Bank of Valletta Just Threw Cold Water Over My Crypto Ambitions

in #bank-interference7 years ago (edited)


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Earlier today I received a phone call from a surprising source.

A customer service representative from my bank was calling me to deliver a most unwelcome message.

Clearly on auto-pilot, I was shocked to hear her tell me that Bank of Valletta would not be processing the second payment that I had submitted to kraken.com, as such was a violation of their "Customer Acceptance Policy" and that I could review such policy from the bov.com website. All efforts to get any more information out of her were met with more useless circular suggestions to view the website - and so after getting the name of the messenger, I got online to check.


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Searching for the policy document itself was predictably no easy task and I had to resort to Google to search for it. It was with a growing sense of disgust that I found that it was merely a front for its "Prevention of Money Laundering & Funding of Terrorism Policy" statement.

Digging a little deeper I found via the media that this reflected a very recent revision to Bank of Valletta's policy on cryptocurrency exchanges - with a lack of "risk appetite" apparently being the motivator.

This leaves me more than a little frustrated (in crypto terms - I am but a hatchling).


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I 'could' shift over to HSBC - but that bank has so repeatedly shown itself to have a bad attitude towards its customers that I'm frankly surprised that they haven't already made a jerk-paragon move like this.

I could look into opening an account in a bank in another EU country for the specific purpose of funneling money from my 'risk averse' bank to a more promising intermediary before moving them to the exchange. However this would involve twice the transfer charges and delays.

A third possibility would be opening an account with the same bank as the exchange uses - and this might reduce the whole double-charges and delays thing. Whether such would pose significant inconveniences - I do not know - but I do know that I am not going to permit my bank, of all things, to bully me out of participation.


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On the bright side I did manage to keep my cool and felt indirectly inspired to post a short creative writing piece linked below. :cP

Any comments, advice or feedback are welcome. Also, if you found this post interesting and would like to share this with your followers and friends then a resteem is always appreciated.

Sincerely,

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Try Papaya, they are in

Thank you kindly for the suggestion @vuk.

I am still trying to figure out which way I'll be going and so I'll be looking into it. :cP

good post Friends @bijoy123

Hey Bijoy - consider clicking upvote for Pathforger's 'good post'

Thanks @ecoinstant. ^_^ He read and replied to this less than a minute following posting - a reply that is clearly a copy-paste similarity with other comments he posted around the same time.

Naturally I ignore them. ^_^

Thank you for your up-vote and for stopping by. :c)

Man your posts are so good and life so busy sometimes that I end up with more than one of your posts open in a tab on my browser. At least I normally get the upvotes in on time ;p

I think we think about a lot of the same issues, and I always want to leave a thoughtful or even a rhyming comment on your posts. Keep up the great work friend its always a pleasure to see something new from you and I really mean that.

Again you surprise me with the high praise that you shower upon me. :c)

That any of my posts spend any appreciable amount of time in a tab in your browser means that I'm causing you to think - and that in itself is a victory. ^_^

Thank you again and I hope to not only continue doing so but also to (finally) take a look through your recent materials. :c)

Take care!