Multicurrency accounts / Australia
A bank guarantee is not a bank deposit.
NAB and CommBank issue direct foreign-currency accounts. Wise operates a purchased payment facility under a limited-ADI authorisation. Revolut and Airwallex describe bank guarantees held through a trustee over their wallet balances. PayPal pools balances at a licensed bank while stating that its facility is exempt from the Financial Claims Scheme. All six can expose useful currency functions, but their legal holder, payment rails and failure model are not interchangeable.
Direct answer
Start with who owes the balance, then compare currencies and fees.
NAB is the broadest direct-bank option here for both eligible personal and business use, with 16 cited currencies. CommBank's current public product is business-only and supports most freely convertible currencies. Wise offers the broadest cited personal-and-business holding set plus conditional receiving details. Revolut centres personal app, card and exchange use. Airwallex centres business collection and treasury operations. PayPal is most coherent when an existing checkout or payer relationship requires it. None gains FCS coverage merely by displaying a foreign balance: APRA expressly excludes foreign-currency deposits from the scheme.
Read the Australia market guideBrowse the multicurrency directoryRead the Wise reviewRead the Revolut reviewRead the Airwallex reviewClassification first
Direct deposits, payment facilities and guaranteed wallets are three different claims.
A currency code and account detail say little about the creditor relationship or protection model.
Direct ADI foreign-currency deposit
NAB and CommBank are Australian authorised deposit-taking institutions and directly issue their cited foreign-currency accounts. The customer has a bank account in the selected currency, subject to its terms, authorities and payment rails. That direct-deposit status still does not produce FCS coverage: APRA says the scheme applies only to funds in Australian dollars and excludes foreign-currency deposits.
Limited-ADI payment facility
Wise Australia is authorised as a limited ADI for purchased payment facilities. Its ordinary balance can hold supported currencies and connect to receiving details, cards, exchange and transfers. That limited authorisation must not be translated into an unrestricted bank licence, a conventional deposit account or automatic FCS protection. Wise Interest belongs to a separate investment entity and carries capital risk.
Wallet with bank guarantee
Revolut and Airwallex describe electronic or stored-value balances protected by guarantees issued by unnamed APRA-regulated banks, with GLAS holding the benefit on trust. The guarantee can be relevant if the wallet provider cannot repay, but it is not evidence that each customer owns a segregated bank deposit or receives a personal FCS limit at the guarantor.
Pooled purchased-payment balance
PayPal says balances are pooled with other customers' money and deposited at a licensed Australian bank. It also states plainly that PayPal's purchased payment facility is exempt from the FCS. The underlying pool does not make the customer the named bank depositor, and a currency balance remains subject to PayPal's holds, reserves, conversion and withdrawal rules.
Verified Australia multicurrency comparison
Change the job, not the evidence.
These controls only reorder approved market records. Legal entity, product class, protection wording, source date and confidence stay fixed.
Personal holding: Prioritises personal access and broad holding before business-only products.
