I was switching to that Up Bank (by Bendigo), but they straight refuse to let me fund my crypto account, so that's out because I just want basic control of my own money.
I also have a Bank Australia account, but, while they like to pat themselves on the back about sustainability, their service and product is crap, imo.
So what else you got?
Edit: Just realised I should probably have posted this to AusFinance, but ah well!
they straight refuse to let me fund my crypto account
Sounds like they're doing you a solid
Haha, I hear ya. But also, maybe not letting me use my own money how I want is a good argument for crypto? 🤷♂️ But they'd happily let me gamble my money away on a sportsball, or buy Funko Pops, so who's to say what should be 'allowed'.
Well, you're not wrong in that regard!
Gotta admit, everytime I see yet another news story about some idiot transferring their life savings to a Nigerian prince I find it very hard to agree that they should be refunded by the bank. Why is it up to the bank to compensate you for being an idiot? Take responsibility for your actions, damn.
I've tried a lot. My two current faves are Macquarie and Up. Just realised I haven't changed for ages so they must be good.
Are Up giving you a reason for not accepting the transfer? I haven't transferred any to my crypto provider for a while, but it used to work fine
Yeah, seems like a blanket rule with Up. They said:
"Your account has been reviewed and unfortunately we are unable to allow you to proceed with payments to cryptocurrency exchanges. We apologise for the inconvenience, however the financial safety of our customers and community are our top priority."
Up initially blocked my payment, but after reaching out to them, I encountered no problems with crypto exchanges. Is it possible that they only restrict new accounts?
It has been about 6 months since I've used crypto so it could also be a new rule.
Yeah, I reached out to them straight away and that was their response. They didn't say anything when I then asked to close the account, so fuck em.
As someone that’s been with them for almost 3 years, this is actually really encouraging to hear. Crypto exchanges fail often, and the exchange rate is usually volatile. I’m glad I get to keep my high savings rate because they don’t take risks. To each their own though!
I just dont see how its a risk for them to ask 'are you sure?' and I say 'yes, thanks, I'm an adult'. Risk averted.
