Posted 8 months ago | by Ben Armstrong
Australian Residents can Now Transfer AUD to Crypto.com Fiat Wallets
This is the last feature added to the long list of tools the Crypto.com app has to offer its users. To take advantage of all the benefits that crypto.com has for you and receive $50 if you signup for their MCO Visa Debit Card, make sure to click here.
New Options to Facilitate Crypto Investment
Crypto.com has announced via an official blog post the addition of AUD transfers to allow Australian residents to directly deposit AUD to their Fiat Wallet in the app.
Users now can top up their AUD wallets via NPP (PayID) or BPAY with a zero-fee from their bank accounts using NPP (PayID) and BPAY, which are local payment channels trusted by many users in Australia.
While the user is free from any fee from crypto.com, users might still be charged a processing fee by their banks depending on which one they have.
Setting Up and Depositing to an AUD Wallet is Simple
Transferring money to your fiat wallet should be easy and free of any hassle, allowing you to trade effectively and conveniently.
This is why setting up an AUD wallet simply requires users to go to “Fiat Wallet” in the App’s Menu Button, tap on the “+ Set Up New Currency” button, and choose their preferred payment channel, including NPP or BPAY.
By using the bank account’s info provided, users will be able to transfer directly through their bank via the selected channel.
Users must remember the customer reference number as it is the only way for Crypto.com to identify and verify users’ deposits.
As different banks have different reference fields on their internet banking, Crypto.com encourages customers to include their customer reference number on all available fields as a precaution.
Crypto.com will notify users once bank transfer has been successfully deposited.
To deposit AUD, there will be an information page with all the details necessary to transfer AUD for users after the successful setup of their AUD wallet, which can also be accessed via the “Deposit AUD” button in the AUD Fiat Wallet.
Things to Keep in Mind
Deposits must be initiated directly from users’ accounts. The AUD transfers made via 3rd party payment processing companies, such as Western Union, Revolut AU, or TransferWise, are not accepted.
Also, it only accepts AUD transfers from bank accounts bearing the same name as the one registered Crypto.com App, so users should pay extra attention when initiating a transfer.
AUD transfers must be funded by a debt-based account, not from credit accounts or third parties as in there could be issues in the transactions resulting on lost money or troubleshooting being required.
Users can proceed with the deposit via the NPP network by access their bank’s web portal or mobile application, while users with BPay are able to access via Osko App or their bank’s web portal.
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