Barclays has suspended debit and credit card payments from UK customers to Binance, citing recent Financial Conduct Authority action against the crypto exchange.
Barclays sent text messages to customers on Monday stating: “As you’ve made a payment to Binance this year, we wanted to let you know that we’re stopping payments made by credit/debit card to them until further notice. This is to help keep your money safe.”
Customers can still withdraw funds from Binance, says Barclays, which says it has taken the measure “following the FCA warning to consumers”.
Last month the FCA issued a consumer warning that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK”.
NatWest recently said it has blocked payments to a small number of crypto firms, while Santander is reviewing its position, according to the FT.