- Commonwealth Bank (CBA)
- Total Assets: A$933.078 billion
- Why It’s Crypto-Friendly: CBA allows crypto transfers but caps them at $10,000 per month per account. It’s a bit limiting for heavy traders but works fine for beginners. Transfers to exchanges are reported to be smooth and quick for most users.
- Pro Tip: Business accounts with CBA often face fewer restrictions compared to personal accounts.
Recommended Exchange for CBA customers: Swyftx
- Australia & New Zealand Banking Group (ANZ)
- Total Assets: A$914.900 billion
- Why It’s Crypto-Friendly: ANZ is a solid choice for beginners. They don’t impose strict limits, though fraud checks may delay your first transfer.
- Daily Transfer Limits:
- Pay Anyone: Up to $25,000
- BPay: Up to $50,000
- Internet Banking: Up to $75,000
- Daily Transfer Limits:
- Recommended Exchange for ANZ customers: Swyftx
- Westpac
- Total Assets: A$839.202 billion
- Why It’s Crypto-Unfriendly: Officially, Westpac blocks all transfers to crypto exchanges. However, small amounts have reportedly gone through without issues, making it a mixed bag.
- Recommended Exchange for Westpac customers: Swyftx
- National Australia Bank (NAB)
- Total Assets: A$777.622 billion
- Why It’s Crypto-Friendly: NAB works well with popular exchanges like Swyftx and Coinbase.
- Daily Transfer Limit: Up to $40,000
- Pro Tip: Your first few transactions might get flagged for review, but once verified, transfers should go smoothly.
- Recommended Exchange for NAB customers: Swyftx
- Bank Australia
- Total Assets: A$7.2 billion
- Why It’s Crypto-Friendly: Simple and beginner-friendly. They allow up to $10,000 in monthly transfers to crypto exchanges. If flagged, their customer service team is quick to assist.
Recommended Exchange for Bank Australia customers: Swyftx
- Bank of Queensland (BOQ)
- Total Assets: A$10.7 billion
- Why It’s Crypto-Friendly: A great choice for scaling up. The standard transfer limit is $10,000/day but can be temporarily increased to $100,000 with a phone call.
- Recommended Exchange for BOQ customers: Swyftx
The Crypto-Unfriendly Banks
- ING: Transfers over $1,000 often get delayed, and reports of blocked exchanges have increased.
- Macquarie Bank: Claims to block all crypto transactions but some users report success.
- HSBC: Blocks all payments to crypto exchanges as of July 2024.
- Wise: Has started to block and refund crypto payments in 2025 Read more.
Pro Tip for Beginners
Start small and test the waters. Even with a crypto-friendly bank, your first transactions might get flagged—it’s just the bank’s way of protecting you. Once you’re verified, things usually run smoothly.
Remember: crypto might feel overwhelming at first, but with the right tools and a supportive bank, you’ll be trading confidently in no time!
