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I just called my bank to query why they’ve declined a crypto transaction when i'm well within my advised limit (UK)
Which UK Banks have ZERO crypto restrictions? List Is Here
UK Bank Starling Blocks Payments to Crypto Platforms — Claims Crypto Is High Risk, Heavily Used for Criminal Purposes
Rainbow Kishu($RBS) – New Meme Coin for 2022 Arriving Soon ! | 7% $BUSD Reflections ! | Fair Launch In 10 Minutes! ! | Active Community !
Rainbow Kishu($RBS) – New Meme Coin for 2022 Arriving Soon ! | 7% $BUSD Reflections ! | Fair Launch Soon! ! | Active Community !
Aventus Network (AVT) a Layer 2 solution, ahead of its time!
Five major banks including Barclays and HSBC fined £292 million for colluding to coordinate trading strategies. If banks does it, whales in crypto does this too. They will try everything to make you sell. Its your job to look past the obvious and make informed decisions.
Barclays, RBS, HSBC, Credit Suisse and UBS fined for taking part in forex trading cartel
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Yeah, it's part of a whole group of the worst banks. Natwest, RBS, Ulster.
For those not aware, NatWest is a rebrand of one of the banks (RBS) bailed out by the UK government back in the financial crash. This was one of the banks that was referenced in the news article Satoshi embedded in the Bitcoin white paper. It's a bank that's been involved in many scandals thoughtout the years of which debanking customers unfairly seems to be it's latest scandal. All these years after the financial crash it's still propped up by the UK taxpayer whom still own 40% of the bank. It's a story and a bank that definitively embodies the fight for an alternative form of decentralized finance.
OP. Had a business bank with RBS/NatWest and they did the exact same. No warning. 2 weeks of no contact. Wouldn’t tell me why it was frozen and the magically got access back. 2 months later told us they were closing the account. Scum of the fucking earth.
I’m with RBS and they have just updated their terms and conditions noting account funds can be held or frozen if they suspect fraud - cryptocurrency purchases It’s a broad restriction on any crypto purchases. I have had this issue with RBS for years - they also own NatWest
RBS (and those in that group) "To help keep your money safe from possible scams, we're going to set limits on payments we identify as going to cryptocurrency exchanges. From 16th March, we'll limit Faster Payments made to these exchanges to £1k a day (£5k in any 30-day period). Find out more at https://www.supportcentre-rbs.co.uk/payments-cryptocurrency"
Most banks require you to order cash over £2k and have done for well over a decade. And the reason they are getting all big brother on you is due to the FCA putting banks on the hook when thier customers get scammed. Natwest is hardly a failing bank, it's was formerly RBS and is partly owned by the UK government. Not to mention they have assets of over 800b.
What if we made that happen here and now. What if we closed our bank accounts and bought Bitcoin, the ensuing rally would float all if crypto. It would show centralized finance all over the world be in DB, Chase, RBS, UBS, HFDC that we are mad as hell and not going to take it any longer.
I read 📚 all your opinions and generally agree and see a world view. That said, the US SEC 's end game is to try to destroy all crypto sans ETH and BTC by burying them in legal cost to they reach a settlement to cease and desist.They are doing this because Defi is a threat to Centralized finance who are pulling the strings. I know Chase and BOA are US entities. Also, on a worldview, don't you think RBS,UBS,Barclay's, Deutche, et al. won't follow suit for the same reason.
I've been using Swissborg and RBS for a couple years now and never had any issues cashing in or out.
Went to deposit some GBP to my SwissBorg account but they have changed the method of fast payments. I can’t get RBS to verify them as an account
Peoples counter points makes little sense. Speed - depending on the coin they say. Well same can be said about banks. I mean transferring money from my HSBC to my RBS account is instant. Transferring money using a app to a Sri lankan bank account from UK cost £1.99, confirmed within 30 seconds. All while being completely protected. 3rd party : Banks. No Good. They say. Well we just replacing these banks with Dapps and god knows who as a 3rd parties and that's completely ok....
RBS blocked me from using Binance about 2 years ago
RBS stopped Binance a long time ago but still do coinbase at the moment
RBS and Revolut are still ok I have swapped / closed bank accounts for this very reason.
RBS have been notoriously iffy with crypto for a while now.
