If you’ve been blocked by Macquarie Bank when trying to invest your SMSF funds into crypto—you’re not alone. The bank has started blocking BSBs linked to popular exchanges, making it harder to move money from your SMSF for crypto investments.
But here’s a smart workaround we’ve uncovered:
If your SMSF holds an investment property, chances are it’s set up with a loan account or offset account under your SMSF name. These accounts often aren’t restricted in the same way your primary Macquarie SMSF account is.
Why this matters:
These loan/offset accounts can still process payments to crypto exchanges, provided your SMSF is compliant and the investment is within the trust deed.
What to check:
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Make sure the account is under the SMSF entity name.
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Confirm with your SMSF admin that crypto is an allowed asset class.
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Keep records for full audit transparency.
This is a handy tip for SMSF trustees feeling the squeeze from banking restrictions while still wanting to diversify into digital assets.
Need help structuring this the right way?
We can help ensure your SMSF stays compliant while you take advantage of investment opportunities. Talk to our SMSF accountants today!