Can I buy Crypto on St George Bank?
St George bank does not currently support the option to buy cryptocurrency directly on their banking platform. This is pretty common for most major Australian banks, as crypto is still relatively new. Most are yet to implement a crypto-purchasing feature on their websites and mobile apps.
Not to worry, there is an alternative and secure option for St George bank account holders to invest in cryptocurrencies. You can buy crypto using your St George account by linking it with a secure, regulated, and licensed cryptocurrency exchange like CoinSpot. For a comprehensive review of the platform and all its features, visit our CoinSpot Review.
How to buy Bitcoin and Crypto with St George
The best way to buy cryptocurrencies such as Bitcoin, Ethereum and Solana with St. George is through CoinSpot. They accept AUD deposits from St. George via PayID, POLi, Osko, Bank Transfer, Credit/Debit Card, BPAY, or Cash. Follow the guide below to get started.
- Open a free account on CoinSpot and verify your email address.
- Click 'Deposit Funds', select a method and transfer AUD from St. George.
- Go to the 'Markets' tab and open the 'BTC/AUD' market.
- Input the amount of AUD you want to invest in Bitcoin and tap 'Buy'.
St George Cryptocurrency Policy
St George has not made any official statements regarding their views on Bitcoin and has not publicly announced their stance on cryptocurrencies overall. They do not have any policies that would prohibit any of their users from trading any form of digital asset. St George bank users should not be concerned when investing in crypto as there have been zero reports of funds being frozen when transferring funds to an exchange.
Deposit & Trading Fees
When investing in cryptocurrencies on any exchange or brokerage platform, there are two fees investors need to consider.
- 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 St George bank account to your CoinSpot account, it is completely free. To make it better, CoinSpot has the lowest trading fees out of any Australian-based exchange, offering a competitively low 0.1%. Most cryptocurrency exchanges charge anywhere between 0.5% - 2%. Refer to the below photo for a detailed summary of CoinSpots Fees.
When looking to purchase cryptocurrencies with your St George bank account, CoinSpot is the best and most affordable option. They offer free AUD deposits and have some of the lowest trading fees in Australia. If you're still not sure, make sure to read our comprehensive review of CoinSpot before making any decisions.