No more than £3,000 worth of crypto or else this bank prohibits customers from using their money

Shame on Santander – Although banks have a very long denigrated bitcoin (BTC) and cryptos, more and more people are radically changing their minds. They now seem rather to want not especially not miss the opportunities of this revolution. But some bankers stuck to the arbitrary bans of cryptos, as we saw in 2017/2018.

Santander bans its customers from buying too much crypto

What’s more annoying than a bank that decides for its customers how they have the right to use their silver. Yet this is what the bank is about to do Santander United Kingdom.

In a recent statement, Santander informs UK residents that it will impose a limit to the purchases of crypto-assets by its customers! The bank invokes the Financial Conduct Authority or FCA, the equivalent of the Autorité des marchés financiers. The latter regularly warns consumers against “investment risks” in cryptocurrencies.

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No more than £1,000 per transaction…

For ” protect “ its customers and ensure that their “money stays safe” (not to move from the bank), Santander prohibited any transaction towards crypto exchanges beyond the amounts below:

  • No more of £1,000 per deal;
  • a total limit of £3,000 per sliding period of 30 days.

Great lord, Santander accepts on the other hand without problem receive as much money as possible from trading platforms to their accounts. Sorry, towards customer accounts, even if it’s a bit the same thing in the eyes of this bank obviously.

This arbitrary limitation will be implemented from the November 15 2022. As for users of Binanceany transfer to the platform is purely and simply prohibited by Santander. Here too, the bank is hiding behind FCA decision against the crypto exchange. This is to choose for its clients what they are allowed to do with their own money. The effect with crypto-enthusiasts will likely be the opposite of the desired one.

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