Skip to main content

Santander Denies Blocking Coinbase

After Barclays had refused service to Coinbase, there were allegations on another refusal, by Santander this time.

A representative of the Spanish bank Santander has denied the information on blocking Coinbase’s customers from depositing money. According to him, the bank doesn’t block payments, but they can be subjected to an additional security check, which in turn may lead to a delay of deposits and withdrawals, as per the Block’s writing.

The rumors on the blockage appeared on Reddit on August 14. An unconfirmed source reported that he found it out in a conversation with the bank’s representative on the phone. After this, the user put in a complaint to the due department, which confirmed that the financial organization is no longer servicing Coinbase.

Earlier, Barclays refused service to the exchange. Thus, a fiat transaction from the UK takes a few days, although it was immediate before. Coinbase put up cooperation with a new bank called ClearBank and is going to get back to a full-scale operational performance until the end of 3Q19.

The banks of South Korea refused service to a range of cryptocurrency companies. The implementation of the new anti-money laundering rules was the reason.