How to Buy Crypto with Greater Bank
The best way to invest in Cryptocurrencies like Bitcoin with Greater Bank is by going through eToro. It is Australia's best cryptocurrency exchange and offers Greater Bank customers free and instant AUD deposits. Users can deposit funds to eToro through various methods, including Bank Transfer, Credit or Debit Card, POLi, PayPal, Skrill or Neteller.
Begin trading over 3000 assets with this short guide:
- Sign up to eToro for free and complete the verification requirements.
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Click 'AUD', select a payment method and transfer AUD from Greater Bank.
- Complete your deposit and buy your desired Crypto in the search bar.
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Buying Cryptocurrency Fees
Traders on eToro benefit from zero-commission trading on stocks and ETFs, allowing them to invest without incurring additional costs. However, cryptocurrency trades to incur a fee of 1% anytime you buy or sell a token. Additionally, eToro imposes a $5 withdrawal fee and requires a minimum withdrawal amount of $30, but deposits to the exchange are completely free. Inactivity fees are applied to users who do not log in for 12 months, a monthly charge of $10.
Does Greater Bank allow Crypto Purchases?
Yes, Greater Bank approves of transactions to and from AUSTRAC-registered and ASIC-licensed digital asset exchanges. The bank allows its customers to use their Greater Bank account or credit/debit card to deposit funds to a crypto trading platform. It is considered a crypto-friendly bank and there is nothing stated in its policies prohibiting its clients from investing in crypto.
About Greater Bank
Greater Bank was established in 1945 as the Greater Newcastle Cooperative Permanent Building and Investment Society. In 2011, the organisation changed its name to Greater Building Society and Greater Bank in 2016. The company is headquartered in Newcastle, New South Wales. As a member of the Customer Owned Banking Association (COBA), Greater Bank prioritises its customers' needs, focusing on delivering competitive rates and low fees.
Conclusion
To recap, Greater Bank customers cannot purchase Cryptocurrencies directly through the bank as it does not offer any investing features. The only way to invest in Crypto in Australia is by going through an AUSTRAC-regulated digital asset exchange. eToro is the most secure and trusted trading platform for Greater Bank customers. To learn more about this exchange, visit our detailed eToro Review.
