EUR accounts in Australia

20 countries in Europe use euros as their official currency. If you’re in Australia, and need to send or receive EUR payments, or if you travel frequently to countries like France, Germany, Ireland or Spain, opening a EUR account in Australia can be a smart move.

EUR accounts are available for day to day use, and for saving, investing and sending payments, from digital providers like Wise, and from several Australian-based banks. This guide covers all you need to know to select the right EUR currency account based on your transaction needs.

What is a EUR currency account?

A EUR currency account is an account which lets you hold euros. 

Euro accounts are available as single currency accounts, and multi-currency accounts which let you hold EUR as well as currencies including AUD, and other major European currencies like GBP. Depending on the EUR account you pick you may be able to receive EUR payments with local account details, send money in EUR, or get a linked debit card to spend and withdraw euros conveniently.

What can you do with a EUR account in Australia?

You might benefit from a EUR account in Australia if you’re an expat, international student, frequent traveller, digital nomad, freelancer or business owner. Different accounts focus on different customer needs, to allow you to transact easily whatever your situation. 

Here are some common uses for a euro account:

• Hold and convert between EUR and other currencies: If you manage your money across euros, dollars and other currencies, a EUR account makes this simple and allows you to view all your funds in one place. 
• Receive payments in EUR: Business owners and freelancers – and anyone who receives payments in euros – could use a EUR account to receive money with local account information, for quick and cheap transfers.
• Send payments in EUR: Whether you’re sending money to a family member or paying a bill, using a EUR account can make the transfer hassle free, and may also cut the costs associated with cross border payments.
• Spend and withdraw EUR: With providers like Wise you can spend with a linked card, online and in person, and also get cash in Europe for spending while you’re on your travels.

Types of EUR accounts

EUR accounts on the Australian market usually fall into one of two categories – here are what you’ll find, alongside a quick introduction to the providers featured in this guide:

Multi currency accounts: Hold EUR and other currencies in a multi-currency account, to view your balance across all currencies and convert between them easily. Multi-currency accounts can support 40+ currencies in some cases, and products from digital first providers like Wise and Revolut also offer linked cards for convenient spending.

• Wise Account: Hold 40+ currencies, and get local account details for receiving 8+ currencies including EUR, and SWIFT details for receiving 20+ currencies easily. 
• Revolut Account: Hold 25+ currencies and get local details to receive AUD and EUR, with SWIFT details to receive other supported currencies. 
• Airwallex Account: Business account supporting 20+ currencies including EUR and AUD, with ways to receive customer bank and card payments online.

Foreign currency accounts: Foreign currency accounts are most commonly the option offered by Australian banks. These accounts support only 1 currency, and may be a convenient way to hold and send payments in a foreign currency – but have no debit card for day to day transactions. 

• Westpac Foreign Currency Account: No minimum balance and no account keeping fee, with easy ways to see your Westpac AUD and EUR balances side by side.
• Commbank Foreign Currency Account: No ongoing fees, for an account which lets you receive EUR and hold your balance as long as you like, for future payments or until you see a good conversion rate.

Best EUR currency accounts in Australia

EUR currency accounts in Australia are available for individual and business customers. Specialist providers like Wise or Revolut cater to customers looking for flexible account and card services, while banks, like Westpac or Commbank have more specialist products for sending payments or saving.

There’s no best EUR account in Australia as such – you’ll need to compare a few depending on how you expect to transact. 

If you want to send payments, save and invest, and prefer face to face service in a branch, a bank might be your best option. Or if you’re looking for an account to hold a selection of currencies for daily use, with a debit card for withdrawals and spending online and in person, a provider like Wise or Revolut may be a better fit. 

Here we’ve selected some different providers and banks offering EUR accounts in Australia for personal and business use, looking at convenience, cost and customer intention. 

Read on to learn more about each and how their EUR account in Australia works.

💡 At a glance
Wise Account	Hold and exchange EUR and 40+ other currencies, spend with a Wise card in 150+ countries, send and receive payments globally in AUD, EUR, GBP and more.
Revolut Account	Choose from 4 different account plans which all offer a debit card, and support 25+ currencies for holding and withdrawal. Travel perks available on some account tiers.
Westpac EUR Account	View your EUR balance alongside your AUD balance in the Westpac app, receive and send payments locally and globally.
Commbank EUR Account	No account keeping fees, with ways to get paid in EUR and convert when you see a good exchange rate.
Airwallex Account	Business account supporting EUR, AUD and 20+ other currencies for holding and exchange, with low conversion costs and great exchange rates.

