Two providers can both say “free” and cost wildly different amounts. The difference hides in the exchange rate and the withdrawal terms, not the advertised fee.
The fee that isn’t shown: FX margin
When a wallet converts currency, it usually adds a margin to the exchange rate. That margin is the real cost, and it ranges from around half a percent on Wise to near four percent on PayPal. On a A$2,000 transfer that’s the difference between roughly A$10 and A$80.
Withdrawal timing
“Instant” inside a wallet doesn’t mean instant to your bank. Many wallets settle between users immediately but take one to three business days, and sometimes a flat fee, to reach an Australian bank account. Read the withdrawal terms, not the in-wallet speed.
Where domestic is genuinely free
Australia’s own rails — PayID, Osko and BPAY — are free to consumers and stay in Australian dollars, so there is no FX margin at all. For moving money between Australians, nothing a wallet offers beats them.
See it side by side
Our comparison table lines every method up against the same attributes, including FX margin and withdrawal speed, so you can read the trade-offs at a glance.
General information about payment methods available in Australia. Not financial advice. Fees, limits and features change — verify current terms with the provider before acting.