| Provider | Product type | Market status | Legal entity | Protection model | Evidence | Compare |
|---|---|---|---|---|---|---|
| WiseBroad personal or business currency holding with conditional receiving details. | limited adi purchased payment facility multicurrency account | personal and business access with holding detail card route and fee conditions | Wise Australia Pty Ltd | Wise Australia is a limited ADI for purchased payment facilities and describes ordinary customer money through its safeguarding model. That is not a conventional direct bank deposit or general FCS label; Interest is a separate investment with capital at risk.A supported holding currency may lack local receiving details; sender, route, Swift fee, intermediary, card, conversion, verification and transaction limits remain separate. | 6 source records | |
| RevolutPersonal multicurrency app use where cards and exchange are central. | afsl multicurrency e money wallet with bank guarantee | personal access with identity plan currency transfer card and fair use conditions | Revolut Payments Australia Pty Ltd | Electronic money is protected by a bank guarantee issued by an unnamed Australian ADI to GLAS as trustee for account holders. The guarantee is not the same as the customer owning a deposit or receiving a separate FCS entitlement.The pending APRA licence application does not change today's product. Plan, fair-use, outside-market-hours, transfer, card, ATM and third-party conditions apply. | 3 source records | |
| NABPersonal or business customers wanting a direct Australian-bank currency account. | australian adi direct foreign currency transaction account | personal and business access with currency channel authority and payment conditions | National Australia Bank Limited | The account is a direct deposit liability of NAB, an Australian ADI. APRA explicitly excludes funds in foreign currencies from the Financial Claims Scheme, even though eligible AUD deposits at NAB may be covered.Branch or banker onboarding, currencies, account authorities, cut-offs, exchange, correspondent deductions, interest and transaction charges remain conditional. | 4 source records | |
| PayPalCustomers or merchants whose payer, checkout or marketplace already requires PayPal. | fcs exempt purchased payment facility multicurrency wallet | personal and business payments with balance currency conversion and withdrawal conditions | PayPal Australia Pty Ltd | PayPal pools customer balances at a licensed Australian bank but explicitly states that its purchased payment facility is exempt from the FCS. The pooled account does not become the customer's direct bank deposit.Currency support, automatic acceptance, conversion, withdrawal, commercial fees, holds, reserves, disputes and account limitations remain conditional. | 4 source records | |
| CommBankEligible businesses already operating through CommBank and CommBiz or NetBank. | australian adi direct business foreign currency account | business only with aud account registration currency and payment conditions | Commonwealth Bank of Australia | The balance is a direct liability of CommBank, an Australian ADI. Foreign-currency deposits remain outside the FCS; any eligible AUD balance is a separate currency and protection question.ABN, ACN or ASIC eligibility, entity type, interest, credit-deposit fees, cash services, conversion, payment rails and correspondent fees remain conditional. | 4 source records | |
| AirwallexEligible businesses collecting, holding and paying across several markets. | business multicurrency wallet and global accounts with bank guarantees | eligible australian businesses with entity plan currency rail and risk conditions | Airwallex Pty Ltd and Airwallex SVF Pty Ltd | Airwallex SVF arranges guarantees from unnamed APRA-regulated banks, with GLAS holding their benefit for customers. This structure is not a direct deposit or blanket FCS claim; Yield is a separate investment product.Entity approval, local-detail location, domestic or Swift rail, plan waiver, FX markup, transfer fee, card, restricted activity and beneficiary conditions apply. | 4 source records |
Wise
limited adi purchased payment facility multicurrency account- Market status
- personal and business access with holding detail card route and fee conditions
- Legal entity
- Wise Australia Pty Ltd
- Product note
- Wise lists ordinary holding in 40 or more currencies and receiving details for 22 for eligible Australian personal and business customers. Holding, local details, Swift details, cards and Interest are separate capabilities.
- Protection model
- Wise Australia is a limited ADI for purchased payment facilities and describes ordinary customer money through its safeguarding model. That is not a conventional direct bank deposit or general FCS label; Interest is a separate investment with capital at risk.A supported holding currency may lack local receiving details; sender, route, Swift fee, intermediary, card, conversion, verification and transaction limits remain separate.
View legal and product sources
Revolut
afsl multicurrency e money wallet with bank guarantee- Market status
- personal access with identity plan currency transfer card and fair use conditions
- Legal entity
- Revolut Payments Australia Pty Ltd
- Product note
- Revolut's current personal account is a virtual e-money wallet that can hold different currencies, with local AUD details, Swift inbound transfers, exchange, bank transfers and a card. It is not yet a bank deposit account.
- Protection model
- Electronic money is protected by a bank guarantee issued by an unnamed Australian ADI to GLAS as trustee for account holders. The guarantee is not the same as the customer owning a deposit or receiving a separate FCS entitlement.The pending APRA licence application does not change today's product. Plan, fair-use, outside-market-hours, transfer, card, ATM and third-party conditions apply.
View legal and product sources
NAB
australian adi direct foreign currency transaction account- Market status
- personal and business access with currency channel authority and payment conditions
- Legal entity
- National Australia Bank Limited
- Product note
- NAB directly issues a foreign-currency transaction account in 16 listed currencies. Eligible personal and business customers can receive, hold and send supported foreign currency without immediate AUD conversion.
