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Jan. 10, 2022

Banking group UniCredit's policy has banned its customers from transacting with crypto exchanges and services, a spokesperson for the organization has said on Twitter in response to claims from an Italian user.

The bank customer posted a screenshot of correspondence with UniCredit Group's support team informing him that he cannot transfer money to FTX or Crypto.com. In response, the support representative advised him not to attempt these transactions, as these types of transfers violate the bank's policies:

"This is not detailed in the agreement. This is our policy."

The bank employee has also informed accounts that are used to transfer money to crypto exchanges will be closed.

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The information in the screenshot has been confirmed by a bank employee on Twitter:

"Group policy prohibits interactions with counterparties that issue virtual currencies or act as exchange platforms."

UniCredit Group is the second largest banking group in Italy and has offices in many countries in Europe and Russia. The bank's representative did not specify to what extent the restrictions apply to customers outside Italy.

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