Summary: Bank of Melbourne clients looking to invest in cryptocurrencies like Bitcoin, Ethereum, Solana etc should use Australian regulated platforms like eToro and Uphold. They are designed for ease of use, safety and are perfect to use for less experienced cryptocurrency investors. The registration process only takes 2 minutes and users can then fund their account via bank transfer or credit/debit card deposit.
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If you're a Bank of Melbourne customer, although you aren't able to make cryptocurrency purchases directly via the bank, there are still ways for you to buy digital assets.
By connecting your bank account or linking your credit or debit card to a regulated cryptocurrency exchange such as eToro or Uphold, you can indirectly purchase cryptocurrency via these third-party providers.
To get started with buying and selling cryptocurrencies like Bitcoin, Ethereum, and Solana, the first step is to sign up for a safe and regulated exchange such as eToro or Uphold.
We highly recommend using either of these platforms, particularly for beginner traders, as they are user-friendly and offer hundreds of cryptocurrencies to trade.
Signing up for eToro or Uphold is quick, easy and completely free. Once signed up, users can connect their Bank of Melbourne account to make their first deposit.
Bank deposits (ACH) are available free of charge, while credit/debit card transfers incur some fees. Once your funds have been credited to your account, you can then start buying and selling various cryptocurrencies offered on the platform.
Bank of Melbourne does not specialize in providing any products or services associated with the cryptocurrency industry. Despite this, Bank of Melbourne's customers are permitted to register with regulated cryptocurrency exchanges and deposit funds to purchase or sell cryptocurrencies like Bitcoin and Ethereum.
Customers of Bank of Melbourne are permitted to make use of their debit or credit cards to deposit fiat currencies to regulated cryptocurrency exchanges.
We strongly advise our readers to use regulated exchanges as this can reduce the potential risk of encountering issues when depositing or withdrawing funds.
While Bank of Melbourne does not offer any services related to cryptocurrencies, it still holds a crypto-friendly position in the market. It's customers can seamlessly connect their bank accounts or link their debit cards to regulated third-party exchanges to buy and sell cryptocurrencies.
Moreover, the Bank of Melbourne is known for not restricting deposits and withdrawals to and from regulated exchanges.
The Bank of Melbourne is a prominent financial institution based in Victoria, Australia, providing comprehensive banking services to individuals and businesses.
The bank operates as a subsidiary of the Westpac Group, one of Australia's 'big four' banks. It was initially established in 1989 as a building society, but it gained its full banking licence in 1997.
The bank then went through a series of mergers and acquisitions, eventually being absorbed into Westpac in 1997. In 2011, Westpac re-launched the Bank of Melbourne brand, seeking to provide a local banking alternative with a distinctive Victoria flavour.
The bank operates over 100 branches and more than 300 ATMs across the state of Victoria, with its operations primarily focused in this area.
The Bank of Melbourne offers a comprehensive range of financial products and services. For individuals, these include savings and transaction accounts, personal loans, home loans, credit cards, and insurance products.
For businesses, the Bank of Melbourne provides a variety of products such as business loans and finance, transaction accounts, merchant services, treasury and foreign exchange services, and industry-specific banking solutions.
+3000 Cryptos, Stocks, ETFs
0% Fees on Stocks & ETFs
30M Users & 140 Countries
Regulated & Safe Platform
