We’re stopping payments to Binance for your protection
We want to let you know that we’ll be stopping payments from cahoot accounts to Binance wherever possible. This follows the Financial Conduct Authority's (FCA) recent warning to consumers and is to help protect you from fraud. For now, we won’t be restricting payments from Binance into your account(s).
We'll continue to monitor the situation and let you know if anything changes.
Investment in crypto assets can be high risk
In recent months we've seen a large increase in customers in the UK becoming the victims of cryptocurrency fraud.
The FCA has also recently warned of the high risks associated with investment in crypto assets, and that money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.
We want to do everything we can to protect our customers and we feel that limiting payments to cryptocurrency exchanges is the best way to make sure your money stays safe.
Want to learn more?
Take a look at the FCA’s pages on cryptocurrency.