U.K’s NatWest Bank Blocked Credit/Debit Services For Binance Exchange

NatWest, a giant banking service of the U.K, banned all types of transactions & facilities related to Binance Exchange. So now again a new bank entered in the list which is not supporting Binance Exchange. 

Recent months are not going in favour of Binance & Binance’s subsidiaries. However Binance is the biggest Cryptocurrency Exchange of the crypto market but still it is facing lots of issues with & without reasons. The CEO of Binance Exchange also recently confirmed that they are facing lots of issues and said that running Cryptocurrency Exchange is never easy but they are ready to overcome. 

Related: It is risky to run crypto exchange : Binance CEO

Now today Binance exchange faced another ban of banking services by NatWest Bank based in the U.K. 

NatWest Group announced their notice to all of their users. They Said that any of their customer is not allowed to use banking transactions which are related to the Binance Exchange ( buy/sell trade like transactions). 

Bank also give real & transparent reasons why they are doing this. They said that they are taking this decision to prohibit their customers because of Regulatory Warnings by regulatory authorities of the U.K. 

“With an increase in scams relating to cryptocurrency and regulatory uncertainty around Binance in the U.K., we want to make sure that your money is safe. That’s why we’ll be declining all credit and debit card payments to them until further notice”

Through the statement it is clear that people can’t perform those transactions which are associated with credit/debit cards at Binance gateway. But still here full chances are, their customers are free to use Binance P2P mode for buy/sell of crypto assets. Since people don’t feel safe with P2P mode but still it is better in such kind of restricted situations.

Well finally this decision of NatWest made it join the list of Santander UK and Barclays. Santander & Barclays are two giant banking services which already stopped their credit/debit transactions on Binance for their users. Read this report here 

Read also: Buy Now Pay Later firm will allow crypto trading for Australians