Buy Bitcoin with ING Australia

[✓] last verified 2026-03-30·Reviewed by BankToBTC Team

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

POLICY CHANGED April 2024. Now blocks some exchanges, transfers delayed.

Supported payment methods: osko

Last verified: Mar 30, 2026

Best exchanges to use with ING Australia

These crypto platforms work with ING Australia on OSKO/PayID rails, with AUSTRAC registered onboarding and full AUD deposit support.

Step-by-step guide to buying Bitcoin with ING Australia

Funding from ING Australia usually means OSKO/PayID deposits into an AUSTRAC registered exchange. Our walkthrough makes it simple.

1. Pick a well-known AUSTRAC-registered exchange
   CoinSpot and Independent Reserve are among the most recognised exchanges in Australia. Well-known platforms have a slightly better chance of passing ING's automated screening.
2. Create your exchange account and complete KYC
   Sign up with your email address, enable two-factor authentication, and submit your ID to unlock AUD deposits.
3. Get the PayID or bank deposit details from the exchange
   In the exchange, go to Deposit then AUD then PayID or Bank Transfer. Copy the PayID address or BSB/account number and the exact payment reference.
4. Send a small test transfer from ING
   Open the ING app and send $50 AUD to the exchange PayID. ING may block the transfer outright if it recognises the exchange as high-risk. If the test is blocked, you will need to use a different bank for crypto.
5. Wait for the test deposit
   If ING allows the transfer, it may still be delayed 1 to 2 days for any transfer above $1,000 AUD. Transfers under $1,000 are typically faster but still not guaranteed to be instant.
6. Send the main deposit (keeping under $1,000 if possible)
   Keeping transfers under $1,000 AUD reduces the delay risk at ING. If you need to send more, split it into separate transfers on different days.
7. Purchase Bitcoin
   Once AUD is credited on the exchange, select BTC and confirm your purchase.
8. Consider switching banks for regular crypto use
   If ING regularly blocks or delays your transfers, NAB or Up Bank are more reliable choices for Australian crypto investors.

Frequently Asked Questions

Can I buy Bitcoin with ING Australia?

ING Australia's ability to fund crypto exchanges became significantly more restricted in April 2024. Before that change, ING was considered one of Australia's most crypto-friendly major banks. Since April 2024, many exchanges are blocked and transfers above $1,000 AUD can be delayed by 1 to 2 days. ING has not published an official list of blocked exchanges or a full policy statement. Try a small test transfer to a major AUSTRAC-registered exchange first; if it is blocked, consider switching to NAB or Up Bank for crypto funding.

What changed at ING Australia in April 2024?

In April 2024, ING Australia shifted its approach to crypto exchange payments from open to restrictive. The bank began blocking payments to many exchanges and introduced delays of 1 to 2 business days on transfers above $1,000 AUD to crypto-related accounts. This was part of a broader trend among Australian banks following ACCC and ASIC guidance on scam prevention. ING did not publish a formal policy change announcement, but the effect was widely reported by customers and documented by third-party crypto services.

Which exchanges still work with ING Australia?

ING Australia has not published a list of approved or blocked exchanges. Customer reports suggest that well-known AUSTRAC-registered exchanges like CoinSpot and Independent Reserve have the best chance of working, while newer or less well-known platforms are more likely to be blocked. Even for exchanges that are technically accessible, transfers above $1,000 AUD may face a 1 to 2 business day delay. The situation can change without notice, so always test with a small amount before sending a larger deposit.

Should I switch banks from ING if I buy crypto regularly?

If crypto access is important to you and you are regularly blocked or delayed at ING, switching your funding account is worth considering. NAB has no specific monthly crypto cap and allows AUSTRAC-registered exchanges without blanket restrictions. Up Bank is the most frictionless digital bank option in Australia with a $10,000 AUD/month limit. You do not need to close your ING account: many crypto buyers keep ING as their primary everyday account and use NAB or Up Bank specifically for exchange funding.

What taxes apply to Bitcoin profits for ING Australia customers?

The ATO treats cryptocurrency as a CGT asset for most Australian investors. Any profit from selling or exchanging BTC is assessable in the financial year of disposal. Holding for more than 12 months as an individual investor typically entitles you to a 50% CGT discount. The bank you use to fund your exchange does not affect your tax treatment. Keep complete records of every trade from your exchange account and consider consulting an Australian accountant with crypto tax experience.

Evidence & Verification

This page references 4 sources: Top Crypto Friendly Banks, Top Crypto Friendly Banks, Crypto Asset Investments. Information was compiled from official sources and user reports.

Sources:

• Top Crypto Friendly Banks
• Top Crypto Friendly Banks
• Crypto Asset Investments
• 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.