When it comes to buying or selling crypto, your choice of bank can make a big difference. Some banks are generally supportive of transfers to registered Australian exchanges, while others impose strict limits or block transactions altogether.
At Digital Surge, we’ve seen that even with the most crypto-friendly banks, customers may still encounter security checks, temporary holds, or fraud reviews. These are usually part of the bank’s scam prevention processes.
That said, most users consistently report smoother experiences with certain banks — while others are known to be much more restrictive.
Banks that are generally crypto-friendly
Based on customer feedback and industry reporting, the following banks are usually the most supportive when it comes to transferring funds to crypto exchanges.
We’ve listed them here:
ANZ
NAB
Westpac
ING Australia
St. George Bank
UBank (NAB-owned)
Bank Australia
Great Southern Bank
These banks don’t impose blanket bans on crypto activity.
Most users are able to transact smoothly, although some may experience occasional delays, reviews, or verification calls — especially on their first transfers or when sending larger amounts.
Banks that are less crypto-friendly
The following banks are much stricter and either limit how much you can send to crypto exchanges or block payments altogether:
Commonwealth Bank (CBA): Strict $10,000 per month cap on payments to crypto exchanges. Transactions are often delayed for 24 hours and may be held or declined.
Bankwest (CBA-owned): Applies similar restrictions to CBA, with frequent reports of blocked transfers.
Macquarie Bank: Transfers to crypto exchanges are heavily restricted, with many customers reporting blocked or declined transactions.
Bank of Queensland (BOQ): Enforces a $5,000 per month cap for crypto-related payments.
HSBC: Imposes a blanket ban on all payments to crypto exchanges.
Key tips for banking with crypto
Use PayID where possible: It’s the fastest and most reliable method, with fewer delays.
Expect fraud checks: Even at crypto-friendly banks, your first transfers or larger amounts may trigger reviews.
Stay informed: Banks may change their crypto policies without notice. Always check with your bank for the most up-to-date information.
Have a backup option: If your primary bank becomes restrictive, consider opening an account with a more supportive bank.
If you have any questions, feel free to reach out to us — our team is here to help.