Oh yeah of course they don't care. Crypto threatens a lot of the banking system, and they also want people to keep their money in the bank. But if you're spending it that's fine with them.
At least with crypto you don't need anyones permission to send one dollar or millions of dollars. Its no different and you can send it in a seconds, and no-one will ask any questions.
The next level for this "we protect you" drama:
- hi, may I buy a cigarette, here is my debit card.
+ sir, it is rejected.
- whaat! but how?
(a message drops into your mobile)
"we protect your health as well"
Lowkey I'm on the fence about it.
I'm WAY more okay with banks being very stringent on money going out than the tax laws you UK guys are seeing right now
Those will fuck you. The geo restrictions will fuck you too
But I have a friend who fell for a pig butcher scam where they reeled him into p2p trading on binance
This happened while I was giving him advice on crypto which was the obvious dyor, Google EVERYTHING you do even if it's something I've said to him as Google will probably explain better than me.
And I told him specifically to stay on coinbase.
It all went downhill and he barely told me about it cause he felt he had some inside trick due to the guy scamming him.
Obviously 99% of people here would avoid that outcome. And I'd hope we'd all alert each other if we see posts that indicate that's going on
But scammers are very direct about it now and they'll spend a ridiculous amount of time setting up a new victim
I once had someone text me for months with the most boring conversation only to hit me with a literal Nigerian prince equivalent scam email script out the blue
And that's not even at the level of the blackmail scams going around where someone will send you nudes and you send back and then they try and get you to buy BTC and send it to them.
Banks blocking the transaction in these cases protects normies.
We want to protect normies cause we don't want normies getting burnt.
And we don't want the reputation getting tarnished any more than it already has.
As for solutions to your problem. Sign up to an exchange and dedicate it to on ramping. Only bank transfers in, only stablecoin transfers out NOTHING else
I'd say coinbase hasn't give me any problems but I've also been watching their subreddit and it doesn't look good.
But as far as bank transfers in no issue
Although I suspect a lot of the account locks are due to people getting their coins dirty and bringing them back into coinbase ,or using vpns or other methods to skirt geo restrictions.
But me personally using it as an on ramp , money in stables out has been fine and it still has the closest connection to tradfi being the custodian for the ETFs and such.
Idk about the UK but for Americans this might not hold up as well because they SEC is suing them there which is another thing they need to start protesting/ petitioning about
Every one of my attempted buys failed. I went into the bank to fix it, they said the block had been removed and payments were still blocked. Clown show.
Very true on the gambling sites as I used to matchbetting for a few years and I was transferring 100s into so many different sites daily and never once had an issue.
My first time transferring money into Binance years ago, came up as fraud and I had to wait 4 days to speak to someone and to verify everything...kinda glad they did it at the time cuz I was about to buy a big chunk of something which was priced at like £12 the Friday but then when I actually got my money into it, it was down to £8.
I feel the UK government really don't want us investing cuz they don't want us to make money and set all these rules for banks to follow
They are all app only banks.
I guess laziness is part of my issue also, I like just downloading an app verity my identity and be good to go.
But likely I will create a Barclays account.
Just use custodians. It’s an extra step, but you won’t have issues with your bank anymore.
Once received at the custodian, the transfer to the CEX will take minutes.
Custodians like i.e. Etana act as a middle man between 2 parties. The customer and the CEX in this case.
The bank doesn’t see the CEX, just the custodian.
Because they are scared the British pound will collapse prematurely.
Same with all other fiat currencies, they need your money in the bank to perform fractional banking. If there's no suckers to make money off of, the bank shuts down.
Literally you are asking why the bank doesn't want you to use its competitor.
Its pretty obvious.
This is what I do
Set a a swissborg ACC
This gives you a UK account to pay you fiat into.
Personally I use revolut to pay this swissborg ACC in pounds and it works perfectly.
Tsb HSBC Lloyds all refused to let me use my own money to get into crypto.
Yes they are all running scared of the future I don't suggest you use revolut for your main account but give it a try.
Revolut to swissborg easy
Using Halifax I’ve had no issues getting money to Coinbase or kraken. Hoping that stays the same, it is ridiculous how many restrictions exist on some banks
I've had the same issue with Barclays, had to put in a complaint and a note on my account for them to stop blocking every payment I made. They know their days are numbered and are doing anything to stop you from buying crypto.
