Cryptocurrency fraud is on the increase
We've taken steps to help protect you from cryptocurrency fraud. This follows a rise in the number of people falling victim to scams.
What is cryptocurrency and why is it risky?
Cryptocurrency is a digital asset that you can trade or exchange online.
There have been regulatory warnings about the risks of investing in crypto. In most cases crypto assets are unregulated, so if something goes wrong, money held in crypto wallets is not protected by various regulators and ombudsman services.
The value of crypto assets can also change very quickly, and all funds invested are at risk, so you could lose everything.
Cryptocurrency Payment limits
The following limits apply to payments you sent to cryptocurrency exchanged using:
- your debit card
- online and mobile banking
- our branches and contact centres
Our limits
- Payments – £2,500 for a single transaction and a total of £10,000 in any rolling 30-day period.
- Debit cards – £2,500 for a single transaction and a total of £10,000 in any rolling 30-day period.
These limits are applied per customer with transaction values monitored over a 30-day rolling period.
We will continue to refuse all credit card payments for cryptocurrency.
You can still receive payments from cryptocurrency exchanges into your account.
Read more about our payment limits.