AU · AUD

Australia digital banks

Australia’s digital-bank wave was real and then it thinned out. Up remains the consumer standout. Revolut holds an Australian credit licence and an ADI path that you must verify per product. Archa is a business credit-card and spend platform, not a deposit-taking bank — no personal guarantee is the pitch, Mastercard is the rail. Spriggy is the kids prepaid leader. Airwallex (Singapore-headquartered) is the cross-border business account many Australian companies actually use. Hay, Douugh, and Volt-era brands show up in older directories; several are gone or absorbed. This page only lists what is operating in 2026, with the licence type on the card.

17Live on the desk

Regulator

APRA (ADI licence) and ASIC

Deposit scheme

Financial Claims Scheme covers deposits at ADIs up to $250,000 per account holder per ADI

In this market

Licence still sits on the product

Product	Score	HQ	Monthly	FX	Users	Licence
Interactive Brokers	8.6	Greenwich, United States	No inactivity on many accounts	Institutional-grade FX; a reason people open it	3.3M accounts	Broker-dealer / FCM
Wise	8.6	London, United Kingdom	Free personal	Mid-market plus a transparent conversion fee — the category benchmark	16M+	EMI (personal)
Revolut	8.6	London, United Kingdom	Free	Fair-usage weekday mid-market; weekend markup on Standard	50M+	UK bank (eligible customers)
Airwallex	8.3	Singapore, Singapore	Account often free	Transparent conversion + payment fees; typically beats banks	150k businesses	Payments / EMI-class licences by market
Kraken	7.9	San Francisco, United States	Maker-taker	Tight on majors vs retail Coinbase	13M+	US MSB + exchange
Up	7.9	Melbourne, Australia	Free	International spend fees apply (not a travel specialist)	1M+	ADI via Bendigo and Adelaide Bank
Aspire	7.7	Singapore, Singapore	Free starter	Competitive on SEA corridors	25k businesses	Payments with partner banks
Exodus	7.6	Omaha, United States	Free wallet	Swap partner spread	4M+	See review
Binance	7.6	Global / remote, United Arab Emirates	VIP fee tiers	Spot/futures fees; tight on liquid pairs	200M+	VASP / exchange licences by country
RedotPay	7.5	Hong Kong, Hong Kong	Free virtual	Stablecoin to fiat conversion + scheme FX	2M+	Card programme + VASP stack
Coinbase	7.5	San Francisco, United States	Free to hold	Spread on the retail app; Advanced is tighter	100M+	MSB + state money transmitter / trust
eToro	7.4	Tel Aviv / London, United Kingdom	No monthly	Conversion on non-USD deposits	35M+	Broker
Spriggy	7.2	Sydney, Australia	Subscription per parent plan	Not a travel product	500k families	Prepaid / stored value
Crypto.com	7.2	Singapore, Singapore	Card tiers gated by CRO stake (terms change — verify)	FX on card + spread on crypto sell	80M+	Exchange + card programme by market
Wirex	7.1	London, United Kingdom	Free + paid X-tras	Crypto sell + scheme FX	6M+	EMI (UK)
Archa	6.9	Sydney, Australia	Subscription + interest-free periods on the card	FX on overseas card spend	10k businesses	Credit / spend platform (not an ADI)
AMP Bank	6.6	Sydney, Australia	Product-dependent	Bank FX	ADI retail scale	Authorised deposit-taking institution (AMP Bank Limited)

Closed in this market

Graveyard

	Product	Score	HQ	Monthly	FX	Users	Licence
	FTX	5.2	Nassau / Hong Kong, Bahamas	—	—	Bankrupt	See review
	Celsius	4.5	New Jersey, United States	—	—	Bankrupt	See review

Do not open. Full file sits in the graveyard.

Questions

Does the Financial Claims Scheme cover neobanks?+

It covers deposits at authorised deposit-taking institutions (ADIs). If the product is a stored-value account, credit card, or EMI-style wallet, FCS does not apply. Read the ADI name, not the app name.

Is Archa a bank?+

No. Archa issues business credit cards and spend-management software. Cards are issued by Archa Limited. It is in this register under business banking because that is how Australian operators search for it.

Other desks

Cross-check the scoring weights and the graveyard before you treat a leftover landing page as live.