A cap on transfers to crypto exchanges
Australia’s Westpac is making the rules strict this time
Effective December 1
Transfers to crypto exchanges it has identified
may be capped at A$10,000 per month
Online banking, the app, credit cards and debit cards all count
Payments may be declined once the combined total across multiple accounts reaches the cap
You can’t apply for a higher limit
Withdrawals from exchanges are unaffected
In-branch deposits to exchanges will no longer be supported
Fraud prevention is the stated reason
But if you’re looking to stock up on crypto, this is the hard limit
If you’re in Australia and bank with Westpac
you’ll need to plan your crypto purchases accordingly
#西太平洋银行将限制加密支付 $BTC
Australia’s Westpac is making the rules strict this time
Effective December 1
Transfers to crypto exchanges it has identified
may be capped at A$10,000 per month
Online banking, the app, credit cards and debit cards all count
Payments may be declined once the combined total across multiple accounts reaches the cap
You can’t apply for a higher limit
Withdrawals from exchanges are unaffected
In-branch deposits to exchanges will no longer be supported
Fraud prevention is the stated reason
But if you’re looking to stock up on crypto, this is the hard limit
If you’re in Australia and bank with Westpac
you’ll need to plan your crypto purchases accordingly
#西太平洋银行将限制加密支付 $BTC
