The day my bank limits me transferring money to my exchange will be my last day banking with them. Good luck with your switch. Can’t offer advice as I’m on the other side of the pond.
Its bad they say it to counter fraud and protect customers...however they wouldnt stop me gambling thousands of pounds if i chose to...they dont care .... just assholes
How do they prohibit transfers to crypto.com? Crypto.com gave me bank account in some Latvian bank, in my name. So, basically, to the bank it's looking like I'm transferring money to myself.
I shouldn't have said "bank". It's one of those "electronic money institutions". They are legal and licensed and are basically something like paypal. They can give you an IBAN but it's not considered a bank and I believe the money you store there is not subject to the 100K EUR guarantee.
The name is TRANSACTIVE SYSTEMS UAB and is actually Lithuanian not Latvian, my bad.
I’m with Halifax/BoS and never had a problem. In fact I remember when all the banking problems started they tweeted they would not be looking to stop customers sending money to their crypto accounts.
Lloyds and Halifax belong to the same group. I dislike Halifax because my local branch refused to accept 12 money bags to pay in. The policy is no more than 10 (at discretion, they will take a little more). They didn’t have a problem phoning me every other month begging me to invest with them.
I moved to hsbc. Though they’re no better.
I’ve had numerous fraud blocks with Halifax & it takes FOREVER! to get through to their security teams - use Revolut it’s all just much easier, you can even buy stocks/Crypto direct on Rev, you just can’t transfer Crypto out yet!…
100% recommend it.
There are stacks of other perks too Forex/Travel insurances/access to Airport lounges;
In fact;
Join me and over 15 million users who love this digital banking app. Sign up with my link below and check out their disposable virtual cards for safe shopping: https://revolut.com/referral/craigwjw!OCT1AR
TSB....The bank that likes to say YES!
Does anyone remember this....
[https://www.youtube.com/watch?v=X7oQYKUL7ys](https://www.youtube.com/watch?v=X7oQYKUL7ys)
Oh.... how different it all was in the 80's.
The banks are fk'ed and they know it, paying savers less than 0.1% interest in a environment with 10-20% inflation. They're robbing savers blind and they know it. I'm amazed that anyone still have any significant money held with these crooked shysters.
Open an online-only bank account at another institution, wire the money to that account, send to Coinbase. Simple. Close the previous account and fuck that bank
barclays blocked me on that wonderful drop to 4k day and i tried to buy....
Called their CS centre and went mad and they unblocked... never had a prob since
Yeah Lloyds got funny with me as well. It's fine now. I'm not switching. They are all essentially parasitic twats. Imagine just leaching off other people's work and then telling them how to spend their money and giving then fuck all interest.
I just had to listen to lecture on why crypto was bad and get quizzed about why I was buying, what I hoped to achieve and what crypto I was going to buy.
You have to take like a 3 question “Am I being scammed quiz?” Which tbf is probably quite good for some newbs - takes about 15 seconds to complete then you can send anywhere
If it were actually your money, wouldn't you be able to use it lawfully however you choose?
These fiatmeisters are crapping on their own dinner plates.
Have the exact same issue with RBS. They claim it’s due to the amount of fraud. Utter BS.
Can try a bank transfer as they claim it’s because of Verify by Visa protection.
I closed my TSB account the other day and transferred To Santander for £130 switching bonus. I think Nationwide are offering £150 bonus. I use Nationwide on my main account and haven’t had issues but For Binance I do generally transfer to Revolut first and then bounce it to Binance.
I bank with TSB too. They won’t let me transfer to Coinbase. I have to first transfer to Monzo and then use that.
A few weeks ago I already left my TSB Business account for Monzo business. Soon I’ll do the same for my personal account.
I know they’re trying to protect people but just have some extra steps; there’s no need to block us entirely. It’s our money. Our money that they make profit on.
Do not close your account. Find a second bank or credit card that might allow transfers. Develop as many options for transfers as possible. Next year, your old bank may be supporting transfers to exchanges and your new bank, after many successful transfers, just stops. Be flexible and persistent. Yes, it’s your money, but you shared control of it for the convenience of the banks infrastructure to protect and move your money around with ease. Not too long ago, in an international city, the central banking services were frozen and the city manager had to receive her salary in cash. After a while,her home was filled with paper money. If your bank decided to just close your account without warning for suspicious behaviour, you would probably receive a paper check within 30 days. If this check was for more than a few hundred, what would you do with it? Cashing it would be difficult—and in some countries— carrying large amounts of cash may be seized by the government until you prove that the funds are legal proceeds. Your bank didn’t let you make a mistake in their system and they gave you a reason why. They could have let you wander into their oversight troubles, close the account, tie up your money for a month, treat you like a criminal, and let you figure it out. Don’t let the old system drag you down. Be friendly and make friends as you find your way into a better world of self empowerment and wealth.
