BankSA does not offer a way to buy cryptocurrency directly through its online banking platform. To invest in digital assets, buy crypto on a regulated exchange if you are a BankSA account or card holder.
Unsure about where to buy?
Where BankSA 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
- Access over 440 assets, including Bitcoin, Ethereum, Ripple, Litecoin, and DeFi tokens like UniCoin.
- Choose from multiple payment options, including PayID, OSKO, POLi, and bank transfers for deposits and withdrawals.
- Learn the basics of crypto trading with Swyftx’s demo mode, allowing risk-free mock trading.
Pros
Cons
On website
Highlights
- Sign up on Binance Australia to get a 100 USDT cashback voucher. Terms and Conditions apply.
- Access the world's biggest platform for buying, selling, and trading crypto.
- Trade and stake thousands of cryptocurrencies and trading pairs.
- Deposit funds without worrying about any extra charges.
Pros
Cons
Still not sure?
FAQs
Can you buy crypto directly with BankSA?
It is not possible to purchase cryptocurrency directly through BankSA. To buy cryptocurrency, you can use a crypto trading exchange or a platform that allows you to deposit funds from your BankSA account or card.
Does BankSA block crypto-related transactions?
BankSA does not block cryptocurrency transactions. Although the bank does not directly support the use or trading of cryptocurrency, customers should be aware of the risks associated with investing in digital currencies. Customers can purchase crypto on third-party trading platforms like those listed on this page.
Can BankSA bank accounts be used to buy crypto?
Yes, you can transfer funds from a BankSA bank account to a cryptocurrency exchange or brokerage where you can buy cryptocurrency.
Can BankSA credit cards be used to buy crypto?
Yes, it is possible to use a BankSA credit card to deposit funds into an account at a cryptocurrency exchange or brokerage. However, this may attract additional fees. Furthermore, according to the BankSA credit card conditions of use, crypto purchases are classified as cash equivalent and will incur interest at the cash advance rate.
Can BankSA debit cards be used to buy crypto?
Yes, BankSA debit cards can be used to deposit funds at a cryptocurrency exchange or trading platform. Additional fees may be charged.
Further details
BankSA’s crypto policy
BankSA has a conservative policy concerning its commitment to crypto trading. But as a member of the Westpac Group, BankSA's adoption of blockchain technology and any future retail crypto trading offering will likely be determined by the parent organisation.
