Summary: The best and most affordable way to buy cryptocurrency with your St. George bank account is by going through a centralised cryptocurrency exchange like CoinSpot.
They offer free AUD deposit methods for St George Bank account holders to trade and stake over 350 cryptocurrencies including Bitcoin, Ethereum, Avalanche and Cardano.
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Can I buy Crypto and Bitcoin with 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.
How and Where to buy Crypto with St George
The best way to buy cryptocurrencies such as Bitcoin, Ethereum and Solana is by going through CoinSpot. They are the most secure cryptocurrency exchange in Australia with over 350 cryptocurrencies to invest in and offer they offer free deposits for St George bank account holders.
Follow the guide below to get started.
- Sign up to CoinSpot
- Complete your KYC and press 'Deposit AUD' in the dropdown menu
- Select Direct Deposit (OSKO) and copy/paste the details into your St George bank account
- Send the amount of AUD you wish to invest and the amount will reflect at the top of the screen under 'Account Funds' within minutes
St George Crypto Policy
St George have not made any official statements regarding their views on Bitcoin and have 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 or cryptocurrency.
St George bank account holders should not be concerned when investing in cryptocurrencies as there have been zero reports of funds being frozen when transferring to a cryptocurrency exchange.
Deposit & Trading Fees
When investing in cryptocurrencies on any exchange or brokerage platform, there are two fees investors need to consider when depositing via St George.
- 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% - 1%.
For a comprehensive review of CoinSpot and all its features, please visit our CoinSpot Review page. There you will find details on staking, NFTs, Bundles and much more.