I’m trying to open a bank account solely to purchase through coinbase/gdax. I have been using a credit card to make purchases and paying it off monthly but with my card set to expire, recent reclassification to a cash advance, wanting to make larger purchases and coinbase no longer accepting credit cards i need to link an account.
So i asked my local PNC bank if i could open a checking account to use for making purchases through coinbase. I was straight forward with my intention of wanting to purchase Bitcoin with this account as i didnt want any issues to pop up later. I was told they had never had been asked this question and would look into it. After two days i finally received a call saying that it had something to do with being money services and would not allow me to make any transactions involving coinbase.
I have also asked my local US bank and they stated no as well. Said they had recent seminars/training that lumped btc in with criminal activities and they would not allow it either.
I found this article listing crypto friendly banks and i am thinking about signing up for the Simple online banking account.
Does anyone use the Simple online Banking? If so what do you think and if not what on ramp are you currently using to get into crypto?
This is certainly a roadblock to on-boarding new users and a hindrance to those already in the space so lets create a list of viable options!