How to Buy Crypto with HSBC Bank
As previously stated, the best way for HSBC customers to buy and sell Crypto in Australia is by using the eToro exchange. The platform provides free and instant AUD deposits to HSBC customers through multiple payment methods, including Bank Transfer, Credit Card, Debit Card, PayPal and POLi.
Get started with this step-by-step guide:
- Open a free account on eToro and complete the verification requirements.
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Click 'AUD', select a payment method and send funds from HSBC.
- Complete your deposit and buy your desired Crypto in the search bar.
Buying Cryptocurrency Fees
The fees associated with this platform pertain to Crypto transactions and withdrawals of AUD to one's bank account. A 1% fee is levied on each trade, and a $5 fee is applied to every withdrawal. There are no fees to deposit funds to the platform from HSBC.
Does HSBC Bank allow Crypto Purchases?
HSBC customers can freely deposit and withdraw funds from regulated and licensed Crypto exchanges as there is nothing explicitly stated in its policies that would prohibit its clients from doing so. HSBC will only freeze its client's transactions to an exchange if the platform is unregulated and not legally allowed to operate in Australia.
About HSBC Bank
Established in 1965, HSBC Australia has a rich history spanning over five decades. The bank has grown significantly since its inception, with the acquisition of the Australian and New Zealand-based operations of the Bank of British Columbia in 1986. Today, HSBC Australia operates as a fully-fledged bank, providing an array of financial services to its customers.
It is a prominent banking institution and a subsidiary of HSBC Holdings plc, one of the world's largest financial services organisations. The bank provides a wide range of financial products and services to individual, commercial, and institutional clients.
Conclusion
In conclusion, while HSBC Australia does not currently offer Cryptocurrency investing services, it does permit its customers to purchase Crypto through reputable and regulated exchanges. We recommend using eToro as it provides a seamless Crypto-trading experience and allows users to invest directly in HSBC shares, providing an all-inclusive trading platform.
