All payments to cryptocurrency exchanges will be declined
From July 2024, HSBC is introducing a new layer of customer protection by automatically declining all payments to cryptocurrency exchanges.
Take me straight to
What are the changes?
From July 2024, if you try to make a transaction through HSBC to a cryptocurrency exchange, the transaction will automatically be declined.
You will see an error message, and the money will stay in your account.
Why are we making these changes?
Scams are the fastest-growing threat to customers. Scammers often use cryptocurrency exchanges so that funds transfers are difficult to recover.
We’ve made these changes to protect our customers in response to the increase in scams. We’re continually investing in our security capabilities and strengthening our systems to help protect our customers from evolving threats.
Frequently asked questions
You might also be interested in
Make smart and secure International transfers anywhere, any time with the HSBC Australia Mobile Banking App.
Learn about the most common frauds and scams to keep yourself and your money safe.
Keep yourself and your money safe by learning about different types of scams and frauds.