It's Not Your Money... How Banks Ban Crypto on Your Credit and Debit Cards

This just happened to me tonight. with chase tonight. I am moving all my money out of chase.

Just tried to buy bch and was denied by chase... My other bank did allow it...

PayPal will let you buy only 4 coins! I have my Citi Card linked to my account.

i literally just went through this right now! i am furious this is scary. i want to sue! is that even possible?

This happened to me today any one know a crypto friendly bank?

is there a way to get around this im missing out on money

This is insane

It is crazy how they make you lose your time on the phone to be unclear with there internal policy, it is not difficult to give you the information of what or not you can do with your own money!

Debit transactions I believe run through VISA or MasterCard and are instant, which may be why Debit Card transactions are treated the same as credit card transactions. ACH (Automated Clearing House) is a non-credit separate system with different and better security. It's also not instant so there's more time to monitor/check the security (authenticity) of the transaction.

STAY AWAY FROM cHASE, I'm being charged for a product I returned 2.5 months ago, Amazon sent me a conformation they received the returned item in the sealed box. Ive disputed this with chase 2x's already, I will be closing both of my chase accounts quickly. It's the only thing I have disputed with this shitty card company. I will trash their name every chance i get from now on.

This literally just happened to me too. They told me that CHASE no longer allowed purchases of crypto. The rep (granted he was attentive and studious) did not know what he was talking about. He told me my 4 last transactions in early Feb. for crypto purchase were declined, when 100% they were not. I corrected him by verifying my purchases on both the Exchange as well as my bank account. Once he realized his error he apologized but told me going forward that I would not be able to use my Chase card. Somewhere within the last 3 weeks CHASE decided whats best for me and my family and implemented this change without any proper notification. I think I might leave now and close my 4 lines of credit as well :(

Use a community bank instead. Also, debit cards are technically bank property. Your money is yours, but the card issuer can and frequently does block certain types of transactions using a debit card. ACH is regulated differently and has a better chance that the bank can reverse a fraudulent transaction vs a debit card transaction.

YES!!!! That is happening to me right now!

Have to find another way!!!

Just Unbelievable!!!

They would not allow me to purchase it with my debit card. I feel like they can send a message when your card is used. Like they always do with purchases. To be honest, I believe they stopped it with ACH as well. Mine was denied with FTX.

The banks suck for declining purchase of crypto with your card and money you funded using their bank, its the same issue in my country with most of the banks, its really annoying, especially for people like us who want to invest our money to earn more...

Same thing happened to me, I called and that’s exactly what they told me. Time to leave chase

My bank just told me it came up as fraud and declined because they don’t “support gambling” wtf

I’m 18 and tried buying some XRP on uphold through CHASE and boy I’m mad afff. They want me to go through Routing number. And then uphold says I won’t be able to withdraw my crypto to any external wallet for 64 days 😪

I have faced the SAME issue and trying to find a workaround. What did you end up doing?

The banks feel the crypto movement gaining ground I think. This is their best defense as well as Capital One because there is no other way to buy crypto on Coinbase if you don't have these 2 national banks. Just sad because we are no longer in free America.

It is my money, not theirs. This is a BS policy being put into place to prop up the US Dollar, FDIC, and American banking services

There are so many scams happening through debit/credit cards instead of being so stubborn about making your point you should understand their point of concern. Banks pays billions in fraud because of customers like you then banks leave those charges on all customers by charging them more fees. Stop saying it’s my money it’s my money. It doesn’t entitle you to make banks compromise their security

Chase is but hurt. Bitcoins taking over!

just subscribe because i’m currently having the same issue i invest into crypto and nfts and recently had to miss out buying a solana nft ( okay bears) because my bank wanted to block me from buying crypto if anyone can help with a way for me to buy crypto i be very happy

It is all fun and games until you get scammed and you don’t have a 3rd party to get your money back.

I got scammed before, and refunded by my bank because they wanted to keep my business. If I get scammed out of bit coin, there is no way of getting it back.

It just appears that chase was trying to protect you by not using debt to buy bit coin, the debit card was said repeatedly it was risky, and you can make your purchase with a direct deposit. They all said direct deposit are safe from this scam. So go to a riskier bank or be nice to the bank who is trying to protect you.

Ouch!

Same thing happened to me I think it’s bull crap.

😂

Harris Bank is the same. Total B.S. they make it hard for us until they get their early share.

Banks are investigating in CRYPTO, but they won’t let us do it?

chase isn't allowing me to purchase over $250.00 on coin base as of 2 months ago

There is just as many scams in normal banking that's not crypto related.

yeah td bank wont let me used my credit or debit cards to purchase crypto on coinbase but i can with my checking account no problem. Now i have a visa prime card that i was able to buy crypto with into coinbase years ago but havent tried it recently. which credit cards are crypto friendly?

Know a few people that use their cards to buy BTC on Instacoins in the US and have no issue but must depend on the bank

Have any body had this problem with uphold all my funds are in account adjustment

yeah i agree, i use my bank card fine so far with instacoins which is best place to buy btc anyway so im a lucky one i guess

No such thing with Instacoins.

lol bro

I have a chase account. Tried to purchase crypto yesterday for the first time and was declined. So what is a good method around this? Will google pay work?

We are having the same issues to onboard our users to buy NFTs and our users can not buy Matic easily. We have a lot of users wanting to buy NFTs and they are having tons of problems getting the Matic for the purchase

All the banks are following suit unfortunately. I tried Citigroup and Target National and was declined. Our local credit unions are probably the best to use.

just let me know if you guys want a sofi link ? ;)

It's frustrating because you know something what if when they block your purchase from buying crypto it cost to lose money because the price changed in the market so then you lose they're affecting you from making money.

I am having the same issues with those bastards... I guess they don't make enough money

It's not their fault they just work there they're not the ceo of that bank

I went through the same thing with Chase over a 3 day period. I had previously been able to. The same thing with TD and my other bank accounts. They also decline using wire transfers. They site potential fraud. I spent a tota of 6 days, 42 hrs, and at least 30 representatives. Chase has now frozen my acct because of attempted fraudulent transactions and transfers.
It's beyond frustrating. It seems they want to eliminate retail purchases

Hysterical. Banks suck. Here is what is happening here. Credit & Debit Card transactions in the USA are 100% insured against fraud by the financial institution. Not so ACH transactions. They are shifting the burden of potential fraud onto the account holder. So if there are situations where the banks faces liability they shift it all to us. At no point are they protecting us, just themselves at our expense.