NatWest has blocked debit and credit card payments to cryptocurrency exchange Binance, following in the footsteps of some of its U.K. banking colleagues.
“All payments to Binance are currently prohibited,” a NatWest spokeswoman informed us. Following a warning from the Financial Conduct Authority in June that the exchange was operating in the nation without authorisation, NatWest has joined Santander and Barclays as major banks prohibiting U.K. customers from acquiring cryptocurrency on Binance.
In response to worries about investment scams and fraud, the bank previously set a daily restriction on how much individuals could spend on crypto exchanges. NatWest is barring outright payments to a small number of crypto firms that represent extremely high levels of risk, including Binance, as part of this policy, the bank said. Several customers reported receiving texts from NatWest telling them that all credit and debit card payments to Binance were being rejected till further notice on social media.