Bank of Montreal Canada (BMO) has blocked all cryptocurrency transactions effective March 1st

As a Canadian, my options for buying crypto through coinbase are limited. Debit card does not verify, wire transfer is impossible, and to use credit card you are charged $5 cash advance fee when purchasing crypto.

Coinbase recently increased my buy limit from $250/week to $1000/week, and today I attempted to buy the dip for the full $1000 and I got an email saying the transaction was cancelled by my bank. I called to inquire about it and the associate told me BMO has blocked all crypto purchases because of “fraudulent activity”. Needless to say this bank is losing a customer immediately.

What I’m wondering now is what my next step should be. My buying options are limited like I said, so I’d like to hear if any other Canadians have had more success than me in purchasing crypto.

Submitted March 11, 2018 at 03:55AM by Crezdonn http://ift.tt/2FrxIMB