Buy Bitcoin with Bank of Queensland

[✓] last verified 2026-01-28·Reviewed by BankToBTC Team

Data from bank docs & AUSTRAC registers · How we verify · Report an error

$5K AUD/month cap since April 2025.

Supported payment methods: osko, bpay

Last verified: Jan 28, 2026

Top Exchanges for Bank of Queensland

• Kraken
• CoinSpot
• Binance

Step-by-step guide to buying Bitcoin with Bank of Queensland

With Bank of Queensland, OSKO/PayID to an AUSTRAC registered exchange is the usual AUD path. Here is how to get started.

1. Pick an AUSTRAC-registered exchange
   Use an AUSTRAC-registered exchange for PayID deposits.
2. Create your exchange account
   Register and enable two factor authentication.
3. Complete identity verification
   Verify identity so deposits are enabled.
4. Copy PayID and reference
   Get the PayID and any reference from the exchange deposit screen.
5. Send PayID in the BOQ app
   Open the BOQ app, tap Pay then PayID, enter the PayID, confirm the payee, and approve.
6. Wait for funds to arrive
   Osko PayID is typically instant, but card purchases can be declined on crypto merchant codes.
7. Purchase Bitcoin
   Buy BTC after the deposit is credited.
8. Secure your Bitcoin
   Move BTC to a wallet if you want self custody.

Frequently Asked Questions

Can I buy Bitcoin with Bank of Queensland?

Yes. BOQ customers can fund exchanges like CoinSpot, Kraken, Binance, or Independent Reserve using PayID or a standard bank transfer from the myBOQ app. BOQ states the standard PayID daily limit is fixed at a maximum of $5,000, so larger deposits may need splitting. BOQ also says it does not support POLi, so do not rely on POLi-based instant verification flows.

Why is the BOQ PayID limit stuck at $5,000 even if I raise my other limits?

BOQ's myBOQ app FAQs state the standard PayID daily limit is fixed at a maximum of $5,000. That means you can increase Pay Someone or BPAY limits, but PayID stays capped. If you need to move more, split deposits across days or use a different payment type supported by the exchange.

BOQ says it doesn't support POLi. What should I use instead for exchange funding?

BOQ states it does not support third-party apps such as POLi. If an exchange pushes POLi as the quick option, skip it and use PayID or a BSB and account number deposit instead. This avoids credential-sharing risk and keeps the deposit inside your bank's normal payment flow.

What cut-off time applies to BOQ Pay Anyone transfers to other banks?

BOQ's Pay Anyone FAQ lists a 5:00pm (AEST) business-day cut-off for Pay Anyone and Multi Payments requests. If you send after cut-off or on a non-business day, the crediting timing shifts out. If speed is the priority, try PayID first (within the $5,000 cap).

Can I use BPAY from BOQ to fund a crypto exchange?

Yes, if the exchange provides BPAY details (Biller Code and Customer Reference Number). BOQ provides BPAY help content for using the service, but BPAY is best treated as slower than PayID. Use BPAY when you are fine waiting for business-day processing.

Why do BOQ card deposits show as "pending" for days on some crypto merchants?

BOQ notes that pending transactions can take up to 5 days to clear and appear on your statement, depending on how the merchant finalises settlement. That can be painful for crypto because you need the funds available before you can trade. If you want funds credited quickly, bank transfer is usually the better option.

Evidence & Verification

This page references 4 sources: BOQ App & Limits FAQ, BOQ Pay Anyone FAQ, BPAY Support. Information was compiled from official sources and user reports.

Sources:

• BOQ App & Limits FAQ
• BOQ Pay Anyone FAQ
• BPAY Support
• AUSTRAC Exchange Register

How we verify · Report an error

Information can change without notice. Always verify current policies directly with your bank and exchange before making transactions.