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What is Bankwests official position on Bitcoin and other Cryptocurrencies?

Posted by leavebitcoinalone leavebitcoinalone
Message 1 of 3 2,075 Views

NAB, ANZ, Commonwealth and Westpac have all been targetting cryptocurrency exchanges, freezing their accounts or setting limits. This doesn't seem acceptable at all if you want people to adopt cryptocurrency in a safe way.

So what is Bankwests official position on Bitcoin and other Cryptocurrencies? Do they plan to target exchange owners? Would they do these things to regular investors?

I need to find out if Bankwest is crypto-friendly, if not i need to find another bank ASAP.

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Re: What is Bankwests official position on Bitcoin and other Cryptocurrencies?

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Posted by PaulaD PaulaD
Message 2 of 3 1,958 Views

Bankwest operates as a division of the Commonwealth Bank of Australia, as it was purchased by the CBA back in '08. I would imagine that the policies of BW would be inherited from it's parent company (as a conservative default assumption). I'm also interested in BankWest's official position on cryptocurrency, as I'd rather operate on information rather than assumption. Thanks for the question! Bankwest...? Anyone...?

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Re: What is Bankwests official position on Bitcoin and other Cryptocurrencies?

Posted by DanaeC DanaeC
Message 3 of 3 1,884 Views

Hi @leavebitcoinalone & @PaulaD, thanks for your patience whilst I've looked into this for you.

I can confirm that Bankwest does not currently, actively block any specific crypto currency trades/transactions. However, we will always reserve the right to take action on any potentially inappropriate transactions, as it is our priority to ensure the security of our customers' funds.

Hope this helps!

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