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Which Irish Bank to use? Ulster Bank no longer working with crypto

  • 07-09-2021 4:50pm
    #1
    Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    So basically per the title. I have been using Ulster Bank for crypto this past good while, but have recently had much more difficulty getting any money across and was told on the phone that UB are no longer allowing their customers to deposit to any crypto related platforms due to the risk and scams bla bla bla.

    So which banks (Preferably Irish) are more crypto friendly?



Comments

  • Registered Users Posts: 1,230 ✭✭✭ Wetbench4
    Registered User


    Same happened to me, so i setup a revolut account and buy using that. Just send money to revolut from UB and buy away.



  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    Good to hear I was not the only one. All well and good I suppose until we have to sell it out and convert it to fiat eventually. Will obviously entail a change in banks.



  • Registered Users Posts: 372 ✭✭ mcriot29
    Registered User


    Can I ask what did say to you had you been sending large amounts

    I don’t get why it’s any of there business



  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    Not really maybe 2-3kish a month.


    Had an issue sending an old school transfer last week. Did not go through. Then tried to use debit card to purchase some on a dip yesterday. Nothing at all was going through debit card, despite balance being there. I then rang them up to enquire.



  • Registered Users Posts: 1,960 ✭✭✭ antimatterx
    Registered User


    Surely they can't legally prevent you buying what you want.



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  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    They can and do prevent you from using a debit card to buy anything of exchanges and additionally can hold back transfers.


    I just need to change banks, but not sure which one to go to that won't be at the same.



  • Registered Users Posts: 1,960 ✭✭✭ antimatterx
    Registered User


    FYIW, I use AIB and have no issues.



  • Registered Users Posts: 372 ✭✭ mcriot29
    Registered User


    How long where you using it for before they blocked you with the bank transfers

    maybe it’s cause Ulster bank are leaving Ireland



  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User




  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    Just set up a N26 Bank account there. Much lower fees too and seem to have no issues with crypto. So that is who I am going to use for most of my personal banking in the future.



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  • Registered Users Posts: 372 ✭✭ mcriot29
    Registered User


    What’s the n26 how to you get your funds into I really can’t see how they can block you using a bank transfer cause it’s your choice

    where and who you send your money to



  • Registered Users Posts: 123 ✭✭ James2020App
    Registered User


    N26 is an online German bank, that has received an authorisation to work all across Europe. They also have an Irish banking license so can legally operate here to Irish customers. It is very similar to Revolut but actually has a banking licence. After going through some KYC they provide you with a bank account including an IBAN & BIC. You can then use this account as if it is your bank account, as you receive a virtual debit card and can do transactions with it etc.


    I was previously sending the money to one of the main crypto exchanges.



  • Registered Users Posts: 372 ✭✭ mcriot29
    Registered User


    So how do you get money to there account the german bank ,I mean cause if some are not allowed to send to coinbase maybe the bank will block them sending money to n26 also.



  • Registered Users Posts: 153 ✭✭ Jackben75
    Registered User


    What exchange was it? Same happened to me on Binance(debit card). Coinbase worked fine.



  • Registered Users Posts: 93 ✭✭ Maxface
    Registered User


    Bought yesterday on Coinbase, Ulster Bank. I would imagine it is Binance.



  • Registered Users Posts: 15,547 ✭✭✭✭ fritzelly
    Registered User



    I too use N26 for all transfers to exchanges - you either have your wages transferred to them (if your employer isn't stuck in the Stone Age) or transfer from your Irish bank which shouldn't take more than 2 days (should be there next day if you transfer before 3pm)


    Never had a problem so far with Binance, Coinbase or Kraken and deposits happen pretty much instantly



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