UK's Starling Bank Temporarily Blocks User Payments to Crypto Exchanges: Report

Customers of Barclays and Monzo have also been complaining of difficulty making deposits on exchanges, according to The Telegraph.

AccessTimeIconMay 31, 2021 at 1:21 p.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC

U.K. challenger bank Starling has stopped its customers from sending deposits to cryptocurrency exchanges.

  • According to a report from The Telegraph on Saturday, Starling confirmed that it has taken the temporary measure over concerns about "high levels of suspected financial crime with such payment."
  • A spokesperson told the newspaper the block would be reversed once additional checks had been put in place.
  • The Telegraph writes that users are also complaining on social media about similar blocks by high-street bank Barclays and online bank Monzo.
  • When contacted, Barclays denied that it had put any restrictions on payments to crypto exchanges, while Monzo declined to comment, the report said.

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