BankSA does not offer a way to buy cryptocurrency directly through its online banking platform. To invest in digital assets, buy crypto on a regulated exchange if you are a BankSA account or card holder.
Unsure about where to buy?
Where BankSA customers can buy crypto
On website
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
Highlights
- Access thousands of assets across multiple categories.
- Copy trades of popular investors that trade Crypto.
- Access powerful analysis tools and innovative social features.
Pros
Cons
On website
Highlights
- Receive $10 worth of BTC when you sign up and verify your account.
- Trade over 300 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
- Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
- New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.
Pros
Cons
On website
Highlights
- Sign up on Binance Australia to get a 100 USDT cashback voucher. Terms and Conditions apply.
- World's largest crypto exchanges.
- Buy, sell, trade, and stake 1,000s of crypto coins and trading pairs.
- Zero-fee deposit via PayID or Osko from Australia.
Pros
Cons
Still not sure?
FAQs
Can you buy crypto directly with BankSA?
It is not possible to purchase cryptocurrency directly through BankSA. To buy cryptocurrency, you can use a crypto trading exchange or a platform that allows you to deposit funds from your BankSA account or card.
Does BankSA block crypto-related transactions?
BankSA does not block cryptocurrency transactions. Although the bank does not directly support the use or trading of cryptocurrency, customers should be aware of the risks associated with investing in digital currencies. Customers can purchase crypto on third-party trading platforms like those listed on this page.
Can BankSA bank accounts be used to buy crypto?
Yes, you can transfer funds from a BankSA bank account to a cryptocurrency exchange or brokerage where you can buy cryptocurrency.
Can BankSA credit cards be used to buy crypto?
Yes, it is possible to use a BankSA credit card to deposit funds into an account at a cryptocurrency exchange or brokerage. However, this may attract additional fees. Furthermore, according to the BankSA credit card conditions of use, crypto purchases are classified as cash equivalent and will incur interest at the cash advance rate.
Can BankSA debit cards be used to buy crypto?
Yes, BankSA debit cards can be used to deposit funds at a cryptocurrency exchange or trading platform. Additional fees may be charged.
Further details
BankSA’s crypto policy
BankSA has a conservative policy concerning its commitment to crypto trading. But as a member of the Westpac Group, BankSA's adoption of blockchain technology and any future retail crypto trading offering will likely be determined by the parent organisation.
