Summary: Union Bank customers cannot directly buy digital assets such as Bitcoin and Ethereum via their online portal, as the bank doesn't offer cryptocurrency investment services. To purchase cryptocurrencies with Union Bank, transfer USD from your account to a reliable third-party digital asset exchange that is licensed by US regulators.
Based on our analysis, we found that Uphold is the top pick for Union Bank account holders as they offer instant USD deposits to trade over 250 crypto assets with zero fees. They are a New York based platform that is licensed and regulated by FinCEN in the US.
- Free and instant USD deposits via US Banks to Trade & Stake 250+ Cryptocurrencies.
- Regulated by FinCEN in the USA with audited Proof-of-Reserves.
- Feature-rich platform with Crypto Staking, a Crypto Card, DCA-investing and much more.
Can I Buy Crypto with Union Bank?
Yes, Union Bank allows its customers to transfer US Dollars (USD) and other currencies from their bank accounts to cryptocurrency exchanges regulated by the Financial Crimes Enforcement Network (FinCEN) within the USA. However, Union Bank does not provide any specific services or products that enable direct buying or selling of digital assets through their online banking portal. Consequently, for digital asset transactions, customers must utilize a regulated external exchange using their Union Bank accounts.
How to Buy Bitcoin and Crypto with Union Bank
Union Bank doesn't directly facilitate cryptocurrency trading. The most straightforward way to buy Bitcoin or other cryptocurrencies using your Union Bank account is through a licensed platform like Uphold US. They allow fast, fee-free USD deposits via ACH Transfer, debit card, credit card and other methods from your Union Bank account.
You can follow the simple guide below to get started:
- Sign Up: Open a free account on Uphold and complete the verification process.
- Connect Account: Select USD as the currency you want to deposit on the Uphold.
- Deposit Funds: Connect your Union Bank account or card to quickly deposit USD.
- Buy Crypto: Find the cryptocurrency you want to buy and execute your trade.
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Union Bank Digital-Asset Policy
Yes, Union Bank is crypto-friendly. They permit customers to transfer funds to cryptocurrency exchanges that are licensed and regulated by the Financial Crimes Enforcement Network (FinCEN) in the United States. This allows Union Bank customers to invest in digital assets with confidence, provided they use compliant and secure trading platforms.
About Union Bank
Union Bank, officially known as MUFG Union Bank, is a full-service bank with branches across the United States, particularly concentrated on the West Coast. It's a subsidiary of the Japanese financial group Mitsubishi UFJ Financial Group (MUFG), one of the world's largest and most diversified financial groups.
Union Bank offers a wide range of financial services, including checking and savings accounts, loans, credit cards, investment services, and commercial banking solutions. The bank serves both individual customers and businesses, providing tailored solutions to meet their financial needs.
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Final Thoughts
Although Union Bank doesn't facilitate direct cryptocurrency purchases, it does support its clients in their digital asset ventures by allowing USD transfers to FinCEN-regulated cryptocurrency exchanges. Uphold US, an exchange known for its instant, zero-fee USD deposits and a wide array of crypto trading options, is a top choice for Union Bank customers. Union Bank's crypto-friendly policy underscores their commitment to providing customers with a secure pathway to the dynamic world of digital assets.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
