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Switzerland's Fourth Largest Bank ZKB Launches Bitcoin Trading
Published
2 months agoon
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adminZürcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, has begun offering its clients Bitcoin and crypto trading and custody services. With over $290 billion in assets under management, ZKB provides services to retail, corporate, and institutional clients.
JUST IN: 🇨🇭$290 billion Zurich Cantonal Bank launches #Bitcoin and crypto offerings. pic.twitter.com/ILUTSHWn8V
— Bitcoin Magazine (@BitcoinMagazine) September 4, 2024
ZKB now allows clients to trade and hold Bitcoin and crypto through its mobile app, online banking, and traditional channels. The bank partnered with Deutsche Börse-owned Crypto Finance AG for brokerage services and developed its own custody solution.
The move reflects the country’s openness to Bitcoin, and cements ZKB as one of the largest mainstream financial institutions to embrace Bitcoin. Switzerland has taken a relatively positive stance on Bitcoin and crypto, including the Swiss National Bank, revealing it held shares in MicroStrategy.
The launch comes as more major financial players adopt Bitcoin and crypto offerings amid Bitcoin’s surge in legitimacy. In the U.S., the successful debut of Bitcoin ETFs has accelerated institutional adoption. ZKB’s move may pressure other Swiss and European banks to provide Bitcoin services.
Banks worldwide, such as Hong Kong’s Futu and Standard Chartered’s Mox, have also recently launched Bitcoin and Bitcoin ETFs trading. This growing trend shows that traditional finance is increasingly embracing Bitcoin.
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bank
$18,883 Drained From Wells Fargo Account, Bank Says Reimbursement Not Happening, Customer Says She’s Leaving
Published
5 days agoon
November 2, 2024By
adminA Wells Fargo customer says she’s done with the bank after an impostor posing as the lender drained $18,883 from her account.
Colorado resident Melanie Sponselee says she received an alert on her phone that appeared to be from Wells Fargo asking if she had made a large transaction, reports the NBC-affiliated news station 9News.
She replied “no,” and immediately received a phone call from someone pretending to be with the bank, claiming her accounts were compromised and that they would help her open a new one.
After talking with the scammers, Sponselee says she quickly began to worry she was being duped and raced to Wells Fargo.
“There’s a branch down the street from my house. I got on the phone, got in my car, five minutes later after I got off the phone, I walked into the branch. They were like – oh, I’m sorry. We don’t have an appointment until 1pm.
Also, on the way to Wells Fargo, I called the bank five times, and every time I tried to ask for help the call kept getting dropped. That happened six times.”
Ultimately, the scammers stole $18,883 via wire transfer. Wells Fargo contacted the corresponding bank and says it clawed back $3,300.
The bank refuses to refund the rest.
“My expectations would have been, when I asked for help, to immediately help me. Immediately. Take it seriously.
And also, that they would protect me, that they would back me up. They would fix it.”
When asked about its decision to not reimburse, Wells Fargo repeated what it told Sponselee – wire transfers are usually irreversible, even if a customer reports the crime quickly.
The bank has declined to answer specific questions about Sponselee’s case.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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bank
FV Bank and Visa launch new cards to merge crypto and USD
Published
1 week agoon
October 28, 2024By
adminFV Bank and Visa have partnered to introduce new debit and corporate expense cards, which were announced at Money 20/20 in Las Vegas.
FV Bank’s new Visa cards let customers spend fiat and digital assets globally, marking a first in integrated banking and crypto solutions for individuals and businesses.
According to the bank, these cards will allow FV Bank customers, both in the U.S. and internationally, to access and spend funds from their traditional USD and digital asset balances, offering global payment options at millions of locations.
Fiat or crypto
With these cards, FV Bank clients can spend or withdraw cash from their bank accounts, either through traditional funds or by converting digital assets such as Bitcoin (BTC), Ethereum (ETH) and stablecoins like USDC (USDC).
This means users with cryptocurrency held in FV Bank’s custody accounts can now instantly convert and use their assets in real-world transactions. The bank’s principal Visa membership also ensures cardholders have access to various payment methods, including tap-to-pay, chip, and magstripe.
Corporate clients benefit from expense cards that allow companies to set spending limits, authorize specific users, and track expenses in real time, all manageable via FV Bank’s app.
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bank
Billion-Dollar Bank Refuses To Reimburse Customer After $10,000 Stolen From Account – Until the Media Gets Involved: Report
Published
3 weeks agoon
October 16, 2024By
adminAmerica’s 20th-largest bank by total assets is accused of refusing to reimburse a customer who lost money to a scammer impersonating the lender.
It started when Thomas McConnell’s wife received a text message claiming to be from USAA asking her to verify a credit card purchase, reports Fox San Antonio.
“After responding ‘no’ she did not make the charge, she immediately got a call from someone she thought worked at USAA. ‘On the caller ID it said USAA,’ McConnell recounted. He says his wife was asked to pass along sensitive account information. Thinking she was talking to a USAA agent, she did.
When she checked her account, and did not see a pending charge, she called USAA to tell them about the fraud alert. ‘And they said well that’s not us,’ McConnell said. It was in that moment she knew she’d been tricked.”
According to the report, the McConnells’ lost approximately $10,000 after about half the amount was transferred from out of their checking account while $5,600 was charged to their USAA credit card.
Fox San Antonio reports that the McConnells neither received an alert on the unusual transaction nor that their credit card had been used.
After the incident, which occurred in August of 2022, Thomas McConnell called USAA several times trying to get his money back but without any success.
According to Fox San Antonio, the McConnells had to borrow from family members to help with their living expenses and they continued to pay off the interest on the credit card charge.
However, Thomas McConnell recently decided to turn to Fox San Antonio’s The Problem Solver for help, and the couple now has their funds back.
The bank has also returned the interest the McConnells were forced to pay throughout the ordeal.
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