Westpac Caps Crypto Exchange Payments at A$10,000 Monthly from Dec. 1

Westpac will cap payments to crypto exchanges at A$10,000 per month from Dec. 1. The limit covers online banking, the app, credit and debit cards across all accounts with no exemptions. Branch payments to exchanges are unsupported. Westpac says it targets scams, citing National Anti-Scam Centre data that 46% of reported scam losses last year involved crypto. Exchange withdrawals remain unchanged.