Cryptocurrency compensation v Standard Bank Accoun

squizzster

[apologies if I've made any etiquette boo boo's - this is my first ever post]


Hello Martin and all forum users,

I see in the news today an awful situation where a Cryptocurrency trader was 'forced at gunpoint to make bitcoin transfer'. And I understand this is probably not protected.

MY QUESTION IS:
What are my protections if an intruder forced me to make a bank transfer and set-up a new account at say gun point!!
Obviously I would say yes.... but would I get my money back?

What is the LEGAL position here?

Thank you,
Mark

Shakin_Steve

Similar:

https://forums.moneysavingexpert.com/discussion/5781992

squizzster

Similar yes....
But an ATM is perhaps a £250-£400 limit.
A bank transfer is totally unlimited.

Is there a LEGAL limit to my protection? Is it unlimited? It is a the banks digression?

Mark

antrobus

squizzster wrote: »

...

What is the LEGAL position here?

Insurance.

squizzster

So basically there is no protection. OK. Understood.

Mark

squizzster

Insurance... yes.. OK. Understood.

Thank you for that,
Mark

realaledrinker

Try thisismoney.co.uk for kindred spirits