Summary: Union Bank clients can securely venture into the realm of digital assets. While the bank doesn't directly offer cryptocurrency trading, it facilitates transfers of USD to regulated exchanges. Customers should select platforms overseen by the Financial Crimes Enforcement Network (FinCEN) to ensure asset security and regulatory compliance in the United States.

Our research pinpoints eToro as the preferred choice as it offers free and instant USD deposits from Union Bank accounts and cards. This FinCEN-regulated exchange supports a wide range of assets, including popular digital currencies like Ethereum and Polygon. eToro is a social trading platform that offers unique features like CopyTrader, which allows users to automatically mimic the trades of successful investors.

Table of Contents

Can I Buy Bitcoin with Union Bank?

Absolutely, although Union Bank doesn’t offer a direct channel for buying or selling Bitcoin, it facilitates secure transfers to recognized crypto exchanges operating within the U.S. Customers must select a platform registered with the Financial Crimes Enforcement Network (FinCEN), ensuring compliance with USA financial laws and regulations. After transferring USD to an exchange, customers can swap their funds for various cryptocurrencies.

How to Buy Crypto with Union Bank

The best way for Union Bank account holders to invest in cryptocurrency is by sending USD to a regulated exchange. We recommend eToro as it offers fast and free US Dollar deposits from Union Bank through methods like ACH Transfer, wire transfer, PayPal, or debit and credit cards. Once your funds have reached your account, you can invest in a diverse range of crypto assets like Arbitrum or Ripple.

Start your digital currency investing journey with these simple steps:

  1. Set Up Your Account: Sign up for a free account on eToro and go through the verification steps.
  2. Fund Your Account: Click on 'Deposit Funds', select ‘USD’ as your preferred currency, and transfer funds from Union Bank. 
  3. Choose a Cryptocurrency: Navigate to the cryptocurrency of your choice using the platform's search function and select 'Trade'. 
  4. Make the Investment: Enter the amount in USD you wish to invest and confirm the transaction by clicking 'Buy'.
How to Buy Crypto with Union Bank.
How to Buy Crypto with Union Bank.

Union Bank Cryptocurrency Policy

‍Union Bank has an innovative approach regarding cryptocurrency, enabling its customers to join this investment landscape through platforms that adhere to the guidelines of the Financial Crimes Enforcement Network. We recommend eToro for its regulation with FinCEN, demonstrating its commitment to meeting the stringent regulatory standards of the US. The headquarters of eToro is at 221 River Street, 9th Floor, Hoboken, NJ 07030, USA.

Digital Asset Investing Fees

Investors exploring the world of digital assets should familiarize themselves with the common costs associated with trading to improve their investment approach. Here's a breakdown of the potential fees encountered on trading platforms:

  • Transaction Fees: Most trading platforms, including eToro, typically impose a fee near 1% for buying or selling digital currencies.
  • Deposit Expenses: The cost for adding funds depends on the payment method. Transferring funds using bank or ACH transfers usually incurs lower fees compared to using credit or debit cards.
  • Withdrawal Costs: Fees for transferring tokens from the platform can differ based on the specific digital currency. For instance, Bitcoin withdrawals often have a set fee, generally about 0.0005 BTC. 

Union Bank customers interested in digital currency trading may find eToro an attractive option due to its diverse asset offerings and competitive fee structure. Regulated by various U.S. financial authorities, it provides a secure platform, giving investors an added level of assurance.

What is Union Bank?

Union Bank is a major financial institution that operates primarily in the western United States. With a history tracing back to the early 20th century, it represents a key player in the American banking sector. Known for its comprehensive range of financial services, the bank caters to both individual and corporate clients, offering products like savings and checking accounts, loans, mortgages, and investment services. 

The bank is committed to technology and innovation, providing digital banking solutions to meet the evolving needs of its customers. Union Bank focuses on personalized service and community engagement, making it a trusted name in the American banking landscape. It recently rebranded as U.S. Bank, offering an expanded network of locations and ATMs. This transformation means more accessibility and convenience for customers, who are always the top priority.

Union Bank.
Union Bank: Home Page.

Final Thoughts

The bottom line is, Union Bank facilitates cryptocurrency purchases by allowing transfers to FinCEN-regulated digital asset exchanges. Following a detailed examination of the top options, we found eToro is the best option for its free USD deposits, a wide range of assets, low fees, and live customer support. It currently serves over 30 million users across the United States and is considered the country’s most secure trading platform.