NatWest (UK) refuses to let me buy cryptocurrency. Binance and Coinbase deposits are blocked. The transactions were reversed. They appeared to go out and then showed as deposits when I tried a bank transfer. There’s also a transaction approval mechanism in the mobile banking application, for card transactions, but approving just fails when transferring to these exchanges.
NatWest support say that there is a black list of worst offending, scam associated, exchanges and they block payments “for my protection”. They would not give me the list. They advised me to use an “alternative payment method”. So, like, get another bank account basically. To me this seems like a terrible business decision but then again, maybe this is not just NatWest?
Before I waste more time on this, like I did trying to go through all the “know your customer” (KYC) nonsense on coin base, maybe I can get some advice here?
Which banks, operating in the UK, can be trusted not to screw with my options? I told them that if I want to buy magic beans, that’s my choice. It’s not like they refund you if you do dumb stuff anyhow. I’m very puzzled by these limitations. I don’t want to open another bank account only to find this is a common limitation.
I used to be able to deposit into Binance no problem but then there were annoying daily transaction limits even then.
Edit: someone kindly linked this article that lists which are crypto friendly…
https://thefintechtimes.com/47-of-uk-banks-dont-allow-customers-to-interact-with-crypto-exchanges/
submitted by /u/aim456
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