Best Crypto Friendly Banks Australia
Some banks are notoriously reluctant to transact with crypto businesses. To help you, we’ve put together the best crypto-friendly banks in Australia for 2025. Whether you’re investing in Bitcoin, trading altcoins, or managing your portfolio, these banks offer the most supportive policies for crypto enthusiasts.
1. ING Australia
Verdict: Crypto-friendly
Why it’s crypto-friendly: ING Australia has gained a reputation for being relatively supportive of cryptocurrency transactions. While many of the Big Four banks in Australia—Commonwealth Bank (CBA), NAB, ANZ, and Westpac—have introduced more restrictive policies on deposits to crypto exchanges, ING continues to take a balanced approach. It allows transactions with crypto platforms, provided they comply with Australian regulatory requirements.
If you’re looking for a bank that won’t flag or block crypto-related transactions, ING Australia is a strong choice.
Read next: Best Crypto Exchanges Australia
2. St.George Bank
Verdict: Crypto-friendly
Why it’s crypto-friendly: St.George Bank is another solid option for Australian crypto investors. The bank has not imposed significant restrictions on transactions to cryptocurrency exchanges, allowing customers to buy, sell, and trade digital assets with minimal interference. However, as with any financial institution, individual experiences may vary depending on transaction volume and the exchange you use.
Crypto traders seeking fewer hurdles in their banking experience often favor St.George Bank.
3. Up Bank
Verdict: Crypto-friendly
Why it’s crypto-friendly: Up Bank is a digital-first bank that has earned a reputation for its ease of use and openness to crypto transactions. Users report successful transfers to various cryptocurrency exchanges without issues. Additionally, the bank’s modern app interface and straightforward customer service make it a popular choice for tech-savvy investors.
Up Bank is particularly appealing to younger generations entering the crypto space.
Read next: Best Crypto SMSFs in Australia
4. National Australia Bank (NAB)
Verdict: Moderately crypto-friendly
Why it’s crypto-friendly: NAB has shown a mixed but generally positive stance toward cryptocurrency. While it has tightened its policies on some international crypto exchanges it considers high-risk, the bank is more lenient with reputable Australian-based platforms. NAB’s approach reflects a cautious embrace of crypto, with added safeguards to protect customers from scams.
For Australian exchanges like CoinSpot or BTC Markets, NAB customers are likely to encounter fewer restrictions.
5. Commonwealth Bank of Australia (CBA)
Verdict: Less crypto-friendly
Why it’s not as crypto-friendly: CBA has taken significant steps to limit its customers’ involvement in cryptocurrencies. In 2023, the bank implemented restrictions such as a $10,000 cap on payments to crypto exchanges per account per calendar month. In some cases, it has delayed or blocked transactions altogether.
While these measures are designed to combat fraud and protect customers, they make CBA a less favorable option for active crypto investors.
Read next: Can the ATO Track Crypto?
6. Westpac
Verdict: Less crypto-friendly
Why it’s not as crypto-friendly: Westpac has followed a conservative approach toward cryptocurrency transactions. In May 2023, the bank introduced policies aimed at curbing scams, which resulted in additional restrictions on crypto-related transactions. While the bank has not banned crypto outright, customers have reported inconsistent experiences when trying to move funds to exchanges.
As a result, Westpac is not the best choice for investors looking for a seamless crypto experience.
Key takeaways
Navigating the Australian banking system as a crypto investor requires finding the right financial partner. ING, St.George, and Up Bank stand out as the most crypto-friendly banks, offering support for transactions with crypto exchanges. Meanwhile, NAB shows a cautious but open attitude, while CBA and Westpac’s stricter policies may be limiting for some investors.
Always check with your bank and the specific crypto exchange you plan to use to ensure smooth transactions. Crypto-friendly banks can make all the difference in your investment journey, providing peace of mind and hassle-free access to the crypto market.
Read next: What is AUSTRAC?
Do any Australian banks offer crypto?
No. None of the major Australian banks offer crypto investments directly in-app or otherwise yet. However, there are many modern financial service providers operating in Australia that offer both fiat and crypto investments (and more). Some of these include:
Don’t forget the tax bill…
Whatever your investments - your crypto transactions may be taxable in Australia. Learn more in our Australia crypto tax guide or use a crypto tax calculator like Koinly to help you automatically calculate your tax liability.