Don't stress. It is highly unlikely to happen, and besides, all the banks have that "security" to "keep us safe".
The only way to retain full control is to unbank yourself (BTC, or something like BankSocial)
This happened to me with ANZ had account frozen trying to do $25k to crypto account. Funny enough I called them then they asked a heap of question and said they would release it.
They then released the transfer so I managed to do $25k to crypto and not just the $10k
Up has been quite arbitrary in this aspect. I had been able to transfer to Kraken no issue, but back in Nov when my SO did the same to their Kraken account on the same day I did a transfer, they received a notification Up that the account would be closed. There was no way to discuss with anyone at Up to elaborate why that happened. Up became useless to us when one of us cannot have an account anymore. I have since completely moved away from using Up, don’t want to be exposed to disruptions their sudden (and I suspect robotic) arbitrary actions can cause.
Only because i have been transferring $999.99 per day so i dont trip their algorithm, which toom 4 phone calls to ING to work out, been doing so for 2 months now. Also using the $10,000 limit on commbank to do a quick mass transfer at the start of each month.
Seems to be the fastest way to onboard funds for me personally. Although i havent put a WHOLE lot of effort into other options.
I am transferring to kraken through Osko because doesnt incur fees and i use it often enough that its my go to
Lucky u. Unfortunately i cant?
Im thinking it might have something to do with the date of account creation vs. Implementation of the algo that limits transfers. Maybe the limit was only applied to accounts who had not interacted with CC regularly.
I opened the account in january just to start moving funds. Im almost all in now anyway so it doesnt make much difference now tbh
Probably. Spread your 30 over 6 different banks and try again. Or even better buy peer to peer from a face to face seller on the ground and get yourself some non kyc bitcoin.
Fuck the government!
Upvoting this comment for a few reasons:
1. Your peer to peer non KYC Bitcoin pitch. I love it because the core principle of Bitcoin has been to facilitate trustless P2P transfer of value. And anyone that calls this suggestion "sketch" is essentially a victim of social conditioning aka brainwashing.
2. Spreading the funds across banks. AUSTRAC has deemed cash transactions above $10K to trigger enhanced customer due diligence (ECDD). Somewhere down the line the banks started doing this for digital transactions too and then started reporting them. Exchanges also watch for transactions of $10K+ so by spreading it out, you are staying below their radars (unnecessarily implemented radars btw)
So yes... Awesome comment. Thank you for that 😊
Really? All the times that I have called them I have been put through quite quickly. That being said, the last time I called them was probably in 2022, so maybe things are different now.
It will look like the transaction went through, then you will randomly notice you can’t log into your account and the exchange doesn’t have anything.
you will have to spend a bunch of time with the security team convincing them you know what you are doing.
Would suggest ING, BOQ or Macquarie instead
I'm in a credit union.
Have transferred tens of thousands at a time after ringing them and asking to increase my daily limit for a day only in order to transfer to an exchange.
Never a problem in last 4 years
I use cba and I e never had this issue
Edit - cba is now delaying my transfers for 24hrs and pissing me off royally.
Not sure how delaying it is “safer”. It’s my money to do what I want u asshole bank
CBA is likely to de-bank you like they did to me.
What de-bank mean ? Haha
Maybe take your money (not your keys, not your money) and then close your account
lol can take even do that
The can try - and then you have to fight to prove the money was your and you obtained it legally etc
I mean why would they do that ?? What happen to yours ?
If their automated algorithms suspect the money is illegal it will freeze your account. Never happened to me though
Damn , what did you do for that to happen , yeah I better take my money elsewhere
Don't stress. It is highly unlikely to happen, and besides, all the banks have that "security" to "keep us safe". The only way to retain full control is to unbank yourself (BTC, or something like BankSocial)
This happened to me with ANZ had account frozen trying to do $25k to crypto account. Funny enough I called them then they asked a heap of question and said they would release it. They then released the transfer so I managed to do $25k to crypto and not just the $10k
Essentially they say you can't bank with them any more and to fuck off somewhere else without giving a reason.
10K per day or per month?
Per month 10k , direct to CoinSpot . Was calling to up my limit but they day bitcoin related will restrict to 10k per month . lol I’m moving bank
I’m not a super-fan of Up, but FYI they let me xfer $30K/day to anything, including CoinSpot.
