Bank AI

Read

/send

<div class="protos">
 <div>
  <div>
   <div> 
    <p>According to a customer email, <a rel="dofollow" title="Chase" href="https://thebittimes.com/tag/chase.html">Chase</a> Bank is set to stop <a rel="dofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>-related debit card payments and bank transfers for <a rel="dofollow" title="UK" href="https://thebittimes.com/tag/uk.html">UK</a> clients next month.</p> 
    <p>As reported by CoinDesk, Chase will become the latest in a long line of UK banks to impose such measures as financial institutions in the country seek an effective way to tackle the rising rates of crypto-related fraud. The new measures will reportedly come into effect on October 16.&nbsp;</p> 
    <p>In the email, Chase says, “If we think you’re making a payment related to crypto assets, we’ll decline it.” It went on to tell customers that they’re welcome to take their business elsewhere.</p> 
    <p>A spokesperson for Chase said, “<strong>We’ve seen an increase in the number of crypto scams targeting UK consumers</strong>, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto site from a Chase account,” (via CoinDesk).</p> 
    <p>Despite the Financial Conduct Authority (FCA) seeking to open a dialogue between banks and <a rel="dofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> firms (the regulator has specifically sought to address the issue of de<a rel="dofollow" title="Banking" href="https://thebittimes.com/tag/banking.html">Banking</a> in a recent report) finding a <a rel="dofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>-friendly bank in the <a rel="dofollow" title="UK" href="https://thebittimes.com/tag/uk.html">UK</a> is becoming progressively more difficult.</p> 
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper"> 
      <blockquote class="wp-embedded-content" data-secret="2TlIbieQzw">
       Nationwide joins banks in hampering UK crypto payments
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Nationwide joins banks in hampering UK crypto payments” — Protos" src="https://protos.com/nationwide-joins-banks-in-hampering-uk-crypto-payments/embed/#?secret=0d9z1lFdXj#?secret=2TlIbieQzw" data-secret="2TlIbieQzw" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> 
     </div>
    </figure> 
    <p><em>Read more: Nomo Bank latest in UK to block Binance payments</em></p> 
    <p>Indeed, the likes of <strong>Nationwide, HSBC, Santander, Barclays, and Natwest all blocked card payments to Binance</strong> following regulatory uncertainty towards the exchange.</p> 
    <p>In addition, Santander limited payments to crypto exchanges at £1,000 per transaction and £3,000 for every 30 days while online bank Starling banned all transactions towards crypto exchanges.</p> 
    <p><em>Quotes in bold are our emphasis. Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.</em></p> 
   </div>
  </div> 
 </div> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/chase-bank-tells-uk-crypto-users-to-take-their-business-elsewhere-tbt64092.html">https://thebittimes.com/chase-bank-tells-uk-crypto-users-to-take-their-business-elsewhere-tbt64092.html</a></p>

Chase Bank tells UK crypto users to take their business elsewhere

TheBitTimes

Other articles published on Sep 26, 2023

Bitcoin Insurer AnchorWatch Raises $3m in Funding for Expansion!

Cardano (ADA) Records Major Upshoot in This Crucial Metric

Chainlink Among Top Crypto Gainers as Price Pumps 7%, with TGC Token Also Bullish

Kraken expands European footprint with new virtual asset licenses in Ireland and Spain

Holders of Dogecoin (DOGE) & Uniswap (UNI) Shift to VC Spectra (SPCT) in Pursuit of Remarkable Re...

MoneyGram to launch non-custodial crypto wallets by Q1 2024

Join our free newsletter for daily crypto updates!