How to receive money from overseas using Wise: A Complete Guide – 2026
Receiving an international payment in Australia can often be a slow and expensive process, especially when banks apply high fees and exchange rate markups. Whether you are getting paid by a client overseas, receiving a gift from family, or moving your own savings between countries, you need a method that is both secure and cost-effective.
This guide explores how to receive money from overseas using Wise in 2026. We’ll walk through the different ways you can get paid, from having funds sent directly to your existing bank account to using a Wise account to hold and manage multiple currencies. By the end of this article, you’ll know exactly how to use Wise to ensure more of your money makes it into your pocket.
Quick summary: Receiving money with Wise
- Flexible receiving options: Choose between holding money in a multi-currency Wise account or receiving it directly into your existing Australian bank account.
- Local details for 8+ currencies: Get local account details to receive domestic payments fee-free in major currencies such as AUD, USD, GBP and EUR.
- Mid-market exchange rate: Every currency conversion uses the mid-market rate, ensuring you avoid the hidden markups often applied by banks.
- Transparent international fees: Receive funds from over 20 currencies by Swift transfer with international account details for a clear, flat fee.
- Fast delivery times: Experience high-speed transfers where over 60% of transfers are instant (completed under 20 seconds), and over 80% are delivered in less than 1 hour.*
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
What is Wise?
Wise is a financial technology company which specialises in international payments and multi-currency accounts for individual and business customers.
You can use Wise (formerly TransferWise) to send a one off or recurring payment to 140+ countries with the mid-market exchange rate and low, transparent fees – or choose to open a Wise multi-currency account to hold and exchange 40+ currencies all in the same place. Wise accounts offer a broad range of features to suit anyone living an international lifestyle, including an international debit card and local account details to receive 8+ currencies.
How to use Wise
There’s a lot you can do with a Wise Account. This guide will focus on how to use Wise to receive international payments. But first, a quick step by step to setting up a Wise account.
Here’s how to open a Wise Account:
- Download the Wise app or head to the Wise desktop site
- Tap register
- Create an account using your email, Apple ID, Google ID or Facebook details
- Add your personal information, following the onscreen prompts
- Get verified
- Top up your account, order an international debit card or set up your first transfer
- You’re ready to go
Claim your Wise promo code here
Once you have your Wise account all set up and verified you’ll be able to arrange international payments, or add and convert funds in your Wise multi-currency account. Wise multi-currency accounts also allow customers to send and receive international payments, and spend using a linked Wise debit card.
Here’s a rundown of the key features you’ll get with Wise:
- Send money transfers from your Wise account or another bank account using the Wise app, to 140+ countries
- Order a Wise debit card, make in-store and online purchases in 150+ countries, create virtual cards for free
- Receive money into your Wise account, by sharing your local account details with the sender and get paid conveniently in 8+ currencies
- Hold and exchange 40+ currencies in your Wise account using mid-market exchange rates
- Open a business account to send, receive and exchange 40+ currencies
We’ll cover how to receive money with Wise in full detail, in just a moment.
How do I get verified?
Wise is a regulated financial institution, so it needs to know who is using the service to keep everyone’s money safe. For a personal account, you will usually just need to upload a clear photo of a government-issued ID, like your passport or driving licence. Sometimes, you might also need to provide proof of address, such as a recent utility bill or bank statement, though if you are sending a smaller amount, Wise can often verify your identity automatically through your first bank transfer.
If you are setting up a Wise business account, the process stays entirely online but involves a few extra details about your company and its stakeholders. You’ll typically need to fund your first transfer to start the review, which usually takes a few days but can take up to 10 working days if the team needs to check specific documents. To get through the process quickly, it helps to have these items handy:
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- Registration documents: Your certificate of incorporation or an official registry excerpt.
- Address proof: A recent bank statement or lease agreement for your trading address.
- Ownership info: A shareholder register showing anyone who owns 25% or more of the business.
- Permission: A letter of authorisation if you aren’t a company director.
