Understanding cryptocurrency payments

Your security is our priority and we’re committed to helping protect customers from scams and fraud.

Cryptocurrencies and the exchanges on which they’re bought and sold present a high scam and fraud risk as they’re frequently used by scammers to obtain funds from their victims.

The rise in cryptocurrency scams has led to significant financial losses for many Australians, with cryptocurrency investment scams being a major contributor.

To help protect you from potential scams and financial losses, we may block payments to BSBs that we assess as being high-risk, predominantly where they house accounts belonging to cryptocurrency exchanges.

We suggest reaching out to the cryptocurrency exchange you are intending to pay to discuss alternative payment methods. 

If the exchange that you are using offers PayID^® as a way to deposit funds into your account with them, you can use that payment method from your Macquarie Transaction or Savings Account.

You can find out more about Pay ID here.

PayID^® is a registered trademark of NPP Australia Limited.

Your Macquarie Bank account can receive payments from cryptocurrency exchanges. However, individual cryptocurrency exchanges may have their own restrictions on transfers.

If you’re unsure, you should reach out to your chosen cryptocurrency exchange to understand what restrictions they may have on payment requests.