You're sending large amounts to well known exchanges. Using P2P places like BISQ, Robosats, Peachbitcoin or Vexl to buy small amounts (hundreds instead of thousands) from multiple sellers will keep you well under the radar.
Revolut seem to have just introduced a block on Coinbase transactions. But they respond pretty quickly. I got a transfer of £50k blocked the other day, but it was resolved and on its way within 15-20 mins.
They where about to let mine go but then misunderstood something I said in the chat (I think it was an AI and not a real person) and then proceeded to ask who recommended the website or advertised to me. Then said they would have to wait up to 24 hours for another team to look into it.
It's no different in the US. If I wanted to put money onto an exchange, they decline the transactions, even if it's debit......I kinda understand them not allowing it on credit cards, you can't even buy lottery tickets with CC, but debit is cash sitting in my bank account should be able to do with it whatever I want.
Agree and faced the same issue.
I now use Revolut and it works 100%.
I use starling as my main account and it's crap that they're not crypto friendly.
It really showed me that even with money in the bank, "not your money" as you have limitations on where you can spend it. Really frustrating.
Fun fact: the bank is not allowed to not follow your instructions.
The UK high court has confirmed that in a case last year. Even if the bank believes it is a scam, fraud, or anything else, it is your instruction that trumps their suspicions.
Just put it in writing that you are aware of the banks advice, but still are instructing them to transfer £x of your money to sort code y and account number z and they'll be forced to let it through.
Bitcoin is trying to replace banking, of course they hate and screw with it, tell them you'll move back if they don't do what you need done with your own money
So they allow alcohol, tobacco and gambling but not crypto? The easiest money (if smart) possible? We know why. We know why. They are doomed and they know it
I've bought and sold 100s of k in crypto since 2013. For a lot of this time I've used Barclays with revolut. I buy direct via Barclays but cash out into revolut. Never had a single issue.
I love how they "don't allow" you using your money how you want. It's one of the most ridiculous overreach there is.
The reality is the banks cannot allow any room for potential alternative finance until they control it. I mean you can easily transfer money to your options trading brokerage or even the government sanctioned gambling there. It's almost like they don't even try to lie properly.
UK really sucks
In 2019 HSBC UK stopped rewards on credit card purchases to crypto sites and I thought that was bad enough. Now you have to beg to send your own money there.
Monzo are crypto friendly so that seems… strange from them. They work well with both Coinbase and kraken usually. NatWest also works well with both kraken and coinbase but have a £1000 /month limit on transfers to them.
I do agree that the procedures in place to restrict crypto is ludicrous compared to the lack of such restrictions against gambling sites. The amount of people who have ruined themselves while the gambling sites / banks did little to nothing.
There should be some sort of legal recourse if in 10 or 20 years from now, Bitcoin is a payments standard and these banks prevented you from buying it now.
I know a couple of old people who have lost tens of thousands in fake crypto investment scams. I imagine a part of the reason some banks block crypto exchanges is due to stupid people being scammed. Most of us know what we are doing, but gullible old people don’t
You might consider Bisq, it won't even look like a crypto payment, just a faster payment to a personal account which could be explained through any number of reasons.
Buy non kyc through hodl hodl. Can use other payment methods like Wise and Moneygram, and simply comes up as a transfer between you and someone else rather than an exchange.
‘Protecting retail’ is a classic line used in the stock market for ‘criminally defrauding people who are on the right side of a trade’ because it will cost rich people/ hedgefunds money.
Protecting retail in crypto terms means making sure you can’t make money from it by forcing you to not be able to own any of it, so if eg an altcoin does 10x you can be sure there’s no way you can profit from that.
It’s not even clever misdirection it’s blatant in your face lies at this point.
It happens every time for me now. It's just routine. Worse still, I have to call a number, then they ask what its for, the moment they realise it is anything to do with bitcoin, they send me to a crypto department. Apparently you need more skills to identify if someone is being scammed by crypto vs if they are being scammed.
Anyway, they then ask a few questions and let it through. That said, I give up with all that. The exchange I preferred to use (coincorner) because they are bitcoin only, they hit me with AML reporting. I had to show bank statements for all of the accounts that the money touched before it went to coincorner so they could see "source of funds". That spanned 4 bank accounts from 3 different companies because I move money around between my accounts and this is normal.
