How to buy Crypto with Bank of Melbourne
The most secure way to buy Bitcoin and other cryptocurrencies with a Bank of Melbourne account is by going through eToro. The eToro exchange accepts AUD deposits via POLi, Osko, Bank Transfer, Credit/Debit Card, PayPal, Skrill or Neteller.
Start trading thousands of assets with this easy guide:
- Create a free account on eToro and complete the verification process,
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Click 'AUD', pick a payment method, and transfer funds from Bank of Melbourne.
- Complete your deposit and buy your desired crypto in the search bar.
Buying Cryptocurrency Fees
When buying cryptocurrencies on an exchange you will generally have to pay at least two fees, the deposit and trading fee. The deposit fees on eToro vary depending on the method and the trading fee is 1% anytime you buy or sell a digital asset such as Bitcoin or Etheruem.
Does Bank of Melbourne allow Crypto Purchases?
The Bank of Melbourne has not publicly announced its stance on cryptocurrencies. However, there is nothing stated in its policies that would prohibit users from investing in digital assets. Furthermore, there have been zero reports of its customer's funds being frozen when transferring to an AUSTRAC-regulated digital currency exchange like CoinSpot.
About Bank of Melbourne
Bank of Melbourne is a financial institution in Australia founded in 1989 and is headquartered in Melbourne. It is a subsidiary of Westpac Banking Corporation, one of the largest banks in Australia. It offers a range of personal and business banking services, including savings accounts, credit cards, loans, insurance, and investment products.
Bank of Melbourne has a strong commitment to supporting the local community and has established a Community Fund to support a range of community initiatives and projects. The bank also offers a range of financial education programs and resources for individuals and businesses to improve their financial literacy and management skills.
To recap, Bank of Melbourne does not allow its customers to buy, sell or store cryptocurrencies directly through its platform. However, Bank of Melbourne users can still invest in crypto by using a regulated and licensed Australian digital asset exchange like eToro. It is considered Australia’s most secure trading platform that offers a safe and regulated environment to buy and sell crypto with low fees.