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Ha, that's a laugh given the first two UK banks with whom I dealt ( Santander and Ulster Bank ) refused to transfer my money, from my UK accounts, to Bitstamp's
by dingaling 11y ago
Ha, that's a laugh given the first two UK banks with whom I dealt ( Santander and Ulster Bank ) refused to transfer my money, from my UK accounts, to Bitstamp's account in Slovenia.
I even went down to the branches to try but the tellers could only say that it was a system-imposed block.
Credit to Halifax for not having blocked that account at the time. Certainly they took their pound of flesh in international 'transfer' fees, though...
- jackgavigan 11y agoThe banks are worried about being hit with multi-$m fines if they end up inadvertently facilitating money-laundering. The application of AML/KYC rules to digital currency exchanges should make them more willing to bank regulated exchanges.
- coob 11y agoCould you not have used Transferwise?
- Ended 11y agoTransferwise doesn't process transfers to bitcoin exchanges: https://transferwise.com/blog/2013-04/notice-to-bitcoin-users-april-2013/ https://transferwise.com/blog/2013-04/notice-to-bitcoin-user...
- dingaling 11y agoI signed-up for a Transferwise account for that purpose but as noted they also decline to facilitate anything to do with Bitcoin. They talk the talk about disrupting Big Banking but for many operations they're merely a veneer over the very banks they lambast.
- sjtgraham 11y agoMore or less all the UK banks are at various stages of involvement with blockchain technology. One use case I have seen openly discussed is cross-border, interbank settlement. A large part of the fees you talk about don't even stay in the bank. I forget exactly where they end up but e.g. IIRC both the fed and ECB charge fees for clearing.