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British bank denies credit card payments for cryptocurrency

British bank denies credit card payments for cryptocurrency

The largest financial institution of the UK, Lloyds Bank, has toughened the requirements for customers buying bitcoins, writes Telegraph.

In particular, the bank administration banned paying for bitcoin with credit cards. Lloyds fears that due to instability on the cryptocurrency market the use of credit funds for investing in bitcoin can lead to huge losses.

Payments will be monitored by a special system. If detected, the transactions will be blocked.

According to the press secretary of the financial institution, such measures are taken in the interests of clients. It is noted that the ban does not apply to debit cards.

The decision also applies to customers of Halifax, Bank of Scotland and MBNA, which are part of the Lloyds Banking Group.

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