Best Wise alternatives for Australian businesses (2026)

Key takeaways

Paying overseas suppliers, contractors, and staff can quietly drain margins when hidden exchange-rate mark-ups and thin support get in the way. Getting cross-border payments right is part of building a lean, scalable finance operation, and this guide compares the best Wise alternatives for Australian businesses on cost, features, support and safety.

What is Wise, and why do Australian businesses look for Wise alternatives?

Australian businesses look for Wise alternatives when a simple transfer tool stops keeping up with how they actually operate. Wise (formerly TransferWise) is a multi-currency account that converts money at the mid-market rate and adds a transparent conversion fee, which is why it became a popular option for international business payments. Cross-border payments are enormous in scale, with McKinsey’s Global Payments Map putting global cross-border flows at roughly US$179 trillion (approximately A$275 trillion) in 2024,³ so getting your provider right matters.

Wise Business has no monthly fee and a one-off A$65 setup fee to unlock local account details.¹ You can hold 40+ currencies and send to 70+ countries,¹⁹ and receive with local account details in 22.¹ Its conversion fee starts from 0.63%¹ and can rise to about 2%² depending on the currency route. The card is free to withdraw up to A$400 per month before a 2.69% fee applies.⁴

The catch is that the advertised “from 0.63%” is a floor, not the whole story. The ACCC has found that the exchange-rate mark-up is often hidden, and one of the least visible parts of the cost of an international transfer,⁶ so a low headline figure can still hide a wider margin on the routes you use most. Businesses are increasingly acting on this, and McKinsey reports that 23% of UK SMEs regularly use fintechs and other non-bank providers for cross-border payments, well above the 13% that do so for domestic transactions.⁵

What Wise does well, and where it falls short for businesses

Wise is genuinely good at low-cost, self-serve transfers. For lean teams that send money now and then, it is fast to set up and easy to use.

As businesses grow, three gaps tend to show up:

If those gaps sound familiar, it is worth comparing the main alternatives to wise before you scale.

How to compare Wise alternatives (what really drives cost)

Comparing Wise alternatives well means looking past the headline price. The true cost of any transfer is simple to write down: it’s the transfer or conversion fee, plus the FX margin over the mid-market rate. For most businesses the margin is the part that quietly dominates, and the ACCC notes it is also the hardest part to see.⁶ The Reserve Bank of Australia has likewise found there remains substantial scope to improve the average cost and speed of cross-border payments for Australian customers.⁷

That matters because the big-four banks are rarely the cheapest option for common-currency transfers,⁶ and the ACCC estimates Australians still miss out on over A$200 million a year in potential savings on international money transfers.⁸ A clear, like-for-like comparison is where the savings come from.

When you weigh up the best international payments providers in Australia, compare on:

Judge each provider on your own most-used currency corridors, because that is where the margin on your international business payments adds up.

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OFX Global Business Account

Receive, hold, convert and send funds across a wide range of currencies, reduce costs and gain greater control over your international payments.

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The best Wise alternatives for Australian businesses at a glance

Here is a shortlist of Wise competitors that suit Australian businesses, each with a one-line best-fit, followed by a side-by-side table. Wise sits in the table as the baseline you are comparing against.