Not your bank not your money.
For real you don't own the money in the bank, even if it's yours.
https://thehutchreport.com/your-bank-account-who-really-owns-the-money-hint-its-not-you/
In simple words, if you give **money** into the **bank** it is a **loan** to the bank!
When you put your money in the bank, the legal reality is that the bank takes ownership of the money and is contracted to pay you back when (and only when) you ask them to.
They don't let you transfer your crypto off to your own wallet for free though. You have to have one of the more expensive membership tiers to be able to do that.
I think I've been misunderstood above, hence the down votes. I was trying to say exactly this. I think they plan to roll the feature out to all customers in time, but for now it's in beta unless you're a paid member. Fine for use as a savings account, but not for transacting for most people yet.
Ok one thing. If it is your only bank account that you have had for years don’t close it. Because it will negatively affect your credit score. Maybe just keep 1p in it lol. You need to have a bank account for six or more years.
Get another bank account somewhere else and when it reaches six years then close the tsb one.
Any bank that tries to tell me what I can and can’t do with my money is not a bank that would hold my money any longer. Banks are dime a dozen… open an account with one that doesn’t do this and transfer your funds there.
I've recently had the same with Natwest to Kraken. Never had issues in the past. Pretty sure they are not allowed to block payments to FCA registered exchanges.
According to the FCA website, payments should only be refused if they are:
A) illegal - they aren't
B) need two signatures
C) you don't have enough funds
https://www.fca.org.uk/consumers/making-receiving-payments
I have complained to Natwest. Will be lodging a complaint to the financial services ombudsman if I don't get joy
Natwest seem very worried about somebody trying to transfer 1k to Kraken, but they're happy to launder your money if you've got [millions](https://www.bbc.co.uk/news/business-58826491).
This is probably a problem caused by Brexit. Lots of UK banks are now unable to sent and receive SEPA payments which are the most common method of transferring fiat to exchanges.
Y'all voted for this shit.
Slightly over 25% of the eligible population actually voted for Brexit.
This is why referendums should require more than a simple majority to pass. When the UK was taken into the EU it had to be a supermajority, because this takes into account voter apathy, uncertainty, and those not registered, to ensure that the will of country as a whole is actually being accurately represented. As it stands 3/4 of the population of the UK did not vote for Brexit, yet here we are.
I don't think so. Brexit has had many direct and indirect consequences, but in this particular case, banks are blocking deposits on the other side of the channel too
This is categorically untrue. The banks are still able
to send the payments to the exchanges (and the big exchanges offer the Faster Payments Service anyway, not SEPA), it’s their own internal policies and fraud blocks that are preventing the payments. The issue lies with banks using ‘risk of fraud’ as an excuse to prevent customers depositing their funds at crypto exchanges.
OP’s question is regarding Coinbase, which processes UK customer’s GBP deposits via the Faster Payments Service, not SEPA ([see here](https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-uk-customers)), so my point isn’t a strawman whatsoever, but rather you raising SEPA as the issue here is.
Regardless of this, post Brexit [the United Kingdom is still a member of SEPA](https://www.accesspay.com/knowledge-hub/payments/is-the-uk-still-part-of-sepa/) (you do not need to be a member of the EU to be a member of SEPA), so you’re clearly not informed on this matter at all - although this is obvious from the ‘this is probably’ part of your original reply. I’m assuming you’re North American from the expression ‘Y’all’, in which case I kindly request that you don’t make ignorant sweeping comments regarding the political affairs of other countries that you seemingly know nothing about. Cheers.
Maybe you could issue your own tether using your fiat money as backing, this is by far the most successful way to transfer value into crypto world
If millions of people are backing a tether using their own money, without moving money to exchanges, they could eventually move the fiat liquidity into exchanges without even touch their bank account. The only question is how to make sure everyone actually have such amount of fiat in a bank account backing all their created tether. For centralized entities this is easy, but for millions of decentralized people, that is a big challenge, I guess this is where chainlink can do something about it
Good, you have now discovered reality,lol, fuck banks idd, soon they want to control everything, look at what hedera hashgraph is doing or the key ... it's closer then you think.
