Santander UK to Limit Fiat Transfers to Crypto Exchanges
Main page News, Banking, UK, Cryptocurrency Exchanges, Binance, Regulations

British arm of Santander, Santander UK, starting from November 15 will limit the amount of cash users can spend.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

According to the latest update of fraud and security police, the bank's clients will no longer be able to send over £1,000 (~$1,120) per transaction or £3,000 (~$3360) in any rolling 30-day period to crypto-related addresses.

Santander added it will also continue to stop payments being sent to Binance following the FCA's warning to consumers about this cryptocurrency exchange. The bank says the changes have been made in order to "make sure your money stays safe."

UK to Equate Cryptocurrencies to Financial Instruments

Santander started blocking payments to Binance in the UK last year. Barclays, one of the largest British banks by assets, also stopped wire transfers to Binance to help to keep user's money "safe."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error