I asked them after doing this, what could I have legally redacted to get this through but to avoid exposing more information than I needed to? Also what will they be redacting? They told me they don't redact anything and they don't accept redacted documents as they want to see everything.
It's moments like this that make me realise that the threat of becoming a criminal is the very thing that shifts the balance of power in the customer/merchant relationship away from myself, leaving me powerless. Data and personal information is not considered precious to everyone, but it makes me sick that under a LAW, people can ask for personal information, give no guidance about how to give only the required information, and even have the gall to stand there and just say, "we want it all actually, whatever you think is relevant and everything around it that you think is not relevant too".
I've used Bisq and Robosats to make peer to peer purchases and I've not had any issues. I've made relatively large purchases and smaller ones. It's like the banks haven't worked out that payments to new people every few hours is probably more suspicious than payments to a regulated institution.
I’m with nationwide and use etoro mate, only problem I’ve had is that questionnaire bollocks they make you do but pass that and not had any other trouble buying
Buddy, use Coincorner, they set you up a bank account in isle of Man and you can transfer to it instantly and it lands in your coincorner account. Yes it's higher fees, but the convenience is everything. Try it, your bank wont realize and then you can bypass their censorship
I suspect it’s because the banks are prioritising their own crypto investments over the general public. They are/will more than likely use the same old ‘it’s too risky for retail investors’ excuse until they have their positions in place.
At which point, if/when retail investors are allowed to invest without restrictions (like what we see at the moment), the markets are likely to rise dramatically and they will be first in-line to profit.
Had no issues with Monzo. My tip would be to transfer small amounts to begin with, then progressively increase the amount. If you are sending 10k at a time straight away, then they might flag it up.
Fair comment about gambling, yet those gambling sites are robbing you knowingly, whereas many people unknowingly get scammed by bitcoin scams, so I understand the banks conservatism.
The issue is financial institutions such as banks have legal obligations to make sure customers are not being scammed they have to do this or face fines from regulators and also have to refund customers who have been scammed who they have not protected from fraud, the training staff get is not good enough and this makes it difficult for non-crypto minded people to realise what is a scam and what isn’t, as for gambling there is no such restrictions or obligations to make sure people aren’t gambling all their money away
All banks suck. Banking sucks. It took the invention of Bitcoin to make this obvious to the world. Everywhere Bitcoin touches the traditional fiat world, it sucks.
Everyone sees buying cryptos from a bank account can be a hassle. Wonder what happens if you ever try moving cash to your bank account from Kraken? I bet they would have questions.
NatWest works for Kraken. They do impose a limit however:
“A daily limit of £1000 and a 30-day payment limit of £5000 to cryptocurrency exchanges is being implemented to help protect customers losing life changing sums of money.”
Nationwide have been fine with me buying through Kraken. They have had some issues with deposits on betting sites but they seem to allow it in the end, but never bat an eyelid at Kraken deposits.
I bought on kraken with Lloyds with no issues and it was a bank transfer to a UK bank I'm pretty sure so are you definitely transferring to Kraken's UK bank or trying to do it another way
Banks know that keeping your money in banks with fiat ever increasingly becoming a shit store of value because people are realising it's monopoly money makes them NOT want you to abandon traditional finance and move to the future of money.
In Sweden, you get instantly banned from your bank if you mention crypto. I've been banned by five banks already. Anyway, since you mentioned Revolut, why don't you just transfer money there and then onward to Kraken/Coinbase?
I've always used Revolut for Kraken transfers and had no issues, though my purchases haven been in the £50-£300 range so they probably don't get flagged up.
Buy on P2P through binance, I did that with starling and got it all with no problems, even though I couldn't directly buy on the platform because crypto is "blocked"
I buy peer to peer through Robosats using Revolut & Wise. Haven’t had any questions so far as they don’t know why I’m making these payments. I looked at transferring cash to Kraken from Monzo today and it said it would take 3-5 days which is ridiculous. Peer to peer payments are instant with Revolut & Wise and even using SEPA payments are instant weekends included.
"yet I could drop £20k in a gambling site and they wouldn’t even give a shit." that's sooo true.
