Natwest Warns of Sub-Zero Rates, Savings NOT in Bitcoin at Risk
A large retail and commercial bank in the United Kingdom, National Westminster Bank Plc, or NatWest, has recently warned its customers that they may be charged negative interest rates. This is the first time a UK high street bank has threatened negative interest rates on customer savings. Natwest Imposes Negative Rates on Business Accounts. For now, the....
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The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology. Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies Reports show that the popular UK-based financial incumbent and wealth manager Natwest is....
A major British bank, Natwest, has put a limit on fund transfers to cryptocurrency exchanges over concerns of fraud and scams related to cryptocurrencies. The bank is also blocking payments to a number of cryptocurrency asset firms. Natwest says the two moves are necessary to protect customers. Natwest Places Limit on Transfers to Crypto Exchanges National Westminster Bank, commonly known as Natwest, is a major retail and commercial bank in the United Kingdom. A spokesperson for the bank told Reuters Tuesday that the bank has capped the daily amount customers can send to cryptocurrency....
A recentarticle in Forbes caused a stir. The piece was entitle "A Guide to South Africa's Economic Bubble and Coming Crisis". The article lays out the economic case that current South African economic growth is illusory: fuelled by 'hot money' and a resulting credit bubble that is ready to pop. It is argued that a global economic environment of low interest rates has resulted in the necessary economic distortions to drive this massive credit bubble. Interest rates should represent the price of savings in an economy. People either save or spend their earnings. What isn't spent is saved.....
NatWest and other U.K. high street banks have ramped crypto curbs amid recent regulatory pressure on the sector. As the crypto crackdown continues in Britain, another high street bank has intensified its efforts to curtail its customers' use of digital assets. The Natwest Group has reportedly capped the daily amount its customers can send to cryptocurrency exchanges due to concerns over investment scams and fraud, according to a June 29 report from Reuters. However, it was not revealed what those new limits were in terms of fiat currency transfers.The temporary cap was imposed on June 24.....
Over the past few days, some of Britain’s major banks including Santander UK, the Royal Bank of Scotland and UK-based commercial bank NatWest have been notifying their customers of potential implementation of negative interest rates on current bank accounts. While the RBS and NatWest are yet to disclose the timeframe of the cut in their interest rates, one of Britain’s largest banks, Santander UK, has told its customers that the bank is decreasing the interest rate of its 123 Current accounts from 3% to 2%. Santander UK’s 123 Current account has been serving millions of customers since....