Buy Bitcoin with Commonwealth Bank

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

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

$10K AUD/month limit with mandatory 24-hour holds.

Crypto Compatibility Score: 50/100 (Fair)

Score Breakdown:

  • Payment methods: 20/35 pts
  • Bank transfer reliability: 19/25 pts
  • Limits: 16/20 pts
  • Cost: 8/10 pts
  • Evidence: 7/10 pts
  • Penalties: -6 pts
  • Crypto policy: Restrictive policy (-10)

Supported payment methods: osko, bpay

Last verified:

Quick Verdict

CommBank doesn't sell crypto and caps exchange payments at $10,000/month. Use PayID or Osko to fund an AUSTRAC-registered exchange within that limit.

  • [✗]

    Can you buy Bitcoin in the app?

    No, use an external exchange

  • [✓]

    Can you fund an exchange?

    Yes, but with restrictions

  • [›]

    Best funding method

    PayID/Osko

  • [!]

    Potential issue

    $10,000 monthly cap on crypto payments

Top Exchanges for Commonwealth Bank

Step-by-step guide to buying Bitcoin with Commonwealth Bank

CommBank customers usually buy Bitcoin by sending OSKO/PayID to an AUSTRAC registered exchange. Follow our guide below.

  1. Pick an AUSTRAC-registered exchange
    Use an AUSTRAC-registered exchange for clean PayID funding and to reduce scam warnings.
  2. Create your exchange account
    Register and enable two factor authentication.
  3. Complete identity verification
    Verify identity before depositing.
  4. Copy the PayID deposit details
    Get the PayID and any reference details from the exchange deposit screen.
  5. Send PayID in the CommBank app
    Open CommBank, tap Pay then PayID, enter the PayID, confirm the payee name, and approve; expect scam warning prompts.
  6. Wait for funds to arrive
    Osko PayID is often instant, but CommBank may apply holds on first crypto payments or near the $10,000 monthly cap.
  7. Purchase Bitcoin
    Buy BTC after your deposit is credited.
  8. Secure your Bitcoin
    Withdraw to a wallet if you plan to hold long term.

[!] Troubleshooting

  • If a payment is blocked, check the monthly cap. CommBank has capped crypto exchange payments at $10,000 per month.
  • If you get scam warnings on first-time transfers, complete the prompts and then retry a smaller amount.
  • If your PayID is pending, confirm the payee details and wait for any security review to clear.

Frequently Asked Questions

Can I buy Bitcoin with Commonwealth Bank?

Yes. You can fund AUSTRAC-registered exchanges like CoinSpot, Kraken, Binance, or Independent Reserve using PayID or a BSB and account number transfer from the CommBank app or NetBank. CommBank has introduced a $10,000 calendar-month cap on payments it identifies as going to crypto exchanges, so larger buyers may hit declines. If you want crypto exposure inside the CommBank ecosystem, CBA has previously announced limited in-app crypto capability built with Gemini, but most customers still use external exchanges.

What does CommBank's $10,000 monthly crypto cap actually block?

CommBank measures crypto-linked payments across your accounts in a calendar month and declines payments that push you over the $10,000 threshold. The cap applies to payments CommBank believes are associated with cryptocurrency exchanges, so it can also catch first-time payees you have not used before. If you are testing a new exchange, start with a small PayID deposit so you do not waste time on reversals.

How do I register PayID in NetBank for faster exchange deposits?

In NetBank, go to Settings, then Payment settings, then PayID and follow the prompts to register your mobile number or email. Once PayID is active, deposits to exchanges that support PayID can land in under a minute when sent over Osko. If a payment is held, it is usually a security hold on the receiving side or a PayID safety check.

Does BPAY work from CommBank for crypto deposits, and when does the exchange get it?

Yes, if the exchange gives you a BPAY Biller Code and Customer Reference Number. CommBank says BPAY made before 6pm (Sydney or Melbourne time) on a business day is processed that day, while later payments can be delayed. Use BPAY when you want a familiar bill-payment rail, but do not expect PayID speed.

Where do I check my CommBank daily transfer limits before sending to an exchange?

CommBank displays your limits inside NetBank settings, and you can adjust them in NetBank or the CommBank app under Transfer and BPAY daily limits. If you are paying a new exchange account, check your daily limit first so the payment does not fail mid-flow. For larger buys, plan deposits over multiple days if your limit is tight.

Why did the CommBank app quiz me about scams when paying a crypto exchange?

CommBank has added extra friction to crypto exchange payments, including declines once you hit its monthly cap and additional security prompts in some cases. If you see warnings, re-check the payee details and make sure you are using the official deposit details shown inside the exchange app. If the payment still fails, try BPAY (if offered) or split into smaller PayID deposits.

Evidence & Verification

This page references 4 sources: CommBank Crypto Payments Policy, CommBank PayID, PayID FAQs (AusPayNet). Information was compiled from official sources and user reports.

Sources:

How we verify · Report an error

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