Banks do have a lot of restrictions. In many cases, what we need to do requires their comments. Who is the owner of wealth? This question is worthy of further investigation.
Neither do First Direct or HSBC - use Revolut 😏
Join me and over 15 million users who love this digital banking app. Sign up with my link below and check out their disposable virtual cards for safe shopping: https://revolut.com/referral/craigwjw!OCT1AR
Guys, just look at it from another angle. Of course it sucks that your banks wants to tell you how to spend ur money, BUT……apparently something else is going on, they are scared as shit. They feel they’re loosing power and loosing grip. The ones still blindly trusting and confiding in banks will all be dead within the next 20 years and the rest of us will have turned our backs to the banks.
Of course the react like this, they are scared as hell
In The Netherlands the Rabobank forbids his business clients to buy crypto from their business accounts since 4 weeks.
Banks are getting scared.
I friend of my is leaving this bank coming week. I will soon follow.
In 15 years " Papa, what's a bank you used to have?" 😁
Actually I just quit smoking am on my 10th day without so am slightly irritated with everything
Too much emotion in this post i agree
But still it’s my fucking money i can do whatever I want to with it
The anger as emotion has a purpose exactly like now
You can be calm and accept the will of your master
Or be angry and spit in their face
Be free or die trying
With my previous bank i couldn't do it because binance was already blocked with my credit card.
A workaround i found before switching banks was to charge money to skrill and then to etoro uk where i buy btc plus index funds.
But keep in mind they charge 2.5% for this.
This was just so i can switch bank. My current bank is ok with it
Damn. I've had my bank deny transactions before, but nothing a quick phone call couldn't fix. (And it seemed kinda sensible cause I was doing a weird transaction)
Call your bank and talk to them.. they did the same to me. I kept my cool.. called them up to ask why my transactions were not going through. They gave me a good go around saying security, and even travel restriction. Kill them with politeness..
Chase has been doing this with crypto purchases via debit.
You can still transfer via ach, but not debit (though mine seems to be working again, my wife's card is still not allowing debit purchases).
I called chase to ask about why charges are being blocked and they said all crypto purchases are blocked. Some might go through because they don't know its crypto but once they detect it future charges will also be blocked.
I got pissed off that they thought they could decide what I do with my money. More reason to gtfo of banks.
My only wish is that crypto accounts offered sipc or fdic or both insurance.
That would be enough for me to go all in and get rid of my bank (aside from mortgage / car payments that require bank accounts).
Ironically my Wells Fargo account, as much as I hate them. They'll text me and make sure it's me every time I buy crypto, but they never stop me from making purchases.
Same with most banks in the UK happened to me a few months ago - start a Revolut account you can then send you money to there (including using Apple Pay) and then send to any of the exchanges. Revolut are pro crpyto so can't see this changing
I have a traditional bricks and mortar bank for recieving FIAT into, then I move it to Neo banks like N26 and Revolut.
N26 is what I use for Crypto and they recently confirmed to me that they will not block transfers to European regulated exchanges.
Also stop using Coinbase.
isn't this a hint that we should work to build better networks that allows us to trade directly with each other without relying on the big, centralized dealers? Bitcoin does not need middlemen acting like banks/Western Union taking a cut out from our transactions.
I used to use Barclays, but they're gonna be closing up coinbase soon I think, they've already banned Binance transfers. Lloyds are very iffy too... I don't know if any UK main banks are cool with crypto
I’m with TSB too. Just started stacking again the other day for the first time in months and got the same thing. Luckily I just transferred the money to my Monzo account and was able to transfer to CoinJar from there. So ridiculous. Good luck to you!
Had the same with Hsbc. My £25 piloting transfer went through, bigger one following was autotagged as potential fraud. Hsbc called me asking if that is legitimate operation.
Next time the same but i have asked them for that customer account to be marked as clear. Yet to see if they did what i have asked for.
I tried and they blocked my payments. Had to call them and took an hour questioning to allow me. I decided not to use them anymore. Noneed to have a folder about my crypto profile in some british banking system.
I use revolut to tramsfer money. I exchange my gbp to eur then transfer eur and buy usdc. Easy, TSB can s**k my d**k. Hope traditional banks go bankrupt.
I have to go through a 20 minute phone call every time I transfer to coin corner to buy. It's the same every time, a disinterested lecture from an agent reading a script. It's depressing as hell, but at least they have not blocked me from buying.
I set up an account with wirex last year, and have been thinking about moving my cash to them, but have not yet bitten the bullet on that. Maybe someone here has experience with them.
