5th February: UK's largest bank bans cryptocurrency purchases using credit cards from today
The Lloyds Banking Group, the UK's largest banking group with a current account market share of 27% (2014 figures) has announced that it's banning customers from purchasing cryptocurrency using credit cards that they issue.
"“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the Lloyds spokeswoman said in an email."
This will apparently be achieved by blacklisting sellers and will affect customers of Lloyds Bank, Bank of Scotland, Halifax and MBNA.
However, customers will still be able to make purchases using debit cards.
This follows similar bans by Citi Bank, Bank of America and JP Morgan Chase, with the latter stating:
“At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved.”
Because yes, they only have customers' best interests at heart.
Yes they need to be dure to get the money back