After weeks of discussion I was just turned down to get my first mortgage because of my crypto transaction history
I said ”ok look I won’t do any crypto transactions at your bank then”
they said ”we are sorry but we can’t serve you with the knowledge of what you are doing at other banks”
they said ”we are sorry but we can’t serve you with the knowledge of what you are doing at other banks”
I’m usually a pretty privileged semi-white CIS male and this offends me
Note: ”crypto transaction history” isn’t meant to mean ”trading history”. What basically happened was that the bank asked me to set up a checking account + card with them as a part of the loan, then started asking questions about ”so uh what kind of transfers to you tend to make”
This had nothing to do with source of funds, source of income or anything to do with any specific coin or trading activity, just the idea that I’d be interacting with foreign crypto exchanges and/or make other out-of-the-ordinary international deposits/withdrawals
The reason explained was that this type of activity would lead to onerous reporting requirements and me offering to keep those sorts of activities isolated from the checking account they asked me to set up wasn’t a satisfactory option
US people can you please stop assuming this is about your country omfg
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