HSBC Bank Australia has announced in a statement to their customers that they will be automatically declining all payments that they reasonably believe are being made to cryptocurrency exchanges, effective the 24th of July 2024.
Payments from cryptocurrency exchanges to HSBC accounts will not be affected.
HSBC has explained that this change has been made in response to an increase in scams.
What does this mean?
From the 24th of July 2024, HSBC customers will not be able to use their HSBC accounts to make payments to Swyftx. Affected customers who would like to make payments to Swyftx will need to find alternative methods to do so.
Please note that this post only relates to HSBC customers. Our other customers should otherwise be unaffected, subject to any holds, delays and limits from their bank.
What we are doing to combat scams
At Swyftx, we dedicate a considerable amount of time and resources to fighting fraud, scam and financial crime, with a strong focus on education.
You can check out Swyftx Learn to find a number of articles on security and how to further protect yourself online.
Find more information on scams & other security alerts via our latest scam page.
If you have any questions or concerns about the above new measures, please contact our dedicated Customer Support team.
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