How to receive money from overseas with Wise
Receiving an international transfer doesn’t have to be a complicated or expensive process. With Wise, you have two paths to get paid from abroad, depending on whether you want to manage the foreign currency yourself or simply have the money land in your existing bank account.
Option 1: Receive into your Wise account This is the most flexible choice for those who want to hold or convert their money. You can open unique account details for 8+ currencies (such as USD, GBP, or EUR) and share them with the sender. They pay you via a local transfer in their own currency, just as if you lived in their country.
Option 2: Receive directly to your bank account If you prefer not to open a Wise account yourself, the sender can use Wise to transfer funds directly to your current Australian bank account. You simply provide them with your standard BSB and account number, and the money arrives in AUD.
Option 1 — Receive money to your Wise account
Opening a Wise account allows you to get local account details for 8+ currencies, including USD, GBP, and EUR. This lets you get paid like a local; for example, a friend in the US can send you Dollars via ACH directly to your account.
If your registered address is in Australia, it is important to note that you can only receive domestic AUD transfers from within Australia. You cannot receive international Swift payments directly into your AUD balance. To get paid from abroad, simply receive the funds in a supported foreign currency and convert them to AUD later within the app using the mid-market exchange rate.
How to get your Wise account details
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- Log in to the Wise app or desktop site.
- Select the currency you want to receive from the home screen.
- Tap “Get account details” to view your unique information.
- Copy the details, such as the BSB and Account Number, and share them with the sender.
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What details does the sender need?
To receive a payment to a Wise account, you’ll need to give the sender your Wise local currency account details, including:
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- Your name as it appears on your Wise account
- Your Wise account number and details, for the currency you’re receiving
- Depending on the specific payment you may also need to give extra information, like a reason for the payment
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Writer’s tip: Receiving money from overseas with Wise
If you are an Australian resident, remember that your AUD account details are strictly for domestic transfers within Australia.
To get around this, simply share your USD or GBP international account details with the sender instead. Once the funds arrive in your Wise account, you can convert them to AUD instantly using the mid-market exchange rate.
Receiving fees and limits with Wise
Understanding Wise costs ensures you can choose the most efficient method for your needs. Wise fees are transparent and easy to understand; for many of the 8+ supported currencies, you can give the sender your local account details to receive money for free. Because the sender is making a local transfer, it is often the cheapest option for them as well.
If you are topping up your Wise account yourself, you can often do so fee-free using a bank transfer. While some currencies or faster payment methods may carry a small top-up fee, you can always see your options and exact costs using the calculator tools on the Wise app or desktop site.
Fees and processing speeds by currency
The table below outlines the general costs and speeds for receiving the most common currencies into your Wise account.
| Currency | Domestic Fee | Swift Fee | Limits | Speed |
|---|---|---|---|---|
| AUD | Free | Not available | No limits | Minutes to 2 working days |
| USD | Free (ACH) / 6.11 USD (Wire) | 6.11 USD | No limits | Minutes to 6 working days |
| GBP | Free | 2.16 GBP | No limits | Seconds to 2 working days |
| NZD | Free | Not available | No limits | Seconds to 2 working days |
| EUR | Free (SEPA) | 2.39 EUR | No limits | Seconds to 2 working days |
*Information correct at time of writing – 11th May 2026
What currencies can you receive with Wise?
With a Wise account, you can receive money in over 20 different currencies. For the most common ones, Wise provides you with local account details that allow you to receive domestic payments for free. For everything else, you can use the international Swift network.
Currencies you can receive for free (Domestic)
Getting paid with local account detailsl is both fast and cost-effective, as the sender simply makes a domestic transfer in their own currency. By using specific account details like a BSB or Sort Code, the transaction is handled just as if you lived in the same country as the person paying you.
