Barclays Bank Blocks Customer's Account Following Bitcoin Transaction
A Barclays customer in Scotland has claimed the bank blocked access to his account after he made two transactions to buy bitcoin. The customer, who wanted to remain anonymous, wrote about his experience under the username Apollo Moonwalker on reddit. He has since revealed to CoinDesk that he bought bitcoin through Bitstamp and Localbitcoins in the first week of December. He claimed he sent about £100 each time, first through a SEPA payment to BitStamp and then a bank transfer to a seller on Local Bitcoins a week later. After making the second transaction through Local Bitcoins, he said he....
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Barclays Bank, one of the largest banks in the world, has today issued a warning on the nascent digital currency Bitcoin arguing that it is not backed by any government or central bank and the deposits are not insured. The warning follows numerous similar warnings by Consumer Financial Protection Bureaus in the aftermath of the still mysterious downfall of MT Gox. Barclays urges its customers to beware of hackers and scammers and beware of rate fluctuations as well as general advice such as carefully read the contract and know with who you are dealing. Absent from the warning however is....
Now that Barclays has decided to close down Pingit accounts belonging to Bitcoin sellers, the battle lines between both industries are drawn once again. The war between traditional finance and Bitcoin is far from over the by the look of things, as Barclays has shut down several Pingit accounts belonging to cryptocurrency exchanges. As one comes to expect, Barclays did not even bother to notify the sellers in advance. Barclays Does Not Like Bitcoin Pingit Users. The convenience of Pingit has attracted many customers in the United Kingdom, as all lets bank account owner slink their mobile....
Swedbank recently froze a customer's account after it found out about her selling five bitcoins on a digital currency marketplace. The customer, who asked not to be named, said the Swedish bank froze her account a few days after she sold her bitcoins on LocalBitcoins.com. "I sold the bitcoins on 4th September 2013. I could see that the money had been deposited into my bank account. When I checked my account a few days later I could see that it was blocked and I couldn't do any transactions on my account," she explained. The customer went on to say she was particularly frustrated that the....
Barclays is taking sterling deposits for a new bitcoin exchange, making it the only UK bank to do so currently. Banks in the UK have avoided working with bitcoin exchanges so far, but customers of new bitcoin exchange Bit121 can deposit their sterling to a Barclays account with a Canary Wharf address. The account belongs to a payment service provider called PacNet Services Ltd, which Bit121 works with. Barclays therefore does not have a direct relationship with the bitcoin exchange. When contacted, Barclays refused to comment on its policy towards working with bitcoin exchanges. Daniel....