A heads-up for anyone using the Westpac app to send money to crypto exchanges—from 1 December 2026, payments the bank identifies as being made to crypto exchanges may be capped at a combined A$10,000 per month.
According to Westpac’s official information page, here are the key points that matter to everyday customers 👇
🔹 How the limit works: Payments the bank reasonably identifies as going to crypto exchanges are counted by calendar month. Online banking, the Westpac app, credit cards and debit cards may all count towards the same A$10,000 limit. Once you reach the limit, further payments that are identified as going to an exchange may be declined for the rest of that month—you’ll have to wait until the next calendar month.
🔹 Branch payments won’t be an option either: From 1 December, payments made at a branch that are identified as going to a crypto exchange will no longer be supported. So trying to get around the online limit by visiting a branch is basically off the table.
🔹 Joint accounts and multiple accounts: For a joint account, “each account holder has their own monthly limit of A$10,000”. If you have multiple cards or accounts, the limit may still be calculated across your relevant products and payment methods—it’s not A$10,000 for each card.
🔹 Withdrawals from exchanges are unaffected: The rules haven’t changed for withdrawing money from a crypto exchange into a Westpac account. The bank also won’t offer limit increases or exemptions. It states that the limit is applied at its discretion and doesn’t guarantee that every payment over A$10,000 will be stopped. The scope of identification is also limited to recipient details the bank recognises as belonging to an exchange at the time; not every exchange or payment method will necessarily be covered.
🔹 Why the bank is taking action: Data from the Australian National Anti-Scam Centre shows that cryptocurrency was involved in nearly half (about 46%) of reported scam losses last year. The bank describes the limit as an anti-scam measure.
Put simply: from 1 December, the rules around how much you can send to an exchange—and whether you send it through the app or at a branch—will be tighter. The option to withdraw from an exchange back into your bank account hasn’t changed for now. If you’re in Australia and regularly fund crypto purchases through Westpac, you can work out now whether your monthly deposits might hit the limit.
Do you usually send more than A$10,000 to exchanges in a month? Let’s talk in the comments 👇
#西太平洋银行将限制加密支付 #BTC #BNB
According to Westpac’s official information page, here are the key points that matter to everyday customers 👇
🔹 How the limit works: Payments the bank reasonably identifies as going to crypto exchanges are counted by calendar month. Online banking, the Westpac app, credit cards and debit cards may all count towards the same A$10,000 limit. Once you reach the limit, further payments that are identified as going to an exchange may be declined for the rest of that month—you’ll have to wait until the next calendar month.
🔹 Branch payments won’t be an option either: From 1 December, payments made at a branch that are identified as going to a crypto exchange will no longer be supported. So trying to get around the online limit by visiting a branch is basically off the table.
🔹 Joint accounts and multiple accounts: For a joint account, “each account holder has their own monthly limit of A$10,000”. If you have multiple cards or accounts, the limit may still be calculated across your relevant products and payment methods—it’s not A$10,000 for each card.
🔹 Withdrawals from exchanges are unaffected: The rules haven’t changed for withdrawing money from a crypto exchange into a Westpac account. The bank also won’t offer limit increases or exemptions. It states that the limit is applied at its discretion and doesn’t guarantee that every payment over A$10,000 will be stopped. The scope of identification is also limited to recipient details the bank recognises as belonging to an exchange at the time; not every exchange or payment method will necessarily be covered.
🔹 Why the bank is taking action: Data from the Australian National Anti-Scam Centre shows that cryptocurrency was involved in nearly half (about 46%) of reported scam losses last year. The bank describes the limit as an anti-scam measure.
Put simply: from 1 December, the rules around how much you can send to an exchange—and whether you send it through the app or at a branch—will be tighter. The option to withdraw from an exchange back into your bank account hasn’t changed for now. If you’re in Australia and regularly fund crypto purchases through Westpac, you can work out now whether your monthly deposits might hit the limit.
Do you usually send more than A$10,000 to exchanges in a month? Let’s talk in the comments 👇
#西太平洋银行将限制加密支付 #BTC #BNB
