Australian & NZ Banks aren't allowing crypto withdrawals

A number of Australian and NZ banks have been cancelling transactions of anything related to "crypto" or "btc". This is their reasoning:

Hmmm. is this illegal? "its ahsha not real money ahaha so uhhh ahha we arent letting you buy it hahaha sorrryyy"

Other urls found in this thread:

afr.com/brand/chanticleer/cbas-crypto-currency-move-the-tip-of-the-iceberg-20150601-ghee7i
cio.com.au/article/582753/roundup-australian-banks-using-cryptocurrency-technology/
twitter.com/SFWRedditImages

>ranked #1 on Index of Freedom in the World
>can't buy stupid meme coins with your own money

Fuck Australia, their population is less than the state of California.

We’ve got Chinese, US, and Korean pumpers. Won’t hurt the crypto space at all

God I fucking hate being Australian.

I bought all my crypto already though but I want to get more during dips. Fuck.

Oh well I was gonna cash out overseas anyways.


>>ranked #1 on Index of Freedom in the World

Pretty sure we just paid someone off to get there. Australia is one of the least free nations in existence. You can't do anything here. Not even joking.

Look how ugly your gremlin conselor is.

The average no coiner here is randomly throwing 7-15k of savings on coins like ripple and btc. I watched locally as aussies jumped on before shit really started moving past 12-13k, You'd be suprised, also - this could happen to you

It basically means they don't want anything to do with it.

I see no problems with using local bitcoins to buy/sell.

There's also a bunch of companies you can go through. This is just bait, no one gives a fuck about kiwibank

I guess you responded by letting them know you're changing banks

(((Freedom)))

Fuck off /pol/

NAB (national australia bank) is also doing this or is making it very difficult to buy

The banks are most likely doing it to protect their dull consumers from pump and dump scams in the crypto market, or equally so as an effort to avoid blame when something goes wrong. They may also have moral objections to it in that most purchases with cryptos are for illegal goods and services, ignoring the actual trading and mining activities.

Freedom begins at private ownership of firearms.

yes, the banks are trying to protect the people. they truly are working class heroes

listen to yourself

>Australians can't even own airsoft guns or play paintball outside of heavily restricted licensed venues let alone get a real gun
>to get a real gun you have to jump through a million hoops, know a farmer, be able to use his property, pay the government lots of money, have your weapon stored in a safe bolted to the ground, have your ammor stored at a different location in a safe bolted to the ground, have to let cops do random inspections of your house whenever they want unannounced and under no circumstances are you ever allowed to use them in self defense
>and then you can only get a bolt action rifle or single shot shotgun

Fuck this cucked shithole nation. If my crypto holdings moon hard I am moving to the USA.

>Investment is only for the rich people
>We don't want you losing your money on scams
>But also you are free to gamble away literally everything at a casino or scratch offs

Don't be stupid. If that were the case gambling would be illegal. They literally just don't want the plebs getting rich off of investing.

I have had zero problems with NAB so far. I deposit into BTCMarkets all the time.

...

We'll be glad to have you. Frankly, we love Australians. They get all kinds of pussy over here. Avoid California - it sucks hardcore. It's nice to visit, but living there is hell.

bullshit. how? wheres your proof

also, bitcoin and crypto is classified as an asset in australia, not a currency or "money", so i don't see how banks could stop you buying it, the same as you could buy any other non-illegal asset.

>kiwi tranny/dyke telling you what you can do with your own money

Disgusting.

>tumblrdyke
the absolute state

I use coinspot a broker/exchange and I use NAB personally, so does my family and we have had both poli-payments and BPAY denied where in the past it wasnt a problem for me

I've used both BTCMarkets and CoinSpot with NAB (poli-payment) and haven't had any issues. How long ago did these issues start?

Also, there is a private group on facebook (crypto australia and crypto for blokes) with 5-20k members between them reporting similar issues with australian banks

as recently as btc going to 16k. just wait a few months and see how it plays out. your transactions might be labelled different

I doubt they give a shit about losing a potential tax or criminal liability

Which is fucking stupid because big australian banks see the potential with cryptos

afr.com/brand/chanticleer/cbas-crypto-currency-move-the-tip-of-the-iceberg-20150601-ghee7i

Shit really? I use commonwealth bank and haven't had any troubles. Though my last purchase was last Sunday on the 10th. Is this is new thing?

I buy from Coinbase. Also I buy ETH.

>as recently as btc going to 16k
Australian dollars? I have deposited many times since. Maybe you should talk to someone at NAB and tell them to pull their head in.

I use bankwest a subsidiary of CBA and Im fine too

Fuck these shit cunts mate. How can they tell us where we can spend our money?

stupid sjw bitch wont let us into crypto

they tell you how to do everything else, what is the difference?

there must be a reason why they're doing it, maybe so many people are pulling out of banks and buying up cryptos that they're scared

Shampoo isn't legal tender either but would they stop you using their bank card to buy a crate of 100 bottles and selling them down the road for a profit?

There is more going on behind the scenes as to why they don't want down underers having crypto.

I'm British but know from having lived in both places that companies often market new products, or test out new adverts in NZ and Oz before bringing them to the UK, USA or western Europe. They do this as those countries are fairly isolated both politically and geographically.

Maybe this is the same principle in action.

They're testing to how people react to being banned from using crypto then they'll try it out in bigger markets if people are passive and accepting.

You kiwis and aussies need to complain about this and demand free use of your money.

Old article, maybe worth a read
If you ever have to deal with your bank telling you, you cant use your money to buy meme money tell them other banks are on the record for being ok with it and you're going to move banks
cio.com.au/article/582753/roundup-australian-banks-using-cryptocurrency-technology/

You just reminded me I have a couple of these laying around as gifts. May aswell add them to the crypto stack, where accepts these for crypto purchases?