Wise provides local account details for 8+ major currencies, allowing you to receive domestic payments in the following currencies without any receiving fees:
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- Australian Dollars (AUD) – Domestic transfers only
- British Pounds (GBP)
- Euros (EUR)
- US Dollars (USD) – Free via ACH (Wire transfers have a fee)
- New Zealand Dollars (NZD)
- Canadian Dollars (CAD)
- Singapore Dollars (SGD)
- Hungarian Forint (HUF)
- Philippine Peso (PHP) – Only available for personal accounts
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Currencies you can receive via Swift (International)
Payments sent via the Swift network expand your reach, allowing you to receive 20+ currencies from a wide range of locations or in currencies that do not offer local details. Wise applies a transparent, flat fee to process these international transfers, ensuring you know the exact cost of receiving funds from abroad.
| Currency | Swift Fee | Currency | Swift Fee |
|---|---|---|---|
| AUD | 6.24 AUD* | JPY | 611 JPY |
| USD | 6.11 USD | HKD | 30.80 HKD |
| GBP | 2.16 GBP | CHF | 3.55 CHF |
| EUR | 2.39 EUR | CAD | 6.16 CAD |
| NZD | 6.89 NZD | HUF | 1,550 HUF |
| SGD | 5.34 SGD | PLN | 16.20 PLN |
| CZK | 95.30 CZK | RON | 18.80 RON |
| CNY | 28.70 CNY | DKK | 28.20 DKK |
| ZAR | 72.60 ZAR | NOK | 44.40 NOK |
| AED | 14.50 AED | SEK | 43.50 SEK |
| ILS | 14.40 ILS | UGX | 14,500 UGX |
*Swift payments in AUD only. Information correct at time of writing – 11th May 2026
Additional information for receiving money with Wise
Wise IBAN number
IBAN is an account format used by European banks. Australian banks do not use this format and an IBAN is not required to send money to an Australian bank account via Wise. Other parties with an IBAN field on their overseas payment form can simply leave this field blank. If you’re receiving money from Europe using Wise, you may need an IBAN. Wise will provide this for you.
Wise routing number
Depending on the currency you’re receiving to your Wise account, the sender may request a National Clearing Code, Routing Number, BSB Number or Sort Code. In this case you can simply get the Wise account details for the currency you’re receiving from the app – following the steps set out above – and you’ll find all you need.
Option 2 — Receive money to your bank account
You do not need a Wise account to receive a money transfer sent via Wise. If you prefer, you can simply have the money delivered straight to your existing Australian bank account.
Because Wise uses local banking networks, the funds usually arrive as a domestic transfer. Over 60% of transfers are instant (completed under 20 seconds), and 80%+ are delivered in less than 1 hour.*
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
What details do I need to give the sender?
To ensure the money reaches you safely, you will need to give the sender the following details:
- Your full legal name: This must match the name on your bank account.
- BSB number: The 6-digit code that identifies your bank and branch.
- Account number: Your unique 5 to 9-digit account number.
How much does it cost to receive money into my bank account?
While Wise does not charge you a fee to receive money into your bank account, your bank may apply its own charges. To check if this will apply you’ll need to take a look at your specific account’s terms and conditions document.
Read also: Receive money from overseas to Australia
Wise vs bank fees for receiving money in Australia
When you receive money from abroad, there are two main costs to consider: the receiving fee and the exchange rate margin. Most banks charge a fixed fee for processing incoming international transfers, and they typically add a percentage-based margin to the exchange rate.
The table below provides a snapshot of the standard receiving fees for some of Australia’s major banks compared to Wise.
| Provider | Fee to receive AUD | Exchange rate used |
|---|---|---|
| Wise | No fee | Mid-market exchange |
| CommBank | Up to 11.00 AUD | Exchange rate includes a markup |
| Westpac | 12.00 AUD | Exchange rate includes a markup |
*Information correct at time of writing – 11th May 2026
You can see how this compares to other methods in our guide on Wise vs international bank transfers.
Understanding the difference in exchange rates
The cost of an international transfer often extends beyond the upfront fee, as the exchange rate applied by a provider significantly impacts the final amount you receive. While many banks use a retail exchange rate that includes a built-in margin or markup as an additional cost, Wise uses the mid-market rate – the same one you see on Google or independent currency conversion calculators -without adding any hidden markups.
