Virgin Money has joined Lloyds Banking Group in banning customers from buying Bitcoin and other digital currencies with their credit cards.
Virgin Money's spokesperson said: "Following a review of our policies, I can confirm customers will no longer be able to use their Virgin Money credit card to purchase crypto-currencies."
Like Lloyds, Virgin's ban only applies to its credit cards, not debit cards.
The value of Bitcoin fell a further 10.86% to $7,297.65 on Monday.
Like Lloyds, Virgin Money is concerned about customers running up large debts following a sharp fall in the value of digital currencies.
Over the weekend, several of the biggest issuers of credit cards in the US also banned customers from using their cards to buy digital currency.
The list of financial firms included Bank of America, Citigroup, JP Morgan, Capital One and Discover.
Lloyds' ban, starting on Monday, applies to its eight million credit card customers across Lloyds Bank, Bank of Scotland, Halifax and MBNA.
Lloyds said it would not be contacting its customers either digitally or through the post to inform customers about the change to its credit card policy. Customers will only be informed should they query a blocked crypto-currency credit card transaction.
|