, spending abroad, and international transfers.
Tristan Dakin, Country Manager for Australia at Wise, pointed out that around one in three people in Australia were born overseas, and added that although customers typically first use Wise for cross-border needs, demand is rising for tools that also support domestic spending. Dakin stated that the account is designed to close the gap between managing money at home and abroad.
Growth in Australian customer balances
The product comes as Wise’s activity in Australia increases. APRA data cited by the company shows that Australian customer balances reached approximately USD 1.9 billion by the end of September 2026, a 53% rise year on year. This growth reflects demand for financial tools that connect domestic and international transactions, particularly in a country with high levels of migration and a large overseas-born population.
The Everyday Account follows other recent additions to Wise’s Australian offering, including cards for users aged six to 17, QR code payment support, eSIM plans, and the option to buy airport lounge passes in the app.
