Searching for the best international business account in Australia? We compare WorldFirst with Wise Business
Key takeaways
- WorldFirst lets you open a multi-currency account with zero setup fee. Wise Business charges AU$65 for the same
- Payments between World Accounts or Wise users are instant and free.
- WorldFirst offers local currency accounts in 20+ currencies; Wise Business supports 23
- Both WorldFirst and Wise offer Mastercard-powered multi-currency cards for businesses
- Wise applies an AU$6 cross-border fee on same-currency transfers routed through local bank networks in another country
WorldFirst and Wise are global payment providers that offer business accounts in Australia for making secure international transactions. But which one can support your business’s global expansion?
Let’s compare the World Account with the Wise Business account.
What is WorldFirst?
WorldFirst is an international payments provider that helps Australian businesses manage cross-border payments through the World Account, a multi-currency account. Businesses can send, receive, hold and convert funds in 20+ currencies from a single online account, with local currency account details opened under the business’s name.
The World Account supports payments in 100+ currencies to 200+ countries and regions, and collects from 130+ marketplaces and payment gateways including Amazon, eBay, Etsy, Shopify and Stripe. It’s linked to the World Card, a Mastercard-powered business payment card supporting payments in 150+ currencies.
There are no setup fees, no monthly maintenance fees and no fees for receiving payments.
What is Wise Business?
Wise Business is a multi-currency account from Wise (formerly TransferWise) that lets businesses send, receive and hold funds in multiple currencies. Wise Business launched in 2016 as the business arm of Wise, which was founded in 2011. The multi-currency account carries a one-time AU$65 setup fee to unlock local currency account details in 23 currencies along with Wise Business card access.¹
There is no monthly fee and no minimum balance requirement.
WorldFirst vs Wise Business: The fees breakdown
Take a look at the fees for both providers to compare the business accounts.
| WorldFirst | Wise Business account¹ | |
| Monthly fee | Zero | Zero |
| Opening a multi-currency account | Zero | AU$65 (one-time) |
| Receiving funds | Zero | Zero for AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY and USD (non-wire). SWIFT payments have a fixed fee, which depends on the currency. AU$6 cross-border fee applies when you receive same-currency transfers through local bank networks in another country, even if no currency conversion takes place.¹¹ |
| Holding funds in multiple currencies | Zero | Zero |
| Sending payments to other users in the same network | Free and instant to other WorldFirst users | Free and instant to other Wise users |
| Sending payments to other accounts | Domestic payments to New Zealand or Australian accounts: Zero. Cross-border payments and local payments in currencies other than NZD or AUD: 0.4%, capped at AU$15 | From 0.63% (fee varies by currency). AU$6 cross-border fee applies when you send same-currency transfers through local bank networks in another country, even if no currency conversion takes place.¹¹ |
| Converting currencies | Major currencies: Up to 0.6%. Minor currencies: From 0.67%. 1688 payments: Up to 0.8% | From 0.63% |
| Getting a business payment card | Zero for up to 20 cards | One physical card and up to 3 virtual cards at no additional cost. For more cards, existing cards must be removed or replaced⁷ |
| Payments to 1688.com suppliers | Up to 0.8% | Not supported |
Fees checked in September 2026.
WorldFirst vs Wise Business: Feature comparison
Supported currencies
Both providers offer multi-currency accounts with local receiving details in multiple currencies. With one business account, you can open several local currency accounts to send, receive and hold funds. For each account, you get an account number and local bank details.
| WorldFirst | Wise Business¹ | |
| Multi-currency account fee | Zero | AU$65 (one-time) |
| Local currency account details | 20+ currencies including AUD, USD, GBP, EUR, CNH, SGD, NZD, HKD, CAD and JPY | 23 currencies including AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY and USD |
| Currencies supported for sending | 100+ currencies | 40+ currencies |
| Countries and regions supported | 200+ countries and regions | 140+ countries |
Details checked in September 2026.
Account-to-account transfers
Transfers between World Accounts in the same currency are instant and free, with no transaction fees. Transfers between Wise accounts in the same currency are also free.