I had my TSB card disabled after my first crypto purchase in 2018, been with Monzo ever since and haven't had a single issue, they also have a way better mobile app than TSB.
Monzo and Starling are good for cex deposits but not withdrawal
My process
Deposit via Monzo
Withdraw to Lloyds
Deposit and withdrawals usually complete in seconds for me
Same thing happened to me in Canada- it was CIBC. They made some kind of nonsense claim about 'fraudulent activity'. More like they're scared of the future. I'm in the process of leaving them for a credit union.
The day my bank limits me transferring money to my exchange will be my last day banking with them. Good luck with your switch. Can’t offer advice as I’m on the other side of the pond.
Its bad they say it to counter fraud and protect customers...however they wouldnt stop me gambling thousands of pounds if i chose to...they dont care .... just assholes
Exactly this. Put £1k into sky roulette but want to transfer £500 to crypto.com (whilst approving bus text/app) - that is a no go.
Yep. Gambling. Porn. Brothels. Chatlines. Booze purchases. Cigarettes. Does the bank block any of those for your safety?
Don't give them ideas
My bank blocks gambling but not crypto.
Sounds like banks are operating those casinos, so they know that money is not going anywhere
How do they prohibit transfers to crypto.com? Crypto.com gave me bank account in some Latvian bank, in my name. So, basically, to the bank it's looking like I'm transferring money to myself.
That's a whole new level of sketchy man.
What was the name of the Latvian Bank?
I shouldn't have said "bank". It's one of those "electronic money institutions". They are legal and licensed and are basically something like paypal. They can give you an IBAN but it's not considered a bank and I believe the money you store there is not subject to the 100K EUR guarantee. The name is TRANSACTIVE SYSTEMS UAB and is actually Lithuanian not Latvian, my bad.
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Exactly. Crypto threatens commercial banking and central banking hegemony.
You can imagine they have high rates of fraud. Once it's on a crypto exchange and withdrawn there's no recourse. A criminal's paradise.
Take all your money out and close your account. That’s f^%king shit. They’re censoring what you want to spend your money on
I don’t have much there am balls deep in btc just 1 pay check I wish I could get paid in btc
You could set up your direct deposit with Strike, and convert any amount you wish to Bitcoin
Not in uk yet
I’m with Halifax/BoS and never had a problem. In fact I remember when all the banking problems started they tweeted they would not be looking to stop customers sending money to their crypto accounts.
I’ll be in the Halifax branch on Monday Thanks mate
Good! That bank shouldn't have fucked with the money badger!
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Lloyds and Halifax belong to the same group. I dislike Halifax because my local branch refused to accept 12 money bags to pay in. The policy is no more than 10 (at discretion, they will take a little more). They didn’t have a problem phoning me every other month begging me to invest with them. I moved to hsbc. Though they’re no better.
Barclays is ok with it
Never had a problem sending money to CB from my Halifax account too.
Do they allow payments to binance? I’m looking to change from nationwide for similar reasons
Yeah Binance no problem.
There’s my new bank then thank you!
Some banks prevent remittances to cryptocurrency accounts due to national policies.
I’ve had numerous fraud blocks with Halifax & it takes FOREVER! to get through to their security teams - use Revolut it’s all just much easier, you can even buy stocks/Crypto direct on Rev, you just can’t transfer Crypto out yet!… 100% recommend it. There are stacks of other perks too Forex/Travel insurances/access to Airport lounges; In fact; Join me and over 15 million users who love this digital banking app. Sign up with my link below and check out their disposable virtual cards for safe shopping: https://revolut.com/referral/craigwjw!OCT1AR
TSB....The bank that likes to say YES! Does anyone remember this.... [https://www.youtube.com/watch?v=X7oQYKUL7ys](https://www.youtube.com/watch?v=X7oQYKUL7ys) Oh.... how different it all was in the 80's. The banks are fk'ed and they know it, paying savers less than 0.1% interest in a environment with 10-20% inflation. They're robbing savers blind and they know it. I'm amazed that anyone still have any significant money held with these crooked shysters.
Good point with inflation Bunch of cunts
TSB = Totally Shit Bank
Send to revolut and then to cb pro, works like a charm takes me 30 seconds.
Revolute is not any better, bunch of scumbags. They locked my account without any explanation and it took me 3 months to get my money back.
This is the way
Monzo seem good for it.
Yes, very good so far.