*Details correct at time of research – 21st August 2025

Wise Account

Open a Wise Account online or in the Wise app, for personal or business use, and hold EUR alongside AUD and 40+ other currencies all in the same account. You can exchange between currencies in the app with the mid-market rate and low, transparent fees, order an optional debit card for spending and cash withdrawals, and send and receive payments globally in AUD, EUR and more. 

Accounts offer local and SWIFT details to receive payments, with no fee to receive EUR to your Wise account using your local account information.

• Hold and exchange EUR and 40+ other currencies
• Mid-market currency exchange with low, transparent fees
• Use your Wise card in 150+ countries for spending and cash withdrawals

Account opening fee: No opening fee for personal customers. Business customers pay 65 AUD for full feature access. No minimum balance

Eligibility criteria: Available to residents of Australia and many other countries and regions globally

Supported currencies: 40+ currencies, including AUD and EUR.

Monthly fees: None

Exchange rates: Mid-market exchange rates

Revolut Account 

You can open 4 different types of Revolut Account as a personal customer in Australia, with an additional 4 plan options for business customers. As a personal customer you can choose a Standard plan with no monthly fee, or upgrade to a plan with account keeping fees up to 28.99 AUD/month. 

Higher tier plans offer more no fee transactions, discounts and perks – but all accounts have a linked debit card and ways to convert in the account between 25+ currencies including AUD and EUR.

• Hold and exchange many currencies in the same account
• Select your account plan based on your transaction needs
• Personal and business services offered

Account opening fee: No opening fee, no minimum balance

Eligibility criteria: Available to residents of Australia and many other countries and regions globally

Supported currencies: EUR, AUD and 25+ other currencies 

Monthly fees: Personal customers pay 0 AUD- 28.99 AUD/month, business customers 10 AUD- 79 AUD/month

Exchange rates: Weekday currency exchange uses the Revolut rate to plan limits. After this fair usage fees of up to may 0.5% apply depending on plan. Weekend exchange may attract an extra fee up to 1%.

Westpac EUR Account

You can open a Westpac EUR Account with no monthly account keeping fee, although it’s important to note that to use your account fully you also need a Westpac AUD account which might have its own ongoing fees. You can receive payments in EUR, with a 12 AUD incoming payment fee, and see your foreign currency balance alongside your AUD balance for convenience. You can then decide when to convert your EUR back to AUD, or use your balance to send EUR to someone else.

• No monthly fee to pay, no minimum balance
• Hold and receive EUR, and send payments locally and globally
• Open online in just a few minutes

Account opening fee: None 

Eligibility criteria: Australian residents – you need a Westpac AUD account to fully use the account, including for outward transfers 

Supported currencies: EUR

Monthly fees: None

Exchange rates: Exchange rates are likely to include a markup

Commbank EUR Account

The Commbank EUR Account lets you receive, hold, and send British pounds. Commbank markets this as a tool for people who want to manage fluctuations in exchange rates. You can get paid in EUR with an incoming payment fee of up to 11 AUD, and then wait to convert your money back to AUD until you see a good exchange rate. Because you’re not forced to change to AUD immediately, you can ride out dips in the rate, and end up keeping more of your money in the end.

• No ongoing fees and no minimum balance
• Hold EUR and convert as and when you choose to
• Open in Netbank if you’re already a Commbank customer

Account opening fee: None 

Eligibility criteria: Australian residents, aged over 18, with a Commbank AUD account

Supported currencies: EUR

Monthly fees: None

Exchange rates: Exchange rates are likely to include a markup

Airwallex Business EUR Account

If you need a EUR account for business purposes, an Airwallex Business EUR Account could help you take customer payments online, with corporate debit and expense cards for business spending online and in person. 

Airwallex accounts offer great exchange rates with low fees for exchange, making this a solid choice for ecommerce businesses in particular.

• Receive, hold, send and spend 20+ currencies 
• Take customer card payments online easily
• Business features including batch payments, corporate cards, interest on your balance, and more

Account opening fee: None

Eligibility criteria: Australian business owners with eligible proof of address and ID, as well as business verification paperwork

Supported currencies: 20+ including AUD and EUR

Monthly fees: 0 AUD- 999 AUD depending on plan

Exchange rates: Interbank rates with a fee of 0.5% for major currencies and 1% for less commonly traded currencies 

Fees for EUR accounts in Australia

While getting a EUR account in Australia can bring down your overall money management costs, there are likely still to be some fees to pay. As these costs can vary a lot, and may not look like your AUD transaction account fees, you’ll need to read your account fee schedule carefully before you transact. 

