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

James2020App · 07-09-2021 5:50pm #1

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?

Wetbench4 · 07-09-2021 7:13pm

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

James2020App · 07-09-2021 8:25pm

https://www.boards.ie/discussion/comment/117859859#Comment_117859859

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.

mcriot29 · 08-09-2021 12:47am

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

James2020App · 08-09-2021 8:43am

https://www.boards.ie/discussion/comment/117861507#Comment_117861507

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.

antimatterx · 08-09-2021 8:44am

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

James2020App · 08-09-2021 9:02am

https://www.boards.ie/discussion/comment/117861853#Comment_117861853

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.

antimatterx · 08-09-2021 9:07am

FYIW, I use AIB and have no issues.

mcriot29 · 08-09-2021 3:53pm

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

maybe it’s cause Ulster bank are leaving Ireland

James2020App · 08-09-2021 4:23pm

https://www.boards.ie/discussion/comment/117864096#Comment_117864096

Over a year.

James2020App · 09-09-2021 2:29pm

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.

mcriot29 · 09-09-2021 3:50pm

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

James2020App · 09-09-2021 5:43pm

https://www.boards.ie/discussion/comment/117868703#Comment_117868703

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.

mcriot29 · 10-09-2021 4:37pm

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.

Jackben75 · 11-09-2021 8:45pm

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

Maxface · 11-09-2021 9:24pm

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

fritzelly · 16-09-2021 3:53am

https://www.boards.ie/discussion/comment/117873273#Comment_117873273

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

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

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