From Dec. 1, the bank may combine payments to identified exchanges across relevant accounts and methods under one monthly limit.

Westpac's crypto-payment policy, effective Dec. 1, sets a cumulative monthly allowance of A$10,000 across a customer's relevant accounts and payment methods.

The bank's payment policy lists online banking, the Westpac App, credit cards and debit cards among the channels where the limit may apply. App transfers and card payments share the customer's cumulative allowance wherever Westpac applies the policy to those products and payment methods.

Once the cumulative amount reaches A$10,000 in a calendar month, Westpac may reject additional eligible payments to exchanges until the next month begins. The policy's cumulative design means a customer's payments across those relevant products contribute to the amount already used that month.

For joint accounts, each holder has a cumulative monthly limit of A$10,000 across their relevant products and payment methods. The allowance belongs to each holder and spans that customer's relevant accounts, including payments through a joint account and other covered products.

Westpac says it will also stop supporting in-branch payments it reasonably identifies as going to cryptocurrency exchanges. This ends branch support for those identified exchange payments from that date, alongside the separately described monthly limit on relevant online and card payments.

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