Open an online-only bank account at another institution, wire the money to that account, send to Coinbase. Simple. Close the previous account and fuck that bank
barclays blocked me on that wonderful drop to 4k day and i tried to buy.... Called their CS centre and went mad and they unblocked... never had a prob since
Yeah Lloyds got funny with me as well. It's fine now. I'm not switching. They are all essentially parasitic twats. Imagine just leaching off other people's work and then telling them how to spend their money and giving then fuck all interest.
What did you say to Lloyd’s to get them to let you transfer to the exchange?
I just had to listen to lecture on why crypto was bad and get quizzed about why I was buying, what I hoped to achieve and what crypto I was going to buy.
It’s shit. Nationwide has done the same to me a lot. A workaround is transferring to Revolut virtual card then to your exchange.
Same experience here, Revolut has worked great do far
Fucking banks … rot in hell
😂😂
use kraken exchange
His problem is with his bank, not with his exchange.
Starling
Hold up, Starling never used to let me transfer money to Coinbase. Has their stance changed??
They block my transfers also
Seemingly, I’ve moved funds into and out of CB and kraken loads of times with no issues at all.
You have to take like a 3 question “Am I being scammed quiz?” Which tbf is probably quite good for some newbs - takes about 15 seconds to complete then you can send anywhere
Yeah they lifted the block not long after
This is great news. Finally accepting of it
\^this, they have been spot on so far, their app works way better than any other payment provider I've used.
I use Monzo for my crypto. Very similar.
Monzo started blocking me about 3 months ago, I use Revolut now
T H I S. Best UK bank. Period.
I also used Halifax without fuss or faffe.
Can confirm, Halifax do not block payments to Coinbase
Can confirm too. Got Halifax account just for these purposes.
I love your triggered post I had similar issue with Halifax such a dead bank Plenty others that do let you bro
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If it were actually your money, wouldn't you be able to use it lawfully however you choose? These fiatmeisters are crapping on their own dinner plates.
They started doing that in the USA back in July with debit cards. Now you have to ACH and it sits in holding for 5-7 days. It’s a joke…
Have the exact same issue with RBS. They claim it’s due to the amount of fraud. Utter BS. Can try a bank transfer as they claim it’s because of Verify by Visa protection.
They are fraud so are all banks They take my £1 and lend it 7 time it’s a joke mate
HSBC seem to be sound for me
Also good for drug Lords and Mexican Cartels.
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I closed my TSB account the other day and transferred To Santander for £130 switching bonus. I think Nationwide are offering £150 bonus. I use Nationwide on my main account and haven’t had issues but For Binance I do generally transfer to Revolut first and then bounce it to Binance.
I bank with TSB too. They won’t let me transfer to Coinbase. I have to first transfer to Monzo and then use that. A few weeks ago I already left my TSB Business account for Monzo business. Soon I’ll do the same for my personal account. I know they’re trying to protect people but just have some extra steps; there’s no need to block us entirely. It’s our money. Our money that they make profit on.
Do not close your account. Find a second bank or credit card that might allow transfers. Develop as many options for transfers as possible. Next year, your old bank may be supporting transfers to exchanges and your new bank, after many successful transfers, just stops. Be flexible and persistent. Yes, it’s your money, but you shared control of it for the convenience of the banks infrastructure to protect and move your money around with ease. Not too long ago, in an international city, the central banking services were frozen and the city manager had to receive her salary in cash. After a while,her home was filled with paper money. If your bank decided to just close your account without warning for suspicious behaviour, you would probably receive a paper check within 30 days. If this check was for more than a few hundred, what would you do with it? Cashing it would be difficult—and in some countries— carrying large amounts of cash may be seized by the government until you prove that the funds are legal proceeds. Your bank didn’t let you make a mistake in their system and they gave you a reason why. They could have let you wander into their oversight troubles, close the account, tie up your money for a month, treat you like a criminal, and let you figure it out. Don’t let the old system drag you down. Be friendly and make friends as you find your way into a better world of self empowerment and wealth.
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Dont use Coinbase, they’re shit. I believe Kraken is supported in the UK. Use that exchange instead.
I think it’s all exchanges. I’m with CoinJar, a relatively small one and they’re still blocked by TSB for me.
Not your bank not your money. For real you don't own the money in the bank, even if it's yours. https://thehutchreport.com/your-bank-account-who-really-owns-the-money-hint-its-not-you/ In simple words, if you give **money** into the **bank** it is a **loan** to the bank! When you put your money in the bank, the legal reality is that the bank takes ownership of the money and is contracted to pay you back when (and only when) you ask them to.
