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This is a good thing for crypto in the long run. The banks are being forced to take a stance and begin setting up a framework for crypto transactions. These policies and emails started the week the SEC announced the recent lawsuits against crypto, it’s all a disguise to make sure the common person has no amount of crypto that could help them escape the banking world one day. These banks know crypto is going to moon hard again and now make it harder to get access to. I don’t know anyone DCAing more than 10k a month so it’s not exactly changing my strategy but I know of people who who would prefer to lump sum and buy a Bitcoin in one go who won’t be able to. They have implemented several strategies to delay people’s accumulation this tells me we don’t have long to get as much as we can ASAP. (Months not years) CBA implemented delays on direct deposit, now you have to wait days for your money to clear whilst the price fluctuates and you miss your entries.. trust me this will catch a lot of people out when we rally. They outright removed POLI deposits which a lot of buyers relied on now for instant deposits. So your choice is wait 2 days or pay the card fee (instant 3% loss), funnelling people’s money so they get less crypto. This is nothing to do with protecting from scams, CBA has no obligation to return your funds unless your card details where stolen which is not a crypto issue but a much broader one and is insured for anyway..
I use CBA to deposit on Coinspot through POLI. Payment arrives instant even though CBA holds it for a day on their end. So if you want instant transfer use POLI.
My bank and 2 others on my AU exchange have “temporarily disabled” instant POLI payments. The rest will follow. For now instant payID deposits are safe but we will see
I can no longer deposit on my exchange via POLI but can still transfer through payID which is also an instant payment. I see another bank is also unavailable. Bank of Queensland possibly I wonder how long until they all stop POLI payments, and then move to stopping all transfers to exchanges for “consumer protection”