Summary: Unfortunately, Suncorp Bank does not support crypto trading directly through its internet banking portal. The only method available for Suncorp customers to buy cryptocurrency is by going through an AUSTRAC-licensed digital asset exchange.
Our expert team has thoroughly assessed all available choices and has identified CoinSpot as the best option for Suncorp clients. It provides several free AUD payment methods and has Australia's most competitive trading fees, beginning at just 0.1% to buy or sell Bitcoin. CoinSpot also provides a comprehensive suite of features, including staking, an NFT marketplace, a Crypto Mastercard and more.
Best Exchange for Suncorp Bank
Platform Highlights
- Instant and free AUD deposits via Suncorp Bank transfers with multiple deposit options.
- 370+ Cryptocurrencies to trade starting at 0.1% fees (industry-leading).
- Feature-rich with an NFT Marketplace, Crypto Staking platform, Crypto ETFs, SMSF Support and more.
Can I Buy Bitcoin with Suncorp?
No, Suncorp customers cannot buy cryptocurrency such as Bitcoin directly through the bank. However, it is possible to invest in digital assets by transferring AUD from a Suncorp bank account or card to a regulated and licensed cryptocurrency exchange in Australia. Once funds have been deposited on a secure AUSTRAC-licensed platform, you can directly buy and sell hundreds of tokens.
How to Buy Bitcoin or Crypto with Suncorp Bank
Suncorp Bank customers can securely buy and sell cryptocurrency like Bitcoin through Australia’s safest digital asset exchange, CoinSpot. Suncorp clients can deposit AUD to the platform via multiple payment methods such as PayID, POLi, BPAY, Osko, Credit/Debit Card, Bank Transfer or Cash.
Begin your cryptocurrency investing journey with this short guide:
- Create a free account on CoinSpot and complete the verification requirements.
- Click 'Deposit Funds', select a method and transfer money from Suncorp.
- Go to the 'Buy/Sell' tab, find the token you want and click 'Buy'.
- Input the AUD amount to invest and execute the trade.
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Is Suncorp Crypto-Friendly?
Suncorp is considered a crypto-friendly bank, as it doesn't enforce any rules preventing its customers from trading digital assets via AUSTRAC-registered exchanges such as CoinSpot. On the other hand, they might halt transactions towards unregulated exchanges like Binance or HotBit.
What is Suncorp Bank?
Suncorp Bank is an Australian bank serving more than nine million customers throughout the country. Suncorp has a long and proud history dating back to 1902 when it first began operations as the Queensland Insurance Company. Suncorp Bank is a subsidiary of Suncorp Group Limited, an ASX-listed company with more than $95 billion in assets.
The bank has experienced substantial growth throughout its history and currently provides a comprehensive suite of banking and financial services. These include savings and transaction accounts, credit cards, personal loans, home loans, car loans, term deposits, and superannuation. It also offers a variety of insurance products, covering areas from home to travel insurance.
Final Thoughts
To recap, Suncorp customers cannot invest in crypto directly through the bank’s platform but can access the asset class by utilising an AUSTRAC-registered digital asset exchange. As previously mentioned, we determined that CoinSpot is the best option for Aussie investors as it offers free and instant AUD deposits to trade over 380 cryptocurrencies with fees of just 0.1%.
