Massive confusion as Santander is forced to deny reports that they are blocking Coinbase deposits

A Reddit user caused a storm after claiming that Santander told him that they are not longer willing to deposit funds into Coinbase UK.  

In the outragious thread  the user claimed that the UK branch of the Spanish bank  informed him they will no longer be allowing their customers to deposit money to Coinbase. He then said they told him to use another bank and that they are worried about the amount of increased fraud related cases from the cryptocurrency exchange.  

The user then went on to explian it was someone in their complaints department who gave him the information. The post which is now pretty long then just descended into chaos as other users resorted to bank bashing and anti-establishment agendas.  

Once comfronted about the allegations Santander commented by saying “”We do not block payments to legitimate companies,” a spokesperson told The Block, although they did admit that “in certain circumstances we will refer payments for additional security checks, where we believe there may be a higher risk of fraud.”

It has been a massive week for the exchange who recently lost their faster depositing partnership with Barclays. According to some reports Barclays are worries about the exchanges recent tie up with UK start up ClearBank.