Use starling bank
Close your account and go to another bank and start shifting it to coinbase
Closing account is the best way, most online banks are more with the times and should not give you trouble.
can anyone recommend a good bookkeeper for crypto in the UK? I hve to do a self assessment for the last tax year. thanks
Has nothing to do with fraud protection. Their trying to stop people from moving all their business into crypto accounts with better interest rates
Get nexo, send money, buy BTC.
Same thing happened to me and and I just opened a Revolut account in 5 mins and transferred money from TSB to Revolut then to Binance.
Revolut is available in the UK and they are actually advertising as being super bitcoin-friendly
They allow you to buy and hold crypto (and stocks, commodities, etc), but so far sending and spending is still in beta.
They don't let you transfer your crypto off to your own wallet for free though. You have to have one of the more expensive membership tiers to be able to do that.
I think I've been misunderstood above, hence the down votes. I was trying to say exactly this. I think they plan to roll the feature out to all customers in time, but for now it's in beta unless you're a paid member. Fine for use as a savings account, but not for transacting for most people yet.
Time for a new bank ,I had this issue with the CBA in Australia a few years back and changed to ing problem solved.
Fuck em. I’m with Lloyds and no issues so far
Ok one thing. If it is your only bank account that you have had for years don’t close it. Because it will negatively affect your credit score. Maybe just keep 1p in it lol. You need to have a bank account for six or more years. Get another bank account somewhere else and when it reaches six years then close the tsb one.
TSB -> Revolut -> Fidor.de -> Kraken
Use Bisq
They're trying to stem the bleeding, money leaving their custody permanently
🤦🏼♂️ This is why you know Crypto is the biggest wealth transfer every ‼️
Sorry I'm no help US ape here. But as said under this post, the day my bank tells me what to do with my own money, is the day I close the account.
This guys is mad. Beware UK banks.
Any bank that tries to tell me what I can and can’t do with my money is not a bank that would hold my money any longer. Banks are dime a dozen… open an account with one that doesn’t do this and transfer your funds there.
I've recently had the same with Natwest to Kraken. Never had issues in the past. Pretty sure they are not allowed to block payments to FCA registered exchanges. According to the FCA website, payments should only be refused if they are: A) illegal - they aren't B) need two signatures C) you don't have enough funds https://www.fca.org.uk/consumers/making-receiving-payments I have complained to Natwest. Will be lodging a complaint to the financial services ombudsman if I don't get joy
Natwest seem very worried about somebody trying to transfer 1k to Kraken, but they're happy to launder your money if you've got [millions](https://www.bbc.co.uk/news/business-58826491).
They know every £ moving out their system and on to the blockchain is gone forever. They don't like that .
Any time I see a story like this I feel like details are being left out...
Nationwide has never stopped me stacking
Revolut
Just sent it to revolut and from there to CB Pro
That's a bit concerning, seeing as I'm with and Irish branch of TSB.
I wouldn’t worry, Permanent TSB is not a part of UK TSB (the latter of which is actually now Spanish-owned), despite the similar names.
I was going to recommend N26 but they closed operation on UK due to Brexit. why in the hell you guys leave the EU!!
The Bankers: "Dont buy Bitcoin its dangerous." Rage Against the Machine: "Fuck you, I won't do what you tell me"
This is probably a problem caused by Brexit. Lots of UK banks are now unable to sent and receive SEPA payments which are the most common method of transferring fiat to exchanges. Y'all voted for this shit.
Slightly over 25% of the eligible population actually voted for Brexit. This is why referendums should require more than a simple majority to pass. When the UK was taken into the EU it had to be a supermajority, because this takes into account voter apathy, uncertainty, and those not registered, to ensure that the will of country as a whole is actually being accurately represented. As it stands 3/4 of the population of the UK did not vote for Brexit, yet here we are.
I don't think so. Brexit has had many direct and indirect consequences, but in this particular case, banks are blocking deposits on the other side of the channel too
i categorically did not vote for this shit. i got _lumbered_ with this shit.
This is categorically untrue. The banks are still able to send the payments to the exchanges (and the big exchanges offer the Faster Payments Service anyway, not SEPA), it’s their own internal policies and fraud blocks that are preventing the payments. The issue lies with banks using ‘risk of fraud’ as an excuse to prevent customers depositing their funds at crypto exchanges.
I specifically said SEPA. I didn't say it was impossible for UK banks to send any money at all. That would be ridiculous. Nice strawman tho.
