Re: Avoiding banking challenges (how do you buy crypto?)

I'm in the UK. Buying crypto isn't banned, however trading is. I

You are the owner of the money and I don't know why you have to bend to the bank policies since you are from the UK. Why do you change bank just as Welsh said cause I read that Barclay, Natwest, SCB, RBS, TSB supported crypto related payment.
You can also also open Revolut account if you don't want leave the bank though.

The ban was brought in via our FCA:

https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers

To be fair to my bank, I've not yet tried to move money to a broker or any other route that might suggest 'this customer is buying crypto' so I can't comment yet as to whether they would block my account. However I'd rather find legitimate ways to avoid even highlighting this to them.

Don't try it since FCA have placed the ban but you can still trade online and conduct crypto related transaction using peer to peer exchange, open Revolut account.or ask one of your bank official about it.

Quote from: Findingnemo on March 20, 2021, 05:34:56 AM

What he saying is that he haven't try to transfer any fund to cryptocurrency related site to be sure if they ban crypto related transaction but since FCA banned crypto investment or trading by retailer consumers which was effective on January this year, his bank will definitely ban every crypto related transactions.