Can I buy Crypto on Heritage Bank?
Unfortunately, Heritage Bank does not offer a cryptocurrency-investing feature directly on its banking platform. Not to worry, there are many safe alternative ways to investing in cryptocurrencies with a Heritage Bank account. Simply transfer Australian dollars from your Heritage Bank account to a secure, regulated and licensed cryptocurrency exchange.
We recommend going through the CoinSpot platform. CoinSpot is Australia's best and largest crypto exchange that offers multiple features including Bundles (similar to ETFs), an NFT marketplace, crypto staking and much more. To learn more about CoinSpot, you can visit our CoinSpot review.
How to buy Crypto with Heritage Bank in Australia
This guide shows Aussies the easiest way to invest in cryptocurrencies with a Heritage Bank account. Heritage Bank account holders can fund their CoinSpot accounts via multiple methods including credit/debit card, bank transfer, Osko, POLi, PayID, BPAY and cash deposit. Follow the below steps to get started.
- Sign up to the CoinSpot exchange and complete verification.
- Click 'Deposit Funds' in the top left hand corner of your screen and choose the method you want to transfer funds through.
- Once your AUD has arrived, search for the cryptocurrency you want to buy in the 'Buy/Sell' tab.
- Enter the amount you want to spend and tap 'Buy'.
About Heritage Bank
Heritage Bank is a customer-owned bank based in Toowoomba, Queensland, Australia. The bank was founded in 1875 and has been serving the community for over 140 years. Heritage Bank offers a range of banking products and services including savings and transaction accounts, personal and home loans, credit cards, foreign exchange, insurance, and investment products.
Is it expensive to buy Cryptocurrencies?
This depends entirely on what platform you use to invest in cryptocurrencies, some exchanges like Coinbase will charge 2%+ just to trade cryptocurrencies plus an additional 4-5% to deposit AUD on the exchange. But not all exchanges charge high fees, in fact, CoinSpot is Australia's largest cryptocurrency investing platform and offers the lowest fees available.
On CoinSpot, the trading fees are 0.1% (lowest in Australia) for Market Buy and 1% for Instant Buy. As for deposits, the fees vary depending on what deposit method you use. Refer to the list below for a breakdown of CoinSpots deposit fees:
- POLi, PayID, Osko, Bank Transfer - Instant & Free
- BPAY - 0.9% & 0-2 business days
- Cash - 2.5% & Instant
- Card - 2.58% & Instant
For a full breakdown of CoinSpots fees, we recommend visiting its Fees Schedule.
Heritage Bank Cryptocurrency Policy
Although Heritage Bank doesn't offer the ability to invest in cryptocurrencies directly on its platform, this doesn't mean it's opposed to digital assets. Heritage Bank is considered 'Crypto-friendly' and there have been zero reports of Heritage Bank account holders funds being frozen when transferring to a crypto exchange. Heritage Bank has nothing stated in its policies that would prohibit its users from investing in digital assets.