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Lloyds Bank to ban credit card owners from buying cryptocurrencies
Lloyds Banking Group Plc said on Sunday it would ban its credit card customers from buying Bitcoin and other cryptocurrencies.
"Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” a company spokeswoman said in an email.
Britain's biggest mortgage lender will ban its credit card customers from buying Bitcoin amid fears that they could run up huge losses, the Telegraph reported earlier on Sunday.
The company will block any attempts to buy Bitcoin with a credit card starting on Monday, but digital currencies could be purchased with debit cards, the newspaper said.
- Middle finger. How could they decide how their customer is going to spend their money?Beeswax
- because it's something they don't have control of (yet). Ridiculous, they gonna ban customers going to casinos as well.fadein11
- Because it's their money (credit) not their customer's (debit).detritus
- @Beeswax erm, it's not the customer's money; it's the bank's money! LOLKrassy
- ^ oops. Didn't see @detrius' comment. So yeah, I echo 2hat @detrius saidKrassy
- Oh come on, like they put a ban on anything else. Would never be an issue if they put sensible limits and interest rates in place. Credit card companies do notfadein11
- care about their customers getting into debt lol.fadein11
- yup, it's what detritus said ... they are fronting the money as creditmonospaced
- Well let's hope their moral crusade spreads to other areas customers get into serious debt with then (it won't).fadein11
- Could be a fraud prevention measure? If you were a bad-guy with a CC number, a bitcoin exchange would be a great place to launder into real money.monNom
- ^ this.Krassy
- I thought lloyd banks was a rapper n shitcbass99