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I am generally against crypto (although was 'for' it 10 years ago). But I wouldn't be happy if my bank did this unless they also put in place similar restrictio
by brvsft 3y ago
I am generally against crypto (although was 'for' it 10 years ago). But I wouldn't be happy if my bank did this unless they also put in place similar restrictions, presumably for 'my own good', on transferring money to online gambling apps. I see too many advertisements for online gambling that I'm quite disgusted by it.
The only justifiable rationale for blocking such transactions, IMO, is to try to help your customers from being scammed or, more broadly, putting themselves into a precarious financial situation. Hence why they should have similar blocks on gambling.
But really, where I transfer my money is not the bank's business, and they often offer their own products that would allow people to put themselves into a bad financial position, e.g., trading on margin. So it comes off less as 'this is for your own good' and more as 'we will not allow you to engage in what we see as our competition.'