I work for one of Canada's big banks and our organization was sent an email about cryptocurrency! I thought I would share.
So after missing work for a couple of days, I log back into my computer and see an email from our Risk and Compliance Department.
The bank I work for is listed on an exchange that allows for Interac Online transfers, there is a large amount of people using the service to fund their accounts + wire transfers.
Well, to summarize the lengthy email - Due to the fact that we have members coming in daily to inquire about cryptocurrency and how to buy it + the amount of money also leaving the wealth management side to be invested into cryptos is alarming for the executives. The bank decided to not allow any transactions for cryptocurrencies and will hold your account until they call you. Comments will be made on your account, and you will be flagged for a high-risk or suspicious account and will be treated differently when applying for loans/mortgages, or anything else banking related.
Super disappointed in the decision by the executives, this is a step back for the organization - other organizations are actually holding Blockchain info sessions and what not. What do you guys think?
Oh and my advice to you all, go to your bank or call them and ask what their policies are in regards to cryptocurrencies. If they do not allow for that, use a different bank that does. This will make your life easier both currently and in the future with your bank.
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