Topic: BIG banks ban credit card purchases for BITCOIN - page 2. (Read 308 times)
well not all the big banks.There are equally good high profile institutions who also accepts bitcoins.Super powers are scared of wealth been decentralised.
guys, stop and read (apologies to those of you who have, but it's Worth reiterating)
None of these banks have banned buying cryptocurrency. At all. You can do what the hell you want with your money when using these banks. Keyword, YOUR money.
A credit card is a loan.
NOBODY with some soul and minimum fiscal responsability would ever let you take out a loan to buy cryptocurrency. that is irresponsible and all-in-all a terrible choice. If you DO want to buy crypto with borrowed money, then you will have to find someone with little enough scruples and high enough interest rates that won't mind giving you money to burn.
What these banks have done is _resposnible_, it is good. for them AND for the customers. Sure, they most likely did not do it out of the kindness of their heart, but because they have little ability to recupe eventual losses. still a good thing.
None of these banks have banned buying cryptocurrency. At all. You can do what the hell you want with your money when using these banks. Keyword, YOUR money.
A credit card is a loan.
NOBODY with some soul and minimum fiscal responsability would ever let you take out a loan to buy cryptocurrency. that is irresponsible and all-in-all a terrible choice. If you DO want to buy crypto with borrowed money, then you will have to find someone with little enough scruples and high enough interest rates that won't mind giving you money to burn.
What these banks have done is _resposnible_, it is good. for them AND for the customers. Sure, they most likely did not do it out of the kindness of their heart, but because they have little ability to recupe eventual losses. still a good thing.
My guess is they will eventually try and ban all purchases. I have problems trying to buy using my Barclays debit card now
If you think about it, it's pretty ridiculous how bank doing this.
What's the bank to tell me how I spend my money? good or bad, it's my decision to make.
It's like Bank ban purchasing alcohol and cigarette with credit card 'for your own good'
What's the bank to tell me how I spend my money? good or bad, it's my decision to make.
It's like Bank ban purchasing alcohol and cigarette with credit card 'for your own good'
It's not your money.Did you even read the text?
They are banning credit card purchases, not debit cards.
Credit card money are money the bank is (if) willing to lend you. In this case they decided not to do so.
The first shot in the war on bitcoin was just fired by the banks. The bullet ended up in LLoyds' foot.
If you think about it, it's pretty ridiculous how bank doing this.
What's the bank to tell me how I spend my money? good or bad, it's my decision to make.
It's like Bank ban purchasing alcohol and cigarette with credit card 'for your own good'
What's the bank to tell me how I spend my money? good or bad, it's my decision to make.
It's like Bank ban purchasing alcohol and cigarette with credit card 'for your own good'
It is clear that it is part of the war against bitcoin, but with this what is going to be achieved is that bitcoin comes out strengthened. 
Banks not letting people use the bank's money for money that will remove the power (and profitability) of banks?
Not surprising.
Not surprising.
Virgin Money has joined Lloyds Banking Group in banning customers from buying Bitcoin and other digital currencies with their credit cards.
Virgin Money's spokesperson said: "Following a review of our policies, I can confirm customers will no longer be able to use their Virgin Money credit card to purchase crypto-currencies."
Like Lloyds, Virgin's ban only applies to its credit cards, not debit cards.
The value of Bitcoin fell a further 10.86% to $7,297.65 on Monday.
Like Lloyds, Virgin Money is concerned about customers running up large debts following a sharp fall in the value of digital currencies.
Over the weekend, several of the biggest issuers of credit cards in the US also banned customers from using their cards to buy digital currency.
The list of financial firms included Bank of America, Citigroup, JP Morgan, Capital One and Discover.
Lloyds' ban, starting on Monday, applies to its eight million credit card customers across Lloyds Bank, Bank of Scotland, Halifax and MBNA.
Lloyds said it would not be contacting its customers either digitally or through the post to inform customers about the change to its credit card policy. Customers will only be informed should they query a blocked crypto-currency credit card transaction.
Virgin Money's spokesperson said: "Following a review of our policies, I can confirm customers will no longer be able to use their Virgin Money credit card to purchase crypto-currencies."
Like Lloyds, Virgin's ban only applies to its credit cards, not debit cards.
The value of Bitcoin fell a further 10.86% to $7,297.65 on Monday.
Like Lloyds, Virgin Money is concerned about customers running up large debts following a sharp fall in the value of digital currencies.
Over the weekend, several of the biggest issuers of credit cards in the US also banned customers from using their cards to buy digital currency.
The list of financial firms included Bank of America, Citigroup, JP Morgan, Capital One and Discover.
Lloyds' ban, starting on Monday, applies to its eight million credit card customers across Lloyds Bank, Bank of Scotland, Halifax and MBNA.
Lloyds said it would not be contacting its customers either digitally or through the post to inform customers about the change to its credit card policy. Customers will only be informed should they query a blocked crypto-currency credit card transaction.
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