Santander UK Blocked Retail Payments to Binance

​Santander UK, a large retail and commercial bank based in the UK and a wholly-owned subsidiary of the major global bank Banco Santander, has suspended all retail payments to Binance, which is a world’s leading cryptocurrency exchange.

“Keeping our customers safe is a top priority, so we have decided to prevent payments to Binance following the FCA(Financial Conduct Authority)’s warning to consumers. In recent months we have seen a large increase in UK customers becoming the victims of cryptocurrency fraud,” said Santander UK.

The bank will still allow customers to withdraw money from Binance .

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Earlier this week, Fazzaco reported that the British universal bank Barclays has suspended debit and credit card payments to Binance, as the FCA has ordered Binance to halt any regulated activity in the UK on June 26.

Furthermore, the Polish Financial Supervision Authority (UKNF) recently issued a warning against Binance Markets Limited​, a subsidiary of cryptocurrency exchange Binance, that it was not permitted to conduct crypto-related activities in the country.