Great Britain's third largest bank Natwest defines a daily limit of £ £ £ 1st for crypto deposits

Great Britain's third largest bank Natwest defines a daily limit of £ £ £ 1st for crypto deposits

The popular British Financial Institute National Westminster Bank (NATWEST) has limited the funds that its customers can spend on crypto purchase in order to reduce their commitment in the volatile investment class.

according to Bloomberg Report Natwest account holder now have a transfer limit of £ 1,000 ($ 1,215) per day or £ 5,000 ($ 6.090) every 30 days in crypto exchanges.

Natwest limits the crypto activity of the customers

Natwest, the third largest bank of Britain after market capitalization, said that the decision would prevent its customers from losing "life -changing money" through cryptoinvestment and fraud.

The bank announced that fraudsters use false promises of high returns to attract investors and take advantage of their lack of understanding of crypto and their volatility in order to tempt them to transfer money to crypto exchanges.

Stuart Skinner, head of the fraud protection at Natwest, found that the increase in the number of fraud that runs through crypto exchanges forced the bank to introduce the limits because the company strives to protect its customers.

"Criminals with a lack of understanding of the functioning of cryptocurrency markets and their unpredictability to encourage investors to transfer money to stock exchanges that are often set up in their own name of the criminal or the victim under the coercion of the criminal," said Natwest in an explanation.

In the meantime, this is not the first time that the bank imposes such restrictions on its users. In June 2021, Natwest temporarily limited The amount that customers could send due to the rapid increase in investment fraud and fraud on crypto exchanges.

At that time, Natwest also blocked transfers to several crypto companies that showed signs of fraud -related damage for their users.

British banks set restrictions on crypto expenditure

It is worth noting that Natwest is not the only British bank that recently imposed restrictions on its customers. Cryptopotato reported At the beginning of this month, several large banks had banned the accounts of the users or imposed higher crypto expenditure limits.

HSBC Prohibition recently the purchase of cryptocurrencies with their credit cards and referred to possible risks, while the Nationwide Bank set a daily limit of £ 5,000 ($ 6.090) for all debit card purchases for digital assets.

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