Explore the latest developments concerning Westpac to Limit.
Westpac to Limit How Much Customers Can Send to Crypto Exchanges, With No Exceptions
A Westpac customer who buys crypto by sending Australian dollars from the bank to an exchange will, starting Dec. 1, have a ceiling on how much of that money can go out each month. Westpac said on its website that from that date it "may limit payments we reasonably identify as being made to cryptocurrency exchanges to a $10,000 cumulative monthly limit."
The ceiling is A$10,000 for each customer in a calendar month, added up across the customer's relevant Westpac accounts. Westpac listed Online Banking, the Westpac App, and credit and debit cards as the channels it may apply to, and said the products covered "may vary from time to time." Each holder of a joint account gets a separate A$10,000.
Westpac May Cap Crypto Exchange Payments at A$10,000 a Month From Dec. 1
Westpac may limit payments to crypto exchanges it identifies to A$10,000 a month from Dec. 1, with no exemptions, citing crypto scam losses in Australia.
Australian bank Westpac said that from Dec. 1 it may limit payments it identifies as going to crypto exchanges to a cumulative A$10,000 a month.
The limit applies across a customer's Westpac accounts, online banking, app, credit and debit cards, and exemptions or higher limits are not available, the bank said.
Westpac cited National Anti-Scam Centre data showing almost half of reported scam losses last year involved crypto.
Australian bank Westpac said it may cap payments that it identifies as going to crypto exchanges at A$10,000 a month per account holder from Dec. 1, citing the share of scam losses tied to crypto.
Retroid Pocket 5 Handheld Game Console 5.5'' AMOLED Screen Android13 Joystick RGB Lighting Effect Active Cooling Video Games
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
For more detailed information, explore updates concerning Westpac to Limit.
