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    Author Topic: Canadian bank not accepting money ( cash ) transfers form bitcoin exchanges ?  (Read 174 times)
    xcaret (OP)
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    January 09, 2021, 12:38:24 AM
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    I'm a  Canadian ,and was trying to get cash for my partial bit coin. I was thinking since the BC. exchanges were in other cities ,and I didn't plan on driving there , I googled " which Canadian banks deal with bit coin exchanges"
    This is what I found.

      Canadian banks are not taking to the cryptocurrency craze. Just days ago, BMO Financial Group (the Bank of Montreal) announced that it would ban its credit and debit card customers from participating in cryptocurrency purchases with their cards. This makes Bank of Montreal the latest Canadian financial institution to make a move against the digital currency trend, according to decentralpost.com. Canadian investors looking to buy cryptocurrencies are increasingly forced to look to a limited range of options to facilitate their purchases.

    Major Canadian Banks Ban Transactions
    Bank of Montreal is only the most recent major Canadian bank to issue a ban for its customers. Last month, Toronto Dominion (TD Bank) blocked its customers from buying digital currencies. Recently, Royal Bank of Canada (RBC), the country's second-largest bank by assets, determined that it would allow cryptocurrency transactions only "in limited circumstances," although it did not ban digital currency purchases for its users outright.

    I also found where most major credit cards block transactions to bit coin exchanges. MNBA credit cards are blocked completely I read. 
    If a person goes to sell bitcoin and hopes to get cash from his investment ,how is he to get cash ? I'm only talking about Canada .
    I also  understand   Bank of  America has the same policy .
    several years ago I sold several bit coin , but there was no KYC or Fintrac to contend with .

    How do all you folks convert your bit coin into spendable cash ?   
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