NAB Bank and NAB Trade both do not offer services for their customers to buy or sell Bitcoin & cryptocurrency directly through their online banking platform.

NAB account holders will need to deposit AUD into a licensed digital asset exchange like eToro Australia to buy cryptocurrencies.

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Can I buy Crypto with NAB Bank or NAB Trade?

NAB Bank and NAB Trade do not support the option to buy cryptocurrency directly on their online banking platforms. Most major Australian banks are yet to implement this, but some like CommSec have recently announced plans to launch the crypto-investing feature in the near future.

Nevertheless, there are many alternative and secure options for NAB Bank account holders to invest in cryptocurrencies. Simply link your NAB Bank account with a secure, licensed cryptocurrency exchange like eToro.

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How to buy Bitcoin or Crypto with NAB Bank

The easiest and safest way to buy Bitcoin or Crypto is with eToro Australia because they offer the fastest AUD deposits from NAB Bank accounts.

Their platform lets you buy, sell and trade 40+ Cryptos, Stocks, ETFs, Commodities (Gold & Silver) and much more.

Step 1: Sign up to the eToro Australia trading platform.

Step 2: Select 'Deposit Funds' at the bottom of your dashboard once you have verified your Australian account.

AUD NAB Bank transfer

Step 3: Select 'Bank Transfer' as your payment method and 'AUD' as your fiat currency.

AUD NAB Bank trans

Step 4: Once you proceed, you will be given unique deposit details for a bank transfer. Sign into your NAB Online Banking account to transfer AUD to the deposit details provided by eToro.

Step 5: When the AUD arrives in your account, find the crypto asset you want to buy and execute your trade.

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NAB Bank Cryptocurrency Policy

NAB (National Australia Bank) does not have any policies that prohibit their users from trading any form of digital asset or cryptocurrency. NAB bank account holders should not be concerned when investing in cryptocurrencies.

NAB account holders transactions will not be stopped or frozen when sending to eToro or other licensed platforms because they are crypto-friendly.

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Deposit & Trading Fees

When investing in cryptocurrencies, there are two fees investors need to consider when depositing via NAB Bank.

  • Deposit Fee - This fee is charged when you deposit AUD¬†into the exchange
  • Trading Fee - This is the fee you will incur when trading your AUD for cryptocurrency

However when depositing Australian Dollars from your NAB Bank account to your eToro account, it is completely free. To make it better, eToro also do not charge any fees to trade cryptocurrencies, meaning you will pay zero fees when investing in crypto through their platform.

For a comprehensive review of eToro, please visit our eToro Review page.

Visit eToro Australia
Posted 
May 17, 2022
 in 
Crypto Banks
 category

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