U.K.-based bank NatWest has joined other British banks, such as HSBC and NationWide, limiting payments to crypto exchanges.
The bank restricted the daily payments to £1,000 ($1,218) and monthly payments to £5,000 ($6,090).
NatWest made the move to further protect customers from crypto crimes, according to a statement.
- The bank said crypto-criminals caused consumers to lose £329M ($400M) last year.
- NatWest’s new restrictions concern debit card transactions and transfers made from customer accounts.
In February, HSBC, the U.K.’s largest bank, similarly restricted its customers from buying crypto assets using credit cards.
- British bank Nationwide also recently halted accepting customers to purchase cryptocurrencies with credit card payments to crypto exchanges and restricted the daily limit of debit-card purchases to $5,965 for crypto assets.
- Other British banking giants that put restrictions on crypto trading for U.K. customers include Banco Santander SA and Lloyds Banking Group Plc.
