Wise launches Everyday Account in Australia for people relocating to the country

Wise has launched its Everyday Account in Australia, combining local payment services with the company’s existing multi-currency offering. The product is available to all Wise customers in Australia.

Local payments and multi-currency features

Customers can receive payments through PayID using a mobile number or email address, pay bills through BPAY, and receive their salary using a local BSB and account number. Domestic transfers in AUD are free. The account also lets customers hold and manage several currencies.

Customers can receive funds using local account details in ten currencies, including AUD, GBP, EUR, and USD. 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 expanded its interest offering for Australian customers. Variable returns are now available on balances in AUD, USD, EUR, and NZD, with no need to lock funds away. The stated annual rates after fees are 3.76% for AUD, 3.02% for USD, 1.64% for EUR, and 1.92% for NZD.

Other features include automatic currency conversion when an exchange rate set by the customer is reached. Customers can also split bills, manage group spending, and use multi-currency savings pots called “Jars”.

Designed for people relocating to Australia

The product is aimed in part at people moving to Australia who need to manage money locally while maintaining financial ties abroad. Wise cited research involving more than 1,000 people who had moved to Australia within the past decade. It found that 74% still face difficulties managing money across borders.

Reported problems included tracking funds in different currencies, high international transfer fees charged by traditional banks, and delays in transfers. Separate figures cited by Wise showed that 75% of people who had relocated had felt frustrated managing money across currencies, while 67% had needed separate accounts, cards, or platforms.

Wise says the account may suit the more than 500,000 people who move to Australia each year. The company presents it as an alternative to using separate products for everyday banking, spending abroad, and international transfers.

Tristan Dakin, Wise’s Country Manager for Australia, noted that around one in three people in the country were born overseas. He said customers typically first use Wise for cross-border needs, but demand is growing for tools that also support domestic spending. According to Dakin, the account is designed to connect money management at home and abroad.

Growth in Wise customer balances in Australia

The launch comes as Wise’s activity in Australia grows. APRA data cited by the company shows that Australian customer balances reached approximately USD 1.9 billion at the end of September 2026, up 53% year on year. This growth reflects demand for tools that connect domestic and international transactions, particularly in a country with high migration and a large overseas-born population.

The Everyday Account follows other recent additions to Wise’s Australian offering. These include cards for users aged six to 17, QR code payment support, eSIM plans, and the option to buy airport lounge passes in the app.