A$10,000 a month from December 1, with no exceptions.
Westpac will limit payments it identifies as going to crypto exchanges.
The cap is per customer, per calendar month, across all Westpac accounts.
It counts online banking, the Westpac app, and credit and debit cards.
Each holder of a joint account gets a separate A$10,000 monthly limit.
Paying a crypto exchange at a Westpac branch stops on December 1.
Westpac will grant no exemptions and no higher limits to anyone.
Withdrawals from exchanges into Westpac accounts are unchanged.
The bank cites scam data: crypto was tied to 46% of reported scam losses.
Westpac trialled blocks on some crypto payments back in May 2023.
Commonwealth Bank planned the same A$10,000 monthly cap in 2023.
What counts toward the cap, and what happens next. Tap to read.
Get the full breakdown, key numbers, and what happens next.
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