- Protection model
- The account is a direct deposit liability of NAB, an Australian ADI. APRA explicitly excludes funds in foreign currencies from the Financial Claims Scheme, even though eligible AUD deposits at NAB may be covered.Branch or banker onboarding, currencies, account authorities, cut-offs, exchange, correspondent deductions, interest and transaction charges remain conditional.
View legal and product sources
PayPal
fcs exempt purchased payment facility multicurrency wallet- Market status
- personal and business payments with balance currency conversion and withdrawal conditions
- Legal entity
- PayPal Australia Pty Ltd
- Product note
- PayPal may let Australian customers keep and convert several currency balances and receive payments in a different currency. It is primarily a payment wallet: most withdrawals are in AUD, with a conditional USD-to-US-bank path.
- Protection model
- PayPal pools customer balances at a licensed Australian bank but explicitly states that its purchased payment facility is exempt from the FCS. The pooled account does not become the customer's direct bank deposit.Currency support, automatic acceptance, conversion, withdrawal, commercial fees, holds, reserves, disputes and account limitations remain conditional.
View legal and product sources
CommBank
australian adi direct business foreign currency account- Market status
- business only with aud account registration currency and payment conditions
- Legal entity
- Commonwealth Bank of Australia
- Product note
- CommBank directly issues a business foreign-currency account that can hold, send and receive most freely convertible currencies. The cited product requires business use and an eligible CommBank AUD account.
- Protection model
- The balance is a direct liability of CommBank, an Australian ADI. Foreign-currency deposits remain outside the FCS; any eligible AUD balance is a separate currency and protection question.ABN, ACN or ASIC eligibility, entity type, interest, credit-deposit fees, cash services, conversion, payment rails and correspondent fees remain conditional.
View legal and product sources
Airwallex
business multicurrency wallet and global accounts with bank guarantees- Market status
- eligible australian businesses with entity plan currency rail and risk conditions
- Legal entity
- Airwallex Pty Ltd and Airwallex SVF Pty Ltd
- Product note
- Airwallex lists business wallet collection and holding in 20 or more currencies, Global Accounts with local details, conversion, local and Swift transfers and corporate cards. Global Account details feed the wallet rather than creating direct customer deposits.
- Protection model
- Airwallex SVF arranges guarantees from unnamed APRA-regulated banks, with GLAS holding their benefit for customers. This structure is not a direct deposit or blanket FCS claim; Yield is a separate investment product.Entity approval, local-detail location, domestic or Swift rail, plan waiver, FX markup, transfer fee, card, restricted activity and beneficiary conditions apply.
View legal and product sources
0 selected locally.No matching comparison is published
Protection boundary
The FCS covers eligible AUD deposits, not foreign-currency balances.
APRA describes protection up to AUD 250,000 for each account holder at each eligible Australian-incorporated ADI if the Australian Government activates the Financial Claims Scheme. It aggregates eligible protected accounts across banking businesses under the same licence. APRA's current guidance then draws a bright currency boundary: funds in foreign currencies are not covered. A USD balance at NAB or CommBank is therefore still a direct bank liability, but it is not an FCS-covered USD deposit. Converting to AUD changes the currency state; exact product, ownership and aggregation still need confirmation.
Wallet protection must be read from the provider's own legal structure. Wise's limited-ADI purchased payment facility, Revolut's GLAS-held bank guarantee, Airwallex's GLAS-held bank guarantees and PayPal's licensed-bank pool are four different arrangements. None should be simplified into "government guaranteed." A guarantee can contain issuer, trustee, claim, timing and shortfall conditions. Safeguarding can depend on how money is held and reconciled. A pool can leave the provider, rather than the customer, as the bank's account holder. Preserve those distinctions when comparing failure or insolvency risk.
NAB and CommBank
Direct bank liabilities; foreign-currency balances are expressly outside the FCS.
Wise
Limited-ADI purchased payment facility with ordinary and investment balances separated.