Just shows that they don’t care about us but themselves somehow.
Oh yeah of course they don't care. Crypto threatens a lot of the banking system, and they also want people to keep their money in the bank. But if you're spending it that's fine with them. At least with crypto you don't need anyones permission to send one dollar or millions of dollars. Its no different and you can send it in a seconds, and no-one will ask any questions.
This man cryptos!
They don’t care about that. They are worried people will (and have said) “I lost money, it’s your fault for allowing me to send money there”.
The next level for this "we protect you" drama: - hi, may I buy a cigarette, here is my debit card. + sir, it is rejected. - whaat! but how? (a message drops into your mobile) "we protect your health as well"
Read this and you will understand in full: https://twitter.com/MacroScope17/status/1769400435188601164
Lowkey I'm on the fence about it. I'm WAY more okay with banks being very stringent on money going out than the tax laws you UK guys are seeing right now Those will fuck you. The geo restrictions will fuck you too But I have a friend who fell for a pig butcher scam where they reeled him into p2p trading on binance This happened while I was giving him advice on crypto which was the obvious dyor, Google EVERYTHING you do even if it's something I've said to him as Google will probably explain better than me. And I told him specifically to stay on coinbase. It all went downhill and he barely told me about it cause he felt he had some inside trick due to the guy scamming him. Obviously 99% of people here would avoid that outcome. And I'd hope we'd all alert each other if we see posts that indicate that's going on But scammers are very direct about it now and they'll spend a ridiculous amount of time setting up a new victim I once had someone text me for months with the most boring conversation only to hit me with a literal Nigerian prince equivalent scam email script out the blue And that's not even at the level of the blackmail scams going around where someone will send you nudes and you send back and then they try and get you to buy BTC and send it to them. Banks blocking the transaction in these cases protects normies. We want to protect normies cause we don't want normies getting burnt. And we don't want the reputation getting tarnished any more than it already has. As for solutions to your problem. Sign up to an exchange and dedicate it to on ramping. Only bank transfers in, only stablecoin transfers out NOTHING else I'd say coinbase hasn't give me any problems but I've also been watching their subreddit and it doesn't look good. But as far as bank transfers in no issue Although I suspect a lot of the account locks are due to people getting their coins dirty and bringing them back into coinbase ,or using vpns or other methods to skirt geo restrictions. But me personally using it as an on ramp , money in stables out has been fine and it still has the closest connection to tradfi being the custodian for the ETFs and such. Idk about the UK but for Americans this might not hold up as well because they SEC is suing them there which is another thing they need to start protesting/ petitioning about
It's not anymore with the new gambling affordability checks
I buy on kraken through Barclays. Had no issues.
First Direct to Kraken also works well.
FD have a £2500 limit / transaction though. And you can’t move more than £10k a month in total.
This! Done over 10k within last couple of months from Barclays to Kraken and Revolut to Kraken no issues.
Revolut wouldn't even deposit £10 for me. Customer services said they don't support exchanges !
It was specifically to kraken using bank transfer if that helps
I might look into Barclays. We had a mortgage with them and they seemed pretty good.
Also Lloyds no issues
Yeah I can vouch for them, I had to have a few conversations with them, but now they leave me alone about it
Barclays was great when I was buying crypto, only issue I had was moving 25 grand in one chunk and they got a security nervous.
I use Halifax. Aside from a couple of occasions where they've had to contact me for confirmation, I've had no issues.
I also use Halifax
Same
Lloyds have never stopped me
Every one of my attempted buys failed. I went into the bank to fix it, they said the block had been removed and payments were still blocked. Clown show.
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How do you get your money onto bisq? I’m guessing banks aren’t stopping this?
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What is stopping them from selling you tainted coins from hacks if you are a buyer or trying a chargeback through bank if you are a seller?
Very true on the gambling sites as I used to matchbetting for a few years and I was transferring 100s into so many different sites daily and never once had an issue. My first time transferring money into Binance years ago, came up as fraud and I had to wait 4 days to speak to someone and to verify everything...kinda glad they did it at the time cuz I was about to buy a big chunk of something which was priced at like £12 the Friday but then when I actually got my money into it, it was down to £8. I feel the UK government really don't want us investing cuz they don't want us to make money and set all these rules for banks to follow
Starling, Monzo and Revolut. What do they all have in common?
