Side-by-side
Every e-wallet, compared
E-wallets, AU instant payments and mobile wallets compared on regulation, AUD support, speed, fees and protection.
Last updated 3 July 2026Every e-wallet, compared
Seven online wallets Australians actually use, measured on the things that change the cost and safety of moving your money.
Regulation
AFSL · ASIC
AFSL · ASIC
AFSL · ASIC
AUSTRAC
AUSTRAC
AUSTRAC
AUSTRAC
AUD balance
Yes
Yes
Yes
Yes, not primary
Yes
Yes
Yes
In-network speed
Instant
Instant
Instant
Instant
Instant
Instant
Instant
Send to AU bank
1–3 days
Fast
Fast
Fee, slow
Fee, slow
Varies
Fast
FX margin (typical)
~3–4%
~0.5%
0.5–1%
~3.99%
~3.99%
Tiered
~3%
Consumer fees
Free (AU)
From A$0
Free tier
Withdrawal
Withdrawal
Account
Withdrawal
Buyer protection
Strong
None
Some
None
None
None
None
Best for
Online checkout
Sending abroad
Daily spending
Platform deposits
Platform deposits
Cross-border
An AUD wallet
Strong / well-regulated Caution / limited A$Figures in AUD
How to read this
Wise and Revolut win on the cost of moving money, with FX margins near half a percent where PayPal’s sits closer to four. PayPal earns its fee back only when you need buyer protection on a risky purchase. Skrill and Neteller charge high FX margins and fees to withdraw, so they make sense mainly when a specific platform you use lists them and little else does.
AU instant payments, compared
The domestic rails — all free and AUD-only, but built for different jobs. The differences are in speed, reach and what each one is meant to pay.
Settlement speed
Instant
Instant
Same-day
Instant
Near-instant
Available 24/7
Yes
Yes
Yes
Yes
Yes
Consumer fee
A$0.00
A$0.00
A$0.00
A$0.00
A$0.00
Pay a person
Yes
Yes
—
Via biz
Yes
Pay a bill
Yes
Yes
Yes
Yes
—
Name check
Yes
Sometimes
—
Yes
Yes
Recurring/auto
—
—
Manual
Yes
—
Underlying rails
NPP
NPP
BPAY
NPP
eftpos
Bank coverage
~Universal
~Universal
Wide
Growing
Most banks
Best for
Paying people
Fast transfers
Bills
Subscriptions
Splitting
Strong / well-regulated Caution / limited A$Figures in AUD
How to read this
These don’t really compete — they cover different jobs on the same national infrastructure. PayID and Osko are the fast, free default for paying a person; BPAY is purpose-built for bills; PayTo is the modern, revocable replacement for direct debit; and Beem layers a social P2P app on the eftpos rails. None offer reversibility, so the name check matters.
Mobile wallets, compared
Tap-to-pay services are nearly identical at the checkout. The real differences are device support and how widely Australian banks back them.
Devices
iPhone / Watch
Android
Galaxy only
Tokenised cards
Yes
Yes
Yes
AU bank support
Wide
Wide
Good
In-store tap
Yes
Yes
Yes
Online checkout
Yes
Yes
Some
Transit (myki/Opal)
Some
Yes
Some
Wallet fee
A$0.00
A$0.00
A$0.00
Best for
iPhone users
Android users
Galaxy users
Strong / well-regulated Caution / limited A$Figures in AUD
How to read this
At the terminal these all do the same thing — tokenised, contactless and free, with your real card number never reaching the merchant. Choose by the device you carry. Apple Pay and Google Wallet have the widest Australian bank support; Samsung Pay matches them functionally but only on eligible Galaxy hardware.