Warning About Banks Threatening to Close Accounts of Crypto Investors

Warning About Banks Threatening to Close Accounts of Crypto Investors
Warning About Banks Threatening to Close Accounts of Crypto Investors

A YouTube creator shares an urgent warning about banks, specifically Santander, questioning and threatening to close accounts of crypto investors.

The speaker, a Santander customer from the UK, received an unexpected phone call from the bank inquiring about the source and destination of funds related to crypto transactions. Although the speaker had answered all questions honestly and provided detailed information about his legal business, the bank continued to press for more details. The speaker emphasizes that this is a risk for anyone investing in cryptocurrencies, especially in the UK.

He urges viewers, regardless of their location, to be aware of this issue and encourages them to watch the video if they’ve encountered similar experiences with their banks. He also underlines that he is an upstanding citizen, having paid all taxes, and operates a legitimate business. Despite this, the bank still expressed concerns about the origins and destinations of his crypto-related transactions

Although they had assumed the call was the end of the matter after answering various queries, they were contacted again and asked to provide detailed paperwork regarding their crypto transactions on Coinbase. The bank identified PayPal transactions as crypto-related and requested access to the transaction history for both platforms. The speaker expressed concerns about privacy and a trust issue, as they felt threatened with the impending closure of their account if they failed to comply.

The bank stated that the cryptocurrency-related purchases affected only their current account and would not impact their mortgage or other accounts. The speaker plans to seek legal advice and request subject access to the case handler’s notes. Ultimately, the bank sought extensive information on the size, composition, and storage of the speaker’s cryptocurrency portfolio.

They fear the potential risks of sharing such information with the bank, as they cannot fully trust who they’re dealing with or the safety of their data. The individual also warns, especially for those heavily invested in cryptocurrencies, that this constitutes a significant risk and may lead to financial instability if they lose access to their banking facilities or have their accounts frozen. The speaker advocates for caution and preparing alternate financial arrangements to protect one’s assets

Shockingly, this incident occurred shortly after he had set up a new account with a different bank. The speaker expresses his anger and disbelief over the situation, calling it “vile” and “disgusting,” and urging his community to be aware and protect themselves. He invites viewers to join his Discord and encourages open discussions about the issue. The speaker intends to bring up this matter in future interviews and plans to share updates as more information becomes available.

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