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How to Buy Crypto with Rabobank New Zealand

Last updated on November 12, 2023

Quick Summary: While Rabobank New Zealand does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of New Zealand cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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Rabobank New Zealand Homepage

As mentioned in my quick summary, like most New Zealand banks, Rabobank New Zealand doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

Thankfully there are many crypto trading platforms to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Rabobank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Rabobank New Zealand.

Buy Crypto With eToro

About Rabobank New Zealand

Rabobank New Zealand Limited is a bank located in New Zealand, a subsidiary of Rabobank Nederland. Rabobank is focused on rural banking as well as business banking as well as saving services. Its New Zealand subsidiary was registered in 1994 and, at the time of writing the market share of about 3.3%.

The year 1998 was the time that Rabobank acquired the financial company Wrightson Farmers Finance Limited in 1998 from Wrightson which was a farming business, for a sum of $300mil. The purchase weakened Wrighton however, it effectively created Rabobank to be a primary rural loan lender within New Zealand. From November 2008 to the end of December, Rabobank became the main sponsor for BikeNZ (since changed BikeNZ to Cycling New Zealand).

Rabobank New Zealand historically had the highest credit rating possible that was AAA at Standard & Poor’s. However, when the parent firm Rabobank Nederland was decreased and the guarantee for deposits which the parent company provided to its New Zealand subsidiary expired, S&P dropped Rabobank’s rating to an A.

Rabobank stated that deposits in Rabobank and RaboDirect that were made prior to the expiration of the guarantee of its parent in 2015 remain guaranteed for until they are taken out of the account or transferred to a different account.

A credit report for Rabobank New Zealand as of October 2015 is an A from Standard & Poor’s.