Provider	Monthly fee	FX and transfer costs	Local account currencies	Corporate Cards	Finance automation	Support	Best for
OFX	A$0 (Standard); A$75/month (Full Suite, incl. 5 users, +A$10/user)9	Competitive exchange rates; transparent, published pricing	AUD, USD, CAD, GBP, EUR (holds 30+)10	Visa Business Debit Cards10	AP automation, spend and expense management, approval workflows (Full Suite)10	24/7 human phone support10	Regular or larger transfers and FX risk
Wise	A$0 (A$65 one-off setup)1	Conversion from 0.63%1up to about 2%2by route; ATM free to A$400/month then 2.69%4	Local details in 221 (holds 40+)19	Debit card	Limited	Help centre, chat, phone	Occasional, simple transfers
Airwallex	Explore A$29 (or A$0 on thresholds); Grow A$99; Accelerate from A$99911	0.5% major / 1% other; local transfers A$0, SWIFT A$10 (SHA) or A$30 (OUR)11	Holds 20+12	Cards, (up to 10 free on Explore)12	Spend and expense management	Online and email	Tech-forward scale-ups
Revolut Business	Basic A$15; Grow A$30; Scale A$150; Enterprise A$1,25013	Free to a monthly allowance, then 0.6% (1% out-of-hours); send A$10, SWIFT A$3514	Holds 25+15	Cards (ATM fee 2%)14	Expense management	In-app support	App-led all-in-one
WorldFirst	A$016	Up to 0.6% on major currencies (minor higher); other payments from 0.4%, capped at A$1516	Holds 20+16	World Card17	Limited	Phone and online	Marketplace and e-commerce sellers
Payoneer	Varies	Pricing varies, so check the provider’s site	Varies	Card available	Limited	Online support	Freelancer and marketplace collections

The top Wise alternatives compared

Below is a closer look at each alternative provider, including where it fits and where it does not. This is also where the Wise vs OFX and Wise vs Airwallex questions get answered in detail.

OFX

OFX is a global money transfer and currency exchange provider built for businesses that move money regularly. It is one of the more complete Wise business alternatives because it combines competitive exchange rates, FX risk management and human support in one platform. Pricing is transparent and published, with competitive exchange rates.

The OFX Global Business Account holds 30+ currencies across 170+ countries, with local account details in AUD, USD, CAD, GBP, and EUR¹⁰ so you can get paid like a local. There is no minimum balance. Payments run on local rails as well as SWIFT, which helps your suppliers get paid faster and you’re not hit with unexpected intermediary fees. The Standard plan is A$0, and the Full Suite plan is A$75 per month including 5 users, with each additional user at A$10 per month, backed by a 30-day free trial.⁹

On the Full Suite plan, OFX brings AI-powered expense management, spend management, Accounts Payable (AP) automation, and approval workflows and budgeting (Control Hub) into the same platform,¹⁰ so finance teams cut manual work while they manage FX. Pay by Card lets businesses earn reward points on eligible AMEX, Visa or Mastercard rewards credit cards for supplier and expense payments, even when the supplier does not usually accept cards. OFX does not guarantee points accrual; this depends on the card issuer’s rewards program terms. OFX Corporate Cards are Visa Business Debit Cards.

Pros:

Cons:

Best for: businesses making regular or larger cross-border payments, managing FX risk, and those wanting human support plus finance automation in one place.

Airwallex

Airwallex is an all-in-one business account with payments, cards, and expense tools. In the Wise vs Airwallex comparison, the main difference is the pricing model: Airwallex uses tiered subscriptions with Explore at A$29 per month (or A$0 when balance or deposit thresholds are met), Grow at A$99, and Accelerate from A$999. Its FX margin is 0.5% on major currencies and 1% on others, with local transfers at A$0 and SWIFT payments at A$10 (SHA) or A$30 (OUR).¹¹

It holds 20+ currencies with local payouts to 120+ countries, offers cards with no international fee (up to 10 free on Explore, extra spend users at A$15 per month), and includes spend and expense management.¹² Airwallex markets a large headline FX saving versus banks, which is worth reading as a marketing claim rather than a guaranteed result.

Best for: tech-forward scale-ups that want payments, cards and accounts in one platform.

Revolut Business

Revolut Business is an app-led account with multi-currency features, cards, and expense tools. Plans are Basic at A$15 per month, Grow at A$30, Scale at A$150 and Enterprise at A$1,250.¹³ FX is free up to a monthly allowance and then 0.6%, with a 1% out-of-hours surcharge, while an international send is A$10 and a SWIFT (OUR) payment is A$35.¹⁴

It holds and exchanges 25+ currencies with card spend in 150+,¹⁵ and eligible AUD deposits are covered by the Financial Claims Scheme up to A$250,000.¹⁴ Watch the extras: the ATM fee is 2% and an additional non-metal card is A$9.99.¹⁴

Best for: teams that want an app-led account with FCS-protected AUD.

