Key Takeaways: Unfortunately, Macquarie Bank does not allow the direct investing of cryptocurrencies through its banking platform. However, there are alternative methods to investing in crypto with the funds in your Macquarie bank account. Simply transfer AUD from your bank to a regulated and licensed cryptocurrency exchange.
We recommend using the eToro platform to invest in cryptocurrencies with a Macquarie Bank account. It offers free and instant AUD deposits for Macquarie Bank users. In addition to cryptocurrencies, eToro users can purchase stocks, ETFs, commodities, indices and fiat currencies. To learn more about eToro you can visit our eToro Review.
- Trade 80+ cryptos and 8,000+ stocks, ETFs and more.
- Free & Instant AUD deposits with Macquarie Bank transfers.
- Licensed by ASIC and AUSTRAC as a digital asset exchange service provider.
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What is Macquarie Bank
Macquarie Bank is the largest bank in Australia by market capitalisation, and the fourth largest bank by market share. Macquarie Bank was founded in 1969 as Hill Samuel Australia Limited, a subsidiary of the UK's Hill Samuel & Co. Macquarie expanded rapidly in the 1970s and 1980s, culminating in its listing on the Australian Stock Exchange in 1985.
Today, Macquarie Bank provides a full range of banking and financial services products to its clients, including personal banking, business banking, corporate banking, institutional banking and wealth management. Macquarie Bank is a strong and stable institution, with a long history of profitability and growth. It remains one of the most trusted brands in Australia, and is well-positioned to continue its success into the future.
How to buy Bitcoin & Crypto with Macquarie Bank
The best and most secure way to invest in cryptocurrencies like Bitcoin and Ethereum with a a Macquarie Bank account is through eToro. The platform supports multiple deposit methods for Macquarie Bank users including Bank Transfer, Credit/Debit Card, PayPal, POLi, Skrill & Neteller. Follow the guide below to get started.
- Sign Up: Create an account on eToro Australia and complete the verification process.
- Deposit AUD: Pick a method, and transfer funds to eToro from your Macquarie Bank account.
- Find Bitcoin: Look for 'Bitcoin' in the search bar and click 'Trade'.
- Buy BTC: Input the amount of AUD you want to invest and tap 'Opem Trade'.
What are the fees to invest in cryptocurrencies?
When using the eToro exchange, the fees are relatively low compared to other exchanges. eToro offers free AUD deposits for Macquarie Bank account holders and a small $5 fee for withdrawals to bank accounts. The only other fee eToro charges is a flat 1% fee every time you buy or sell cryptocurrencies on the platform.
Macquarie Bank Cryptocurrency Policy
As at time of writing, Macquarie Bank does not have any policies that would prohibit their account holders from trading cryptocurrencies. This ultimately means that Macquarie Bank will not stop you from depositing or withdrawing funds from licensed digital asset exchanges. Users will have no issues transferring between the two platforms.
Additionally, eToro is one of the most secure cryptocurrency exchanges globally and has acquired the proper licensing to operate in Australia. The platform operate under the name eToro AUS Capital Limited (“eToro Australia”) ABN 66 612 791 803. It holds an Australian Financial Services Licence, number 491139 issued by the Australian Securities and Investments Commission.