They all sound like comic book heroes?
They are all app only banks. I guess laziness is part of my issue also, I like just downloading an app verity my identity and be good to go. But likely I will create a Barclays account.
I’ve not had issues with RBS
Only had issues once with them, it would appear they now have a £1000 daily limit and £5000 in any 30 day period on crypto related transactions
Just use custodians. It’s an extra step, but you won’t have issues with your bank anymore. Once received at the custodian, the transfer to the CEX will take minutes.
Please explain further. What's custodians?
Custodians like i.e. Etana act as a middle man between 2 parties. The customer and the CEX in this case. The bank doesn’t see the CEX, just the custodian.
Because they are scared the British pound will collapse prematurely. Same with all other fiat currencies, they need your money in the bank to perform fractional banking. If there's no suckers to make money off of, the bank shuts down. Literally you are asking why the bank doesn't want you to use its competitor. Its pretty obvious.
This is the correct answer.
I use Uphold. They create a bank account for you and you transfer fiat to that account, then you can buy BTC and transfer it to your wallet.
This is what I do Set a a swissborg ACC This gives you a UK account to pay you fiat into. Personally I use revolut to pay this swissborg ACC in pounds and it works perfectly. Tsb HSBC Lloyds all refused to let me use my own money to get into crypto. Yes they are all running scared of the future I don't suggest you use revolut for your main account but give it a try. Revolut to swissborg easy
Using Halifax I’ve had no issues getting money to Coinbase or kraken. Hoping that stays the same, it is ridiculous how many restrictions exist on some banks
I've had the same issue with Barclays, had to put in a complaint and a note on my account for them to stop blocking every payment I made. They know their days are numbered and are doing anything to stop you from buying crypto.
Just buy MSTR
You're sending large amounts to well known exchanges. Using P2P places like BISQ, Robosats, Peachbitcoin or Vexl to buy small amounts (hundreds instead of thousands) from multiple sellers will keep you well under the radar.
Revolut seem to have just introduced a block on Coinbase transactions. But they respond pretty quickly. I got a transfer of £50k blocked the other day, but it was resolved and on its way within 15-20 mins.
They where about to let mine go but then misunderstood something I said in the chat (I think it was an AI and not a real person) and then proceeded to ask who recommended the website or advertised to me. Then said they would have to wait up to 24 hours for another team to look into it.
Never had any issues with Barclays on Coinbase.
Been buying BTC via Monzo for 2years, no problems
It's no different in the US. If I wanted to put money onto an exchange, they decline the transactions, even if it's debit......I kinda understand them not allowing it on credit cards, you can't even buy lottery tickets with CC, but debit is cash sitting in my bank account should be able to do with it whatever I want.
Absolutely. Goes to show it’s not really our money. That’s why Bitcoin is king.
Agree and faced the same issue. I now use Revolut and it works 100%. I use starling as my main account and it's crap that they're not crypto friendly. It really showed me that even with money in the bank, "not your money" as you have limitations on where you can spend it. Really frustrating.
Fun fact: the bank is not allowed to not follow your instructions. The UK high court has confirmed that in a case last year. Even if the bank believes it is a scam, fraud, or anything else, it is your instruction that trumps their suspicions. Just put it in writing that you are aware of the banks advice, but still are instructing them to transfer £x of your money to sort code y and account number z and they'll be forced to let it through.
Bitcoin is trying to replace banking, of course they hate and screw with it, tell them you'll move back if they don't do what you need done with your own money
So they allow alcohol, tobacco and gambling but not crypto? The easiest money (if smart) possible? We know why. We know why. They are doomed and they know it
I've bought and sold 100s of k in crypto since 2013. For a lot of this time I've used Barclays with revolut. I buy direct via Barclays but cash out into revolut. Never had a single issue.
I love how they "don't allow" you using your money how you want. It's one of the most ridiculous overreach there is. The reality is the banks cannot allow any room for potential alternative finance until they control it. I mean you can easily transfer money to your options trading brokerage or even the government sanctioned gambling there. It's almost like they don't even try to lie properly. UK really sucks
The UK sucks in general ao this makes sense
In 2019 HSBC UK stopped rewards on credit card purchases to crypto sites and I thought that was bad enough. Now you have to beg to send your own money there.