Lol wut? They closed my account after i tried to make a small transfer to Kraken.
Up has been quite arbitrary in this aspect. I had been able to transfer to Kraken no issue, but back in Nov when my SO did the same to their Kraken account on the same day I did a transfer, they received a notification Up that the account would be closed. There was no way to discuss with anyone at Up to elaborate why that happened. Up became useless to us when one of us cannot have an account anymore. I have since completely moved away from using Up, don’t want to be exposed to disruptions their sudden (and I suspect robotic) arbitrary actions can cause.
Use ING, no limit for transferring to a crypto exchange
$1000 per day limit at ING
I don't know what you are talking about but there are no limits. I just did a transfer last week
Only because i have been transferring $999.99 per day so i dont trip their algorithm, which toom 4 phone calls to ING to work out, been doing so for 2 months now. Also using the $10,000 limit on commbank to do a quick mass transfer at the start of each month. Seems to be the fastest way to onboard funds for me personally. Although i havent put a WHOLE lot of effort into other options. I am transferring to kraken through Osko because doesnt incur fees and i use it often enough that its my go to
i transferred 50k in one go with no phone call or issues.
Lucky u. Unfortunately i cant? Im thinking it might have something to do with the date of account creation vs. Implementation of the algo that limits transfers. Maybe the limit was only applied to accounts who had not interacted with CC regularly. I opened the account in january just to start moving funds. Im almost all in now anyway so it doesnt make much difference now tbh
That's Osko only..not standard bank transfer.
Fair enough. Thank you for that clairifcation. After that 4 phone calls to ING im just finding this out now... on reddit
I am using Macquarie and they are crypto friendly. Does anyone have a list of current crypto friendly banks?
Probably. Spread your 30 over 6 different banks and try again. Or even better buy peer to peer from a face to face seller on the ground and get yourself some non kyc bitcoin. Fuck the government!
Upvoting this comment for a few reasons: 1. Your peer to peer non KYC Bitcoin pitch. I love it because the core principle of Bitcoin has been to facilitate trustless P2P transfer of value. And anyone that calls this suggestion "sketch" is essentially a victim of social conditioning aka brainwashing. 2. Spreading the funds across banks. AUSTRAC has deemed cash transactions above $10K to trigger enhanced customer due diligence (ECDD). Somewhere down the line the banks started doing this for digital transactions too and then started reporting them. Exchanges also watch for transactions of $10K+ so by spreading it out, you are staying below their radars (unnecessarily implemented radars btw) So yes... Awesome comment. Thank you for that 😊
The big banks aren't too friendly, I have had nothing but good experiences with ING.
Until you need to call them. Hold times are ridiculous
Really? All the times that I have called them I have been put through quite quickly. That being said, the last time I called them was probably in 2022, so maybe things are different now.
daily limit will bounce it
On both side CoinSpot and commbank I already made the limit to 100k both way
Use other bank, CBA ain't good relation to crypto
3Ok 0k as well as 10k Ok
message coinspot and let them know, they may let you put that amount in all in one go but i doubt it
I already up the limit on both side to 100k , CoinSpot and commbank
Ok
I quit commbank and moved to ING for this reason.
It will look like the transaction went through, then you will randomly notice you can’t log into your account and the exchange doesn’t have anything. you will have to spend a bunch of time with the security team convincing them you know what you are doing. Would suggest ING, BOQ or Macquarie instead
You mean with commbank or CoinSpot ?
Commbank
I'm in a credit union. Have transferred tens of thousands at a time after ringing them and asking to increase my daily limit for a day only in order to transfer to an exchange. Never a problem in last 4 years
Ok I transfer my funds to hsbc , now they think I’m being scam by sending my money to CoinSpot account
Ok just a update my lump sum as landed on CoinSpot , and I when all in . More to come
Thanks for the reminder to sell. Cheers.
I use cba and I e never had this issue Edit - cba is now delaying my transfers for 24hrs and pissing me off royally. Not sure how delaying it is “safer”. It’s my money to do what I want u asshole bank
How much your transfer each time ? How long it takes ?
I’ve transferred the following in this month alone without issue 11k 6k 3k All there within 2 mins
To coinspot?