Investing in cryptocurrency through Westpac's online banking platform is impossible. Instead, using a regulated exchange in Australia is recommended to invest in digital assets from a Westpac account or with a Westpac debit or credit card.
Unsure about where to buy?
Where Westpac 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 Westpac?
Westpac does not offer a direct retail service for purchasing cryptocurrency. To buy cryptocurrency, you can use an exchange or brokerage and fund the purchase with a bank transfer from your Westpac account or with your Westpac credit or debit card.
Does Westpac block crypto-related transactions?
Westpac does not block cryptocurrency transactions but does not directly support their use. Customers may use their Westpac accounts to buy or sell cryptocurrency through third-party platforms, but Westpac cautions about the risks of investing in cryptocurrency.
Can Westpac bank accounts be used to buy crypto?
Yes, you can transfer funds from a Westpac bank account to an exchange or brokerage where you can purchase crypto.
Can Westpac credit cards be used to buy crypto?
Yes, it is possible to use a Westpac credit card to fund a cryptocurrency exchange or brokerage where you can buy crypto. Be aware that credit card deposits are not universally accepted. Exchanges and brokerages where you can deposit funds with a credit card typically charge an additional fee when choosing this funding method.
Can Westpac debit cards be used to buy crypto?
Yes, it is possible to use a Westpac debit card to buy cryptocurrency at an exchange. Debit card deposits may not be possible with some platforms and those that do may charge an additional fee to process a debit card deposit.
Further details
Westpac’s crypto policy
Westpac is interested in digital assets and distributed ledger technology. They plan to pursue new technology partnerships, investments, and M&A opportunities in the digital products sector, with the goal of transforming trends in cryptocurrency and digital assets into opportunities for the bank and its customers.