Get a Revolut account my man. Use your RBS as day to day and Revolut to purchase crypto. Don’t buy crypto in the Revolut app though as their buy and sell fees are high and you don’t technically have a wallet.
Iv tried to DCA in a few times however it has always been blocked , no idea why . I can buy fine . RBS .
NatWest and RBS are part of the same banking group, so may not be eligible for switching.
RBS never needed any protection from themselves in 2008
NatWest who own RBS sent the same out too.
Great Britain cracking down hard against crypto Few days ago it was RBS limiting crypto deposits to just 5k a month, now all fiat services have been banned from Binance So much for GB being a ‘financial innovation’ hub ..
Thought this was another US bank but RBS (U.K.) seem to be moving mad rn but 1-5k a day is better than limits other banks have set and more than the average person is moving to an exchange anyway. Note: It’s also peculiar how this limit popped up only a few days after Coinbase was in the news for forcing through 5-figure failed transaction that ultimately led to phished users being robbed 🤔
Santander already do this in the UK, but their limit is much lower, £1200/month or there abouts. I have a RBS account and a Santander account. I started using RBS to transfer money to my Crypto Exchange after the Santander announcement, but now that RBS have followed suit I'll just use both. I'll start with making payments from RBS and if I ever max that out I'll transfer money to Santander and use them to transfer another £1200. To be fair being limited to £6200/month split between two banks is more than enough for my own personal circumstances. But I do not agree with banks doing this, it's like they are fighting back against crypto and digging their heels in. I am under no illusion that these changes are not to protect their customers, but to protect the banks themselves.
Would be good to reach out to RBS asking whether there is also a 1k limit on transferring money to Credit Suisse bank?
RBS and NatWest are the same bank. They just have 2 brands now, one for use in England，Ireland，which is NatWest. But for scotland they kept the RBS branding. Exact same phone apps too, but branded differently.
Someone posted the same message for RBS. Is it the same bank, or are these UK-wide restrictions?
If I were there, and banking with RBS, i would be switching banks, and letting them know that the specific reason for leaving was this crypto restriction stuff. Money talks; they'll only take notice when people vote with their feet / accounts / wallets
It's probably because RBS/NatWest have been giving poor intrerest on saving accounts for so long they don't actually have enough float as everyone moved their fiat to other banks giving more interest anyway
Ah, the joys of modern banking. You can trust RBS to keep your finances secure.
Incorrect. The recently announced NatWest/RBS restrictions are for transfers to exchanges.
Yeah. That was in the news yesterday. Both RBS and NatWest are “protecting their customers” from crypto scams. I’ll use the knowledge I have about Crypto and protecting myself from scams thanks. I don’t need a bank to hold my hand. It’s interesting that lives are ruined with gambling addictions regularly yet the banks don’t “protect their customers” who use gambling organisations by limiting the amount of cash they can send them per month. 🙄
NatWest Group own and run NatWest, RBS & Ulster Bank. So NatWest is setting the rule across all its retail banking operations it seems. This will prob start happening with the other banks now. If other banks start heavily clamping down, it would be worth checking out who they own as the I'm sure the rules changes will trickle down
Monzo = crypto friendly Just got the same SMS msg as OP from my bank (not RBS)
RBS are famous for being strong and stable. Just look at 2009 for proof
RBS is a brand owned by NatWest. You can expect all their brands to have the same policy position.
Its because people are getting scammed into buying rugpull shitcoins, they then complain on social media, TV, Financial Ombudsmen like its RBS's fault.. RBS has to refund these dumbasses out of their own pocket otherwise they're the bad guy
It’s not just RBS - NatWest does the same. It is funny because as you mentioned they don’t care if you empty your bank account at the casino. There are alternatives though if it gets annoying, such as Revolut.
A reminder that when he was a hedge fund boss Sunak contributed to the 2008 crash when he joined others in a hostile raid on a Dutch bank which resulted in its sale to RBS. The deal loaded RBS with crippling debt and led to us having to bail it out to the tune of £45b
They have been building in the bear market and still have a big treasury. The most interesting thing they have released is RBS.
