Westpac to Limit How Much Customers Can Send to Crypto Exchanges, With No Exceptions

A Westpac customer who buys crypto by sending Australian dollars from the bank to an exchange will, starting Dec. 1 , have a ceiling on how much of that money can go out each month. Westpac said on its website that from that date it “may limit payments we reasonably identify as being made to cryptocurrency exchanges to a $10,000 cumulative monthly limit.” The ceiling is A$10,000 for each customer in a calendar month, added up across the customer’s relevant Westpac accounts. Westpac listed Online Banking , the Westpac App , and credit and debit cards as the channels it may apply to, and said the products covered “may vary from time to time.” Each holder of a joint account gets a separate A$10,000.

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