UniCredit Bank prohibits clients from working with cryptocurrency companies – Bits Media

The large Italian bank UniCredit has prohibited its clients from making payments in favor of cryptocurrency companies. According to UniCredit support, this is prohibited by bank policy.

A message appeared on the popular Reddit forum, explaining the situation. How they wrote it
bank representatives on Twitter, restrictions are not specified in the service agreement. According to them, this is “just the bank’s policy”. Moreover, user accounts, making transactions in favor of any cryptocurrency companies and exchanges, may be blocked. Support staff also noted the possibility of “reporting such suspicious transactions”. Who can the bank client data be transferred to?, not specified.

“I don’t have an account with UniCredit, because it's a terrible bank, associated with the worst politicians in the country. But this is a large European bank, and I advise all clients to close their accounts and switch to another bank.”, - calls a Reddit user under the pseudonym Trevigol.

Many forum users supported him and said, that they will try to change the bank and transfer their accounts to another financial institution.

UniCredit is far from the first bank, has a negative attitude towards customer interactions with cryptocurrency companies. Banks usually block the accounts of cryptocurrency firms, however, some prohibit user deposits on cryptocurrency exchanges. for instance, at the end of May such a ban was introduced by the British bank Starling. However, the ban was temporary and 23 June the bank lifted the restrictions.