Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency
  • Cryptocurrency Exchanges
  • News

Natwest Bank Imposes Restriction over Daily Fund Transfer from Customers to Their Crypto Exchanges

Lucas Williams July 2, 2021 3 min read

Now the customers of Natwest Bank would only be authorized to send a certain amount of funds from their bank accounts to their crypto trading platforms. The leading commercial bank of the UK has grown concerns over the use of crypto for scams and frauds and thinks that the bank too could be exposed to potential risks. Meanwhile, customers have been further debarred from transferring their funds to certain crypto trading platforms.

One of the major and leading privately owned banking institutions of the UK namely Natwest has taken two crypto-aimed initiatives. However, both the steps are concerning crypto but they are not in favor of crypto.


trade now

An official of the bank told that certain restrictions on the transfer of funds from bank accounts to crypto exchanges have been imposed. For instance, only a certain number of funds will be subject to transfer by the customers. The limit has been capped on daily basis and the customers have been informed to ensure strict compliance with the new rule.

The bank also told the customers that such an action has been taken for the customers’ good. The official told that crypto frauds are continuously increasing because people are putting their investments into crypto. Since there is a huge outflow of funds from banks to crypto exchanges, crypto criminals are trying to utilize this opportunity. In the best interest of Natwest’s customers, the bank has decided to impose restrictions on the daily transfer of funds. However, it was clarified by the bank that the decision is for the time being until there is a reduction in crypto crimes.

As a second step, the bank has permanently debarred the transfer of funds from Natwest’s accounts to several crypto trading platforms. These crypto trading platforms are those which do not enjoy a good reputation within the digital asset industry. In fact, the reputations and legitimacy of most of them are doubtful. This is why the bank has told the customers that they will not be able to utilize banking services for sending monies to such exchanges. If such customers wish to transfer funds to exchanges then they would ensure that their exchanges are not part of the banned exchanges’ list.

The bank explained to the customers that such actions are necessary as they will ensure the safety of the customers and the bank. If restrictions were not imposed, then the bank would too be exposed to potential risks of fraud and scams.

Meanwhile, the customers have been warned to remain alert at all times while dealing with exchanges. They have been warned against the high number of crypto crimes taking place in the UK.

It may be noted that Binance exchange, which needs no introduction, has been put on the list of banned exchanges by Natwest Bank.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Money-back Review – Is Money-back Scam or Legit?
Next: Galaxy Raises $7.5 Million For Creators’ App

Related Stories

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • Metaverse
  • News
  • Regulation
  • Scam / Hack
  • Web3

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,541.00
-1.59%
ethereum
Ethereum (ETH)
$1,641.80
-2.05%
tether
Tether (USDT)
$1.00
0.02%
binancecoin
BNB (BNB)
$320.05
-2.12%
usd-coin
USD Coin (USDC)
$1.00
-0.02%
ripple
XRP (XRP)
$0.411476
-0.80%
binance-usd
Binance USD (BUSD)
$1.00
0.02%
cardano
Cardano (ADA)
$0.399589
-2.09%
dogecoin
Dogecoin (DOGE)
$0.091589
-3.10%
polkadot
Polkadot (DOT)
$6.59
0.54%

Recent Posts

  • Trade.com Review – Is Trade.com Scam or a Proper Broker?
  • Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
  • Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
  • Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
  • Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
  • India 2023 Budget Retains Strict Crypto Tax Rules
  • Where Did Terra Developers Go After Network Collapsed?
  • Core Scientific Strikes $70M Loan Deal With B. Riley
  • BTC Miner Greenidge Reduces $72M Debt With NYDIG To $17M
  • South Korean Law Enforcement Investigates $8M Crypto Scam Targeting Investors
  • Floki Won’t Actually Burn $115M Worth of Tokens: Here’s Why
  • HSBC Reveals Crypto Industry Move with Job Openings
  • Binance Shuts Down Several Accounts Amid Bitzlato Investigation
  • ETH Added An Average Of Over 130,000 Addresses Daily In 2023
  • UK’s Charity Commission Probes Charity Organization Linked To FTX

Categories

You may have missed

Trade.com Review – Is Trade.com Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers

Trade.com Review – Is Trade.com Scam or a Proper Broker?

February 3, 2023
Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • Metaverse
  • News
  • Regulation
  • Scam / Hack
  • Web3

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%