Wise: How to transfer money to Australia & Reviews (2025)

If you want to transfer your money internationally, Wise is one of the cheapest and best options. This specialised platform for international transfers, offers some of the best exchange rates on the market. Here’s a presentation of Wise, including our experience and the opinions of other users. We also have provided a step-by-step Wise tutorial for your registration and 1st transfer.

How does Wise work?

Wise is an online payment operator that lets you transfer money abroad. In 80 countries and 53 different currencies. With this system, you can hold and spend money online or in shops, send and receive money, and withdraw money from anywhere in the world. All transactions are carried out at real rates, so there are no surcharges like with traditional banks.

Wise offers exchange rates very close to the market rate for many currencies. The principle is simple: you transfer funds from your bank account to the Wise account, and the platform then transfers them to your receiving account abroad. It works the same both ways.

Please note: the exchange rate applied to your transfer is actually that of the day on which the Wise platform carries out your transfer. So don’t take the daily rate into account when you register.

As well as being a transfer platform, Wise also offers a multi-currency debit card. This allows you to spend money worldwide with low conversion fees and no transaction fees. The card is only available to multi-currency account holders resident in certain countries (UK, USA, Australia, New Zealand, etc.). This type of account works with 6 different currencies: euros, pounds sterling, US dollars, Australian dollars, New Zealand dollars and Polish zloty.

How much does Wise cost?

Unsurprisingly, as soon as you register, you know the exchange rate applied and the fees charged by Wise. A single and unique commission is applied to the transferred amount.

• AUD → USD: Fee 0.40% (min AUD 3.50) – mid-market rate minus 0.0% markup.
• AUD → EUR: Fee 0.38% (min AUD 3.00).
• AUD → GBP: Fee 0.42% (min AUD 3.50).
• USD → AUD: Fee 0.35% (min USD 2.50).
• EUR → AUD: Fee 0.36% (min EUR 2.60).

All fees and rates are displayed in-app before you confirm, with no surprises.

Wise offers two options to meet your money transfer needs to Australia:

Low-cost (bank debit/SEPA):

• Fixed fee: ~ €0.50
• Variable fee: ~ 0.40 % of the amount

Fast (card payments):

• Fixed fee: ~ €0.50
• Variable fee: ~ 1.00 % of the amount (covers both Wise’s cost and card-processing fees).

Wise vs. Banks & Other Providers

Transfer methods with Wise

Euros transfer (EUR)

When sending euros (EUR) abroad, you can choose between:

• Bank debit (SEPA or local bank network)
• Debit or credit card
• Apple Pay / Google Pay.

Standard (Low-Cost) Transfer

How it works: You fund your transfer via a normal bank debit / SEPA transfer in Europe (free on your side), and Wise sends funds through local banking networks on the recipient side.

Speed: 1–2 business days for EUR → AUD; instant or same-day within Europe.

Fees:

• Fixed fee: €0.50
• Variable fee: ~ 0.40 % of the amount

When to use: Best for larger amounts when you’re not in a rush—this is always the cheapest option.

SWIFT Transfer (for non-SEPA corridors)

When to use: Only when SEPA/local rails aren’t available for your currency pair.

How it works: Uses the global SWIFT network—available when sending to currencies or countries not supported by local rails.

Speed: 1–3 business days typically.

Fees:

Fixed fee: €3.50

Variable fee: ~ 0.60 %

Card Payment (Fast)

How it works: Enter your debit/credit card details (or use Apple Pay/Google Pay) and Wise processes the payment immediately.

Speed: Instant to a few hours for most major currencies; same-day arrival for EUR → AUD in many cases.

Fees:

• Fixed fee: €0.50
• Variable fee: ~ 1.00 % of the amount (covers card-network charges)

When to use: Ideal for urgent transfers under €5,000 where speed matters more than saving a bit on fees.

