RE: Finally Got To Buy Some Steem - Or Did I?
Oh lordy. That sounds like such a rigamarole. I've had problems communicating with CB before as well. They took nearly two months to process linking my bank account 😬
I think it might be a UK thing. Banks here would like to block access to crypto completely and they hide behind justifications about money laundering etc. Reality is that they know if everyone learnt this technology their monopoly on billions of $$ from charging transfer fees would be over.
I had to explain to an anti-fraud person from my bank why I was moving less than £500 to CB about 6 months ago. When I said I was buying BTC as an investment he gave me all kinds of shpile about 'knowing the risks'. When I asked him why my bank was asking questions about this transfer particularly when I've moved larger payments to utility suppliers etc he wouldn't give a straight answer. I think he said something about 'high risk of fraud'. What was funny was right after he'd decided the transfer was ok to approve he started asking me about BTC's prospect of increasing in value. Lol this was when it was at 4k so I told him it was set to double over the next year. 🤣 There might be a very happy bank call center advisor somewhere if he chose to listen to me 😉
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Nah. I don't think it is. I've heard just as many stories from the US, for example. It's more to do with ignorance I think.
I got to the bottom of the faster payments thing and discovered it was because Barclays had pulled out of crypto stuff and they were the Bank that processed for Coinbase. They've now moved to Clear Bank (never heard of them 😂) which was what was going on in August. The switchover.
They probably didn't want to make it public that a major bank like Barclays was pulling out.
It's all such early days and I'm learning that being a pioneer is as frustrating as hell in many, many ways! 😂
Interesting. I've not used CB to cash out for ages. I think I need to go and find the new bank deets asap so that my options are kept open. Thanks for this info Gillian. It's super helpful.
You're welcome! 😊
heh heh, good story :)
Ha ha, yeah. I 4t he was a bit cheeky basically putting me through the ringers with all the 'stock questions' and then asking me for crypto investment advice 😆🤣
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