Intermediary bank fees
Regardless of which provider you choose, payments sent via the Swift network may pass through intermediary or correspondent banks. These banks act as middlemen when there is no direct link between the sending and receiving institutions. Because they often deduct their own processing fees from the total amount before it reaches your account, the final sum you receive may be slightly less than what was originally sent.
How to set up a Wise business account to receive money
Setting up your business account is very similar to opening a personal Wise account, though you’ll need to have some extra paperwork ready to verify your company. Most of the time, the verification team will ask for your business registration, industry type and details about directors or shareholders. Once everything is confirmed, you can activate your unique account details and get paid in the currency you need.
A Wise Business account gives you the same perks as a personal account, including local details for 8+ major currencies, but adds professional tools like batch payments and accounting platforms, like Xero, that make running a business much smoother.
Receiving money into your business account
Getting paid is simple. Just give the sender your Wise account details for the currency you’ll receive money in, which you can find on the Wise app, and wait for the payment to be deposited. The process to get your account details is the same as for a personal Wise account. All you need to do is:
- Log into your business account on the Wise app or desktop site
- Select the currency balance you need under the “Home” tab
- Tap Get account details, then copy the account information for the currency you’re receiving
- Send these account details to the person making the payment, to receive funds into Wise
Pros and cons of receiving money with Wise
Whether you choose to hold funds in the Wise app or have them sent straight to your existing bank, each path has its own set of benefits and considerations.
| Receiving Method | Pros | Cons |
|---|---|---|
| Wise Account | ✅ Receive 8+ currencies with local account details fee-free
✅Uses the mid-market exchange rate for conversions with low, transparent fees ✅ Instant notifications once the money arrive into your account ✅ 60%+ of transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour* |
❌ 6.11 USD fee for receiving USD via wire transfer
❌ Small fees may apply if you top up your own balance, depending on the currency and payment method ❌ Requires a Wise account to hold or spend multiple currencies |
| Bank Account | ✅ No need to sign up for a Wise account to receive funds
✅ Money is delivered directly to your everyday Australian bank account ✅ Payments can be sent to 140+ countries and 40+ currencies ✅Sender uses the mid-market rate, which often results in more money for you |
❌ Your bank may charge a receiving fee
❌ The sender pays a transfer fee that depends on their payment method ❌ You cannot hold different currencies – they are converted to AUD upon arrival |
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
FAQ: How do I receive money internationally from Wise?
How much does it cost to open a Wise account?
There’s no fee to open a Wise personal account. If you’re opening a Wise business account you’ll pay a one time low fee to get full account features. Wise personal and business accounts have no ongoing fees and no minimum balance requirements.
How long does it take to receive money with Wise?
Wise transfers are often fast. Over 60% of transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour.* Ultimately how long your Wise payment takes will depend on the transfer currency and value, and how the person sending it chooses to pay.
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
What currencies can I receive with Wise account details?
With Wise, you can receive 8+ currencies with local account details, including AUD, USD, GBP, EUR, and NZD, and 20+ currencies via the Swift network for locations where local details aren’t available.
Is there a limit on how much I can receive?
For most currencies and regions, there are no limits on the amount you can receive or hold in your Wise account. Some specific currencies, like USD, may have very high transaction limits (often starting at $20 million), though larger transfers might occasionally require a quick verification check for security.
What is a BSB code?
A BSB (Bank-State-Branch) is a six-digit number used to identify a specific bank and branch within Australia. You will need to provide this code alongside your account number to receive any domestic AUD transfer safely.
Useful resources
- Wise Help Centre: Fees for holding, receiving, and spending money – Official breakdown of domestic and international receiving costs.
- Wise Pricing Page: Business Fees & Pricing – A transparent look at the one-time setup fee and feature costs for Australian business accounts.
- CommBank Official Site: Receiving money from overseas – Current fee structures and instructions for incoming international transfers.
- Westpac Official Site: International Money Transfer & Fees – Details on international money transfers, including fees and required details.
- Wise Official Australia Site: Information on supported currencies and account details available for Australian users.
- Wise Help Centre: Supported currencies and account details – Information on currencies customers can add, keep and receive in a Wise account
