Bank & Payment Friction Guide

                     What This Guide Covers:
                    Which banks block/throttle crypto purchases (Australia, US focus)
Expected delays and how to handle them
What to say when your transfer is flagged
Alternative payment rails (Strike, PayID workarounds)

                

🇦🇺 Australian Banks: Crypto Policy Grid

Last updated: October 2025. Policies change frequently—verify with your bank.

⚠️ THROTTLED

ANZ

Allows crypto purchases but flags large/frequent transactions

What to expect:

PayID works fine for most exchanges
Transactions over $5K may trigger review
BSB workaround: Use Osko/PayID instead

⚠️ THROTTLED

Commonwealth Bank (CBA)

Heavy scrutiny on crypto exchanges

What to expect:

Frequent "Falcon security" alerts
24-72h holds on first crypto transfer
SMS verification required
Some users report BSB blocks to exchanges

✅ FRIENDLY

Macquarie

Generally Bitcoin-friendly

What to expect:

Minimal friction for crypto purchases
PayID and BSB transfers both work
Occasional verification on large amounts

⚠️ THROTTLED

Westpac

Selective blocking of some exchanges

What to expect:

Some users report blocks to Binance
PayID preferred over BSB transfers
Phone verification common

Pro Tip: If your bank is throttling/blocking, open a second account at a crypto-friendly bank (like Macquarie or ING) specifically for Bitcoin purchases. Transfer fiat there first, then buy.

🇺🇸 US Banks: Quick Reference

🚫 BLOCKED

Bank of America

Blocks many crypto-related transactions, especially credit card purchases

⚠️ THROTTLED

Chase

ACH to exchanges works, but credit cards blocked

⚠️ THROTTLED

Wells Fargo

Wire transfers work, occasional holds on ACH

✅ FRIENDLY

Capital One

Generally allows crypto purchases via ACH

Expected Delays & How to Handle Them

"Falcon Security" & Fraud Alerts

Many banks use automated fraud detection (like "Falcon") that flags crypto transactions as suspicious.

                        Typical Timeline:
                        0-2 hours: Automated SMS/email asking you to confirm
2-24 hours: Transfer held "pending review"
24-72 hours: Manual review by fraud team
72+ hours: Escalation needed (call support)

                    

📞 What to Say When Your Transfer Is Flagged

Script for Bank Support:

"Hi, I have a transfer that's been flagged for review. I'd like to confirm it's legitimate.

- Transfer to: [Exchange name, e.g., Coinbase]
- Amount: $[amount]
- Date initiated: [date]
- Purpose: Purchasing cryptocurrency (Bitcoin)

This is my money, I authorized this transfer, and I'd like it processed. Can you release the hold?

[If they push back:]
I understand you have fraud policies. I'm confirming this is a legitimate transaction I initiated. What's the timeline for release?"

Key Phrases to Use:

"This is MY money, I authorize this transfer"
"What's the timeline for release?"
"Can I speak to a supervisor if this can't be released?"

❌ Avoid: Getting angry or mentioning "Bitcoin ban" (that makes them defensive)

🔀 Alternative Payment Rails

Option 1: Strike → Exchange

Use Strike as an intermediate step. Some banks don't flag Strike the same way they flag exchanges.

Flow: Bank → Strike (ACH/debit) → Buy BTC on Strike → Withdraw to exchange or wallet

Option 2: PayID vs BSB (Australia)

If BSB transfers are blocked, try PayID. Many banks treat them differently in their fraud systems.

Option 3: Cash App / Venmo (US)

Both allow Bitcoin purchases directly. Limits are lower, but no bank friction.

📋 Pre-emptive Checklist

                    Before Your First Crypto Purchase:
                    ✅ Verify your bank's crypto policy (call and ask directly)
✅ Start with a small test transfer ($50-$100)
✅ Expect 24-48h hold on first purchase
✅ Have phone number for bank support handy
✅ Screenshot/save transfer confirmation
✅ Consider opening a second account at crypto-friendly bank

                

This guide is community-maintained. Banks change policies frequently.

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