Revolut and Airwallex
Wallet balances with bank guarantees held through GLAS, not customer deposits.
PayPal
Pooled licensed-bank holding with an explicit FCS exemption for the PayPal balance.
Capability and cost matrix
Holding, receiving, converting, paying and withdrawing each have their own price.
Compare the complete route for the currency job rather than one headline fee or currency count.
NAB and CommBank direct accounts
NAB lists 16 supported currencies, no opening fee, no monthly account fee and no minimum ongoing balance on the observed page. CommBank lists most freely convertible currencies, no monthly account fee and conditional interest for selected currencies. Those statements do not mean every transaction is free. Foreign cash, international transfers, correspondent deductions, assisted service, conversion, debit interest, credit-deposit fees and beneficiary-bank charges can sit on different schedules. NAB uses branch or banker onboarding; CommBank's public business product requires an eligible AUD account and business credentials. Confirm the live quote and account terms before moving funds.
Wise and Revolut personal use
Wise lists holding 40 or more currencies without a holding fee and receiving details in 22 currencies. Eligible domestic receipts in listed currencies can be free, while certain Swift receipts have fixed fees and may also face intermediary deductions. Revolut markets 30 or more currencies, but exchange pricing changes with plan allowances and timing; transfer, card, ATM and third-party charges remain distinct. Neither currency count proves that a customer receives local details in every currency. Inspect the exact in-app receiving instruction and pre-transaction quote.
Airwallex and PayPal business flows
Airwallex lists Global Accounts and wallet collection or holding in 20 or more currencies. The observed Explore plan is AUD 29 monthly or AUD 0 when its stated monthly funding-flow or combined-balance condition is met. Major-currency FX and other-currency FX use different markups, and Swift transfers carry separate price rows. PayPal has no general monthly account-keeping fee in its disclosure, but commercial receipt, international, conversion, dispute and payout charges can combine. A PayPal balance generally exits in AUD, so the conversion cost can be unavoidable even when the incoming currency was retained.
Receiving and payment sequence
Match the named customer, detail, rail, currency and final balance before sharing instructions.
A direct bank account may receive through Swift or another bank-supported route. A Wise, Revolut or Airwallex detail can represent a provider-assigned collection route with currency-specific sender and reference requirements. PayPal generally receives through a PayPal payment rather than a reusable bank detail. NPP, PayID, BECS, RTGS and Swift describe rails, not universal account capabilities. A provider can support one rail for AUD and a different international route for foreign currency; never substitute an AUD BSB and account number for a USD instruction without explicit authenticated guidance.
Before sharing details, verify the legal account name, customer type, currency, sender location, domestic or international rail, mandatory reference, permitted payment purpose and expected beneficiary. Preserve the instruction that was displayed when the payment was initiated. If the sender already transmitted funds, do not send a second payment merely because the recipient screen is delayed. First obtain the bank or provider trace, then distinguish pending, compliance review, returned, rejected and credited states.
- 01Classify direct bank deposit, payment facility, guaranteed wallet or checkout balance.
- 02Confirm personal or business eligibility, entity, identity, authority and account purpose.
- 03Match currency, local or Swift detail, sender type, rail and exact payment reference.
- 04Review holding, conversion, transfer, correspondent, recipient and withdrawal costs.
- 05Retain the quote, payment receipt, trace, conversion record and final credited balance.
Loading, empty, stale, error and unavailable states
A delayed balance is not proof that the money disappeared or arrived.
Keep the rail and provider state visible before retrying, converting or escalating.
Loading or empty currency list
A loading app or empty currency picker does not prove permanent unavailability. Check the provider status page, authenticated service notices, customer country, plan, account type, verification and feature entitlement. Do not fund a remembered or copied detail while the current instruction is unavailable. Record the time and retry safely without submitting a duplicate transfer.
Currency or detail unavailable
A provider can allow holding without local details, or details without third-party receipts. A bank can offer a currency but restrict the application channel or customer type. Treat the precise unavailable state as authoritative until the provider approves access. Do not infer Australian eligibility from a provider's US, UK or global page.
