Updated September 29, 2026 · VaultCue Editorial Team
Up vs Yape
Up
Higher score in this comparison
Yape
Up vs Yape: the differences
| Compare | UpReviewSee alternativesSee alternatives | YapeReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | A$0 | PEN 0 |
| Transfer fee | Free for domestic Pay Anyone transfers, BPAY and direct debits; international transfers sent via Wise | Free (0) to send a Yape payment; remittance receiving also free |
| Currencies | Not confirmed | 2 |
| Free ATM withdrawals | A$0 | Not confirmed |
Same on both: Currency conversion fee (0%).
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Key differences
- Up scores higher overall: 9.4 vs 9.1.
- Support channels: only Up offers Chat, Phone, Email.
- Pricing model: only Up offers Low FX.
- Features: only Up offers Free ATM, Joint account.
- Features: only Yape offers Digital only.
Our verdict on each
Up
Up suits anyone who wants an everyday Australian account that charges no monthly fee and no currency conversion fee. The monthly fee is AUD 0, the currency conversion fee is 0%, and the account is provided by Bendigo and Adelaide Bank Limited, with a variable rate on balances.
Yape
Yape suits people in Peru who want a wallet for everyday payments and money sent home, not a multi-currency account. The monthly fee is PEN 0 and the currency conversion fee is 0%, so the cost is hard to argue with, but the offer is thin at 2 currencies.
Score breakdown
| Area | Up | Yape |
|---|---|---|
| Cost | 9.4Cash withdrawals are free within the allowance of AUD 0 and the minimum deposit is AUD 0, so running costs stay low. | 9.6HigherMonthly fee of PEN 0, a currency conversion fee of 0% and free transfers on a single-currency wallet. |
| Offer | 9.2HigherBuilt for travelers, with help on chat, phone and email and an Australian Credit Licence, 237879. | 8.3Covers 2 currencies, pays out to the wallet only and runs as a digital-only service. |
Every fact side by side
| Fact | Up | Yape |
|---|---|---|
| Audience | Travelers | Not confirmed |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Free ATM, Joint account | Digital only |
| Legal entity | Bendigo and Adelaide Bank Limited | Not confirmed |
| Headquarters | Australia | Not confirmed |
| Support channels | Chat, Phone, Email, Help centreCovers more | Help centre |
Savings
| Fact | Up | Yape |
|---|---|---|
| Rate type | Variable | Not confirmed |
| Minimum deposit | A$0 | Not confirmed |
| Access terms | On-demand easy access via the Up app; interest activates after 5 eligible card purchases in a month, no deposit required | Not confirmed |
| Account kind | Easy access | Not confirmed |
Money transfer
| Fact | Up | Yape |
|---|---|---|
| Delivery time | Not confirmed | Instant, credited directly to the Yape wallet |
| Payout methods | Not confirmed | Wallet |
| Fee to send 1,000 | Not confirmed | PEN 0 |
Where each stands against the rest
| Fact | Up | Yape | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 0.5% |
| Currencies | Not confirmed | 2lowest quarter | 5 |
Median across 536 listed accounts.
Pros and cons
Up
Pros
- No monthly charge on the everyday account: AUD 0.
- No currency conversion fee: 0%.
- Joint accounts and free cash machine withdrawals are both on the free atm and joint account list.
Cons
- Interest activates only after a set number of eligible card purchases in a month, so a balance must see card spending first.
- The account kind is easy access with a variable rate, so a fixed-rate term is not part of the deal.
Yape
Pros
- Monthly fee of PEN 0 on the everyday account
- Currency conversion fee of 0%, top of the multi-currency table
- Sending a Yape payment and receiving a remittance are both free
Cons
- Only 2 currencies, near the bottom of the multi-currency table
- Payouts run to the wallet only, so money cannot be withdrawn to a bank account
- Support runs on help centre only, with no phone or email line
Who each suits
Up
Who it suits
- People in Australia who want a current account with AUD 0 a month and 0% on currency conversion.
- The travellers Up is aimed at, since its listed audience is travelers.
- Pairs who want to share one account, as a joint account appears under free atm and joint account.
Who should look elsewhere
- Readers who want a euro account rather than an Australian one, since €0 a month at XTB and €0 at AXI Card Tarjeta y Credito sit outside Up's Australian base.
- Anyone focused mainly on moving money rather than holding a bank balance, where Skrill charges €0 a month.
Yape
Who it suits
- People living in Peru paying everyday bills from a phone
- Family members abroad sending remittances to a Yape wallet
- Anyone who wants to receive money without opening a bank account
Who should look elsewhere
- PayPal Colombia or Skrill if you hold money in several currencies
- eToro if you want a card account that pays out to a bank
- Anyone who needs help by phone, since support runs on help centre only
Current offers
Up
Current offer
Bonus
Sign up & SCORE $10 with code UPYEAH10: $10 AUD
Code must be used at sign-up via the Up app; offer only applies to individuals opening a new Up Everyday Account
Source, checked September 26, 2026
Yape
Current offer
Discount code
Hasta 50% de descuento en electrodomésticos en Yape Tienda: Up to 50% off appliances
Source, checked September 26, 2026
Country by country
| Country | Up | Yape |
|---|---|---|
| Australia | Yes | No |
| Peru | No | Yes |
Questions about each
Up
What does it cost to hold an Up account?+
Up charges a monthly fee of AUD 0 on the everyday account, and the currency conversion fee is 0%. The minimum deposit is AUD 0. Domestic Pay Anyone transfers, BPAY and direct debits are free, while international transfers are sent through Wise.
Who provides the account and what licence is behind it?+
The account comes from Bendigo and Adelaide Bank Limited, Bendigo and Adelaide Bank Limited, which is based in Australia, AU. Up also holds an Australian Credit Licence, 237879, and an Australian Financial Services Licence in Australia.
Yape
How much does a Yape account cost to keep?+
The monthly fee on the everyday account is PEN 0. Sending a Yape payment carries no charge, and receiving a remittance is free as well, so the everyday cost of running the wallet is close to nothing.
What does it cost to change currency in a Yape wallet?+
The currency conversion fee is 0%, which sits at the top of the multi-currency ranking. The catch is that Yape only holds 2 currencies, so a wider currency basket is not available here.