Santander Bank denies blocking payments at Coinbase

On Reddit, there were reports that transfers from Santander bank accounts do not go to the large Coinbase cryptocurrency exchange. It turned out that the bank did not block the site, but is checking payments.

A Reddit user wrote that they explained to him on the phone that the payment had been verified by the bank control department and, informally, they recommended changing the bank for transfers to cryptocurrency companies.

As reported
The Block, which contacted Santander Bank representatives, the financial institution did not block communications with the Coinbase exchange, but some payments fell under the terms of an additional financial audit.

“We do not block payments to officially operating companies, but in some situations we subject payments to additional checks. In those cases where we are afraid of an increased risk of fraud, ”the representative of Santander quoted The Block as saying.

Thus, bank users may experience delays in depositing or withdrawing funds to cryptocurrency exchanges, especially when it comes to large amounts. It’s possible that individual users who are suspicious of their transactions are subject to checks.

Note that just yesterday it was reported that a major British bank, Barlcays, had stopped working with Coinbase, so UK customers may have difficulty withdrawing fiat currencies. However, the trading platform has already launched a withdrawal through the Clearbank startup.