{"id":506333,"date":"2022-11-04T00:15:00","date_gmt":"2022-11-03T21:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/santander-uk-limits-crypto-transactions-for-its-customers\/"},"modified":"2022-11-04T00:15:00","modified_gmt":"2022-11-03T21:15:00","slug":"santander-uk-limits-crypto-transactions-for-its-customers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/santander-uk-limits-crypto-transactions-for-its-customers\/","title":{"rendered":"# Santander UK limits crypto transactions for its customers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2717bf8f9fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2717bf8f9fd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/santander-uk-limits-crypto-transactions-for-its-customers\/#%E2%80%9D_Santander_UK_limits_crypto_transactions_for_its_customers_%E2%80%9C\" >&#8221; Santander UK limits crypto transactions for its customers &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Santander_UK_limits_crypto_transactions_for_its_customers_%E2%80%9C\"><\/span>&#8221; Santander UK limits crypto transactions for its customers &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDQyZDVkOGItYjg2MS00NmY3LWJjMDgtMGU5OTIzZDYyNmNkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Multinational banking group Santander has placed a limit on all crypto transactions for its customers in the United Kingdom. The group cited\u00a0cryptocurrency fraud warnings from regulators as the reason behind its decision.\u00a0<\/p>\n<p>According to an\u00a0announcement\u00a0on Nov. 3, the bank <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.santander.co.uk\/personal\/support\/fraud-and-security\/cryptocurrency\">plans<\/a> to protect its customers from the risks associated with investing in crypto assets, sharing that \u201cmoney held in customers\u2019 crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.\u201d<\/p>\n<p>In an alleged effort to shield its customers from crypto-related risks, Santander UK said it believes that the best way to protect its clients is to limit the amount of money they can send to crypto exchanges, asserting that this is \u201cthe best way to make sure your money stays safe.\u201d<\/p>\n<p>The limit will be enforced starting Nov. 15, and customers will be restricted to a 1,000 British pound limit per transaction, and a total limit of 3,000 pounds a month. The bank added:<\/p>\n<blockquote><p>\u201cWe\u2019ll be making more changes to limit or prevent payments to crypto exchanges in the future, though we\u2019ll always let you know before we make these changes\u201d<\/p><\/blockquote>\n<p>Despite the newly imposed limits, customers will still be allowed to receive payments from cryptocurrency exchanges in their bank accounts.<\/p>\n<p><strong><em>Related:\u00a0<\/em><\/strong><strong><em>Santander\u2019s UK arm follows Barclays in banning payments to Binance<\/em><\/strong><\/p>\n<p>The announcement was met with criticism and raised eyebrows from members of Crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. Bitcoin (BTC) enthusiast, podcaster and author Layah Heilpern said, \u201cRemember, they only ban what threatens them. If this isn\u2019t your signal to buy I don\u2019t know what is\u2026\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">So literally nothing new. UK banks have been slowly blocking\/limiting crypto payments for over a year now, I live there, I have multiple banks here<\/p>\n<p>\u2014 Brand \u2692\ufe0f (@Brand99_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Brand99_\/status\/1588213169419427840?ref_src=twsrc%5Etfw\">November 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another user, Alesxius, shared: \u201cSince when do they have the authority to tell you what you can and can\u2019t do with your own money?\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Since when do they have the authority to tell you what you can and can\u2019t do with your own money?<\/p>\n<p>\u2014 Alesxius (@alesxius) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alesxius\/status\/1588220502144843778?ref_src=twsrc%5Etfw\">November 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In 2021, Cointelegraph reported that Santander\u2019s U.K. banks had followed in Barclays\u2019 footsteps in banning its customers from sending payments to Binance, citing warnings from the Financial Conduct Authority.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/santander-uk-limits-crypto-transactions-for-its-customers\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Santander UK limits crypto transactions for its customers &#8220; Multinational banking group Santander has placed a limit on all crypto transactions for its customers in the United Kingdom. The group cited\u00a0cryptocurrency fraud warnings from regulators as the reason behind its decision.\u00a0 According to an\u00a0announcement\u00a0on Nov. 3, the bank plans to protect its customers from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":506334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMDQyZDVkOGItYjg2MS00NmY3LWJjMDgtMGU5OTIzZDYyNmNkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,101886,74880,117,70934],"class_list":["post-506333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-santander","tag-transactions","tag-business","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506333"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506334"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}