The bank in portugal Santander Totta is blocking the transactions involving Bitcoins

Banco Santander Totta, Portuguese subsidiary of the Spanish bank Santander, would have put a stop to the transactions related to Bitcoin, according to the local daily newspaper ECO. According to the newspaper, the bank has recently started to block transactions from various exchanges of crypto-currencies, stating that exchanges pass through of financial products that are not regulated.

Stack pieces of Bitcoin

“Santander Totta does not deal with the transactions related to crypto-currencies non-regulated “

In an e-mail sent by the bank to a customer who complained about not being able to transfer funds from the platform Coinbase, Banco Santander Totta said ” Coinbase is an entity dedicated to the purchase and sale of digital currencies, and that Satander Totta does not deal with the transactions related to crypto-currencies are not regulated. “According to ECO, a client who has managed to speak to a bank employee through a personalized service dubbed “Superlinha” affirms that the employee has confirmed the existence of an internal directive to block transfers using the IBAN of Coinbase. On social networks, the question has apparently been raised as early as the end of the year 2017, a few days before Christmas.

Logo Coinbase Source : Coinbase

Santander Totta frustrates many users of crypto-currencies

Also, Coinbase is not the only platform that Santander Totta refuses to process transactions. Earlier this week, a user of Facebook has revealed that Bitstamp was not an option for the clients of Santander Totta, because Bitstamp has informed that the bank was not processing transactions that ” are derived from businesses related to crypto-currencies. “However, the blockade does not seem complete, because many of them would have been able to send and receive funds from other platforms such as Kraken. Others, in an attempt to circumvent the position of Santander Totta, have omitted the name of the recipient at the transfer of funds. Moreover, it would appear that Santander Totta address transactions involving the crypto-currency Ripple.

Source : Cryptocoinsnews