Buying virtual cryptocurrencies

Can I buy virtual currencies using my Bankwest credit card?

Due to the unregulated and risky nature of virtual currencies such as Bitcoin, Bankwest customers will no longer be able to use their credit cards to buy virtual currencies effective 14 February 2018.

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Frequently asked questions

Info at your fingertips 

1

Why is Bankwest making this change?

Given the risk associated with the relative immaturity and volatility of these currencies seen in recent months, we will no longer authorise payments on credit cards to protect our customers.

As the virtual currency market develops and becomes better regulated, we may review our position.

2

Are other Australian Bank’s authorising these payments?

In line with Commonwealth Bank, Bankwest will not authorise payments on credit cards for virtual currency merchants.

Other financial institutions will act according to their risk appetite.

3

Can I still get credits paid to my credit card?

Yes, credits will continue to be authorised by the Bank onto credit cards.

Need more help?

You can message us in the Bankwest App or online banking, or call us - we're here 24/7.