Topic: Has your bank or credit card told you they will stop you buying crypto? - page 2. (Read 1165 times)
May 21, 2022, 08:10:13 AM
Absolutely not. I have been purchasing crypto for almost five years now and have never had any problems with them, and they treat my transactions like any other online purchase
May 20, 2022, 05:33:39 AM
I think it's down to the government policies in your country. Many governments are now doing their best to restrict the trade of cryptocurrency in their countries. In my country for instance, any cryptocurrency activity that leads to your bank account will get your funds frozen forever. As little as a transaction description (crypto-related comments) on day-to-day credit and debit will put you in the blackbook.
May 16, 2022, 02:01:02 PM
Hey, You can try p2p buy from cryptocurrency when possible your support crypto. I mean it's not good decision for scam crypto because world biggest rich man buy crypto.
May 07, 2022, 08:53:46 AM
In my country, they'd banned it, what exactly they did was, our government gave all bank directives to ban any individual transacting crypto, meaning that, where any individual that put any crypto related words in the narration, such account, both the recipient and sender will be permanently blocked.
Solution for us just to transact with mentioning any crypto related words in the narration
Solution for us just to transact with mentioning any crypto related words in the narration
May 05, 2022, 09:01:35 AM
I had this same problem start about a year and a half ago. I canceled that credit card and closed my accounts with that bank only to have the next bank refuse to process any crypto purchases through their credit card. Thankfully in Canada we can fund our exchanges through an email transfer. This is currently the only way other than wire transfer that I am able to purchase crypto. 
Not surprising at all to hear this experiences since many bank really don't want to get involve on any crypto transactions. I don't know what's the reason about this but I think same as you if I experience the same I will cut off that and move to another.
And good thing we have Western Union which is crypto friendly bank and for now we can transact by using it without intervention so far happening on my account. But let just see how if these continue and they will not follow other bank to do the same with them.
May 03, 2022, 08:07:55 PM
I had this same problem start about a year and a half ago. I canceled that credit card and closed my accounts with that bank only to have the next bank refuse to process any crypto purchases through their credit card. Thankfully in Canada we can fund our exchanges through an email transfer. This is currently the only way other than wire transfer that I am able to purchase crypto.
May 03, 2022, 02:07:13 PM
My bank doesn't say anything about crypto and still allows many of us to buy crypto. But because I don't use a credit card to buy crypto, I don't know if the bank has forbidden its users to buy bitcoin from their credit card. If the credit card forbids it, its users can use another way, namely by making direct transactions using ATMs to some local sellers who can help you buy bitcoin or other coins. Maybe you need to find another way that doesn't use your credit card, so the bank for the credit card doesn't know anything about your transactions.
May 03, 2022, 11:48:22 AM
I am incandescent with rage. A stupid credit card that I will now cancel put a notice in my account that they have decided that because there are so many cryptocurrency scams that they will not allow me to use the card to buy bitcoin or other crypto.
I joined the forum and found the thread where there were dozens of credit card holders that basically said the same thing. HOW DARE you decide what I can do with my money?!!!
How many other people have experienced this bullshit?
IMHO they are just driving nails into their own coffins.
The HUBRIS.
I thought I was the only one who was warned by my credit card salesman not to buy crypto with a credit card, because he forbade me so I also closed the credit card that I have been using for a long time. looks like they (banks and credit card providers) are fighting cryptocurrency adoption. I joined the forum and found the thread where there were dozens of credit card holders that basically said the same thing. HOW DARE you decide what I can do with my money?!!!
How many other people have experienced this bullshit?
IMHO they are just driving nails into their own coffins.
The HUBRIS.
April 21, 2022, 05:47:15 AM
Yes! Not directly but started getting all my transactions denied.
Had to switch bank lol
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Had to switch bank lol
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April 20, 2022, 05:37:35 PM
Not specifically with me. But I know of banks that are particularly annoying with the process of depositing to exchanges - those that come from exchange are less annoying - and some blocks in that sense. But with other financial services I've already had a strange feeling and a less 'acceptance' on the part of service providers for accounting processes for tax purposes and etc.
April 19, 2022, 06:38:26 PM
Do banks prohibit such transactions? I think such a scenario can only be in countries where cryptocurrencies are banned at the government level.