Stale BSB, account or Swift instruction
Collection banks, BSBs, account numbers, IBANs, Swift codes and mandatory references can change. Compare the saved instruction with the current authenticated screen before each material payment. If a detail migrated, use the provider's transition process. Never ask the sender to redirect based only on an email, message or search result.
Regulatory or fraud review
A bank or payment provider can request identity, ownership, invoice, source-of-funds, beneficiary or business-purpose evidence. A review is not a failed payment and does not justify splitting or disguising the transaction. Submit accurate documents through the authenticated channel, retain the case reference and wait for a credited, rejected or returned outcome.
Intermediary deduction or changing quote
Swift and correspondent chains can deduct charges or convert at a different stage. Exchange quotes can expire while a payment is being prepared. Reconcile original amount, provider fee, rate, intermediary deduction, beneficiary-bank fee and credited amount. Never advertise a guaranteed received amount or arrival time unless the exact product contract provides it.
Restricted, closing or disputed account
Holding, exchange, card, receipt and withdrawal functions can be restricted independently. Follow the provider complaint process and preserve statements before closure. AFCA may be an escalation path for an eligible unresolved complaint, but jurisdiction and time limits must be checked. A complaint does not remove the need to identify the exact transaction and legal entity.
Decision walkthroughs
Six Australian currency jobs produce six different shortlists.
These examples classify sourced products; they are not tax, legal, treasury, hedging or investment advice.
Individual paid regularly in USD
NAB can fit someone who wants a direct Australian-bank USD account and accepts branch onboarding. Wise may fit someone who values assigned receiving details, conversion and card use. Revolut can fit app and card use, but the legal balance is e-money under a guarantee. Compare sender eligibility, local or Swift receipt route, incoming fee, correspondent deduction, withdrawal path and the absence of FCS coverage for the USD balance. Confirm tax and reporting obligations separately.
Exporter invoicing several markets
Airwallex and Wise offer the broadest cited collection-detail patterns here, while CommBank and NAB provide direct bank accounts. Build a currency-by-currency matrix: customer location, local detail, Swift availability, third-party receipt permission, invoice reference, holding support, conversion price, outbound rail and accounting export. A global-account label is not enough; verify which legal entity owns each detail and where the resulting balance sits.
CommBank business avoiding repeated conversion
The Business Foreign Currency Account can hold, pay and receive supported currencies without converting each flow to AUD. Confirm the required CommBank AUD account, ABN or ACN, entity eligibility, online authority, selected currency, interest or credit-deposit fee, international-payment charge and cash limitation. Keep AUD operating funds separate from foreign balances when assessing FCS coverage.
Traveller using card balances
Wise and Revolut both support multicurrency card workflows, but exchange allowances, weekend treatment, ATM fees, card issuance, replacement and merchant conversion can differ. Airwallex cards are business products. PayPal is not a general travel-card substitute. At the terminal or ATM, reject dynamic currency conversion when the provider's own rate is preferred, confirm the displayed currency and retain the receipt.
Online seller already using PayPal
PayPal can retain an eligible incoming currency, which may avoid immediate conversion when the merchant will spend in that same currency through PayPal. Most bank withdrawal paths return to AUD, so model the eventual conversion as well as the receipt fee. Review holds, reserves, disputes, refund exchange-rate treatment and FCS exemption. Do not treat the pooled licensed-bank account as the seller's deposit.
Treasurer prioritising failure structure
Start with direct bank liability versus payment-facility balance, then examine the wallet's safeguarding or guarantee documents. For NAB and CommBank, assess bank credit and remember the FCS foreign-currency exclusion. For Revolut and Airwallex, examine the guarantee issuer, GLAS trust, claim and shortfall mechanics. For Wise and PayPal, examine facility and pooling disclosures. Diversification can reduce concentration but does not turn excluded funds into guaranteed deposits.
Approved evidence
Every currency claim keeps its legal holder, market and observation date.
Products, currencies, fees, rails, guarantees and protection require launch-time and material-change reverification.