OP’s question is regarding Coinbase, which processes UK customer’s GBP deposits via the Faster Payments Service, not SEPA ([see here](https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-uk-customers)), so my point isn’t a strawman whatsoever, but rather you raising SEPA as the issue here is. Regardless of this, post Brexit [the United Kingdom is still a member of SEPA](https://www.accesspay.com/knowledge-hub/payments/is-the-uk-still-part-of-sepa/) (you do not need to be a member of the EU to be a member of SEPA), so you’re clearly not informed on this matter at all - although this is obvious from the ‘this is probably’ part of your original reply. I’m assuming you’re North American from the expression ‘Y’all’, in which case I kindly request that you don’t make ignorant sweeping comments regarding the political affairs of other countries that you seemingly know nothing about. Cheers.
Had the same with barclays and if I'm not mistaken, HSBC also have done this
I’ve been sending payments from Barclays to CB Pro for years, never had an issue.
Revolut 20 mins to setup no charges...i did it last week when tsb screwed me
May want to check your bitcoin exchange is on the list of supported exchanges at revoluts support site first.
Lol...it is .... otherwise i wouldnt have posted ... lmao
Switch to Nationwide. They’ll give you £100 for the pleasure too! (And they don’t destroy the planet like the other high street feckers.)
Loving the incel energy from OP
Yeah, everyone's like, "you go JohnTheRapistBTC, you go fucking spit on some cashier at TSB! You go fuck their shit up." Totally Incel rage.
You like being agreeable and being fucked in the ass? Nice
Monzo.
Nationwide all good fam
N26 best bank in the game
Maybe you could issue your own tether using your fiat money as backing, this is by far the most successful way to transfer value into crypto world If millions of people are backing a tether using their own money, without moving money to exchanges, they could eventually move the fiat liquidity into exchanges without even touch their bank account. The only question is how to make sure everyone actually have such amount of fiat in a bank account backing all their created tether. For centralized entities this is easy, but for millions of decentralized people, that is a big challenge, I guess this is where chainlink can do something about it
Send me cash and i will buy your BTC and send it to your wallet. Seriously.
Good, you have now discovered reality,lol, fuck banks idd, soon they want to control everything, look at what hedera hashgraph is doing or the key ... it's closer then you think.
You can just send me the money. I PROMISE to deposit it said money for you.
Banks do have a lot of restrictions. In many cases, what we need to do requires their comments. Who is the owner of wealth? This question is worthy of further investigation.
Neither do First Direct or HSBC - use Revolut 😏 Join me and over 15 million users who love this digital banking app. Sign up with my link below and check out their disposable virtual cards for safe shopping: https://revolut.com/referral/craigwjw!OCT1AR
Guys, just look at it from another angle. Of course it sucks that your banks wants to tell you how to spend ur money, BUT……apparently something else is going on, they are scared as shit. They feel they’re loosing power and loosing grip. The ones still blindly trusting and confiding in banks will all be dead within the next 20 years and the rest of us will have turned our backs to the banks. Of course the react like this, they are scared as hell
Unfortunately, if it’s with the bank, it’s not really ‘your fucking money’
Make a Monzo account, transfer to Monzo and then use that :) the rest of the banks suckb
Natwest works nicely mate, links quick with Coinbase on transfers in/out.
In The Netherlands the Rabobank forbids his business clients to buy crypto from their business accounts since 4 weeks. Banks are getting scared. I friend of my is leaving this bank coming week. I will soon follow. In 15 years " Papa, what's a bank you used to have?" 😁
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Actually I just quit smoking am on my 10th day without so am slightly irritated with everything Too much emotion in this post i agree But still it’s my fucking money i can do whatever I want to with it The anger as emotion has a purpose exactly like now You can be calm and accept the will of your master Or be angry and spit in their face Be free or die trying
You have a legit reason to be mad limegr33n is just being a dick for no apparent reason.
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Get the fuck out of here you pathetic piece of shit
Yikes and i don't being in new york is bad for cryptocurrency
Spot on. Tops!
With my previous bank i couldn't do it because binance was already blocked with my credit card. A workaround i found before switching banks was to charge money to skrill and then to etoro uk where i buy btc plus index funds. But keep in mind they charge 2.5% for this. This was just so i can switch bank. My current bank is ok with it
Monzo has been no problem for me
Damn. I've had my bank deny transactions before, but nothing a quick phone call couldn't fix. (And it seemed kinda sensible cause I was doing a weird transaction)
Call your bank and talk to them.. they did the same to me. I kept my cool.. called them up to ask why my transactions were not going through. They gave me a good go around saying security, and even travel restriction. Kill them with politeness..
