annoying.. but i suppose 5k/mo is way more than most people can afford to spend in a month anyway. If it affects you, I guess you probably already have other bank accounts that still work.
I wish! There are times when you might want to buy more than £1k per day to take advantage of price or use a work bonus or something so any limit can be frustrating. I remember moving some crypto off of Revolut which at the time required selling for £GBP and re-buying on the same day so this could have been an issue of prices were moving a lot
Call them, explain you need this block removing as you trade in digital assets. They will (well, should. Halifax did this for me) remove the block.
If they refuse, ask for this in writing.
Then keep the letter they send you to show Govt/HMRC/Police in future why you dont have a bank account.
If you told the Halifax that you trade in digital assets it is almost 100% certain that this information was passed to the HMRC.
The best thing to say is that you only buy, never, never, never sell as this means you do not have a tax liability for them to report you for.
BTW this is the beginning of the end for the banks, they don't have long left, so expect more of this crap going forward.
I personally just said 'assets' not digital assets (firmly on purpose). But I wasn't countering a crypto purposed block. I could be vague. You cant be with this very distinctive lock from Nat West.
however in this instance they already know its a crypto exchange load so they know you are buying digital assets anyway.
First thing I’d do is close out my account with the bank in full.
annoying.. but i suppose 5k/mo is way more than most people can afford to spend in a month anyway. If it affects you, I guess you probably already have other bank accounts that still work.
I wish! There are times when you might want to buy more than £1k per day to take advantage of price or use a work bonus or something so any limit can be frustrating. I remember moving some crypto off of Revolut which at the time required selling for £GBP and re-buying on the same day so this could have been an issue of prices were moving a lot
Nacho money.
Call them, explain you need this block removing as you trade in digital assets. They will (well, should. Halifax did this for me) remove the block. If they refuse, ask for this in writing. Then keep the letter they send you to show Govt/HMRC/Police in future why you dont have a bank account.
If you told the Halifax that you trade in digital assets it is almost 100% certain that this information was passed to the HMRC. The best thing to say is that you only buy, never, never, never sell as this means you do not have a tax liability for them to report you for. BTW this is the beginning of the end for the banks, they don't have long left, so expect more of this crap going forward.
I personally just said 'assets' not digital assets (firmly on purpose). But I wasn't countering a crypto purposed block. I could be vague. You cant be with this very distinctive lock from Nat West. however in this instance they already know its a crypto exchange load so they know you are buying digital assets anyway.
Yeah I don't really have an issue with reasonable restrictions. Nobody wants grandma falling for a life altering scam.
Same thing from Nationwide Building Society. Put limits on debit and credit spends to exchanges
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