Hay Account and Card Review Australia: Features and Fees

Hay¹ offers digital account and card services to Australians looking for convenient and low cost ways to spend at home and abroad, and manage their money through an intuitive app. You can open a Hay Account in just a few minutes, and then order yourself a Hay Card to spend in person and online, and to get cash when you need it.

This guide covers all you need to know about Hay Australia and the Hellohay digital service. We'll also introduce to you Wise Travel Card that can help you save on international transactions with currency conversions at mid-market exchange rates.

What is Hay?

Hay is an Australian financial services and technology company which offers digital accounts and payment cards issued through the Visa network.

You can use your Hay Account to hold a balance in AUD, and then spend with your Hay Card online, in person and using a wallet like Apple Pay. The app offers smart budgeting and analytic tools to help you manage your money, and some eligible customers could even qualify for cashback on certain low value card transactions.

It’s important to know that Hay is not a bank, and the balance you hold in a Hay Account isn’t protected by the financial claims scheme in the way a balance held in a bank would be. That said, Hay is an Australian Financial Services Licence holder, and holds all customer funds with approved Australian Authorised Deposit-taking Institutions for safekeeping².

Hay doesn’t offer all the same products and services you might get from a bank, and accounts are not interest bearing. Make sure you’re clear on the account features, limits, and benefits before you sign up.

Hay Features

Hay offers digital account services which you can access through an app. There are no physical Hay branches, so you can’t deposit cash or get a face to face service. However, for people who prefer to manage their money digitally, the Hay Account and card might be a good product for day to day or travel spending.

Hay Account

The Hay Account holds a balance in AUD, but allows you to spend money with your linked Hay Card all over the world.

Here are a few of the features you can expect to get through the Hay Account:

• Top up your account digitally from your everyday bank account
• Hold a balance in AUD for day to day spending
• Check your account balance at a glance
• Get real-time notifications of all transactions
• Send instant payments in Australian dollars
• Visualise your spending using budgeting and analytics tools

At the time of writing there are Hay referral schemes which may mean you're rewarded if you refer a friend who signs up for a Hay Account. This can mean you can get cash back on your purchases which are under 10 AUD in value. Check out the referral promotions which are live at the time you sign up, as offers can change from time to time.

Hay Card

When you sign up for a Hay Account you can also order a Hay Card for easy spending. Here are some of the features of the Hay Card:

• Apple Pay and Google Pay compatible - may not be suitable for use on wearable devices
• Freeze and un-freeze card in the app whenever you need to
• No foreign transaction fee - overseas payments are converted with the Visa exchange rate
• No Hay fee for local ATM use in Australia (ATM operators may charge fees)
• Up to 500 AUD international ATM withdrawals per month with no Hay fee. 1.5% fee applies after that (ATM operators may charge fees)

Hay Fees

The Hay Account and card has very few fees for everyday activities and transactions. You don’t need to pay to open your account and there are no ongoing account keeping fees, but you might run into ATM charges if you use your card for cash regularly when abroad. Here's a summary:

*Details correct at time of writing - 1st December 2025

Hay Account Limits

While there are very few Hay fees to worry about, there are a few limits which are important to know. Here’s a roundup:

*Details correct at time of writing - 1st December 2025

Hay’s Exchange Rate

The Hay Card is optimised for travel use, and allows you to spend conveniently when you’re abroad. When you spend in a foreign currency, your purchase value is converted back to AUD using the Visa exchange rate with no margin or foreign transaction fee added by Hay. The value of the purchase in AUD is then debited from your Hay Account.

It’s important to note that although Hay will not add a fee to the exchange rate used when converting your payment, merchants may add costs in some cases which are out of the control of Hay⁴. You can check the specific Hay exchange rates for your purchase using the Visa exchange rate calculator.

You can always compare the exchange rate Hay uses with the mid-market rate. This is the mid-way point between the buy and sell prices on the global currency market, which means there’s no mark-up. The Wise multi-currency account and card uses the mid-market exchange rate for all currency exchanges, and charges a low, variable fee for conversion. This applies when you convert a currency in your account or to spend with your card. If you already have the currency you need in your account, there’s no additional fee for card spending.

How to apply for Hay

When Hay first launched in 2020, there was a waitlist for new customers signing up. However, this waitlisting period has now ended and so you can join whenever you like.

You can apply for a Hay Account and card as long as you meet the eligibility criteria:

• You must be 16 or older
• Your must be an Australian legal resident - if you’re not an Australian citizen or PR you must hold a visa valid for at least 3 months, which gives you the right to work in Australia

To apply for your Hay Account you’ll need to use the Hay app - the process should only take a few minutes, as long as you have your ID document and phone to hand. Here’s what to do:

1. Download the Hay app, which is available on Apple and Android phones
2. Tap the option to Register an account
3. Follow the prompts to enter your personal and contact information
4. Upload an image of your ID for verification - you may also be required to upload additional paperwork depending on the circumstances
5. Once your account is verified you can order your Hay Card and add money using a bank transfer

Your Hay Card will be mailed to you at your registered address and is usually received within 5 working days.

Summary

Let’s round out our Hay Australia review with a reminder of some of the pros and cons of the Hay Account and card.

Ultimately whether Hay is the right option for you will depend on your transaction habits and personal preferences. Use this guide to decide if the Hay Account may be a good fit for your needs. For both local and international spending, Wise, an multi-currency account and card alternative, is worth considering.

Hold and manage 40+ currencies at mid-market rate with the Wise account

The Wise account is an easy way to save up to 5x when you send, spend, and withdraw money internationally. Hold and manage 40+ currencies, including AUD, USD, EUR, and more. All you need to do is sign up for a free account to get started, there's no monthly fees either.

You can exchange currencies at the mid-market rate on every conversion — basically the rate you see on Google. And with zero foreign transaction fees, and low, transparent pricing, Wise usually gives you the best value for your money.

You'll get 8+ local account details in AUD and a selection of other global currencies to get paid conveniently to your Wise account. And when it's time to send money abroad , enjoy fast, low-cost transfers to 140+ countries. Plus, you can get a linked Wise debit card for spending internationally at the same great mid-market rate.

When it comes to managing money globally, the Wise account is a handy tool that makes it easier and simpler.

🚀 Open your Wise account