Marketplace and payment gateway integration
WorldFirst supports 130+ global marketplaces and payment gateways, including Amazon, eBay, Etsy, Shopify, Stripe and AliExpress. You can add your local currency account details directly to your marketplace seller accounts to collect payments in the customer’s local currency. If a marketplace requires proof of account ownership, you can download an account verification letter from your World Account dashboard.
Wise doesn’t publish a specific list of marketplace integrations, though the same principle applies: add your Wise local currency account details to marketplace seller accounts to receive payouts in supported currencies.⁵
Payments to China
WorldFirst offers a dedicated CNH local currency account for holding, receiving and paying in CNH. Australian businesses can pay Chinese suppliers in CNH, USD or another currency, and receive payments from Chinese counterparties in CNH.
WorldFirst is the authorised international payment provider for 1688.com, China’s leading B2B wholesale marketplace. Through World Pay, you can pay 1688 suppliers directly from your World Account CNH balance without needing a Mainland China bank account. Payments are instant and settle in CNH to the supplier.
Wise Business doesn’t offer a CNH local currency account for receiving funds. Wise supports payments to China (CNY) through a partnership with a licensed third-party payment provider, though strict eligibility requirements apply:
- Wise sending from CNY is only available for personal accounts, not business accounts
- Sending from CNY requires the sender to be a non-Mainland Chinese national with a valid Chinese tax record from the last 3 years
- Sending TO business recipients in China requires the recipient’s business account to be denominated in CNY, based in Mainland China only (Hong Kong, Taiwan and Macau business accounts are not accepted), and held with a CIPS member bank
- Per-transaction sending limits apply (33,000 CNY via UnionPay, 50,000 CNY via Alipay)
- 1688.com supplier payments are not supported through Wise
Cross-border fee: A key structural difference
Wise has introduced a cross-border fee for business clients in Australia. This fee applies in two cases:
- When you send a same-currency payment in a currency different from your base currency (for example, an Australian business sending USD to a USD account)
- When you receive a same-currency transfer through local bank networks in another country
The current cross-border fee is AU$6, and it applies even when no currency conversion takes place.¹¹ The fee doesn’t apply to same-currency transfers between Wise accounts, but SWIFT transfers carry a separate fixed fee that depends on the receiving currency.¹²
WorldFirst does not apply a cross-border fee on same-currency transfers routed through local bank networks. For Australian businesses regularly moving foreign currencies to or from overseas accounts, this can add up to a meaningful cost difference over time.
Multi-currency business payment cards
WorldFirst provides the World Card, a Mastercard-powered business payment card supporting transactions in 150+ currencies wherever Mastercard is accepted. When paying in any of the 15 supported currencies (with sufficient balance held in that currency), no foreign exchange fee applies.
World Account holders can issue up to 20 World Cards per account at zero cost, with the ability to set custom spending limits per card. Every payment made with the World Card earns cashback on eligible spending each month (Terms and Conditions Apply).
Wise Business offers a Mastercard-powered multi-currency card that supports transactions in 40+ currencies across 160+ countries.⁶ Each Wise Business account includes one physical card and up to three virtual cards at no additional cost.⁷ Additional virtual cards require removing or replacing existing ones.
Spending in a currency you already hold in your Wise Business account triggers no foreign exchange charge. Spending in a currency you don’t hold triggers a currency conversion fee starting from 0.19%. The cross-border fee does not apply to Wise Business card transactions. There are no cashback offers available on Wise Business cards in Australia.
Security and regulation
WorldFirst Pty Ltd is an Australian-registered company that holds an Australian Financial Services (AFS) Licence and is regulated by the Australian Securities and Investments Commission (ASIC). It is also a designated remittance provider registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Wise Australia is authorised by the Australian Prudential Regulation Authority (APRA) and regulated by ASIC.²
Both card products use 3D Secure for online transactions, adding a verification step to reduce card fraud.
WorldFirst, Wise Business or something else: Which is right for your business?
