NatWest Blocks All Payments to Binance

NatWest Blocks All Payments to Binance

NatWest has followed some of its U.K. banking peers in blocking debit and credit card payments to cryptocurrency exchange Binance.

  • "It is the case that all payments to Binance are blocked," a NatWest spokesperson told CoinDesk.
  • NatWest joins Santander and Barclays among major banks preventing U.K. customers from purchasing crypto on Binance, following the warning from the Financial Conduct Authority in June that the exchange was operating in the country without permission.
  • The bank had previously limited the amount users could spend each day on crypto exchanges in response to concerns over investment scams and fraud.
  • In conjunction with this policy, NatWest is blocking outright payments to a small number of crypto firms that pose particularly significant levels of risk, Binance among them, the bank said.
  • A number of customers flagged on social media that they had received texts from NatWest informing them all credit and debit card payments to Binance were being declined until further notice.
  • Source