GBP accounts in Australia: Best Options for Expats

If you travel to the UK frequently, send payments abroad, receive a salary in British pounds, or want to diversify your savings and investments, a GBP account in Australia can help. You can open a GBP account with a digital provider like the service, or with an Australian-based bank.

Account types, features and fees vary a lot depending on the product you select, with options for everyday spending, saving and business needs. This guide covers all you need to know. Add your business to our directory.

Table of contents

• What is a GBP currency account?What can you do with a GBP account in Australia?Types of GBP accounts

• What can you do with a GBP account in Australia?

• Types of GBP accounts

• Best GBP currency accounts in Australiamulti-currency accountRevolut Account Westpac GBP AccountCommbank GBP AccountAirwallex Business GBP Account

• multi-currency account

• Revolut Account

• Westpac GBP Account

• Commbank GBP Account

• Airwallex Business GBP Account

• Fees for GBP accounts in Australia

• How to open a GBP account in Australia

• How to use your GBP account in Australia

• ConclusionUseful resources:

• Useful resources:

What is a GBP currency account?

A GBP currency account is an account which lets you hold British pounds. Many GBP currency accounts also let you receive GBP payments, send money in GBP to others, or spend with a linked debit card.

Some GBP currency accounts hold British pounds only, while others are multi-currency accounts which support GBP as well as AUD and other currencies.

Open a multi-currency account to hold and exchange GBP and 40+ other currencies, and order your multi-currency debit card to spend and withdraw in 150+ countries. Accounts offer ways to send money to 140+ countries and receive payments globally in AUD, GBP and more with local or SWIFT account details.

What can you do with a GBP account in Australia?

So, why might you want a GBP account in Australia? Here are some common ways you might want to use your new British Pound account:

• Hold a balance in GBP: If you need to pay bills in British pounds, or if you’re planning a trip to the UK and want to hold GBP ready for your travel, holding a balance in pounds can be a huge help.

• Receive payments in GBP: Get paid from friends, family, clients or your employer in GBP without needing to automatically convert back to AUD if you don’t want to.

• Send payments in GBP: Use your account to send GBP payments to others, to cover an international mortgage, pay for international school fees, or send money to family for example.

• Spend and withdraw GBP: With providers like the multi-currency service you can spend with a linked card, online and in person, and also get cash in the UK for spending while you’re on your travels.

Types of GBP accounts

Here are the most common types of GBP accounts you’ll find in the Australian market:

Multi currency accounts: Multi-currency accounts support GBP as well as other currencies, providers like the multi-currency service let you hold over 40 currencies in one account. A multi-currency account allows you to convert between currencies whenever you want to. Some accounts offer ways to spend with a linked debit card, while most let you send payments in pounds and other currencies.

• multi-currency account: Hold 40+ currencies, and get local account details for receiving 8+ currencies including GBP, and SWIFT details for receiving 20+ currencies easily.

• Revolut Account: Hold 25+ currencies and get local details to receive AUD, with SWIFT details to receive GBP and other supported currencies.

• Airwallex Account: Business account supporting 20+ currencies including GBP and AUD, with ways to receive customer bank and card payments online.

Foreign currency accounts: Foreign currency accounts support only 1 currency, and may be more aimed at people who want to save or invest in a foreign currency. The foreign currency accounts on offer from Australian banks usually do not have a linked debit card, which means they’re not ideal for travel use.

• Westpac Foreign Currency Account: No minimum balance and no account keeping fee, with easy ways to see your Westpac AUD and GBP balances side by side.

• Commbank Foreign Currency Account: No ongoing fees, for an account which lets you receive GBP and hold your balance as long as you like, for future payments or until you see a good conversion rate.

Best GBP currency accounts in Australia

You can open a personal GBP currency account in Australia with a digital provider like the multi-currency service or Revolut, or a regional bank, like Westpac or Commbank. There are also business account products from providers like Airwallex, the multi-currency service or Revolut which support GBP, with business friendly features and perks.

If you choose to open a GBP account with a bank, you’ll find most products are aimed at customers who want to send payments, save and invest. It’s less common to have GBP accounts which also offer linked debit cards for day to day use.

Digital providers like the multi-currency service offer ways to hold GBP alongside many other currencies, and offer both payment services and handy debit cards for daily spending online and in person.

The right account for you will depend on your priorities, from saving and diversifying your investments, through to sending and receiving low cost payments and shopping in GBP with an international debit card.

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

We’ve got a closer look at each coming up right after the table, so you can decide if any suit your own unique needs.

💡 At a glance

multi-currency account

Hold and exchange GBP and 40+ other currencies, spend with a multi-currency debit card in 150+ countries, send and receive payments globally in AUD, 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 GBP Account

View your GBP balance alongside your AUD balance in the Westpac app, receive and send payments locally and globally.

Commbank GBP Account

No account keeping fees, with ways to get paid in GBP and convert when you see a good exchange rate.

Airwallex Account

Business account supporting GBP, 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

multi-currency account

Open a multi-currency account online or in the the multi-currency service app, for personal or business use, and hold GBP 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, GBP and more.

