Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Bendigo Bank facilitates the transfer of funds to established exchanges, ensuring transactions comply with regulatory standards set by Australian financial authorities like the Australian Transaction Reports and Analysis Centre (AUSTRAC). This approach supports secure and compliant dealings in the financial market.

For Bendigo Bank customers looking to expand their investment horizons, eToro emerges as a notable platform. eToro offers a regulated environment for trading an extensive selection of cryptocurrencies, shares, ETFs, and commodities. It also provides unique features like social trading capabilities and a virtual account for practice trading.

Capital at risk. See eToro PDS and TMD. AFSL 491139.
eToro Australia
eToro Australia

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.8

Supported Assets

4,500 Cryptocurrencies, Stocks, ETFs and more.

Trading Fees

0% Fees and Variable Spread (1%).

Can I Invest in Crypto with Bendigo Bank?

Bendigo Bank does not offer direct cryptocurrency trading services through its banking operations. However, customers have the option to transfer funds to accredited platforms. Choosing one regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) is crucial for the security of your investment platform and assets.

Bendigo Bank customers should be aware that the bank's digital banking solutions, including its mobile app and online banking site, do not support built-in cryptocurrency wallets. To manage their crypto assets, customers must rely on licensed digital currency exchanges within Australia, ensuring a compliant trading environment.

How to Buy Crypto with Bendigo Bank

Bendigo Bank doesn't facilitate direct crypto purchases but allows transfers to accredited cryptocurrency exchanges. It's essential to use platforms approved by regulatory bodies for secure transactions. In Australia, eToro is recognised for its compliance with AUSTRAC regulations, providing straightforward options for AUD deposits through bank transfers and credit cards.

  1. Start by creating an eToro account with an easy sign-up process.
  2. Select 'Deposit Funds,' pick your preferred deposit method, and transfer money from Bendigo Bank.
  3. Navigate using the search function to find your target cryptocurrency and select 'Trade.'
  4. Specify how much you want to invest and finalise your purchase by clicking 'Open Trade.'
How to Buy Crypto with Bendigo Bank

Does Bendigo Bank Block Crypto Transactions?

No, Bendigo Bank permits fund transfers to regulated cryptocurrency exchanges, supporting its customers' involvement with digital currencies by authorising transactions to approved trading platforms. This stance highlights the bank's commitment to offering a variety of financial options to its clients, facilitating their exploration of the emerging digital currency space.

The bank advises its clients to interact only with exchanges that comply with Australia's KYC and AML regulations, overseen by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This recommendation reflects the bank's dedication to providing secure financial services in today's digital landscape.

Digital Asset Investing Fees

Understanding the fees of digital asset exchanges is fundamental for enlightened financial choices. Here’s a concise overview of eToro’s charges:

  • Deposit Costs: Adding money to your eToro account could entail fees. There's no charge for USD deposits, but AUD deposits might incur a 1.5% to 3% fee.
  • Withdrawal Charges: eToro offers a flat $5 fee for fiat withdrawals to your bank. Crypto withdrawals vary in fees and are influenced by network traffic at the time.
  • Trading Rates: eToro applies a 1% fee in addition to the spread, the discrepancy between an asset's buying and selling prices, which can shift depending on the asset you trade.

For frequent traders or those with significant assets, eToro's tiered memberships could offer fee relief and benefits like specialised account management.

Closing Thoughts

In summary, Bendigo Bank's strategic approach empowers its customers to engage with the digital currency market through secure and compliant channels, specifically by facilitating fund transfers to accredited exchanges like eToro. This ensures that customers can explore digital investments while adhering to Australia's stringent regulatory frameworks, thus maintaining the integrity and security of their financial endeavors.

Author

Nick Ng is a skilled analyst at StacksOnChain with expertise in both cryptocurrencies and traditional finance. His research offer valuable insights into market trends and investment opportunities for readers.

View posts

Featured Guides

Learn more with some of the featured guides recommended by our analysts.

Dive into Berachain, where DeFi meets innovation through EVM compatibility, a novel liquidity consensus, and integrated DeFi applications.
Chris Wheelan
May 18, 2024
Research

What is Berachain?

Dive into Berachain, where DeFi meets innovation through EVM compatibility, a novel liquidity consensus, and integrated DeFi applications.

Explore how EigenLayer Restaked Points measure user contributions with ETH staked, impact EIGEN token distribution, and face geo-restrictions.
Richard Zhang
Apr 30, 2024
Research

What are EigenLayer Restaked Points?

Explore how EigenLayer Restaked Points measure user contributions with ETH staked, impact EIGEN token distribution, and face geo-restrictions.