NatWest Bank in the UK has set a daily limit of $1,200 for cryptocurrency payments

NatWest, following other UK banks, has implemented restrictions on customers making payments to cryptocurrency exchanges to protect against cryptocurrency-related crime. NatWest has set a daily limit of £1,000 ($1,218) and a 30-day limit of £5,000 ($6,090) on cryptocurrency payments. The bank cites a lack of understanding of cryptocurrency markets as a major factor leading to consumers losing £329 million in 2020. Other UK banks such as Nationwide and HSBC have also imposed restrictions on cryptocurrency purchases, such as preventing credit card use for purchases or limiting debit card purchases to £5,000 ($6,084) per day. These restrictions apply to debit card transactions and transfers made out of customer accounts, according to a NatWest spokesperson.