NAB Australia multicurrency evidence
NAB is displayed as australian adi direct foreign currency transaction account.
- NAB documents a direct foreign-currency transaction account in 16 listed currencies that can receive and send supported foreign currencies without immediate conversion to Australian dollars.
- The page lists no opening fee, monthly account fee or minimum ongoing balance; holding, payment, conversion, correspondent and transaction charges remain subject to the current terms and fee guide.
- Personal customers apply through a branch and business customers through a banker; currency availability, identification and approval remain conditional.
- The terms effective April 2026 govern NAB's onshore Foreign Currency Account and explain account operation, instructions, interest, fees, exchange, changes, suspension and closure.
- Foreign-currency values can move against Australian dollars and transaction execution can depend on cut-off times, correspondents, sanctions, available balance and account authority.
- The product is a direct NAB account, but APRA states that foreign-currency deposits are outside the Financial Claims Scheme.
- APRA states that eligible deposits are protected up to AUD 250,000 for each account holder at each Australian-incorporated authorised deposit-taking institution if the Australian Government activates the Financial Claims Scheme.
- Coverage depends on the exact ADI, account holder, eligible account and aggregation across banking businesses operated under the same licence.
- Foreign-currency deposits and funds at non-ADI institutions are not covered by the general deposit statement.
- The register updated 1 July 2026 lists Bendigo and Adelaide Bank Limited, National Australia Bank Limited and Wise Australia Pty Ltd among Australian ADIs.
- Wise's authorisation is a purchased-payment-facility ADI authorisation and must not be rewritten as an unrestricted retail-bank licence.
- A trading name or product inherits no separate licence; the exact issuing entity and protection conditions remain required.
CommBank Australia multicurrency evidence
CommBank is displayed as australian adi direct business foreign currency account.
- CommBank documents a business-only direct foreign-currency account that can hold, send and receive most freely convertible currencies without converting each payment to Australian dollars.
- The current product page lists no monthly account fee and conditional interest for selected currencies; payment, cash, conversion, correspondent and wholesale credit-deposit charges remain separate.
- Eligibility includes business use, an eligible CommBank AUD account and applicable ABN, ACN, ASIC registration and entity conditions.
- The terms effective 6 March 2026 identify Commonwealth Bank of Australia as issuer and govern personal and business foreign-currency account operation.
- Account authorities, deposits, withdrawals, interest, debit balances, fees, conversion, statements, holds and closure remain subject to the exact account and instruction.
- The direct-ADI product label does not create FCS coverage for a foreign-currency balance because APRA excludes foreign-currency deposits from the scheme.
- APRA states that eligible deposits are protected up to AUD 250,000 for each account holder at each Australian-incorporated authorised deposit-taking institution if the Australian Government activates the Financial Claims Scheme.
- Coverage depends on the exact ADI, account holder, eligible account and aggregation across banking businesses operated under the same licence.
- Foreign-currency deposits and funds at non-ADI institutions are not covered by the general deposit statement.
- The register updated 1 July 2026 lists Bendigo and Adelaide Bank Limited, National Australia Bank Limited and Wise Australia Pty Ltd among Australian ADIs.
- Wise's authorisation is a purchased-payment-facility ADI authorisation and must not be rewritten as an unrestricted retail-bank licence.
- A trading name or product inherits no separate licence; the exact issuing entity and protection conditions remain required.
Wise Australia multicurrency evidence
Wise is displayed as limited adi purchased payment facility multicurrency account.
- Wise identifies Wise Australia Pty Ltd as ASIC-regulated under AFSL 513764 and APRA-authorised as a limited ADI for purchased payment facilities.
- Wise Australia is also an AUSTRAC reporting entity; Wise Australia Investments Pty Ltd is a separate AFSL entity for investment products.
- The limited PPF authorisation and a separate investment affiliate must not be rewritten as an unrestricted bank-deposit product.
- Wise describes one multicurrency account with card and receiving-detail features rather than multiple bank accounts.
- It says customer money is protected through safeguarding rather than classic bank-account compensation schemes.