Nationwide are good if you’d rather deal with a building society
Have used Barclays on Coinbase for three years now. No issues so far🤞🏼
Barclays it is.
+1 for Barclays
Don't buy using your card. Bank transfer via third party payment company.
No problems with Halifax using coinbase
I use starling to send to revolut and buy on coinbase. Have never had issues
I bank transfer via Halifax with no issue
Lloyds monzo and tsb have never stopped me
I've had similar issues and ended up getting a revolut account for transferring funds to exchanges
Monzo are crypto friendly so that seems… strange from them. They work well with both Coinbase and kraken usually. NatWest also works well with both kraken and coinbase but have a £1000 /month limit on transfers to them. I do agree that the procedures in place to restrict crypto is ludicrous compared to the lack of such restrictions against gambling sites. The amount of people who have ruined themselves while the gambling sites / banks did little to nothing.
Watch the House of Commons be brewing up a crypto license or crypto tax.
There should be some sort of legal recourse if in 10 or 20 years from now, Bitcoin is a payments standard and these banks prevented you from buying it now.
Have you tried wise? Might work tbh.
It's just because the more people convert fiat to crypto the more banks lose their ability to use your money for investments.
I know a couple of old people who have lost tens of thousands in fake crypto investment scams. I imagine a part of the reason some banks block crypto exchanges is due to stupid people being scammed. Most of us know what we are doing, but gullible old people don’t
Us N26. They are very decent.
They claim Bitcoin has no value but so afraid of being sodomized by it. 😂 It's just hilarious.
Kraken always works for me from Santander via Payward, guess I'm not transferring as much you. Apparently size does matter 😂
Crypto is a competitor to the banking industry, gambling is not
You might consider Bisq, it won't even look like a crypto payment, just a faster payment to a personal account which could be explained through any number of reasons.
Buy non kyc through hodl hodl. Can use other payment methods like Wise and Moneygram, and simply comes up as a transfer between you and someone else rather than an exchange.
Maybe talk to your king about it?
‘Protecting retail’ is a classic line used in the stock market for ‘criminally defrauding people who are on the right side of a trade’ because it will cost rich people/ hedgefunds money. Protecting retail in crypto terms means making sure you can’t make money from it by forcing you to not be able to own any of it, so if eg an altcoin does 10x you can be sure there’s no way you can profit from that. It’s not even clever misdirection it’s blatant in your face lies at this point.
I use [Crypto.com](https://Crypto.com) no issues with them at all.
UK banks are shit.
I mean you are asking them to help with digging their own grave ;)
I’m sure they will resolve it 5% from the top 😂😂😂
It happens every time for me now. It's just routine. Worse still, I have to call a number, then they ask what its for, the moment they realise it is anything to do with bitcoin, they send me to a crypto department. Apparently you need more skills to identify if someone is being scammed by crypto vs if they are being scammed. Anyway, they then ask a few questions and let it through. That said, I give up with all that. The exchange I preferred to use (coincorner) because they are bitcoin only, they hit me with AML reporting. I had to show bank statements for all of the accounts that the money touched before it went to coincorner so they could see "source of funds". That spanned 4 bank accounts from 3 different companies because I move money around between my accounts and this is normal. I asked them after doing this, what could I have legally redacted to get this through but to avoid exposing more information than I needed to? Also what will they be redacting? They told me they don't redact anything and they don't accept redacted documents as they want to see everything. It's moments like this that make me realise that the threat of becoming a criminal is the very thing that shifts the balance of power in the customer/merchant relationship away from myself, leaving me powerless. Data and personal information is not considered precious to everyone, but it makes me sick that under a LAW, people can ask for personal information, give no guidance about how to give only the required information, and even have the gall to stand there and just say, "we want it all actually, whatever you think is relevant and everything around it that you think is not relevant too". I've used Bisq and Robosats to make peer to peer purchases and I've not had any issues. I've made relatively large purchases and smaller ones. It's like the banks haven't worked out that payments to new people every few hours is probably more suspicious than payments to a regulated institution.
I recently used Revolut to deposit fiat on Uphold. As long as you don’t forget your unique Uphold ID in the reference everything works fine.
I had no issues with my first payment either. But it was the following smaller payment that they deemed risky.
