Closed my account, cya – NAB is another bank that limits crypto purchases. I tried to make a deposit to a crypto exchange because CBA limits your deposits to $10,000 and so does NAB.

I had to make sure the details to the exchange were correct using my account to transfer to it for the first time so I sent $20. All good worked instantly. I then went to transfer the remaining several thousand dollars then bang instantly had my NAB account locked, no questions no nothing. Couldn't log in to access MY money and it was Christmas so could not call to access it.

Fast forward to the next day when I tried to get it fixed and the crypto I was planning on buying has doubled in value, potential gain in the several thousand dollars gone thanks to NAB.

So I'll be taking my money back out and closing the account as you have nothing to offer me. I get the prevalence of scams at the moment but that does not give you the right to dictate what I can do with MY money. It's not your money it's mine. Have better checks and identity checks or whatever you need but do not flat out block my account. Banks like this are the whole reason crypto exists and Australian banks are among the most authoritarian of them all. It's not about protecting from scams, it's about control.