Coinbase Announces They Will No Longer Accept Deposits from Nationwide Bank

Coinbase will no longer be accepting deposits from Nationwide bank. The move comes due to the bank’s SEPA processing being handled by German bank Commerzbank, who has a new companywide policy of not dealing with money related to Bitcoin.

The Coinbase website has announced that they will no longer be accepting deposits from Nationwide Bank. Nationwide’s line on events appears to be that it is their SEPA payment processing, handled by Germany’s Commerzbank who have been associated with a company-wide policy of refusing to deal with transactions related to Bitcoin and cryptocurrency.

Bitcointalk forum user micalith posted the message he received when trying to facilitate a transfer using Nationwide:

Nationwide Bank’s correspondent bank for SEPA transfers is Commerzbank – please note that Commerzbank has adopted an internal policy and no longer allows transfers related to Bitcoin.

Online Reception and Reports

 

Initial outrage was first stoked on Reddit where users reacted to the news with indignation and outright hostility alongside other users reporting that they had also faced problems when depositing from Nationwide Bank via SEPA, although others who used debit cards in the UK reported that their payments had been successful, at least in the past. Some users suggested that Nationwide Bank users should switch banks.

Similar reactions abound on Twitter as well: […]

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