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How to Buy Crypto with TSB Bank in New Zealand

Last updated on November 12, 2023

Quick Summary: While TSB Bank 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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TSB Bank Homepage

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

There are a large number of crypto exchanges that you can use to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with TSB

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

1. Pick a crypto trading platform

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 crypto

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 TSB Bank.

Buy Crypto With eToro

About TSB Bank

TSB Bank Ltd (originally named by the name of Taranaki Savings Bank) trading under the name TSB is a New Zealand bank with headquarters in New Plymouth. It has 25 branches throughout the country, but is primarily concentrated in the Taranaki region, where 12 of its branches are situated. At the time of its June 2022 launch it is the seventh-largest institution of New Zealand, with a market share amount of assets being 1.4 percent.

It provides retail banking as well as related financial services to people as well as companies. It was initially one of Twelve trustee banks located within New Zealand, but when nine banks opted to join into Trust Bank, TSB Bank stopped its work and remained an individual institution which has expanded their operations across the nation. The bank is part of The Toi Foundation (formerly the TSB Community Trust) who distribute the earnings it earns from the bank back to its New Zealand community.

TSB also manages TSB Foreign Exchange with 14 branches throughout the country.