Here are some fees to look out for:

• Monthly maintenance fee: Maintenance or service fees may apply to keep your EUR account, or an underlying AUD account, open. Where this fee applies you may not be able to avoid it – but providers like Wise don’t charge a maintenance fee.
• ATM withdrawal fees: Not all EUR accounts offer a card, but where they do you might pay an ATM fee for local or international use. Fees may be a flat charge or a percentage of the withdrawn amount. Providers like Wise and Revolut offer some no fee ATM use each month to help you lower your transaction costs.
• Outgoing transfer fees: Sending payments to and from EUR may incur fees, including costs added to the exchange rate used for currency conversion. Compare both the rate and the fee applied before you transact. Providers like Wise can often offer lower overall costs compared to your bank.
• Incoming transfer fees: Generally with an Australian bank you’ll pay a fee when you receive a payment to your account, which is likely to be 11 AUD – 12 AUD. This applies on AUD and EUR payments.

How to open a EUR account in Australia

Once you’re ready to open a EUR account in Australia you’ll need to take a look at the specific process used by your preferred bank or provider. Banks usually allow you to open online, but you might have to visit a branch if you don’t already have an AUD account with that specific bank. 

In pretty much all cases you need a proof of ID, as well as your Tax file Number and information about any other tax residency you may hold outside of Australia.

With banks: If you’re a new customer, you might need to visit a branch to set up your euro account and open your AUD account at the same time. If you’re adding a EUR account but already hold an AUD account with the bank you might be able to arrange your application online. In a branch you’ll be asked to present your original ID documents, or online you can upload photos of the relevant paperwork.

With online providers: Specialist providers offer a fully digital application, verification and onboarding experience. All you’ll need is your phone or laptop, and images of the documents required to support your application. Enter your personal and contact details, set a secure password and follow the onscreen instructions. 

How to use your EUR account in Australia

A EUR account in Australia can bring benefits for personal and business users, including making transacting quicker and cheaper when you need to manage conversions between AUD and EUR. If you deal with additional currencies such as GBP or NZD, a multi-currency account is a smart way to receive, hold, send or spend all the currencies you need from one account. 

Here are some ways expats commonly use their Australian-based EUR accounts:

• Send international money transfers: Expats and international students might need to send money to Europe from Australia, or vice versa, to cover bills, mortgage payments or rent for example. A EUR account makes this simple and cheap.
• Hold and exchange EUR and USD: Check your EUR and AUD balance side by side, convert between currencies when you see a great exchange rate, and build your savings in whichever currency you prefer.
• Receive EUR payments: Get paid by an employer or client in Europe, or if you’re an international student you may want to receive EUR payments from your family or student loan provider. Use the EUR details that come with your account to get your money and then hold it in EUR until you need it.

Use your debit card for spending and withdrawals: Spend in euros when you travel or when you’re shopping online, with no additional costs if you hold sufficient EUR balance to cover a payment. Or use your AUD balance in Australia if you have a multi-currency account with a provider like Wise or Revolut, to avoid conversion costs.

Conclusion

Get a EUR account in Australia from an Australian bank, or a specialist provider like Wise, Revolut or Airwallex. 

You can find EUR accounts from banks like Commbank or Westpac which are mainly useful for savings, or for making payments. 

If you want a euro account with a linked card for day to day transactions, check out Wise. Wise lets you easily send, spend, receive and hold EUR along with AUD and 40+ other currencies, all in the same account. With no minimum balance to maintain, and no monthly fee, Wise is an equally good choice for occasional use or for daily spending, depending on what you need.

Useful resources:

Revolut Personal Pricing Plans – Revolut Australian personal pricing plans and feature descriptions

Revolut Business Pricing Plans – Revolut Australian business pricing plans and feature descriptions

Westpac foreign currency accounts – Westpac foreign currency account landing page

Commbank foreign currency accounts – Commbank foreign currency account landing page

Commbank international fees – Commbank international fees covering transfers in and out of accounts Airwallex Pricing – Airwallex Australian account descriptions and pricing plans