Account limits.

[ozcopper]

I just got this email...

Dear Paul,

We're introducing new measures to help protect you from scams and fraud.

What you need to know

We may limit the amount you can pay to certain accounts or merchants, for example those we believe to be associated with cryptocurrency exchanges, to no more than $10,000 in total from all of your accounts each calendar month.

Visit our website to view the full details of these changes to our Electronic Banking Terms and Conditions and changes to our Transaction, Savings and Investment Account Terms and Conditions.

What this means for you

You don't need to do anything, these changes will come into effect 30 days from the date of this message.

We're here to help

For more information visit commbank.com.au/cryptocurrencypayments

Yours sincerely,
The CommBank Team

                       
                     

 

[STKR]

What a bunch of Nanny scumbags. Taking control by limiting freedoms...all in the name of "security".

This isn't about scams or crypto, it's about the message - Trickle feeding the masses with the idea of categorised spending limits, financial restrictions and reduced freedoms.

This $10,000 a month restriction will affect a very small percentage of the population. The majority will have no problem accepting this without any impact to their daily lives... But it's just as alarming as the bank blocking transaction for food, travel or fuel. This is just the beginning!

 

[66rounds]

Not surprising as many exchanges have been closing AUD Fiat off ramps for a while now.

 

[dragafem]

When the flu called "covid" started I told myself only using cash from now on.Probably used cards 5 times .Numerous times I walked away as they did not take my australian currency The problem is most even like minded people still opt to use cards :

The question is what is the solution and how to implement it?