Warning received from DBS Bank against virtual currency

Deal Cadet

Dear Customer,

Thank you making us the bank of your choice.

We would like to take this opportunity to caution you of the risks associated with virtual currencies.

The Reserve Bank of India (RBI) has directed regulated entities not to deal in virtual currencies or provide services for facilitating any person or entity to deal with or settle virtual currencies. Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges, dealing with them and transferring/receiving money in accounts relating to purchase/sale of virtual currencies.

In view of the same, kindly do not use your DBS Bank account or Debit Card for the purchase or any kind of dealing of virtual currencies. In case any transactions dealing with virtual currencies are observed in your account, we will have to close the account immediately wihout any notice.

Please reach out to us in case of any queries.

1 Comment  |  
2 Dimers
Deal Cadet

How did they know u r using virtual currency. In india we are using p2p transaction of money