WorldFirst

WorldFirst (the World Account) targets online sellers and marketplace businesses. The account is A$0 with no monthly, setup, or ongoing fees. FX runs up to 0.6% on major currencies, with minor currencies priced higher, and “other payments” start from 0.4% capped at A$15. It holds 20+ currencies and pays 90+ currencies to 200+ countries,¹⁶ and the World Card offers 1% cashback with a A$20 one-off physical card fee.¹⁷

Best for: e-commerce and marketplace sellers receiving international revenue.

Payoneer

Payoneer is popular with freelancers and marketplace sellers who collect from global platforms. There is no authoritative Australian pricing to quote here, so pricing varies and it is best to check the provider’s site for current figures before you commit.

Best for: freelancer and marketplace collections.

Others to consider for occasional or remittance-style use include Remitly, Western Union and XE.

OFX vs Wise: how they compare for business

Both OFX and Wise help Australian businesses move money across borders, so the Wise vs OFX choice comes down to how often and how much you send. Wise suits simple, occasional transfers. OFX suits businesses that need FX-risk tools, human support and finance automation as they scale.

Feature	OFX	Wise
Monthly fee	A$0 (Standard); A$75/month (Full Suite)9	A$0 (A$65 one-off setup)1
Fees and FX	Competitive exchange rates; transparent, published pricing	Conversion from 0.63%1up to about 2%2by route
Local accounts	AUD, USD, CAD, GBP, EUR (holds 30+)10	Local details in 221(holds 40+19)
Settlement rails	Local rails and SWIFT	Local rails and SWIFT
Support	24/7 human phone support10	Help centre, chat, and phone support
FX-risk tools	Spot Transfers, Forward Contracts, Limit Orders10	None
Finance automation and spend control	AP automation, spend and expense management, approval workflows (Full Suite)10	Lighter, self-serve automation

Wise is fine when you send small, simple amounts and want a self-serve tool. OFX wins when you make larger or regular payments, need to manage FX risk, want to talk to a real person, or want to consolidate payments and automation in one platform.

Why OFX stands out for business

OFX is built for businesses that move money regularly and want more than a basic transfer tool, which is what makes it a strong choice among the best international payment and multi-currency providers in Australia for B2B use.

Best for:

OFX combines competitive exchange rates with local account details in AUD, USD, CAD, GBP and EUR,¹⁰ local rails, no minimum balance, and 24/7 human phone support. On Full Suite, AI-powered expense management, spend management, AP automation, and approval workflows and budgeting (Control Hub) come built in, and Pay by Card lets you earn reward points on eligible AMEX, Visa or Mastercard rewards credit cards for supplier and expense payments (OFX does not guarantee points accrual; this depends on the card issuer’s rewards program terms). Few Wise alternatives combine competitive rates, human support and finance automation like this.

Frequently asked questions about Wise alternatives

Looking for an alternative to Wise?

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References

*If you book a Forward Contract, it may mean losing out if the market rate improves because you’re contracted to settle at the agreed rate. Read more. Forward Contracts are not available for clients in Singapore. NZForex issues derivatives to wholesale clients only. Retail clients are not permitted or eligible to enter into any forward contract.

^If you book a Limit Order, it may mean losing out if the Market Rate continues to move above your Target Rate. There is no guarantee that your desired rate will be reached. Once the order is triggered, the transfer is binding and cannot be voided.

In Australia, OFX is registered as a financial service provider and regulated by ASIC (AFS Licence number 226 484).¹⁸ OFX is not a bank, and so you are not protected by the Financial Claims Scheme when you send money with OFX. That safety sits alongside advanced transaction monitoring, OFX Specialists, regulation by 50+ regulators globally, and a risk-averse payout model where funds are not paid out before they are received.
Learn more about how OFX keeps your money and information secure.

The contents of this article are general information only and do not constitute financial advice. Consider your own objectives, financial situation and needs before acting.