Can I have a foreign currency account in Australia?
Yes, you can usually have a foreign current account at Australian banks. Please note that in small banks the list of currencies in which you can open a transaction account may be small and limited to the main currencies (usd, euro).
Can I convert foreign currency at Australia Post?
Yes, you can typically convert foreign currency into Australian dollars or vice versa at select Australia Post locations.
Which Australian bank offers multi-currency accounts?
Several Australian banks and financial organizations offer global currency accounts to cater to customers who frequently deal with foreign currencies: Citibank Australia, HSBC Australia, Macquarie Bank, Wise, and Westpac.
Our analysts analyzed multi-currency accounts for private clients and selected offers on this page with the largest number of currencies in the list and favourable rates.
You can also place free funds on a savings account.
Calculate your future income on a savings account (example):
| Amount, $ | Rate, % | Accrued %, $ |
| 25,000 | 3.00% | 750 |
| 25,000 | 3.05% | 763 |
| 25,000 | 3.10% | 775 |
| 60,000 | 3.15% | 1,890 |
| 60,000 | 3.20% | 1,920 |
| 60,000 | 3.25% | 1,950 |
| 120,000 | 3.30% | 3,960 |
| 120,000 | 3.35% | 4,020 |
| 120,000 | 3.40% | 4,080 |
| 240,000 | 3.45% | 8,280 |
| 240,000 | 3.50% | 8,400 |
| 240,000 | 3.55% | 8,520 |
You can also get more detailed calculations by using our financial calculators.
How do I trade currency in Australia?
To trade Forex, you can apply to:
- Forex Brokers (Pepperstone, IG, CMC Markets, and Plus500)
- Online Trading Platforms
- Banks
- Currency Futures
- Currency ETFs
When choosing the company, consider tariffs, leverage offered by brokers, and regulatory oversight when choosing a trading platform or broker.
You can also be interested in popular FAQ on similar banking products:
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- Bank of Melbourne - Google Pay
- Bank of Melbourne - Samsung Pay
- Bank of Melbourne ATM withdrawal limit
- Bank of Melbourne BPAY service, how to use
Details of companies offering the financial services:
CommBank
Head office’s address: 201 Sussex Street
Contact center: 13-22-21
Phone: 61-2-8055-4001
Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street
Web-site: https://www.commbank.com.au/
Swift code: CTBAAU2S
Stock code: CBA
ABN: 48 123 123 124
HSBC Bank
Head office’s address: 00 Barangaroo Ave
Contact center: 1-300-555-727
Phone: 1-3-4313-7690
Mail address: Level 36 Tower 1 International Towers Sydney 100 Barangaroo Ave, Sydney, New South Wales, 2000
Web-site: http://www.hsbc.com.au
Financial institution code: HBA
ABN: 48 006 434 162
Westpac Bank
Head office’s address: 275 Kent Street
Contact center: 13-20-32
Phone: 61-2-9155-7700
Mail address: 275 Kent Street, Sydney, NSW
Web-site: https://www.westpac.com.au/
Swift code: WPACAU2S
Financial institution code: WBC
Stock code: WBC
ABN: 33 007 457 141
BSB: 032-063