Buy Crypto with mBank

Summary: mBank doesn't offer direct support for Bitcoin or crypto transactions via its online banking or mobile app. However, customers can engage in the digital asset market by working with exchanges licensed by the Polish Financial Supervision Authority (KNF), using Euros (EUR) or Polish Zloty (PLN) from their mBank accounts to invest in cryptocurrencies on their chosen platforms.

After reviewing over 20 exchanges, eToro emerged as the top pick for mBank customers. This platform adheres to KNF regulations and offers cost-effective and swift EUR or PLN transfers from mBank accounts and mBank credit cards. Additionally, it provides access to a broad range of over 3,000 digital currencies, stocks, ETFs, and various other investment opportunities.

Can I Buy Crypto with mBank

Yes, mBank provides its customers with the opportunity to invest in Bitcoin and various other cryptocurrencies through their mBank accounts or mBank cards. Clients interested in buying Bitcoin, Ethereum, or other altcoins must create an account on a Polish cryptocurrency platform that accepts mBank for Euro (EUR) or other currency transactions. Selecting a platform regulated by the Polish Financial Supervision Authority (KNF) or an equivalent European financial regulatory body is paramount for a secure and regulated trading experience.

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How to Buy Bitcoin and Crypto with mBank

The most secure and straightforward method to buy digital currencies using an mBank account is through a regulated brokerage. This allows users to safely deposit any fiat currency (e.g. PLN or EUR) from their mBank account via bank transfer, or mBank card, among other options. Based on our evaluation, we recommend eToro due to its compatibility with mBank, compliance with regulatory standards, and attractive fee structure for over 3,000 assets.

Follow this simple 4-step guide to invest with your mBank account:

1. Visit eToro to register and confirm your identity.
2. Click on the 'Deposit Funds' button located at the bottom left of your screen.
3. Choose your fiat currency and payment method (e.g Bank Transfer) and execute your transfer from mBank.
4. After processing the deposit, use the funds credited to your account to invest in cryptocurrencies.

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What are the Fees?

The costs linked with transferring money from an mBank account to a cryptocurrency exchange can vary depending on the chosen exchange. Transferring from an mBank personal or business account to a worldwide operating exchange typically incurs no charges, although trading fees might differ. For instance, platforms such as eToro maintain a 1% spread on trades, while other prevalent options like Kraken and Coinbase apply a 1% fee along with a 1% spread.

It's important to note that deposits to exchanges using an mBank Debit Card incur a fee of 2.49%. This comes as a result of the card issuer (Mastercard) applying a standard fee for all card transactions, including those related to cryptocurrency transfers or deposits.

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Is mBank Crypto-Friendly?

Indeed, mBank does support cryptocurrency transactions and allows its customers to engage with approved digital asset exchanges. By providing access to platforms regulated by authorities such as the Polish Financial Supervision Authority (KNF), mBank ensures its clients interact only with exchanges that strictly adhere to Polish financial regulations. This mitigates the risk of financial malpractices, including money laundering and other illicit activities.

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What is mBank?

mBank is one of the largest and most innovative banks in Poland, renowned for being a digital banking pioneer in Central and Eastern Europe. Established in 1986 as BRE Bank, it rebranded as mBank in 2013, signifying a shift towards more customer-centric, mobile and online banking services.

The bank offers a comprehensive range of financial products and services, including personal, business, and corporate banking, as well as wealth management solutions. Its offerings encompass current and savings accounts, loans, mortgages, credit cards, insurance products, and investment services, including access to cryptocurrency investments.

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Bottom Line

In conclusion, mBank offers a crypto-friendly environment for its customers interested in investing in Bitcoin and other digital currencies. The process is relatively straightforward - one needs to create an account on a regulated European cryptocurrency platform, such as eToro, deposit fiat currency via mBank, and start investing. 

Always remember, choosing a platform regulated by a reliable financial authority guarantees a secure trading experience. Keep in mind the associated fees that may incur, particularly when using a debit card for transactions. Thus, with mBank, embarking on your cryptocurrency investment journey is made easy, accessible, and secure.