Yeah, they had crazy apy and people aped into it and it shot up in price like crazy and then it crashed in price. Now the project still has a good sized treasury and they have RBS implemented to dampen volatility and the apy is now only 7.3%. Currently they have more money in the treasury than the market cap of the coin and are buying coins back and burning them with RBS.
Do you mean "Royal Bank of Scotland" or "RBS"? That is a branch bank all over the world.
UK banks are shit when it comes to buying crypto. Most don’t allow transfers to crypto exchanges. Santander has put a cap of 3k per month transfer to exchanges. I think RBS and Lloyds still allows for now. There is monzo which is similar to Revolut aswell
I hate banks as much as the next guy however when we were in the EU (UK based) savings up to a certain amount were safeguarded by the government. I appreciate that other countries might have specific differences for this but they were changed after the RBS debacle that was the start of the last big crash!
RBS no issues for me. TSB seems to be working as well for binance deposits.
RBS Prevents it too. I can buy enough paracetamol to kill myself but can't buy btc. This is stupid
All bank's accounts are protected by the FSCS but the fact is the govt stepped in and bailed RBS and Lloyds and NO ONE LOST MONEY. So cut the bs about people losing money or the risk to the public having your money in a big bank. Govt will ALWAYS bail out a bank or company if millions of customers are at risk just like they have bailed energy companies i.e Bulb. I won't spell out for you why do this. I will let you work it out yourself! But hey wake me up when the govt steps in for Crypto lol
https://www.bankofengland.co.uk/prudential-regulation/authorisations/financial-services-compensation-scheme#:~:text=Customer%20deposits%20held%20by%20banks,FSCS%20up%20to%20%C2%A385%2C000. “Customer deposits held by banks, building societies and credit unions (including in Northern Ireland) in UK establishments that are authorised by the PRA are protected by the FSCS up to £85,000” So what is BS, bud? The government CHOSE to bail out RBS in a “too big to fail” move. This isn’t guaranteed at all.
False and bs! People who lost millions in RBS were covered. The GOVT took over the bank. Stop posting bs!
I think RBS and Ulster Bank are both owned by NatWest or NatWest Group, so would be logical that if there's no issues with one then the others should be fine too.
Don't know if this follows suit for RBS, but they own Ulster Bank, use the same logo etc, I have had zero issues
Well congratulations, what do you want, a medal? Natwest, Barclays, RBS and many others are blocking deposits. To be able to deposit to Binance I have to go NatWest > Revolut > Binance and the same in reverse to withdraw. There are many people talking about it over on r/UKPersonalFinance if you want to go take a look. I'm not sure what the point was of your comment other than to make it look like I'm wrong or making it up, I'm not. Do some research.
Had Natwest and RBS, both blocked all crypto-related transactions and even managed to froze my funds. I would suggest using Revolut/TransferWise/Monzo.
From experience, I know that Santander and RBS block payments/transfers to CDC. It works sometimes but not always, and if you do it too much they'll block you completely. I just transfer into Starling now and have no issues from there
Never had an issue with my bank (RBS) moving money in and out of exchanges. Think the journalist in this piece needs to go back to the drawing board.
My bank (RBS) blocked me from using Binance but are okay with CDC and Kraken
Time for a spot ETF on “really big signs” / $RBS
RBS. And they've confirmed they won't sell BTC.
TLDR: \-Interchange fees (the fees Visa and MasterCard charge retailers for accepting card payment) have been capped by the EU who claim it will encourage competition and help business. \-Visa and MasterCard claim this will increase their costs which will be passed onto cardholders either as higher fees or reduced rewards. \-Capital One are cutting their credit card cashback scheme, citing the new fee caps as the reason why. \-RBS and Natwest are cutting their credit card rewards scheme, but are maintaining cashback. Several cards still offer cashback, but these tend to charge annual fees or only be available to cardholders who also have a current account with the bank.
Are you doing bank transfers to Binance? If so, which bank? I'm with RBS and they've blocked Binance yet again
A reasonable provision of Liquid Assets to play with is more Important than ever. I remember the last financial crash, RBS’CEO made the fatal error of over stretching the banks capital, reinvesting riskily to fund new international acquisitions. When the crash came, RBS were shorn of almost all their business cash flow and subsequently had 6 hours to muster a bail out to prevent the bank going to the wall. Everything’s volatile at present whether its bitcoin / crypto or conventional currency. The big crash is approaching but it’s difficult to put a time frame on it. By the end of the year I feel is a fair assessment.
