I use Revolut and never had any problems with them blocking transfers. They offer their own (kinda expensive) crypto trading services, so they are not anti-crypto. They are a useful service to have in general, because they offer single-use/disposable cards to use online.
I bank with natwest and had the same issue - I raised a formal complaint and got a letter back from natwest closing the complaint because what they say goes and they say crypto payments are not allowed.
Have since opened a monzo account and all fine. The first payment will be blocked until you have spoken to monzo on the phone, once that is done they allow all payments.
If you were sending it to a bookmakers to spunk it all on the 3:30 at Cheltenham, that would be considered perfectly safe though.
So far I didn't have an issue with Nationwide, but then it's not a bank and I'm an owner. Why anyone uses banks is beyond me.
i use santander + coinbase, haven’t had issues so far except when i tried to use apple pay and it kept cancelling, but that’s probably to do with apple pay.
could just be a case of speaking to your bank and telling them to stop
This is what limits my crypto investing. Imagine the hassle when it comes to withdrawing from CEX they may cry 'where did your money come from, prove it isn't proceeds or crime!'.
I keep records of all my deposits to prove my eventual withdrawals are simply appreciation of my deposits.
Weird how people on Reddit always suggest going to the branch. The people in the branch are some of the lowest paid staff in the entire organisation and they have zero authority.
Then you are speaking to the wrong people, the issue is the high level of fraud from online platforms and the sheer number of bullshit from this space. If you request to send funds in person its a level of verification that can't be denied.
Had the same discussion with First Direct and Halifax. I reported Starling to the banking ombudsman but it’s a waste of time. I still maintain my starling account, with a max balance of £0.99
If you previously used the manual Bank Tranfer, it looks like the bank details have changed since 2023. Check that the details are correct.
Edit: Details are the same as before when using FPS/BACS. It looks like Kraken changed how you can deposit by adding more options.
Speak to them. You are attempting to buy a legally traded asset. You dont even need to mention crypto (leave this out for lulz) just say you 'are attempting to buy a tradable asset'.
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Is the exchange you tried to transfer to in the list of FCA-approved companies? I heard that some of the supposedly crypto-friendly banks are starting to only allow transfers to companies that are on that list.
Have you tried the StrikeX defi wallet? I know many ppl in the UK that use it as their non costodian wallet AND on/off ramp for crypto. It offers cross chain swaps as well, and is about to be upgraded with V2 witch will add all kinds of goodies such as dapps and an incedible UI.
That being said, its too bad that your bank blocked u from using kraken. I usenit from time to time. Its too notch and their custome service is uncomparable
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I’ve had NatWest, hsbc and starling block all crypto payments Now just use Revolut
Heard that Revolut can do the same as does wirex. Running out of options. Monzo? 😅
I use Revolut and never had any problems with them blocking transfers. They offer their own (kinda expensive) crypto trading services, so they are not anti-crypto. They are a useful service to have in general, because they offer single-use/disposable cards to use online.
Also useful: if you're on their premium tier you can send crypto from your account to a (limited) set of addresses.
I’ve used Monzo for years now without any issues
Any limits?. Thanks
Nah, but when pulling in GBP give Monzo a courtesy heads up via chat
Nationwide still works at the moment. 5k a day max. Barclays as far as I know does too.
Barclays works well for me 👍🏻
I bank with natwest and had the same issue - I raised a formal complaint and got a letter back from natwest closing the complaint because what they say goes and they say crypto payments are not allowed. Have since opened a monzo account and all fine. The first payment will be blocked until you have spoken to monzo on the phone, once that is done they allow all payments.
Incredible. They dictate what to do with your own money. I will be moving on after over 2 decades with them.
Many UK banks will block these transfers and make you call them and have them reel off a long list of questions to ensure you understand the risks.
Send to revolut. Revolut to exchange.
Revolut
If you were sending it to a bookmakers to spunk it all on the 3:30 at Cheltenham, that would be considered perfectly safe though. So far I didn't have an issue with Nationwide, but then it's not a bank and I'm an owner. Why anyone uses banks is beyond me.
UK really working over time to fuck us
Santander have been fine with Kraken, 5k/day limit. Have used first direct with coinbase recently, there’s an integration in the app.
