Buy Bitcoin with NAB

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

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

Most friendly Big 4 bank. Up to $40K AUD/day after verification.

Supported payment methods: osko, bpay

Last verified: Jan 28, 2026

Top Exchanges for NAB

• Kraken
• CoinSpot
• Binance

Step-by-step guide to buying Bitcoin with NAB

With NAB, the typical path is OSKO/PayID to an AUSTRAC registered exchange for AUD funding. See the steps below.

1. Pick an AUSTRAC-registered exchange
   Use an AUSTRAC-registered exchange that NAB allows; some platforms are blocked.
2. Create your exchange account
   Register and enable two factor authentication.
3. Complete identity verification
   Verify identity before depositing.
4. Copy PayID and reference
   Get the PayID and any reference from the exchange deposit screen.
5. Send PayID in the NAB app
   Open the NAB app, tap Pay then PayID, enter the PayID, confirm the payee, and approve; if declined, the platform may be blocked.
6. Wait for funds to arrive
   Osko PayID is often instant if not blocked; declines show as Rejected or Issuer Declined.
7. Purchase Bitcoin
   Buy BTC once your deposit is credited.
8. Secure your Bitcoin
   Move BTC to a wallet if holding long term.

Frequently Asked Questions

Can you buy crypto with NAB?

Yes, usually by bank transfer rather than card. NAB customers commonly fund AUSTRAC-registered exchanges like Independent Reserve, CoinSpot, Kraken, and Binance using PayID or a BSB and account number transfer. NAB has publicly said it began blocking some payments to certain crypto exchanges as a scam control, so a transfer can be declined depending on destination. If you get blocked, switch exchanges and retry with a small test deposit.

NAB says it blocks some crypto exchange payments. What does that mean for my deposit?

NAB has stated it blocks some payments to crypto exchanges to protect customers from scams. The practical outcome is simple: some payees will work, others will be declined even if your balance and details are correct. If you hit a block, use a large, AUSTRAC-registered exchange and try PayID first.

Do NAB PayID deposits clear on weekends, or do they wait for business hours?

Osko is designed to send participating bank transfers in under a minute, 24/7, including weekends. If your deposit is delayed, it is usually a security hold or a receiving-side processing issue, not a weekend cut-off. For urgent buys, do a small PayID test first so you know the route is live.

What timing does NAB quote for BPAY and standard transfers to other banks?

NAB outlines processing times for different payment types, including how transfers can be treated around cut-off times and business days. If you are using BPAY for a crypto exchange, plan for a slower clear than PayID. When timing matters, PayID is usually the better pick.

Where do I see my limit in the NAB app before I try a larger exchange deposit?

NAB's in-app payment flow will show you available limits for the payment type you are using, especially when you are adding a new payee. If your deposit fails instantly, check whether you hit a daily limit or whether NAB blocked the destination exchange as higher risk. A smaller PayID test deposit often reveals which it is.

Why did NAB decline my card on a crypto platform but accept a bank transfer?

Card payments are filtered through online authentication, merchant risk rules, and card-network controls. NAB supports 3D Secure style verification for online card purchases, which can add friction or trigger declines on higher-risk merchants. A PayID deposit usually bypasses those card-specific checks.

Evidence & Verification

This page references 4 sources: NAB Crypto Exchange Policy, Osko Payments (AusPayNet), NAB Processing Times. Information was compiled from official sources and user reports.

Sources:

• NAB Crypto Exchange Policy
• Osko Payments (AusPayNet)
• NAB Processing Times
• 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.