Buy Crypto with Heritage Bank

Can I Buy Bitcoin with Heritage Bank?

Heritage Bank does not support Bitcoin or other cryptocurrency transactions via its services. For safe acquisition of digital currencies, customers of Heritage Bank can sign up with a cryptocurrency trading platform in Australia approved by AUSTRAC, the country's finance regulatory authority. Australian investors can transfer their funds to these licensed exchanges to purchase, trade, and store crypto assets.

‍

How to Buy Crypto with Heritage Bank

If you're contemplating diving into the digital currency market using Heritage Bank, our advice is to utilise a reputable, ASIC-approved platform such as Kraken. This exchange allows for swift and cost-free AUD transfers from Heritage Bank accounts using a variety of deposit methods, including PayID, Osko, bank transfers, and debit and credit cards, among others.

Australian investors can safely acquire cryptocurrency with Heritage Bank by adhering to these steps:

1. Account Creation: Initiate by setting up an account on Kraken. Complete the necessary verification steps for individuals, businesses, or SMSFs.
2. Currency Selection: Choose the desired deposit currency (AUD) on the Kraken platform.
3. Initiating the Deposit: Select your preferred payment method (such as PayID, bank transfer, or Credit Card) and finalise your deposit.
4. Cryptocurrency Purchase: The last step involves picking the cryptocurrency you want and completing your transaction.

Heritage Bank Cryptocurrency Policy

‍Heritage Bank takes a measured yet forward-thinking approach in regard to cryptocurrency. It allows its customers to delve into the realm of digital assets via platforms approved by the Australian Securities and Investments Commission (ASIC). In the local market, Kraken is considered a reliable platform, in alignment with ASIC regulations, recognised as a Digital Currency Exchange (DCE) with an ACN 163 237 634.

Although Heritage Bank does not directly provide cryptocurrency services, it does not prevent its clients from purchasing or trading digital assets on an AUSTRAC or ASIC-registered exchange. This indicates that the bank holds an affirmative view on digital currencies. However, it should be noted that the bank reserves the right to suspend transactions to unregulated platforms.

‍

What is Heritage Bank?

Heritage Bank is a leading customer-owned bank in Australia, known for its strong focus on creating and delivering personalised financial solutions. Its origins dating back to 1875, it was initially established as the Toowoomba Permanent Building Society and has since evolved into one of Australia's largest customer-owned banks. It offers various financial products and services, such as savings accounts, loans (including home loans, personal loans, and car loans), credit cards, insurance, and wealth management. 

Headquartered in Toowoomba, Queensland, Heritage Bank operates a vast network of branches throughout Queensland and offers digital banking services nationwide. The bank's business philosophy is based on social responsibility, community support, and delivering high customer service standards. Its commitment to these values has positioned Heritage Bank as a significant competitor in the Australian banking sector.

Final Thoughts

To recap, Heritage Bank does not directly support cryptocurrency transactions through its platform. However, its clients can deposit AUD into a certified digital asset exchange to venture into cryptocurrency investments. For Heritage Bank customers, the preferred platform is Kraken due to its swift and zero-cost AUD deposits, competitive trading fees and extensive selection of assets.