Push back at the Banks (UK edition)

Today I received a text message of joy from my bank stating that all payments to Binanace will now be declined, I knew it was coming so I have alternative mean to deposit into Binanace.

However I felt some what (insert profanities here????) so I decided to draft a quick complaint. I think everyone who has been affected should write to their bank expressing your thoughts. Below is what I wrote, feel free to use it if you like (l left a blank space for the name of your respective banks). Even if this has no effect, let’s spam their complaint departments and give them some work to do. (Ps excuse the spelling mistakes, wrote it on the phone in a hurry).

It appears that “Bank name” has taken a number of step to in recent month to firstly restrict and now to completely stop clearing of payments into centralised cryptocurrency exchanges, mainly Binanace. I do find it highly disturbing that a banking institution has audacity to dictate to their customers how they should spend their money. Further more I don’t believe it is sufficient to simply state that this is done due to an increase in scam activity and regulatory uncertainty.

As Binanace firstly has not been found guilty of any wrong doing under the law of the land by any court with in the UK jurisdiction and secondly is not subject to FCA authority as it does not operate from the UK.

Thus I would like to have the following information provided so that I can review my future position as your customer:

1. The exact line of T&C that which outline “Bank name” rights to pick and chose how their customers spend/handle their personal funds.
2. A justification for why no prior notice has been given in writing to restrictions of banking services;

3. A full list of other centralised crypto currency exchanges that are effected, categorised in the following manner: A- have a daily deposit limit applied (and what that limit is); B- a full list of all blocked entities that can not be deposited into; C- a full list of entities that are unable to transfer funds into a “Bank name”account; D- a list of other measures currently being considered to restrict crypto currency entities;

4. Finally do restrictions apply across private banking customers only or are business customers are subject to the same restrictions