Crypto Friendly Banks Australia (2026 Guide)

Some Australian banks are notoriously reluctant to transact with crypto businesses. To help you, we’ve put together the best crypto-friendly banks in Australia for 2026, with some tips on how to spot the most crypto-friendly banks.

Which banks are crypto-friendly in Australia?

No Australian bank is perfect for crypto, as in general, these institutions remain wary of potential customer scams. However, some banks are more crypto-friendly than others, particularly digital money apps like Revolut and UBank. Some options based on recent user reviews include:

St.George Bank

St.George is considered one of Australia’s more crypto-friendly banks, supporting transfers to trusted Australian crypto exchanges. Withdrawals from exchanges into your St.George account are allowed without restriction, and you can amend your general daily limit easily.

While the bank supports crypto, it also enforces scam-prevention measures. Payments to unregistered or high-risk crypto exchanges may be blocked, and some high-value or first-time transfers may be manually reviewed. Overall, St.George offers a balanced approach that supports crypto while prioritising customer protection.

Up Bank

Up is widely seen as one of the most crypto-friendly Australian banks. It supports crypto transactions by allowing fiat transfers to reputable exchanges, with the majority of customers consistently reporting smooth payments. While there’s no official monthly cap imposed by some larger banks, occasional holds on large or first-time transfers may occur, particularly for new Up Bank customers.

NAB

NAB is generally considered a crypto-friendly bank that allows transfers to reputable Australian exchanges, with a generous daily limit of $40,000.Withdrawals from exchanges back into NAB accounts are generally processed without issue, though initial or large crypto transfers may be temporarily held for review.

NAB blocks payments to high-risk or scam-linked crypto platforms, declining transactions via Visa cards, PayID, or digital transfers. NAB actively monitors accounts for suspicious activity, including mule account use, which can occasionally impact legitimate users.

Great Southern Bank

Great Southern Bank takes a relatively hands-off approach to cryptocurrency transactions. Customers can transfer funds to and from regulated Australian crypto exchanges without any hassle, within daily payment limits ($5000 for PayID and OSKO)

As with all banks, Great Southern Bank employs fraud and scam detection measures that may delay or review certain payments.

Revolut

While it's not a regulated bank (yet), Revolut stands apart from traditional banks by offering integrated cryptocurrency services directly within its app. Australian customers can buy, sell, trade, and hold crypto directly in their Revolut account, while also accessing traditional financial banking services.

Rather than restricting crypto activity, Revolut's focus is on compliance and transaction monitoring. Large transfers, wallet withdrawals, or unusual crypto activity may trigger additional verification checks.

UBank

UBank generally allows customers to transfer funds to and from reputable cryptocurrency exchanges, reflecting its connection to NAB's broader approach to digital asset transactions. Customers can typically fund accounts on major Australian exchanges and receive withdrawals back into their UBank accounts without significant restrictions.

Where UBank differs is its emphasis on fraud prevention and scam detection. The bank actively warns customers about cryptocurrency-related scams and may intervene when transactions appear unusual or are linked to higher-risk platforms. While transfers to regulated exchanges are generally supported, payments that trigger security concerns may be delayed, reviewed, or blocked as part of the bank's anti-scam measures.

ANZ

ANZ allows crypto transactions, but with strict controls in place to protect customers from scams. Payments to crypto exchanges are blocked by default under the bank’s Crypto Protect setting, which must be manually disabled to enable outgoing transfers.

Which banks are less crypto-friendly?

Why do Australian banks block crypto transfers?

Crypto might be more mainstream than ever, but many Australian banks still see it as a higher-risk activity than traditional investing. Over the last few years, major banks, including CBA, Westpac, and ING, have introduced restrictions on certain crypto transactions, ranging from transfer caps to payment delays and exchange-specific blocks.

The main reason is scam prevention. According to the ASCS, around 47% of all money lost to investment scams involves cryptocurrency. In response, banks have introduced additional checks designed to stop customers from sending money to fraudulent investment schemes, fake exchanges, and scam wallets.

These measures appear to be having an impact as the amount lost to scams has steadily been declining in the last few years. However, the downside is that legitimate crypto investors are often caught up in the same restrictions.

Today, depending on your bank, you may encounter monthly transfer limits, delays on first-time payments to exchanges, or blocks on transfers to platforms considered high risk. Even transfers to well-known Australian exchanges can sometimes trigger additional verification checks.

Why do some banks have a hold period for crypto transfers?

A hold period is usually part of a bank's fraud and scam-prevention process. When a payment is flagged as unusual, high-value, or destined for a crypto exchange, the bank may temporarily delay the transaction while additional checks are carried out.

These holds are most common when you're sending money to an exchange for the first time, making a larger-than-usual transfer, or transferring funds to a platform that the bank considers higher risk. Depending on the bank, the delay can range from a few hours to several days.

While frustrating for investors, banks argue that these delays give customers time to identify potential scams and allow fraud teams to intervene if a payment appears suspicious.

What if I want to make a large transfer from my bank to a crypto exchange?

Large crypto transfers are where bank restrictions tend to become most noticeable. Many Australian banks now apply additional scrutiny to high-value payments, particularly if you're transferring funds to a crypto exchange for the first time.

Depending on your bank, you may need to increase your daily transfer limit, complete additional identity checks, or wait for a manual review before the payment is released.

If you're planning a significant transfer, it's worth checking your bank's current crypto policy and getting in touch with your bank's customer service team ahead of your transaction to reduce the chance of delays.

What’s the best payment method for transfers to crypto exchanges in Australia?

For most Australians, PayID is the fastest and most reliable way to fund a crypto exchange account. Most major Australian exchanges support PayID deposits, with transfers often arriving within minutes and without additional fees.

Traditional bank transfers are also widely supported, although processing times can vary depending on your bank's security checks and whether the transfer is being made to an exchange for the first time.

Debit card purchases are another option, but they're often more expensive due to card processing fees and may be blocked by some banks altogether. Credit card purchases are becoming increasingly uncommon, with many banks restricting or declining crypto-related credit card transactions.

Tips for managing bank transfers to crypto exchanges

• Use a dedicated account for crypto: Keeping your crypto activity separate from your everyday banking can help minimise disruption if a bank reviews or restricts crypto-related transactions.

• Start with a small test transfer: Before sending a large amount, make a small deposit to check for any limits, delays, or verification requirements.

• Stick to reputable Australian exchanges: Transfers to well-known, AUSTRAC-registered exchanges are generally less likely to be flagged than payments to offshore platforms.

• Check your bank's crypto policy: Some banks impose transfer caps, delays, or exchange-specific restrictions, so it's worth understanding the rules before you need them.

• Have a backup bank account: If your bank introduces restrictions, having an account with another crypto-friendly bank can save you a lot of hassle.

• Plan ahead for large withdrawals: Selling crypto to fund a property purchase or other major expense? Allow extra time for exchange processing and potential bank reviews.

Don’t forget the tax bill…

Whichever bank you use to fund your crypto trades, those crypto transactions are taxable in Australia. Learn more in our crypto taxes Australia guide or use a crypto tax calculator like Koinly to help you automatically calculate your tax liability.