Accounts offer local and SWIFT details to receive payments, with no fee to receive GBP to your multi-currency account using your local account information.

• Hold and exchange GBP and 40+ other currencies

• Mid-market currency exchange with low, transparent fees

• Use your multi-currency debit 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 GBP, 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 GBP.

• 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: GBP, 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 GBP Account

You can open a Westpac GBP Account with no monthly account keeping fee, although to use your account fully you also need a Westpac AUD account which might have its own ongoing fees. You can receive payments in GBP, 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 GBP back to AUD, or use your balance to send GBP to someone else.

• No monthly fee to pay, no minimum balance

• Hold and receive GBP, 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: GBP

Monthly fees: None

Exchange rates: Exchange rates are likely to include a markup

Commbank GBP Account

The Commbank GBP 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 GBP 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 GBP 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: GBP

Monthly fees: None

Exchange rates: Exchange rates are likely to include a markup

Airwallex Business GBP Account

If you need a GBP account for business purposes, an Airwallex Business GBP 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 GBP

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 GBP accounts in Australia

The fees for GBP accounts in Australia can vary a lot depending on the account type and the provider or bank you select. Read the fee schedule carefully before you transact. Here are some fees to look out for:

• Monthly account keeping fee: A regular fee charged by some banks, usually on a monthly basis. This fee is often waived for GBP accounts, but may still apply on the AUD account you hold with the bank. Providers like the multi-currency service don’t charge an account keeping fee.

• ATM withdrawal fees: You may find that some ATM withdrawals are available with no fee from providers like the multi-currency service and Revolut, but costs can apply if you withdraw frequently. The Australian banks we’ve looked at in this guide do not offer debit cards linked to a GBP account.

• Outgoing transfer fees: Sending payments to and from GBP 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.

• 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 GBP payments.

How to open a GBP account in Australia

How to open a GBP account in Australia might vary slightly depending on the provider or bank you choose. However, the process is relatively similar across most services.

Before you start to open your account do check you meet the eligibility criteria as banks may require you to also have an AUD account before you can add in a GBP account.

To open your first account with any bank you need to assemble the information and documents required by the provider, usually your proof of ID , Tax File Number and details of any foreign tax residency you may hold. You can then make your application.

With banks: Australian banks usually offer online account opening options, and if you already have an AUD account you can add in a GBP account in the bank’s digital banking system. If you’re opening your first account with the bank you may do so online or in app if you have standard documents, but if not you might be asked to visit a branch to set up your account. In this case you need to take along your original ID documents, and have a team member talk you through the application process.

With online providers: You’ll be able to open a GBP account with online specialist providers in Australia with your phone or laptop. Enter the personal and contact information required following the prompts, and upload images of the paperwork needed according to the onscreen instructions. Verification and onboarding is all managed digitally.

How to use your GBP account in Australia

If you’re an expat in Australia, an international student, or a business owner trading in GBP, having a GBP account in Australia can help you cut costs and transact with less hassle.

Having a multi-currency account in particular can make it easier to manage your money between your home currency and AUD, as well as any other currencies you need to receive, hold, send or spend.

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

• Send international money transfers: If you need to pay bills in the UK from Australia, using a GBP account can make the transfer process simple and reduce the costs of payments for things like your UK mortgage or transfers back to family.

• Hold and exchange GBP and AUD: As an expat you may need to manage your finances across both GBP and AUD, so being able to see your balance in both side by side, and convert between them, can make it easier to keep on top of your money.

• Receive GBP payments: Use a GBP account in Australia to receive money from an employer or client in the UK, or to get paid rent from a UK property, for example. Hold your money in GBP until you need it to send to others or spend on your travels.

• Use your debit card for spending and withdrawals: For day to day use, a GBP account with a debit card lets you spend when you’re in the UK or when you’re shopping online with UK retailers, with no additional costs if you hold sufficient GBP balance to cover a payment.

Conclusion

You can open a GBP account in Australia with an Australian bank, or a digital first provider like the service, Revolut or Airwallex. Accounts have different  features and fees which makes them better suited to different customer needs.

If you want to add a GBP account to your existing bank AUD account Commbank, Westpac and other major banks in Australia can help. However, the accounts don’t come with debit cards and do have quite high transaction fees. As an alternative, if you want an all round account which lets you send, spend, receive and hold GBP with AUD and 40+ other currencies, check out the service. These services offer all the features you need for everyday transactions, no matter which currency you need to use.

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

Conclusion

You can open a GBP account in Australia with an Australian bank, or a digital first provider like the service, Revolut or Airwallex. Accounts have different  features and fees which makes them better suited to different customer needs.

If you want to add a GBP account to your existing bank AUD account Commbank, Westpac and other major banks in Australia can help. However, the accounts don’t come with debit cards and do have quite high transaction fees. As an alternative, if you want an all round account which lets you send, spend, receive and hold GBP with AUD and 40+ other currencies, check out the service. These services offer all the features you need for everyday transactions, no matter which currency you need to use.

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