- Australian AUD receiving details are not described as a bank account and product-specific receiving restrictions apply.
- Wise lists ordinary holding in 40 or more supported currencies without a holding fee for eligible Australian customers.
- Conversion, sending, receiving, card and investment actions use separate pricing and eligibility rules; a supported holding currency does not imply local receiving details.
- The ordinary Wise balance is a purchased-payment-facility balance under Wise Australia's limited-ADI scope, not a conventional customer bank deposit.
- Wise lists account details for receiving 22 currencies, with eligible domestic receipts free in listed currencies and separate fixed fees for certain Swift receipts.
- A receiving detail's rail, supported sender, reference, intermediary fee and route depend on the currency-specific instructions shown in the account.
- The receiving detail and Wise balance remain payment-facility features and must not be presented as a direct deposit at the bank that provides a rail.
- Wise Business supports conditional multicurrency receiving, holding, conversion, payments, cards, batch payments and team workflows for eligible Australian businesses.
- Wise Australia Pty Ltd provides the payment facility under its Australian regulatory permissions rather than as an unrestricted direct business bank account.
- Business verification, currencies, receiving details, cards, recipients, limits, investment features and support remain product- and customer-specific.
- The current page lists AUD 65 for all business features and receiving details, with sending and conversion fees starting from 0.63% on eligible routes.
- Holding ordinary supported currencies and eligible domestic receiving are listed without a fee; Swift, card, ATM and external-wallet actions retain separate pricing.
- Wise Interest is a separate capital-at-risk investment with its own annual fee and must not be presented as a guaranteed business deposit return.
Revolut Australia multicurrency evidence
Revolut is displayed as afsl multicurrency e money wallet with bank guarantee.
- The current agreement is with Revolut Payments Australia Pty Ltd, which holds AFSL 517589.
- The account holds electronic money protected by a bank guarantee from an unnamed Australian ADI, with GLAS holding the benefit on trust for account holders.
- Revolut's APRA application for an ADI licence is pending; notification terms for a possible future bank product are not currently effective.
- The schedule lists AUD transfers to Australian bank accounts without a Revolut fee for the Standard plan.
- Exchange pricing changes after fair-use limits and outside market hours; crypto, metals, cards and third-party charges remain separate.
- The transaction preview and current plan terms must be checked before use.
- Revolut markets personal holding and exchange in 30 or more currencies together with local AUD receipt, international transfer and card features.
- The current legal terms, not the marketing account label, establish that the product is a virtual e-money wallet protected by the cited bank-guarantee trust structure.
- Plan, fair-use, weekend, transfer, card, ATM and third-party charges or limits remain separate and are controlled by the live plan and transaction preview.
Airwallex Australia multicurrency evidence
Airwallex is displayed as business multicurrency wallet and global accounts with bank guarantees.
- Airwallex describes a business-only platform for eligible Australian organisations with multicurrency collection, transfer, card, payment and accounting features.
- Onboarding, entity type, ABN, currencies, destinations and individual features remain subject to verification and product conditions.
- The business-account label does not make Airwallex a bank or make Yield a deposit.
- Airwallex lists business Global Accounts with local bank details and wallet collection and holding in 20 or more currencies, plus conversion, local payout, Swift and corporate-card capabilities.
- The observed Explore price is AUD 29 monthly or AUD 0 when the stated monthly deposit-flow or combined-balance condition is met; FX, Swift and other transaction charges are separate.
- Global Account details feed an Airwallex wallet protected under the separate cited bank-guarantee structure; the details are not direct customer deposits and Yield is a separate investment.
- The Explore plan was listed at AUD 29 per month or AUD 0 when the cited deposit-flow or wallet-balance condition is met; Grow was AUD 99 per month when observed.
- FX, transfers, payment acceptance, spend users and other transaction or product charges remain separate.
- Yield return figures are investment snapshots net of cited fees, carry capital risk and are not bank-deposit rates.
- Airwallex SVF Pty Ltd arranges bank guarantees from unnamed APRA-regulated banks over wallet balances.