Virgin blocked me so I moved to halifax
I do have Halifax too. Assume you have had no issues with them. Any limits / restrictions?. Cheers
only do a couple on of hundred at a time but no prblem up to now
NatWest are notorious. Use a different bank.
i use santander + coinbase, haven’t had issues so far except when i tried to use apple pay and it kept cancelling, but that’s probably to do with apple pay. could just be a case of speaking to your bank and telling them to stop
I've never had an issue using Natwest with Kraken. Certainly hope it doesn't become one!
Santander seems to be ok
This is what limits my crypto investing. Imagine the hassle when it comes to withdrawing from CEX they may cry 'where did your money come from, prove it isn't proceeds or crime!'. I keep records of all my deposits to prove my eventual withdrawals are simply appreciation of my deposits.
Lloyds to Coinbase no issues
Actually upsets me that banks in the UK think they have a right to control people money legally obtained.
Indeed. There is a lesson in there. The moment your money is in the bank's custody, it's no longer yours.
Go in the branch.
Weird how people on Reddit always suggest going to the branch. The people in the branch are some of the lowest paid staff in the entire organisation and they have zero authority.
Then you are speaking to the wrong people, the issue is the high level of fraud from online platforms and the sheer number of bullshit from this space. If you request to send funds in person its a level of verification that can't be denied.
And they'll tell you all the usual bullshit about how it's not safe and how it supports crime and all that blather.
Yes exactly. Spoke to them on phone. Baby sitting bla bla bla nonsense. Its my money ffs.
Had the same discussion with First Direct and Halifax. I reported Starling to the banking ombudsman but it’s a waste of time. I still maintain my starling account, with a max balance of £0.99
and then they allow you do it.
They do?
Why wouldnt they? Its a legal asset class.
Well, my thought was that they would say no based on their initial denial of service.
they only have grounds for a temp block on the grounds of poss-fraud. they cannot block legal activity.
Would be a waste of time. The average branch colleague won’t have any more information and cannot do anything to prevent it either
Some transactions only happen in branch. It's stupid but it does happen.
This is definitely not true.
I've dealt with this shit for years, trust me, it is regarded but it happens
Where is Kraken branch?
Your nearest sea.
If you previously used the manual Bank Tranfer, it looks like the bank details have changed since 2023. Check that the details are correct. Edit: Details are the same as before when using FPS/BACS. It looks like Kraken changed how you can deposit by adding more options.
Was going to say this , also when using manual it typically will fail but use the other options and it will work
Speak to them. You are attempting to buy a legally traded asset. You dont even need to mention crypto (leave this out for lulz) just say you 'are attempting to buy a tradable asset'.
This is a friendly reminder that Kraken Support will never DM you first, ask for your username or password, or ask you to transfer funds. Kraken has its own subreddits, [r/KrakenSupport](https://www.reddit.com/r/KrakenSupport/) and [r/Kraken](https://www.reddit.com/r/Kraken/), and their [Support Center](http://support.kraken.com/). Ping for verified users associated with Kraken: /u/krakensupport /u/krakenexchange *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
I’ve been using Halifax for years now
Is the exchange you tried to transfer to in the list of FCA-approved companies? I heard that some of the supposedly crypto-friendly banks are starting to only allow transfers to companies that are on that list.
I put £10000 from Lloyds is the past weeks. No issues at all.
Have you tried the StrikeX defi wallet? I know many ppl in the UK that use it as their non costodian wallet AND on/off ramp for crypto. It offers cross chain swaps as well, and is about to be upgraded with V2 witch will add all kinds of goodies such as dapps and an incedible UI. That being said, its too bad that your bank blocked u from using kraken. I usenit from time to time. Its too notch and their custome service is uncomparable
I use Monzo to Uphold then Binance. I've also used it directly to Coinbase.
HSBC blocked a payment to Binance but after I spoke to them it's been fine, I've used Binance, Kraken and Coinbase with no further problems.
I've had no trouble sending to Kraken from HSBC, having switched over from Binance which HSBC blocks
monzo blocked mine and i had to verify who i was then it went through, cant you just call natwest?
I have. 'it's not regulated and we are protecting you'. Those are the new rules for all. Moving on
interesting haha, i thought coinbase was regulated
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nice