Are banks restricting payments further? RBS put a block on my account using BS excuse

[JohnA1]

Tried to transfer a few hundred squid and 'computer says no'🤬

Not a new payee either. WTF

Says now restrictions are £1000/day for all payments altogether.

It used to be £1000/day for a new payee because supposedly they are not 'verified'.

Now it's the same limit for all of them, even if it is a few hundred here, a few hundred there.

 

They're tightening the noose it seems..

[HonestMoneyGoldSilver]

If you went to the Apple shop and spent £10K they wouldn't bat an eyelid, they'd probably offer you another credit card

[JamesH]

Bit of a thread resurrection but are banks easing up on PM transactions nowadays. Touch wood, everything appears to have flowed seamlessly for several months now (Nationwide) and not even having to use multi factor authentication when adding new payees

[Petra]

Never had a problem with Nationwide🤔 got my free £100 off them the other day😮😁

[Roy]

9 minutes ago, Petra said:

Never had a problem with Nationwide🤔 got my free £100 off them the other day😮😁

That was a nice bonus eh? 😊

Are you listening Barclays? 😋

[Spyder]

53 minutes ago, Roy said:

That was a nice bonus eh? 😊

Are you listening Barclays? 😋

Unless you are a shareholder, why would Barclays give you anything?

 

[Orpster]

Never had an issue with my Halifax account and the limit is £25k a day

I did stop using both my Kroo and Santander accounts though.  Kroo starting sending me emails asking me to provide details of what payments going into my accounts were (I was using that account to move money out of PayPal and for PM sales and to store it as it paid about 4.5% on credit balances) and Santander stopped a transaction and refused to let it through even after I had spoke to them.  Claimed the payee was marked as suspect - it was the Royal Mint!

[ArgentSmith]

Bitcoin fixes this, it's permissionless  😁

[Roy]

1 hour ago, ArgentSmith said:

Bitcoin fixes this, it's permissionless  😁

Do the Royal Mint accept bitcoin now?

😋

[ArgentSmith]

1 hour ago, Roy said:

Do the Royal Mint accept bitcoin now?

😋

Who buys from Royal Mint? Seriously though what sort of system is it where a third party gets to choose how much and where you can spend your money. Imagine trying to take your net worth out of the country, mission impossible if there were capital controls in place. Just sayin, carry on as you were.

[HonestMoneyGoldSilver]

3 hours ago, ArgentSmith said:

Bitcoin fixes this, it's permissionless  😁

Does it now? People here negotiate over a fraction of a %. You think you're going to buy gold or silver with bitcoin and pay those fees?

When you exchange BTC for gold, fiat or another crypto, that's a taxable event. You are legally required to keep records and pay any due taxes to HMRC. Bitcoin is not suitable for small transactions (<£10K) and only really starts to make sense like Bill Gates said when you want to send millions internationally

[Roy]

'Daddy, tell me about the time you had to flee the country because of the civil riots and government lock downs...'

Well son, we had to bribe the border guards and pay the boat captains to smuggle us across the channel 

'OMG, did they accept bitcoin?'

😇 being a d*ck