The British branch of the Spanish multinational commercial bank and financial services company, Santander, has now imposed a £1,000 ($1,120) limit on crypto transactions for customers in the UK.
Emphasizing protection from crypto fraud, Santander says this restriction is intended to protect customers from crypto investment risks. The firm noted,
“We want to do everything we can to protect our customers, and we feel that limiting payments to cryptocurrency exchanges is the best way to make sure your money stays safe.”
Additionally, the bank also stated from the 15th of November 2022, a limit to making crypto transactions worth $3,360 during 30 days would be implemented. The restriction only applies to customers who use their Santander bank account to deposit funds into crypto exchanges.
Though customers can still withdraw from exchanges to their bank account, the bank added that it would eventually be making more…
