Spain-based bank Santander’s U.K. business will no longer be allowing its customers to send payments to Binance, citing warnings from the Financial Conduct Authority.
Several replies from Santander’s U.K. Twitter help account today said the bank has “decided to prevent payments” to the world’s biggest crypto exchange in an effort to prevent fraud. The bank reportedly told customers they would still be able to withdraw cash from Binance, but it would be “following the FCA’s warning to consumers” in banning payments.
Many Santander account holders expressed negative feelings about the bank’s decision:
“As one of your long standing account holders, DO NOT tell me how I can spend MY money,” said Twitter user Brian Moore. “If I choose to use Binance then that is MY choice.”
A London-based user added:
“You are putting innocent, well informed customers at risk of losing significant investment due to your binance block….