Australian dollars (AUD) transfer

When you want to send AUD abroad or convert to another currency, Wise lets you fund via four primary methods:

Note:

• Osko/NPP/PayID is the cheapest & fastest—use whenever your bank supports it.
• BPAY is equally cost-effective but takes a full day, useful if you don’t have Osko/NPP set up.
• Card payments cost more but are handy if you need instant credit to your Wise balance.
• SWIFT is a fallback if your bank can’t do Osko/NPP or BPAY, or if you’re funding in another currency.

Comparison: Wise vs. mobile banks

Other Wise tools & services

Wise Multi-Currency Account

Wise Debit Mastercard is now free to order—no issuance fee—and comes with up to AUD 400 / month in free ATM withdrawals, then a 2% fee on excess withdrawals.

Hold & Convert over 50+ currencies (AUD, USD, EUR, GBP, JPY, etc.) at real-mid-market rates.
Send to 180+ countries via local rails — same low conversion fees apply.

No account-keeping fees; registering and verifying your identity (via SMS or ID upload) is completely free.

Wise Debit card

• Zero foreign-transaction markups (you always get the mid-market rate).
• Instant in-app freezes/unfreezes, and spend notifications by SMS/email.
• ATM withdrawals: Free up to AUD 400 per rolling 30-day period; thereafter, 2% of withdrawal amount.
• No monthly or annual fees.

Rate Alerts

Unlimited alerts, free to use, and great for timing large transfers.
Set up custom alerts in the Wise app or web to notify you by email or push notification when your desired currency pair hits your target rate.

Invest in stocks

• Access fractional shares of 1,000+ US-listed companies (e.g. Apple, Tesla).
• Commission: USD 1 flat per trade.
• Data & research built into the app; track your portfolio in real time.
• Note: Investments are in USD; returns will vary with FX movements.

Earning ‘Interest’ (Interest-Bearing Balances)

• Earn variable interest on idle balances: currently 4.00% p.a. on GBP and 3.00% p.a. on EUR (rates adjust monthly to central-bank benchmarks).
• Funds remain fully liquid—withdraw anytime without penalty.
• Deposits are held with regulated partner banks in the UK/EU under local deposit-protection schemes.

Capital at risk, the current rate does not guarantee future growth.

How It Works (Step-by-Step)

Step 1: Create & Verify Your Account

Start creating your account by clicking here.

Once you’re on the Wise homepage, click “Open an account”.

Follow the steps to create your account by entering your email address.
You will have to choose if you want a personal account or a business account.
You will then have to verify your phone number with a code and then choose a password.

Once your account is created, click on “Send Money” under the “Payments” tab at the top left of the page to begin your transfer.

Step 2: Set up your money transfer

You are now ready to transfer your money. On this screen, enter:

• The amount you want to transfer
• The original currency and the currency of the converted amount (€/$)
• Also select the desired transfer type:
  Easy and fast transfer (faster but more expensive)
  Low cost transfer (cheaper but slower) – We recommend this option.

• You will then get:
• The amount converted into the desired currency
• Reminder of transfer fees as well as the exchange rate applied
• The amount you will save compared to a classic transfer through your bank

Click “continue”. You will then have to fill in all of your contact details. On the next page, you will have to choose whether you want to make a transfer to yourself or someone else. You will have to add your transfer recipient as a new contact.

Then fill in your bank details:

• Name of bank account owner
• BSB code: BSB number (equivalent to SWIFT code in Australia)
• Account number

Note: Depending on the country, this information may be different. In Ireland, for example, you will be asked for your IBAN.

Click “Confirm”.

Step 3: Confirm transfer

The next page is a summary of the transfer you wish to make.

You can add a reference to your transfer. That way, when you look back on the transfer you will remember what it was for etc.
Once the information is verified, click “Confirm and continue”.

You can then choose your preferred method of payment and click “continue to payment”.

NB: We recommend wire transfers to avoid paying additional fees.

A pop-up window will then appear. Read the content and click on “I understand”

Step 4: Send the funds by bank transfer

You will then need to confirm whether you are sending money from your own account or from a joint account. Choose the option that applies to your situation.

