Barclays Will Not Accept Bitcoin as Payment into Bank Accounts

Barclays Will Not Accept Bitcoin as Payment into Bank Accounts

Leading UK Bank Barclay's has denied it will accept Bitcoin later this year as reported in numerous publications including The Sunday Times and Ars Technica. The report stated Barclay's would work with an un-named Bitcoin exchange and that, at first, only charities would be able to pay bitcoins into Barclays accounts. However, CCN received an email from Barclays regarding the reports, and the bank promptly denied any such plans. "Barclays is not accepting or holding any Bitcoin as some outlets have suggested," Barclays' Candice Macdonald, Vice President of Group Media Relations, wrote. "No....


Related News

Barclays Pingit Blocks Bitcoin Sellers’ Accounts

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....

Barclays Bank Takes GBP Deposits For New UK Bitcoin Exchange Bit121

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....

UK Banking Giant Barclays to Allow Charities to Accept Bitcoin

Barclays has announced it will take its first steps toward supporting the use of bitcoin as an alternative payment method by allowing charities to accept donations in the digital currency. In a new article in The Sunday Times, the multinational financial services firm hinted that it had entered into a partnership with an unnamed "bitcoin exchange or spending platform", and that it would seek to begin a formal rollout of the service by 2016. Barclays chief design and digital officer Derek White provided the news source with few details about the partnership, other than to state that it was....

Barclays Set to Start Experimenting with Bitcoin

Barclays is set to become the first UK bank to officially accept payments in Bitcoin, as reported in The Sunday Times. The multinational banking and financial services company announced recently that it is set to become the first bank in the United Kingdom to start accepting Bitcoin as a payment method. Barclays announced that they could start experimenting with Bitcoin as early as by the end of this year. Stating that Bitcoin has the potential to change financial services, Barclays revealed that it has entered into a partnership with an undisclosed Bitcoin exchange. They also revealed....

Barclays Bank Has a Trick for Halloween: Bitcoin Has a Treat

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....