I have two crypto accounts, Luno and Swyftx, also use nabtrade. I go through all the normal banking channels to transfer my money between accounts, meaning everything is transparent and above board.
i wanted to consolidate my two crypto accounts and just use Swyftx, here's where NAB steps in.
I transferred the best part of my Luno holdings to my NAB account so i could then transfer it into Swyftx, later the next day i find without warning NAB locked my account, not just my crypto holdings i had transferred, but my whole account.
I had many hours on the phone to NAB trying to get an answer as to how this occurred, this went on for three days speaking to many untrained and uninterested staff.
on one occasion i spoke to one person for about an hour taking me on and off hold for the majority of that time, i asked to speak to someone who could help me and she revealed that she was working from home and could not transfer me.
I had two letters sent to NAB from luno to show them my account was legitimate, but everything fell on uninterested and unhelpful ears.
after three days, without any explanation or any notice they unblock my account.
I have requested information as to the legitimacy of there actions to completely block, and put on hold someone's account, and livelihood.
This is a huge warning to anyone using NAB to transfer money from crypto accounts, they block you without warning and give you no reason why.
Then like magic, days later your account is unblocked.
Are these big banks really that afraid of crypto?
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