Post
Topic
Board Bitcoin Discussion
Re: BTC to FIAT
by
harizen
on 19/01/2018, 23:27:24 UTC
I hear from some people that when selling a large amount of Bitcoin and having that money hit their UK bank account,  the bank has froze their money or notified them they will close their account.

Other people say they had no issues and no one has said anything.

Have you have any problems and more importantly who gave you the best rates and was the least hassle to deal with.

Different people have different experiences.

Like here in my country, some of my friends who uses bank account as mode of withdrawals faced some issues with their banks but others are fine. So the conclusion here is, the amount involved triggered the alarm that's why it was being frozen. Central Banks here imposed a strict regulations over our local bitcoin exchangers . But on the other hand, it will be settled right away after some short interview. It varies per banks, it's just that there are banks here that strict towards cryptocurrency transfers (the sender on the bank withdrawal transaction will be the name of the exchanger that's why it was easily determined by the banks as crypto exchange).

In my case, I never did some bank withdrawals to avoid such problem because it's really a hassle one. There are lots of available withdrawals method here so I tend to choose them instead over banks transfers.