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Sending fiat to exchange from Barclays Isle of Man

trek

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Oct 15, 2021
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I'm thinking of sending some fiat to FTX (crypto exchange) from my Barclays account in the Isle of Man. Do I risk some termination for doing so? I guess they are not keen on receiving withdrawals but not sure about sending wire transfers. Is there anyone with some experience with this? Any guesses?
 
I'm thinking of sending some fiat to FTX (crypto exchange) from my Barclays account in the Isle of Man. Do I risk some termination for doing so?

Have you read the terms and conditions you accepted when you opened the account? Does it say anything there about crypto?


I guess they are not keen on receiving withdrawals but not sure about sending wire transfers. Is there anyone with some experience with this?

Don't guess just ask them directly.
 
Never send direct from a bank, always use a EMI in the middle, and vice versa.

Terms and conditions on banks usually make you an unattractive customer, whereas terms and conditions on EMI's are different and more open to regulated/legally operating crypto exchanges.
Or send to a personal iban provided by an exchange, such as Nebeus, SwissBorg, Crypto.com
 
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I'm thinking of sending some fiat to FTX (crypto exchange) from my Barclays account in the Isle of Man. Do I risk some termination for doing so? I guess they are not keen on receiving withdrawals but not sure about sending wire transfers. Is there anyone with some experience with this? Any guesses?
Was is it difficult to open an account with Barclays in the Isle of Man? is it a personal or corporate account?
 
Was is it difficult to open an account with Barclays in the Isle of Man? is it a personal or corporate account?

It's easy. But Barclays do not open any longer for EU residents like yourself.
 
Don't guess just ask them directly.
I asked and they seem to be fine with any exchange except Binance.

Btw @trek do you reside on the IOM?
Yes, but I have a Barclays International account with an IoM sort code.
Was is it difficult to open an account with Barclays in the Isle of Man? is it a personal or corporate account?
It was easy and it is a personal account. Just look for the International account. Not sure if they still open such accounts, though.
 

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