Santander UK has put a per transaction limit as well as a total monthly restriction on the amount that users can transfer to crypto exchanges.
Santander UK Bank Says Investing In Crypto Can Be High Risk
The United Kingdom branch of the banking giant Banco Santander yesterday posted a notification for its customers, where it alerted users that investing in crypto assets can be high risk.
“In recent months we’ve seen a large increase in UK customers become victims of cryptocurrency fraud,” notes the bank.
Santander UK further explains, “the Financial Conduct Authority (FCA) has warned consumers about the risks of investing in crypto assets as money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.”
As a way to protect its customers, the bank has decided that the best way to do so…
