I don’t know what the regulatory situation is, but last year there were several reports in the media (e.g. on SRF Espresso) that Yuh customers had fallen victim to phishing. The fraudsters then transferred money to crypto exchanges (which ones were not mentioned). I wouldn’t be surprised if some banks are now more restrictive when it comes to transfers to crypto exchanges.
It’s worth contacting the bank to check if you can lift the restriction.
No issue so far with WIR. Last transfer on Friday.
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I doubt they will make any exception, especially if they refers to internal compliance…
Was this your first one? I have not the same experience, but that was late 2025.
You’re not a criminal but a customer you should not feel guilty asking.
Until recently, I was placing manual orders. I then tried to set up a standing order, which I have since cancelled (I chose an alternative solution instead).
That is when I received the email mentioned above.
I do not believe I have done anything wrong. However, I find it problematic that reference is made to internal policies. As a client, how can I know what is permitted if such rules can change overnight without clear communication?
What I find funny in this, Kraken seems to be one of the more respectable exchanges in the crypto world and for what it’s worth some regulators seem to agree
Swissquote allows crypto transfer from Kraken though
I am going to see how it will play out during my next investment round. But no warnings no messages so far.
Might be but still money arriving from or being sent to an address in the British Virgin Islands raises quite a big red flag for most banks/institutions I believe.
From my experience since Kraken changed their address to this new “exotic” location my bank asked me some questions about what kind of income money this is (I sold some crypto and transferred it to my account and it wasn’t even such a big amount). They never had asked anything before…