CHANGES TO PAYMENTS TO CRYPTOCURRENCY EXCHANGES
What's changing?
From 1 December 2026, we may limit payments we reasonably identify as being made to cryptocurrency exchanges to a $10,000 cumulative monthly limit.
Why we're introducing this limit
Criminals are increasingly encouraging people to send money using cryptocurrency, where it can be very difficult to get your money back once it’s been sent. National Anti-Scam Centre data shows almost half (46%)* of reported scam losses last year involved cryptocurrency. For more information about scams, see Types of Scams & Fraud.
How this limit works
Westpac is introducing a $10,000 cumulative monthly limit on payments we reasonably identify as being made to a cryptocurrency exchange. The limit only applies to cryptocurrency exchanges identified by Westpac at the time the payment is made. Not all cryptocurrency exchanges and payment details accepted by individual exchanges may be included.
Once you reach the limit
If your cryptocurrency payments reach $10,000 in a calendar month, additional eligible payments to Westpac identified cryptocurrency exchanges may be rejected until the next calendar month begins.
Frequently asked questions
We may reject payments that exceed the $10,000 cumulative monthly limit.
The limit may be applied to payments made using:
- Online Banking
- Westpac App
- Credit card; or
- Debit card.
Where we have identified payments to cryptocurrency exchanges using an applicable product and channel, it may be applied across all of your relevant products and payment methods within a calendar month.
The relevant products and payment methods subject of the limit may vary from time to time.
Payments we reasonably identify as payments to cryptocurrency exchanges made in-branch will not be supported from 1 December 2026.
Each account holder has their own $10,000 cumulative monthly limit.
For example, if you hold a joint account, each account holder can make cryptocurrency payments up to their own $10,000 cumulative monthly limit across their relevant products and payment methods.
The $10,000 cumulative limit may apply to the total value of payments to Westpac identified cryptocurrency exchanges made across all of your relevant products and payment methods within a calendar month.
Yes. Withdrawals from cryptocurrency exchanges into your Westpac account aren't changing.
You should check directly with the cryptocurrency exchange for any restrictions that may apply.
No. Exemptions and limit increases aren't available for the $10,000 cumulative cryptocurrency payment limit.
No. Westpac, at its discretion, may limit payments using an applicable product and channel it reasonably identifies as being made to cryptocurrency exchanges to $10,000 per calendar month but does not guarantee that payments in excess of this will not occur.
Things you should know
* Source: Anti-Scam Centre, Targeting Scams Report 2025, March 2026
This information is general in nature and has been prepared without taking your personal objectives, circumstances and needs into account. You should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.