Wells Fargo, a well-known traditional bank, does not allow its customers to make a purchase of cryptocurrency using their own savings.
Crypto ban from Wells Fargo
The discussion began on Twitter, when users complained that they could not use their Wells Fargo debit cards to make crypto-purchases in Coinbase and Cash applications.
Interesting in the section: Coinbase Cryptobusiness Exchange: an overview of the exchange platform
Soon, a Wells Fargo representative confirmed that the company no longer allows cryptocurrency related transactions.
This happened about a year after the bank banned the use of credit cards for crypto-purchases. Now, purchases of crypto, even using their own money are not allowed.
Some people on Twitter find this a bit hypocritical, considering that in other places you can still use the Wells Fargo card.
However, it seems that Wells Fargo is taking on too much, deciding what is best for its customers without their consent, in which situation the bank risks losing a large number of customers.
Wells Fargo bank informed clients about the prohibition of the use of personal funds for the purchase of crypto. Recall, on July 13, in anticipation of the hearing in the Congress of representatives of the company Facebook, a new bill appeared that could supposedly prohibit the release of the Libra payment system.
Editor: Godfrid Brower