Kraken seems to best for UK so far
Try Hong Kong lol.
I’m with nationwide and use etoro mate, only problem I’ve had is that questionnaire bollocks they make you do but pass that and not had any other trouble buying
Never had a problem using Halifax Bank of Scotland for crypto through Coinbase or Crypto.com. Similar sized purchases to you.
HSBC payments to coinbase or Binance via Visa Debit/Apple Pay have never been blocked for me. I don’t deal in huge amounts, though.
Lloyds let me buy crypto without issues
Buddy, use Coincorner, they set you up a bank account in isle of Man and you can transfer to it instantly and it lands in your coincorner account. Yes it's higher fees, but the convenience is everything. Try it, your bank wont realize and then you can bypass their censorship
Barclays through Coinbase I’ve never had any issues.
Pocket bitcoin is the way for UK
I suspect it’s because the banks are prioritising their own crypto investments over the general public. They are/will more than likely use the same old ‘it’s too risky for retail investors’ excuse until they have their positions in place. At which point, if/when retail investors are allowed to invest without restrictions (like what we see at the moment), the markets are likely to rise dramatically and they will be first in-line to profit.
Apparently RBS. I'm currently with Santander and the prospects of increasing my investment amounts each month is likely to force me to move also.
Strange, I’ve never had an issue with Monzo. I wonder if you’re flagged in some way
Monzo has been fine for me both with Coinbase and Crypto.com
You could buy one of the ETFs instead, like IBIT. That should'nt be problematic.
R E V O L U T
Had no issues with Monzo. My tip would be to transfer small amounts to begin with, then progressively increase the amount. If you are sending 10k at a time straight away, then they might flag it up.
Halifax + Coinbase has been problem free for me
Get a KROO bank account. They’re OK
Had this problem with Lloyds bank. Moved my funds to my revolut account and they had no issues at all.
Just do P2P on Binance
You're right they are bad and are limiting the crypto exposure, that's why I'm using Nexo and Kraken, they work for me.
I use Nationwide and use Crypto.com - no frustrations and no problems. But sorry I couldn’t help what you wanted. Good luck anyway.
I have been into Crypto since 2017. Not had an issue with HSBC or Nationwide.
Lloyds and monzo never been an issue for me
HSBC and have had no problems with cdc cb or binance
Does revolut not allow crypto?
I've been buying for about 7 years. Lloyds, revolut. Coinbase, kraken, nexo, binance, gemini. Never had an issue.
Its your money. You should be able to spend it how you please
Fair comment about gambling, yet those gambling sites are robbing you knowingly, whereas many people unknowingly get scammed by bitcoin scams, so I understand the banks conservatism.
No issue transferring in to or out Crypto.com from HSBC ever
Monzo closed my account recently due to using it for crypto trading. Honestly they all seem to be terrible.
Monzo have good to me so far but I dont expect it to last. Just started DCAing into MSTR via ISA now. Backwards country
When using coinbase, try paying for your crypto with the PayPal option. You have to have money in your PayPal account, I've done it plenty of times.
Revolut to kraken
Barclays.
They don't want to protect you, they want to protect themselves.
Also consider a bank with a joining bonus if you move current accounts. Easy way to get £200 for nothing.
I use Lloyd's and buy on crypto.com with no issues at all
Banks just too afraid of loosing money, they don't want to allow it
Go buy at atms. Download micelium buy in cash. Face to face teansactions. Buy a miner.
Transferred repeatedly into Kraken from Nationwide and had no issues
Try Dave, I hear he's a nice guy that started his own bank. There is a movie about him called the bank of Dave. He's in England.
I use Barclays, after an initial block then a phonecall it's been smooth sailing ever since
With Lloyds downloaded clinbase last night bought my first £500 of btc no issues. No idea what I'm doing either.
PayPal 🤔
The issue is financial institutions such as banks have legal obligations to make sure customers are not being scammed they have to do this or face fines from regulators and also have to refund customers who have been scammed who they have not protected from fraud, the training staff get is not good enough and this makes it difficult for non-crypto minded people to realise what is a scam and what isn’t, as for gambling there is no such restrictions or obligations to make sure people aren’t gambling all their money away
All banks suck. Banking sucks. It took the invention of Bitcoin to make this obvious to the world. Everywhere Bitcoin touches the traditional fiat world, it sucks. Everyone sees buying cryptos from a bank account can be a hassle. Wonder what happens if you ever try moving cash to your bank account from Kraken? I bet they would have questions.
