Bitcoin, Cryptocurrency And Blockchain News

Debit Card Only: USAA Ban Credit Card Crypto Purchases


Users on Reddit are reporting receiving emails from USAA, saying that it is restricting purchases of crypto to debit cards only. The news is being reported on r/cryptocurrency, with a screenshot of the email:

The United Services Automobile Association are a Texas-based financial services group, with a revenue of $30 billion. Assuming that the email is genuine, this stands to affect thousands of customers. Needless to say, there were mixed reactions on Reddit.

HCS8B said:

The “to protect our members” statement is so disgustingly disingenuous.

They have no problem giving you a credit card cash advance in a casino ATM machine but you can’t use your actual funds (debit) to invest into cryptocurrencies with actual potential?

I wish I could have an actual bank executive tell me that to my face and see how tongue tied they would be if these inconsistencies were brought up.

We’ll give you more information on as this story develops.

Do you think that credit card purchases of crypto should be blanket banned? Let us know your thoughts.