WorldFirst and Wise Business both let Australian businesses hold, send and receive funds across multiple currencies from a single account. The right choice depends on the currencies you use, the platforms you sell on, whether you source from China (particularly 1688.com), how many business cards you need to issue, and how the cross-border fee structure affects your typical payment flow.
Consider your currency mix, receiving and conversion costs, card availability, marketplace integrations and whether you make regular same-currency cross-border payments when evaluating your options.
FAQs
1. How much does Wise Business cost in Australia?
Wise Business has no monthly fee and no minimum balance requirement. Setting up the full multi-currency account with local currency account details and card access carries a one-time fee of AU65.¹Ongoingcostsincludesendingfeesfrom0.63%,currencyconversionfrom0.63%,afixedSWIFTfeethatvariesbycurrency,andanAU6 cross-border fee on same-currency transfers routed through local bank networks in another country.¹¹
2. Does Wise Business have monthly fees?
No. Wise Business has no monthly account fee and no minimum balance requirement. The main upfront cost is the one-time AU$65 fee to unlock the multi-currency account and card access.¹
3. What is Wise’s cross-border fee?
Wise applies a cross-border fee to business clients in Australia when a same-currency transfer is routed through local bank networks in another country, even if no currency conversion takes place. The current fee is AU$6.¹¹ It applies both to sending same-currency payments in a currency different from your base currency, and to receiving same-currency transfers through local bank networks in another country. It does not apply to same-currency transfers between Wise accounts or to SWIFT transfers, though SWIFT carries its own fixed fee that depends on the currency.¹²
4. Is Wise Business regulated in Australia?
Yes. Wise Australia is authorised by the Australian Prudential Regulation Authority (APRA) and regulated by the Australian Securities and Investments Commission (ASIC), and holds an Australian Financial Services Licence (AFSL).²
5. Does Wise Business offer a card in Australia?
Yes. Wise Business offers a Mastercard-powered multi-currency card that supports transactions in 40+ currencies wherever Mastercard is accepted.⁶ Each Wise Business account includes one physical card and up to three virtual cards at no additional cost.⁷ Additional virtual cards require removing or replacing existing ones. Cashback is not offered on Wise Business cards in Australia.
6. What is the difference between Wise Business and WorldFirst?
Both are multi-currency accounts for Australian businesses. Key differences include: WorldFirst has no setup fee (Wise charges AU65one-time);WorldFirstoffersupto20businesscardsperaccountatzerocost(Wiseoffersonephysicalanduptothreevirtual);WorldFirstsupports1688.comsupplierpaymentsthroughWorldPay(Wisedoesnot);WorldFirstdoesnotapplyacross-borderfeeonsame-currencytransfersroutedthroughlocalbanknetworks(WiseappliesAU6). Currency conversion pricing, receiving fees and supported currencies also differ. The right choice depends on your currency mix, sourcing markets and payment volume.
7. Can I use Wise Business to pay 1688 suppliers in China?
No. Wise Business does not support 1688.com supplier payments. Wise supports payments to China through a licensed third-party provider, but only for CNH-denominated business bank accounts based in Mainland China held with CIPS member banks, and only from personal Wise accounts (not business accounts). WorldFirst is the authorised international payment provider for 1688.com, letting Australian businesses pay 1688 suppliers directly in CNH from a World Account balance.
Sources
- https://wise.com/au/pricing/business
- https://wise.com/help/articles/2932693/how-is-wise-regulated-in-each-countryregion
- https://wise.com/help/articles/2663295/how-do-i-make-a-batch-payment
- https://wise.com/gb/business/app-marketplace
- https://wise.com/au/business/card
- https://wise.com/help/articles/2935762/how-do-i-order-a-wise-card
- https://wise.com/au/business/
- https://wise.com/help/articles/2571907/what-currencies-can-i-send-to-and-from
- https://wise.com/help/articles/79jNnUdgbD4IbJiUbExpqt/cross-border-fees-on-same-currency-transfers-for-your-business
- https://wise.com/help/articles/3EsxRDF4uNpQncdgH480os/fees-for-receiving-money-by-swift
Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.
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