KuCoin
लॉग इन
language_currency
होम
ब्लॉग
Tips and Tricks
विवरण
img

Australian User Guide: AUD Deposits via NPP (New Payments Platform)

2026/01/12 09:42:02
In the Australian digital asset market, secure and efficient fund movement is a priority for users. For those seeking to move larger volumes of Australian Dollars (AUD) compared to card limits, KuCoin’s support for the New Payments Platform (NPP) provides a standardized method for funding accounts via bank transfer.
Custom
This guide outlines the process of using BSB and Account Numbers to facilitate deposits while adhering to local compliance standards.

The NPP Method: Key Characteristics

The NPP (often utilizing Osko®) functions as an account-to-account infrastructure link between your Australian bank and the platform. Key features include:
  • Transaction Limits: Bank transfers typically allow for higher daily limits than debit cards, though these are determined by your individual financial institution.
  • Direct Mapping: Facilitates the direct transfer of AUD into the platform environment.
  • Documentation: Transactions generate standard bank records, which are necessary for maintaining financial history and meeting potential reporting requirements.

Process: Transferring via BSB and Account Number

Step 1: Retrieve Deposit Details

  1. Log in to the KuCoin App and navigate to the Deposit section.
  2. Select "AUD" as the currency.
  3. Select "Bank Transfer (NPP/Osko)" (or the equivalent local transfer option provided).
  4. The system will generate unique deposit details:
    1. Account Name: Must match your verified identity on the platform.
    2. BSB Number: The 6-digit Australian bank branch identifier.
    3. Account Number: Your unique designated account number.
    4. Reference Code: A critical identifier for fund attribution.

Step 2: Initiate the Transfer

  1. Access your Australian banking portal or mobile app.
  2. Navigate to the "Pay Someone" or "Transfer" section.
  3. Enter the BSB and Account Number exactly as shown in your account.
  4. Important: Locate the "Description" or "Reference" field and enter the Reference Code.
Compliance Note: The Reference Code is used to identify the destination of the incoming funds. Failure to include this code may result in delays as the transaction may require manual reconciliation.

Compliance & Safety Checklist

To remain aligned with Australian regulatory expectations and platform security, please note:
  • Name Matching: Transfers must originate from a bank account held in the same name as your verified KuCoin account. Third-party transfers (funds sent by another person) are generally not permitted and may be reversed.
  • Large Transactions: Significant transfers may be subject to internal review by your financial institution or the platform to meet Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) obligations.
  • Regulatory Context: Digital asset transactions in Australia are subject to local regulations. Users are responsible for their own record-keeping for tax purposes as per Australian Taxation Office (ATO) guidelines.
  • Account Security: Ensure Multi-Factor Authentication (MFA) is active on both your banking and platform accounts before initiating transfers.

Frequently Asked Questions (FAQ)

Q: How long does the transfer take?
A: While NPP/Osko transfers are designed for near-instant movement, processing times are subject to your bank's internal policies. First-time transfers or large amounts may be held for 24 hours or longer by your bank for security verification.
Q: What happens if I forget the Reference Code?
A: Without the Reference Code, the system cannot automatically attribute the funds to your account. You will likely need to contact support with proof of transfer to manually locate the transaction.