Generally, the bank transfer will be made using online banking.

Wise will then provide their bank details so you can make the transfer to them. Wise will not automatically withdraw money from your bank account.

1 – Click “Pay now” and select your bank to be brought to their website so you can access your online bank account. Enter Wise’s account information. Wise will then transfer the funds to your account abroad. Depending on the bank, adding a beneficiary can take 1 to 3 business days.

2 – Once the Wise account has been added as a beneficiary, make a transfer of the amount provided to this account. Remember to enter a reference for your transfer. Allow at least 48 hours for the money to be paid into your home account after sending the funds.

3 – Click on “I’ve paid“.

Step 5: Wait for the transfer to be received

Wise will send you an email confirming receipt of your transfer. They will then make the conversion into the desired currency and automatically transfer the funds to the specified receiving account. You will receive a second email telling you that the transfer is in progress, with the confirmed amount and a provisional date of arrival.

Key Features in 2025

Why Choose Wise for Your International Transfers?

• True Mid-Market Exchange Rate
  No hidden markup—Wise uses the real “mid-market” rate you see on Google or XE, so you’re getting the fairest conversion available.
• Transparent, Low Fees
  Fees start at as little as 0.35% of the amount sent (minimum ~AUD 3) and vary by currency corridor—always shown up front before you commit.
• Fast & Convenient
  Most AUD to USD/EUR/GBP transfers arrive within minutes to a few hours, and AUD to some Asian currencies in under a day.

Rating on TrustPilot

Wise has also received a rating of 4.3/5 on TrustPilot with 258,709 reviews.

Our experience with Wise

The Wise user interface is very ergonomic and registration is quick and easy. We have already used their services many times. Once your account is created and the first transfer is made, the procedures are even faster. In just a few clicks you can transfer your money with TransferWise.

There are several methods to transfer money with Wise. Online payment by credit card and bank transfer. However, payment by card may be limited by the ceiling authorized by your bank.

How long does a transfer take?

In terms of time to make your first transfer, there are three parameters to take into account:

1 – The time imposed by your bank to add a beneficiary for your transfers (vary from 24 to 72 hours)
2 – The time required to make your transfer with your bank. In general 1 working day, so if you make the transfer on weekends you will have to wait for Monday.
3 – The time required to make the transfer by Wise to your account. In general 1 working day, so if you make the transfer on weekends you will have to wait for Monday.

As an example when we made our first transfer:

• Monday: We signed up and added Wise as a beneficiary to our bank the same day.
• Wednesday: We were able to transfer to the Wise account.
• Thursday: Wise informed us of the receipt of our transfer and a few hours later we received an email from them to inform us that the transfer was underway.
• Friday: The money was in our Australian account.

So it took us 5 days for our first transfer. Next transfers took approximately 2 business days.

History of Wise

Wise is a company launched since January 2010. It has its head office in London and has 14 offices around the world. With more than 10 million customers worldwide today, this platform transfers more than $6 billion every month!

Historically the company was created by two Estonians who worked at Skype. As they were both working abroad, they soon encountered the problems of transferring money internationally. At the time, they transferred their money through their bank, but the process was often complicated. In addition, they regularly lost money on the exchange rates and bank charges that were applied. They then decided to remedy all this by creating a new concept!

In terms of security, by the nature of its activity, TransferWise is highly regulated. The company is accredited by the British Financial Conduct Authority. For each country where it is present, the company is registered with the competent authorities. The transfers, therefore, meet all the security and anonymity criteria allowing you to transfer your funds with confidence.

The principles of Wise

FAQ Wise

How long does a transfer take?

Is it possible to cancel a transfer?

What happens if there is an error on the beneficiary account?

Is Transferwise reliable?

How are Wise fees determined?

Is it possible to have multiple accounts?

What documents do I need to provide to open a multi-currency account?

What to do in case of fraud?

Which currencies are supported?

In which countries can you send money?

How to cancel or replace my Wise card?