- GLAS is the independent trustee holding the benefit of the guarantees for customers and may receive claims if Airwallex cannot repay due to insolvency.
- The bank-guarantee structure is not presented as a direct customer bank deposit or a blanket Financial Claims Scheme claim.
PayPal Australia multicurrency evidence
PayPal is displayed as fcs exempt purchased payment facility multicurrency wallet.
- The agreement, last updated 10 June 2026 when observed, is between Australian account holders and PayPal Australia Pty Ltd.
- Individuals must be Australian residents aged at least 18; business accounts require an Australian organisation, operation or residence.
- Account, transaction, conversion, withdrawal, protection and eligibility terms remain product-specific.
- PayPal may allow an Australian customer to hold balances in currencies other than Australian dollars and convert between eligible balances subject to limits and its transaction exchange rate.
- Withdrawals are generally in Australian dollars, with a conditional US-dollar withdrawal path to a linked US bank account; other balances require conversion before or during withdrawal.
- PayPal assigns currency fluctuation risk to the customer and prohibits speculative currency activity; the balance remains an FCS-exempt purchased payment facility.
- PayPal states that customer balances are pooled and deposited with a licensed Australian bank.
- It explicitly says PayPal's purchased payment facility is exempt from the Australian Financial Claims Scheme.
- The pooled-bank arrangement must not be converted into a direct deposit or FCS claim for the PayPal balance.
- The schedule last updated 9 February 2026 lists a standard 2.90 percent plus fixed fee for domestic commercial receipts and an additional percentage for international commercial transactions.
- Currency conversion, card processing, QR, dispute, payout and other product fees use separate rows and eligibility conditions.
- The current disclosure and transaction context must be checked before publishing or relying on a fee.
Australia payments, ADI and protection evidence
- APRA states that eligible deposits are protected up to AUD 250,000 for each account holder at each Australian-incorporated authorised deposit-taking institution if the Australian Government activates the Financial Claims Scheme.
- Coverage depends on the exact ADI, account holder, eligible account and aggregation across banking businesses operated under the same licence.
- Foreign-currency deposits and funds at non-ADI institutions are not covered by the general deposit statement.
- The register updated 1 July 2026 lists Bendigo and Adelaide Bank Limited, National Australia Bank Limited and Wise Australia Pty Ltd among Australian ADIs.
- Wise's authorisation is a purchased-payment-facility ADI authorisation and must not be rewritten as an unrestricted retail-bank licence.
- A trading name or product inherits no separate licence; the exact issuing entity and protection conditions remain required.
- The RBA describes the NPP as open-access fast-payment infrastructure with near real-time availability, 24/7 operation and richer payment information.
- The RBA's Fast Settlement Service settles NPP transactions between participating institutions in central-bank funds.
- Market infrastructure does not establish that every provider, product, direction or account supports an NPP service.
- AP+ describes PayID as an identifier linked to an eligible account and managed through participating online banking services.
- PayID payments use the NPP and can be held for security checks; participating institutions set customer access and conditions.
- A country-level PayID record does not prove a provider feature, payment limit, fee or completion time.
- The RBA describes BECS as Australia's direct-entry system for salaries, welfare and pensions plus recurring direct debits.
- Industry has communicated a target to retire BECS in favour of modern infrastructure, subject to ongoing review.
- BECS market context does not establish that every provider supports direct credits, debits or a particular processing time.
Unavailable or deliberately not inferred
- A universal best multicurrency account, numerical ranking or permanent currency count.
- FCS coverage for any foreign-currency deposit, guaranteed wallet or purchased payment facility.
- A direct customer deposit inferred from a local detail, Swift detail, pooled account or bank guarantee.
- Local receiving details in every supported holding currency or third-party receipts on every detail.
- A current bank licence inferred from Revolut's pending APRA application or future-notice terms.
- A bank deposit or guaranteed return inferred from Wise Interest or Airwallex Yield.
- Guaranteed exchange rates, fee waivers, transfer times, intermediary deductions, approval or recovery outcomes.
- Customer-specific tax, accounting, hedging, treasury, insolvency, legal or investment advice.