Which UK bank account to use? | Bitcointalksearch.org

CryptoScotland

member

Activity: 94

Merit: 10

Crypto Scotland Investor Digital Currency

Quote from: bitcoinmaniac52 on August 29, 2017, 09:50:19 PM

I wouldn't suggest using any bank if you can avoid it. They tend not to like Bitcoin transactions at the moment. My bank just stopped my ability to withdraw today. Shocked

Who was it I used a Digital Bank called Tide and lasted 5 weeks. Not used any high street bank for selling as read it's too risky

CryptoScotland

member

Activity: 94

Merit: 10

Crypto Scotland Investor Digital Currency

Quote from: rjclarke2000 on June 05, 2017, 03:49:18 PM

Looking to trade bitcoins and with the high amount of transactions through the bank i intend to do I have no clue who to open an account with.

The things I know so far...

Lloyds
Santander
Barclays

Do not like bitcoin.

- a business account in needed.

- fidor uk is a good bank to use but the fast transactions don't exist. If they do I don't think it does for sending money to a different bank i.e. Fidor to lloyds and vice versa.

I don't get it. It'll be a business account with no illegal activity and I'll pay taxes etc. Nothing dodgy going on.

My question is, who here is in the UK using local bitcoins or similar and trades bitcoins? Can a bank account be recommended?

Thanks.

I hope this post is in the right section of bitcointalk. Sorry to admin if it isn't.

Have you found anything yet as I have contacted various banks and all said No. Was Using Tide Business Account and lasted 5 weeks only and closed down.

Spoke to a big trader he wanted £10,000 for any inside tips/ There must be a way but were missing it somehow I guess.

bitcoinmaniac52

sr. member

Activity: 532

Merit: 250

Presale is live!

I wouldn't suggest using any bank if you can avoid it. They tend not to like Bitcoin transactions at the moment. My bank just stopped my ability to withdraw today. Shocked

LolaKing

newbie

Activity: 1

Merit: 0

Gentlemand is right. most banks do not want to touch BTC with a barge pole, why would they? Apart from when they are prop trading of course. I hear they are involved in a few alt coins. big traders on local bitcoin do have a way and that is doing lots of cash transactions and opening lots of accounts, till they all options are exhausted. My brother is a trader and knows quite a few and this is what they have being doing.

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Quote from: gentlemand on June 08, 2017, 08:12:31 AM

Quote from: KingdomHearts on June 08, 2017, 06:26:02 AM

If you are in the United Kingdom you can use any bank as they all follow the same norms.

No you can't. They'll shut you down. Business with them is down to their own discretion and they don't want anything to do with BTC. That's why there are no proper exchanges.

No UK Bitcoin business has ever managed to maintain a bank account, so the best option would be to wait for Fidor, but perhaps they'll never manage it precisely because they're Bitcoin friendly.

Perhaps you should ask the high ranking Localbitcoins traders. They must be managing something, though I've no idea what.

Another option is to have a trawl through here - https://www.reddit.com/r/BitcoinUK/ as this pops up often. If I remember rightly Nationwide was regularly mentioned as not being too bad. It could've changed though.

https://bitcointalk.org/index.php?topic=264679.220 this thread too.

Thanks gentlemand. Good info as always.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: KingdomHearts on June 08, 2017, 06:26:02 AM

If you are in the United Kingdom you can use any bank as they all follow the same norms.

No you can't. They'll shut you down. Business with them is down to their own discretion and they don't want anything to do with BTC. That's why there are no proper exchanges.

No UK Bitcoin business has ever managed to maintain a bank account, so the best option would be to wait for Fidor, but perhaps they'll never manage it precisely because they're Bitcoin friendly.

Perhaps you should ask the high ranking Localbitcoins traders. They must be managing something, though I've no idea what.

Another option is to have a trawl through here - https://www.reddit.com/r/BitcoinUK/ as this pops up often. If I remember rightly Nationwide was regularly mentioned as not being too bad. It could've changed though.

https://bitcointalk.org/index.php?topic=264679.220 this thread too.

KingdomHearts

hero member

Activity: 896

Merit: 514

If you are in the United Kingdom you can use any bank as they all follow the same norms. Be conversed with the European Union VAT applicable for your transactions though. If you are not from the UK but would like to use any virtual account if any bank provides, please go through the trans border charges first and decide whether it will be profitable at all.

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Looking to trade bitcoins and with the high amount of transactions through the bank i intend to do I have no clue who to open an account with.

The things I know so far...

Lloyds
Santander
Barclays

Do not like bitcoin.

- a business account in needed.

- fidor uk is a good bank to use but the fast transactions don't exist. If they do I don't think it does for sending money to a different bank i.e. Fidor to lloyds and vice versa.

I don't get it. It'll be a business account with no illegal activity and I'll pay taxes etc. Nothing dodgy going on.

My question is, who here is in the UK using local bitcoins or similar and trades bitcoins? Can a bank account be recommended?

Thanks.

I hope this post is in the right section of bitcointalk. Sorry to admin if it isn't.

Topic: Which UK bank account to use? (Read 720 times)