Anyone ever used Coinbase with Monzo?

I’ve been using Coinbase which makes it really easy and safe to buy, sell, and store digital currency (like Bitcoin).

Was just wondering if anyone had used Monzo to deposit / withdraw from it?

There’s plenty of people on the forum who’ve reported various positive and negative aspects of using a variety of different coin wallets with Monzo.

The main point to remember is that for any bank, Monzo included, facilitating crypto transactions poses an extreme risk to the bank because of the high possibility that the funds may used to launder criminal profits.

Monzo have said on a few occasions they don’t take any issue with it, however if I were you and transacting like this with any bank I would wholly expect that my account would be blocked for review to confirm the source of the funding etc. so I’d ensure you have very clear and accurate documentation proving how you sourced the funds through legitimate means. That way when you do (somewhat inevitably) experience any bank asking you to explain or provide evidence to meet their anti-money laundering responsibilities you are able to do so.

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Thanks TTJJ, there’s some very valid points there :+1:

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