Why are there restrictions on payments to crypto exchanges?

We're seeing a growing number of customers who are falling victim to investment scams – and crypto exchanges are becoming a common tool used by scammers to divert money from the expected investment destination to themselves.

To help protect you and your money, payments that we reasonably believe are being made to crypto exchanges (based on information available to us at the time) will be limited to $10,000 each calendar month.

If you have any unused monthly limit, it won’t roll over on to the next calendar month.

If you have joint accounts, your limits apply to payments made from both your individual and joint accounts and cards. These limits aren't shared with the other account holder. They’ll have their own limits that are solely theirs and not shared with you.

If you reach this limit of $10,000 within a calendar month, your payments to crypto exchanges will be declined until the next calendar month. You should still be able to receive payments from crypto exchanges in your account during this time, however, keep in mind that they may also impose their own restrictions.