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Monday, 5 February 2018

UK Bank Joins Bank Of America in Banning Credit Card Cryptocurrency Transactions

 Lloyds Bank, a British retail and commercial bank with branches across England and Wales has reportedly barred its customers from using credit cards to buy bitcoin and other cryptocurrencies.

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The banking giant, which includes Halifax, MBNA and Bank of Scotland, is thought to be the first in the UK to ban credit card customers from borrowing to buy the cyptocurrency, which has more than halved in value in recent months.
A spokeswoman for the banking group said:
Across the Lloyds Bank, Bank of Scotland, Halifax and MBNA we do not accept credit card transactions involving purchase of cryptocurrencies.

It is noteworthy that this month, the Bank of America and JPMorgan Chase have both also barred the purchase of bitcoin for customers using credit cards.

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