St George Bank customers can easily buy Bitcoin in Australia by transferring funds to trusted crypto exchanges like bitcoin.com.au.
This guide covers how to set up your account, make a deposit, and purchase Bitcoin, plus key info on St George’s crypto policies and crypto tax considerations.
Step-by-Step Guide to Buying Bitcoin with St George Bank
1. Create your account
To get started, create a trading account with bitcoin.com.au or another trusted platform.
You’ll need to verify your identity by providing:
- Your full name, email and date of birth
- Proof of address (e.g. utility bill, bank statement, or government notice)
- ID and selfie (e.g. passport or driver’s licence)
This is to meet Australian regulatory standards and keep your account secure.
2. Deposit Aussie dollars from St George Bank
You can transfer AUD from St George to bitcoin.com.au using:
- Credit/debit cards – instant with Visa or Mastercard
- EFT bank transfers
- PayID
- PayPal
3. Buy Bitcoin with St George Bank
Once your funds land in your account:
- Log in to your account and go to the Trade screen.
- Select Bitcoin from the list of available cryptocurrencies.
- Enter how much AUD you want to spend.
- Select Buy Bitcoin.
- Review and confirm your order.
Your Bitcoin will appear in your bitcoin.com.au account after the trade is complete.
Below is an example of the mobile app interface.
St George Bank’s crypto policy & transfer limits
St George Bank does not offer cryptocurrency trading directly. However, customers can transfer AUD from their St George account to licensed cryptocurrency exchanges, subject to standard transfer limits and security checks.
- Daily transfer limit: $5,000 per payee
- First-time deposit delays: Up to 2 business days
- Instant options: Osko and PayID typically arrive within minutes
The default limit of $5,000 can be increased up to $100,000 through internet banking on or the St George Bank mobile app. Requests submitted before 4:00pm AEST (Monday to Friday) are typically processed the same business day.
Crypto tax obligations in Australia
The Australian Tax Office (ATO) generally treats crypto as an investment asset, similar to shares or property. This means that when you sell or trade crypto in a way that generates a profit, it may be subject to capital gains tax (CGT).
If you’re just buying and holding crypto without selling, trading, or using it for transactions, you won’t have to pay tax. But once you do, a crypto tax calculator can help you stay on top of what you owe.
Learn more about crypto tax obligations and tools.
Frequently asked questions
Are there any fees for buying Bitcoin using bank transfers?
- View our fee schedule for a list of all fees and charges.
Is St George considered crypto-friendly?
- Yes, St George is generally considered crypto-friendly bank. Learn more.
Can I withdraw AUD to my bank account from bitcoin.com.au?
- Yes, you can easily send AUD to your linked bank account.
Are there any limitations when it comes to using St George?
- St George Bank may delay your first deposit by 1 to 2 business days.
- Osko and PayID deposits are typically instant. EFT transfers may take up to 2 business days to process.
How much does it cost to buy Bitcoin in Australia?
The price of Bitcoin changes constantly based on market conditions, and you can view the current live price before placing your order. Importantly, you do not need to buy a whole Bitcoin. Bitcoin is divisible, which means you can purchase a fraction starting from as little as $50. This makes it accessible for beginners who prefer to start small and invest at their own pace.
