How to Buy Crypto with Suncorp Bank

If you're a Suncorp customer keen on buying Bitcoin or other digital currencies, your first step should be to sign up with a cryptocurrency exchange that is registered with AUSTRAC in Australia. These platforms enable secure and legal investments by accepting Suncorp bank transfers and debit or credit card deposits. 

Here's a straightforward 4-step guide on using eToro, an exchange platform known for its speedy, low-cost AUD deposits from Suncorp, and for providing access to over 3,000 various tradeable assets.

  1. Register for an eToro account at no cost and fulfill the verification requirements.
  2. Press the 'Deposit Funds' button located at the lower left corner of your screen.
  3. Select 'AUD', choose a payment method, and transfer funds from your Suncorp account.
  4. After depositing, search for and purchase your chosen cryptocurrency.
How to Buy Crypto with Suncorp.

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Fees to Buy Crypto

Most cryptocurrency trading platforms in Australia typically charge a deposit fee, but eToro offers free and instant AUD deposits. Only two costs are associated with the eToro exchange, the trading and withdrawal fee. The cost to buy or sell a token on eToro is 1% of your total transaction amount, and withdrawals are capped at $5. Aside from these feess, there are no additional charges to invest in crypto.

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Does Suncorp Allow Crypto Purchases?

Yes, Suncorp Bank allows its customers to send and receive Australian dollars to digital asset exchanges licensed by the Australian Transaction Reports and Analysis Centre (AUSTRAC). However, they may stop transactions to unregulated exchanges like KuCoin or Gate.io. This is why we recommend using a platform that is registered with AUSTRAC and licensed with ASIC.

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About Suncorp Bank

Suncorp is an Australian banking institution headquartered in Brisbane, Queensland. Founded in 1902, it has grown to become one of Australia's leading regional banks, offering a diverse range of financial products and services, including retail banking, insurance, wealth management, and business banking. Recognized for its commitment to customer service and innovation, Suncorp Bank operates both physical branches and a comprehensive digital banking platform. 

Its broad customer base spans individuals, small businesses, and large corporations, catering to their unique financial needs with a focus on fostering financial well-being and security. With a rich history, strong corporate values, and a future-forward approach, Suncorp Bank continues to play a pivotal role in the Australian banking landscape.

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‍Conclusion

To conclude, after thoroughly examining the top trading platforms in Australia, our team of researchers has determined that eToro is the top choice for Suncorp Bank account holders. eToro's standout features include a user-friendly interface, mobile and desktop compatibility, 24/7 support, trading on over 3000 assets, multiple AUD payment methods, copy trading services, and a virtual trading platform.