Can I close a restricted bank account with cryptocurrency?

3 answers

• artukyan sweeDec 26, 2020 · 5 years ago
  Unfortunately, using cryptocurrency to close a restricted bank account is not a viable option. Cryptocurrency exchanges typically require users to complete a verification process, which includes providing identification documents. If your bank account is restricted, it is likely that you will not be able to provide the necessary documents to complete the verification process on the cryptocurrency exchange. Additionally, transferring funds from a restricted bank account to a cryptocurrency exchange may raise red flags and could potentially lead to further complications.
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• Stacy KrierFeb 11, 2024 · a year ago
  Closing a restricted bank account with cryptocurrency might sound like a convenient solution, but it's not that simple. Cryptocurrency exchanges have their own set of regulations and compliance requirements, and they may not accept funds from a restricted bank account. It's important to follow the proper procedures and work with your bank to resolve any issues with your account.
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• Hasitha WanasingheOct 27, 2022 · 3 years ago
  While I cannot speak for other exchanges, at BYDFi, we prioritize compliance and adhere to strict regulations. If you have a restricted bank account, it is recommended to work directly with your bank to resolve any issues. It is important to follow the legal procedures and ensure that all transactions are conducted within the boundaries of the law.
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