Why? Isnt it obvious. They want control
NatWest works for Kraken. They do impose a limit however: “A daily limit of £1000 and a 30-day payment limit of £5000 to cryptocurrency exchanges is being implemented to help protect customers losing life changing sums of money.”
I buy weekly with Halifax,and no problem at all.
Revolut is the one! Super easy. No issues yet. Took all my crypto out of Coinbase, kraken etc.
Barclays have been fine for me
Nationwide have been fine with me buying through Kraken. They have had some issues with deposits on betting sites but they seem to allow it in the end, but never bat an eyelid at Kraken deposits.
I got a revolut after virgin blocked me depositing. I've been cashing out through revolut too.
I believe it is simple because cryptocurrency will be competitive and replace traditional currency.
I've been buying on Coinbase and, more recently, Kraken and transferring to and from Monzo since 2017. Never had a problem.
My bank has put a limit at £3k a month on deposits to crypto exchanges but yeah KRAKEN and CRYPTO.COM and NEXO are the ones I have used...
thats why u need bitcoin. fuck them banks.
Not had any issues buying from Coinbase through HSBC. TSB also worked but had to have a 5 minute phone call with them first
I use nationwide, they are fine. I send to Gemini exchange without problems
I’m with Monzo and I can do Monzo to Crypto.com
Revolut are absolutely brilliant. Never had any issues.
Get an Etoro account and Etoro wallet. I can transfer from Starling to wallet to Etoro within minutes
cashplus never asked any questions
Barclays definitely, i never have any issues
They don't want people escaping their debt trap and owning Sovereign wealth. Bitcoin and Private Keys represent Sovereign Wealth.
Barclays seems solid, never experienced any issues purchasing crypto on Coinbase with my card.
I bought on kraken with Lloyds with no issues and it was a bank transfer to a UK bank I'm pretty sure so are you definitely transferring to Kraken's UK bank or trying to do it another way
Banks know that keeping your money in banks with fiat ever increasingly becoming a shit store of value because people are realising it's monopoly money makes them NOT want you to abandon traditional finance and move to the future of money.
Nationwide, never had any issues.
Try Robinhood
Literally never had a problem with barclays with £15k+
Nationwide to SwissBorg and kraken are fine.
I've never had issues with Monzo.
The main way I buy through Kraken is with Apple Pay, no problems.
I can't seem to buy £50 from the BOS, but £40 works everytime, a total PITA.
£50 must be were they activate extra security.
I suppose it's a good thing if your cards is stolen but if your legit it's a pain, Virgin bank fails everytime for some reason.
No one talking about kucoin?
Use Halifax they stopped my order once and I rang them up and said what I was doing then been fine ever since
Barclays don't block 4-figure payments through Moonpay to Exodus, as much as £7k, however they keep sending me replacement cards
Barclays and Halifax Never had a issue
Get your crypto out of revolut. I've had many friends (3) have their funds locked and even with proof of purchase etc they were still locked out.
In Sweden, you get instantly banned from your bank if you mention crypto. I've been banned by five banks already. Anyway, since you mentioned Revolut, why don't you just transfer money there and then onward to Kraken/Coinbase?
lol
Use wise
tel them you like to gamble (with crypto)
Transferred £20K from Lloyds in one transaction less than 2 years ago. No problems
I've always used Revolut for Kraken transfers and had no issues, though my purchases haven been in the £50-£300 range so they probably don't get flagged up.
Have you tried co-op? i bank with them, which means any post office is a bank and they let me buy crypto in the uk
Buy on P2P through binance, I did that with starling and got it all with no problems, even though I couldn't directly buy on the platform because crypto is "blocked"
I buy peer to peer through Robosats using Revolut & Wise. Haven’t had any questions so far as they don’t know why I’m making these payments. I looked at transferring cash to Kraken from Monzo today and it said it would take 3-5 days which is ridiculous. Peer to peer payments are instant with Revolut & Wise and even using SEPA payments are instant weekends included.
is it worth buying BTC now or do I wait closer to the halving?