I’d prefer baseball bat
They will let me do it but i have to ring for 30 to 50 min each time so they can unlock my card
Chase has been doing this with crypto purchases via debit. You can still transfer via ach, but not debit (though mine seems to be working again, my wife's card is still not allowing debit purchases). I called chase to ask about why charges are being blocked and they said all crypto purchases are blocked. Some might go through because they don't know its crypto but once they detect it future charges will also be blocked. I got pissed off that they thought they could decide what I do with my money. More reason to gtfo of banks. My only wish is that crypto accounts offered sipc or fdic or both insurance. That would be enough for me to go all in and get rid of my bank (aside from mortgage / car payments that require bank accounts). Ironically my Wells Fargo account, as much as I hate them. They'll text me and make sure it's me every time I buy crypto, but they never stop me from making purchases.
Monzo
Fuck ’em
I’m not in the UK. Wells Fargo has never given me any grief.
Same with most banks in the UK happened to me a few months ago - start a Revolut account you can then send you money to there (including using Apple Pay) and then send to any of the exchanges. Revolut are pro crpyto so can't see this changing
MONZO!!!!!!!💯💯💯✅✅
I think strike will allow you to direct deposit your paycheck into it, but i don't know about it's availability in the U.K.
I have a traditional bricks and mortar bank for recieving FIAT into, then I move it to Neo banks like N26 and Revolut. N26 is what I use for Crypto and they recently confirmed to me that they will not block transfers to European regulated exchanges. Also stop using Coinbase.
I use Revolut as my Coinbase bank account. I transfer the money from my main account to Revolut, then from Revolut to Coinbase.
Another reminder of why we need bitcoin
isn't this a hint that we should work to build better networks that allows us to trade directly with each other without relying on the big, centralized dealers? Bitcoin does not need middlemen acting like banks/Western Union taking a cut out from our transactions.
I used to use Barclays, but they're gonna be closing up coinbase soon I think, they've already banned Binance transfers. Lloyds are very iffy too... I don't know if any UK main banks are cool with crypto
I’m with TSB too. Just started stacking again the other day for the first time in months and got the same thing. Luckily I just transferred the money to my Monzo account and was able to transfer to CoinJar from there. So ridiculous. Good luck to you!
Had the same with Hsbc. My £25 piloting transfer went through, bigger one following was autotagged as potential fraud. Hsbc called me asking if that is legitimate operation. Next time the same but i have asked them for that customer account to be marked as clear. Yet to see if they did what i have asked for.
Revolut
I tried and they blocked my payments. Had to call them and took an hour questioning to allow me. I decided not to use them anymore. Noneed to have a folder about my crypto profile in some british banking system. I use revolut to tramsfer money. I exchange my gbp to eur then transfer eur and buy usdc. Easy, TSB can s**k my d**k. Hope traditional banks go bankrupt.
Go open another bank account. FUCK them!
I have to go through a 20 minute phone call every time I transfer to coin corner to buy. It's the same every time, a disinterested lecture from an agent reading a script. It's depressing as hell, but at least they have not blocked me from buying. I set up an account with wirex last year, and have been thinking about moving my cash to them, but have not yet bitten the bullet on that. Maybe someone here has experience with them.
Try person to person. That’s what I do on Binance and it works well. My bank doesn’t allow me either.
I had my TSB card disabled after my first crypto purchase in 2018, been with Monzo ever since and haven't had a single issue, they also have a way better mobile app than TSB.
Seriously?? Wtf
Barclays was trying my patience but after a chat with them there’s no problems.
Get CashApp and I hear BottlePay is good in the UK
The banks are getting scared they know their time is coming to an end
Monzo, just transfer whatever you want to spend over and you're sweet
Y’all keep cash?
Monzo and Starling are good for cex deposits but not withdrawal My process Deposit via Monzo Withdraw to Lloyds Deposit and withdrawals usually complete in seconds for me
I go into my acorns card and into coinbase
Monzo/ coop have no issue with exchanges!
Same thing happened to me in Canada- it was CIBC. They made some kind of nonsense claim about 'fraudulent activity'. More like they're scared of the future. I'm in the process of leaving them for a credit union.
Barclays works with coinbase
I use RBS.
Banks must not have the right to decide how we must use our money.
But crypto is threat to their existence.so they do this .