It didn't take long for the UK banking sector to stock their oar in again - RBS just blocked a £200 Bank transfer to Binance. They text to tell me and their link brings you to this page. Gee. Thanks
This new play to earn "Pikaster" has no less than three tokens, "MILS" the regular game token, and now "Rare Ball Shares (RBS)" BUT also "Super Rare Ball Shares (SRBS)". What the fuck, and also why? I don't see this being a very positive feature of this game or any future play to earn game to have so many tokens trading for it speculatively.
My bank (RBS) blocks crypto payments too but doesn't object when buying crypto on coinbase.
Gemini was actually the first exchange I ever used, but my bank (RBS in the UK) stopped allowing me to deposit to it which is when I moved to coinbase. But after realising I wasn’t earning any interest (unless I locked up my ETH for a year) I decided to research other options since my plan is to hold for the long term
It wouldn't have settled instantly....ie the banks "trust" each other to transfer the funds.....what happens when the sender bank is having difficulties a la RBS debacle
RBS, Co-Op and Solaris are worth looking at
RBS block Gemini. Though they don't block Coinbase or Kraken. If you prefer Gemini, Nationwide allowed withdrawals to Gemini. Also, RBS are fine with Nexo.
I’ve been with the bank for 18 years. Obviously RBS have different policy to Halifax despite you saying they are in cahoots. Anyway, thanks for your comments but I’m looking more specifically for anyone who can answer my actual questions regarding a different exchange, using my bank. Obviously I’ll call them eventually but I thought this sub was a good place to start.
Halifax and RBS are the same thing. RBS owes them.
Ok, I can’t speak for Halifax but I’ve read all the FAQ’s on this with RBS and it looks like I certainly lay can not deposit to Gemini, even if I complain.
I will go through it, but as far as I’m concerned it works and UK is still as semi free country that allows you to do with your asset as you please. They cover their asses and you have to go through a disclaimer (that o did), so you can’t try to claim the money back from them if you gave it to fraudsters (people actually did that). After this done you can just do it, but this I had to do only with Halifax (but it is part of RBS).
There is a whole page regarding it on RBS website, it’s for everyone not just my specific transaction.
No it doesn’t, not for me anyway same as Halifax and Natwest both RBS.
Sorry, the title may be slightly misleading but certainly RBS is blocking it
tldr; The European Commission has fined five banks for participating in an illegal foreign exchange trading cartel. UBS, Barclays, RBS, HSBC and Credit Suisse were fined a combined total of 344 million euros ($390 million), the commission said in a statement on Thursday. The investigation focused on the trading of G-10 currencies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
RBS blocked payments to coinbase for me. I no longer use them!
Moved to Monzo from RBS because they blocked crypto payments, fools.
Here is a story about that same *Andrew Bailey* lying and screwing people over. **Bank governor under fire for role in RBS scandal** https://www.bbc.com/news/business-56395534 >"On Andrew Bailey's watch, the FCA repeatedly avoided the opportunities to publish key evidence about the GRG scandal and failed to hold anyone to account," he said. >"That Bailey failed to declare his interest and involvement in the agency when it featured in the FCA report as a potential cause of the scandal or to [MPs] when questioned about it is extremely disturbing."
You can do £2000 at once via your card? What bank is that? Mine (RBS) blocks anything over £100
It depends on the bank first of all. /u/BitcoinUK is good for that. I use RBS and Kraken. Send through wire transfer and it goes through in... 20 minutes? And RBS have never blocked the transaction either.
Curating a list myself, and it ain't happy reading. RBS, NatWest, HSBC, Barclays, all have one issue or another. Some of those accept payments to Coinbase, but I know that several don't allow payments to Gemini
You cant with Natwest and RBS is owned by them?
RBS definitely don't, they stopped binance pay-ins a while back, as well as a few other exchanges I believe. Even Monzo has issues with it. The way I've gone about it is to set up a Revolut account, send money to it, then use that to buy crypto on whatever exchange I'm using.
RBS works well for me. No problems with deposits to Coinbase or Kraken. Their internet banking and App are very convenient.