>banks
>moral objections
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
*breathes in
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Just double checked. Just deposited into BTCMarkets from NAB using POLi Payment without any issues.

I Use nab. Have never had a problem. Only had to call them once to verify my first bit trade Aus purchase

A few months ago I spent 1000 AUD on bitcoin on coinjar, and BankSA found it suspicious so they reversed the payment. Unfortunately for coinjar I already had taken my 0.2 BTC off the exchange.

this has happened with american banks as well. chase, wells fargo, bank of america. i've had issues with chase calling me about charges to coinbase. no transfers stopped yet but i can tell they don't like crypto related withdrawals or deposits.

Yeah no problems for me either. weird though I hope it's not a sign of times to come.

Fucking kek, free money.

I wonder if they'd let you buy again though after that happened.

No problems with ING, other than they've stopped with POLI payments. Did a bpay last thurs was in btcmarkets sat morning.

this is actually illegal afaik

a lot of exchanges or businesses doing crypto were dropped from their bank because of the AML angle. the problem is banks are supposed to perform due dilligence to an acceptable level by law. instead they are just dropping them as customers to save money. you could probably sue them. one of NZ's big exchanges got dropped by all the banks for this reason.

If this is real, I feel bad for you son. Sorry you live in a third-world country.

You guys got good health care and gun laws tho.

I really doubt this is real though. A bank can't stop me from spending $100K on beanie babies, it's my goddamn money.

I don't risk it. I do all my AUD dealings through Independent Reserve. No bank issues with them. I treat Coinjar as if they are seeking eternal vengeance, like gollum after bilbo baggins had made off with the ring.

>risk
>legal tender
what?
I can buy a fucking bigmac with my debit it has a garunteed 100% value loss and is not legal tender either. what the fuck?

Smart decision.

They say that you can't trade them from within your bank account. This is the same as it is everywhere. This doesn't mention not taking AUD or whatever from the exchange when you sell your bittycoin.

jesus fucking christ life is not a fantasy world you deluded faggot they don't give a SHIT about you or illegalities of crypto they just don't want you loosening their grasp on the people

thank fuck I dont plan on cashing out for at least 3 years

>How can they tell us where we can spend our money?
They already did, and you willingly agreed to it and surrendered your only means of stopping them

Decent bait I guess, 6/10

Just use Westpac bro.
Not ever Australian is with Westpac, but Westpac is with every Australian.

Have had literally zero issues with ANZ. It's easy to set up another bank account and transfer over, just do it and stop complaining

>moral objections
AAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHAAAHHHHHHHHHAHAHAHAHAHHAHHAHHA

t. Westpac employee

But I see lot of Australians joking on the internet all the time

You have got to be kidding. I knew Australia was bad but still...

*blocks your purchase*

Tough luck, kid

4chin is our only outlet brah why you think we talk so much shit

>state has concealed carry
feels free

hahahaha they suck so bad

Good. Now every bank has to do the same and people will maybe start using BTC directly instead of falling for the cashing out meme.

>using BTC

HAHAHAHHAHAHAHHAHAAA

Holy fuck, lol.

But seriously though, if that happens ETH is gonna moon hard.

Wells Fargo closed my account because I had a transfer from gemini. They sent a nice letter telling me that they do not want to support bitcoin transactions

kek

i cashed out a couple times from gemini and wells never gave me issues. how much did you withdraw?

Fucking Niggers, heaps of places around NZ use BTC. Fuck Kiwibank.

What (exactly) are NAB doing?

Banks on suicide watch! Yeah try stopping this revolution you bankster faggots

Wrong, Eth can't be used in the real world.

but Dash can


discoverdash com
BitCart io
dashforcenews com /dash-debit-cards/

pick your flavor, retard:

BCH - how are those empty blocks treating you

ETH - t. Blockchain that stalls from cats instead of payments

>$10 transactions on a good day with BTC
>compared to having to pump up your transaction fee from 14 cents to 40 cents with ETH on a bad day to do a 10 min transfer

>kiwibank

Is this a joke?

Just joined both groups, saw no mention except for that same Kiwi screenshot (which lacks context anyhow)

underrated

wells fargo didnt give a fuck about my coinbase purchases. they only blocked twice because i exceeded my daily limit one of the times and the other time was fraud protection since it was an international transaction.

how old was your account?

If you entrust your savings to an institution called "Kiwibank" you deserve everything that's coming to you.

What? they allow you to buy and sell other things that arent legal tenders, why is crypto unique

this

and holy shit that dyke tho

>kiwibank dont support trading in these types of currencies
>dont support
>dont

MAMA KNOWS BEST

NO YOU CAN'T BUY THOSE COINS, YOU NEED TO BUY 100k GENDER SQUIRREL DEGREES INSTEAD

Imagine how salty this feminazi cunthole is talking to white males all day about their crypto gains

Has anyone else noticed that every time there is a thread where people complain about banks and their crypto shenanigans that there's always like 3-5 dipshits that jump in to defend banks with a passion. I've seen this in absolutely every thread.

I wonder why this is happening.

I can still cash out, right?

Where the fuck do you people come from

Fuck off

What the fuck? How the fuck does the bank think it has any right to tell you what and you can and can't spend YOUR money on (as long as it's not illegal). I use commonwealth bank, hope this doesn't happen to me.

yay

I've been blocked by making POLI payments by Westpac on BTCMarkets. Happened since Saturday, anyone else having this?

How did they block it?

I was doing some arbitrage the other week via buying on coinbase and selling on BTC markets, and I got a text message from the bank asking if it was really me who made the transaction but they didn't block it.

why arent you doing bpay?