From December 1, Westpac may cap payments identified as going to cryptocurrency exchanges at A$10,000 per month across customers’ relevant accounts and payment methods. Branch payments to identified exchanges will end, while withdrawals from cryptocurrency exchanges into Westpac accounts will remain unchanged. Transfers through the app, online banking and cards will share the same cumulative monthly allowance. Westpac says the policy includes no exemptions or limit increases and presents the restrictions as a response to cryptocurrency scam risks.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
