Nationwide (UK bank) restricts crypto payments

Not an outright ban, but max limits of £5000 daily with a debit card and no purchases with a credit card. Not going to effect a lot of people I guess as bank transfer is still open. But an interesting development.

Statement as follows:

The Financial Conduct Authority (FCA), who regulate the financial services industry, has highlighted certain risks associated with purchasing crypto currency.

With this in mind – and because we want to do everything we can to help keep members’ money safe – we’ll be making the following changes from 28 February:

We will be introducing limits on card payments made to crypto exchanges from a current account, and

We will not allow payments to crypto exchanges using a Nationwide credit card.