Actually yes some banks prohibit their users to do some transactions on cryptocurrency, I don't know why they implement this but I think they are just backing off on some illegal activities happening on cryptocurrency and also maybe they didn't go into this since government doesn't have any clear stand towards its legality that's why there are banks doing this actions.
Here some banks doesn't allow us to buy bitcoin but in Western Union they allow us to do this and they are a crypto friendly bank.
April 19, 2022, 09:21:52 AM
Do banks prohibit such transactions? I think such a scenario can only be in countries where cryptocurrencies are banned at the government level.
April 18, 2022, 07:20:21 PM
I feel sad for banks which adopt this kind of approach towards crypto. In what times are they still living? It's 2022 already, and those who don't adopt crypro or create obstacles to difficult the adoption by others are going to stay behind, without any doubts.
I've never experienced this, but I'm sure you will be able to find a crypto bank or app which features credit card for customers. There are so many of them right now, including some with cashback option, which is great for making purchases daily and receiving a small percentage of the money back. I'm sure you will be able to find something if you search for it carefully.
I've never experienced this, but I'm sure you will be able to find a crypto bank or app which features credit card for customers. There are so many of them right now, including some with cashback option, which is great for making purchases daily and receiving a small percentage of the money back. I'm sure you will be able to find something if you search for it carefully.
April 16, 2022, 12:19:15 PM
Do you have any limits on the card? For the fact itself is rather strange, I have not seen this.
April 15, 2022, 06:35:06 PM
I am very sorry to say that my country has not been able to accept bitcoin even after so many years but indirectly the people of my country use bitcoin. However, the central bank and its subsidiary banks have not been able to accept Bitcoin.
March 15, 2022, 09:36:04 AM
Strange, I think banks on the contrary see cryptocurrency as a competitor because many of them have no influence on bitcoin transactions and the various currency markets on the net. Governments in many countries understand that bitcoin is safe, but there is a tax-free profit opportunity behind it. And that's the only reason they don't like all the innovation in this area
Crypto is not a competitor, the bank also serves local fiat transactions which customers prefer to avoid high crypto tx fees. Based on today's reality, are any crypto users actually leaving the bank entirely? No, the bank will not lose its customers.Banks also don't care about crypto taxes. If they are going to be able to profit from customer transactions, they will embrace crypto for as long as regulation allows.
March 15, 2022, 06:56:51 AM
Strange, I think banks on the contrary see cryptocurrency as a competitor because many of them have no influence on bitcoin transactions and the various currency markets on the net. Governments in many countries understand that bitcoin is safe, but there is a tax-free profit opportunity behind it. And that's the only reason they don't like all the innovation in this area
They don't see it as competitor right now they just following what government implement to them and they maybe complying with the law. If crypto will just be legal on many parts of the country for sure banks will adopt it also since for sure they go with those industry which can create huge profit to them. And maybe some institution will create a crypto banks to adopt and earn some benefits with it.
December 19, 2021, 05:26:29 PM
Currently in my country the central bank of Nigeria have asked all banks to block any account that's linked to cryptocurrency which is very bad, I don't think anybody should tell me what I should do with my money and the funniest part is that they believe cryptocurrency is used for different illegal al activities, but I believe any illegal activities don by cryptocurrency can also be done making use of fiat currency so I don't think there is any concrete reason why they should ban cryptocurrency.
December 19, 2021, 02:19:24 PM
I think exchanging with individuals and not companies is the best option so far.
Use P2P also for security. One cannot really conclude what the banks think about crypto currency.
Just don't make them a direct link for your exchange.
Use P2P also for security. One cannot really conclude what the banks think about crypto currency.
Just don't make them a direct link for your exchange.
Haven't seen any of such things in my country. It depends upon in which country do you live and what are their rules and regulations.
Also as for the bank, I would suggest you to quit this credit card service and apply for any other service.
Also, try to search for any related regulatory order which allows the banks to block the credit card for such purchases.
If there isn't any such order is found then serve a legal notice to your bank, and sue them in the court of law.
November 01, 2021, 12:17:59 AM
my credit card provider not yet give any issue for cryptocurency purchase, however i never use it.
i only use cash for any cryptocurency purchase, since credit card and internet cyber crime increasingly worst.
Honestly I'm interested in cryptocurency purchase for short investment using a credit card
i only use cash for any cryptocurency purchase, since credit card and internet cyber crime increasingly worst.
Honestly I'm interested in cryptocurency purchase for short investment using a credit card
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