We’re making changes to how payments to cryptocurrency exchanges work to help protect you from scams and keep your money safe.
What’s changing?
From 1 October 2025, payments to some cryptocurrency exchanges will be limited to $10,000 in total each calendar month across all your accounts. Once you reach the limit, any further payments will be declined until the next month, when the limit resets.
If you have a joint account, each account holder has their own separate $10,000 limit.
In some cases, payments to other high risk payment channels may also be restricted.
Why we’re making these changes
The Scam-Safe Accord is an industry-wide commitment to introduce stronger protections and reduce the impact of scams. As part of this, we’re taking extra steps to help keep your money safe.
Cryptocurrency investment scams are one of the fastest-growing types of scams in Australia. Scammers often trick people into sending money to cryptocurrency exchanges, where the funds can be much harder to trace and recover. By putting these measures in place, we’re helping to reduce the risk of scam losses and give you more confidence in your everyday banking.
Our terms and conditions will also be updated to reflect the change, effective 1 October 2025:
- Savings Accounts & Account Access Channels Terms and Conditions
- Section 6: Confirmation of Payee
- Section 10: Transaction Limits
- Section 44: Transaction Limit Restrictions
- Online Services Terms and Conditions
- Section 9: Transaction Limits
- Section 11.2: Confirmation of Payee
Frequently asked questions
A cryptocurrency exchange is an online marketplace where consumers can buy, sell, and trade cryptocurrency.
Through our commitment to the Scam-Safe Accord, we may limit the amount you can pay to certain accounts or merchants associated with cryptocurrency exchanges.
Payments to cryptocurrency exchanges may be limited to no more than $10,000 in total from all your accounts each calendar month.
If you have reached the payment amount limie, the transaction will be declined and you will receive an error message.
A message will appear in the BCU Bank app or internet banking advising that the payment has been blocked.
No, you don’t need to contact us. The payment has been declined and will not be processed. Any attempts to reprocess the same payment in the same way will continue to be blocked until the next calendar month.
For joint accounts, each account holder can make payments up to $10,000 from the same account, so long as this is within their own total limit of $10,000 across all their accounts for the calendar month.
We may limit the amount that you can pay to no more than $10,000 in total from all of your accounts each calendar month.
If you suspect a payment you’ve made is part of a scam, please contact us on 1300 228 228 as soon as possible.
There are no restrictions placed on withdrawals from cryptocurrency exchanges into customers’ accounts.
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