Comment on Any suggestions which banks are the least shit?
thedavemiester@aussie.zone 1 year ago
I’ve tried a lot. My two current faves are Macquarie and Up. Just realised I haven’t changed for ages so they must be good.
Yeah, seems like a blanket rule with Up. They said:
“Your account has been reviewed and unfortunately we are unable to allow you to proceed with payments to cryptocurrency exchanges. We apologise for the inconvenience, however the financial safety of our customers and community are our top priority.”
Up initially blocked my payment, but after reaching out to them, I encountered no problems with crypto exchanges. Is it possible that they only restrict new accounts?
It has been about 6 months since I’ve used crypto so it could also be a new rule.
morry040@kbin.social 1 year ago
Many of the Australian banks are starting to clamp down on crypto transactions due to scams and ransomware. Some of them won't allow transfers to "high risk" exchanges, whereas others are stopping them altogether.
https://www.bendigobank.com.au/media-centre/bendigo-bank-blocks-high-risk-crypto-payments-to-protect-customers/
https://www.commbank.com.au/support/security/cryptocurrency-payments.html
https://www.westpac.com.au/about-westpac/media/media-releases/2023/18-May/
https://news.nab.com.au/news/scam-strategy-update/