Coinfloor UK banking changes

[TheQuin]

I received the email below this morning. Does anyone know what is behind this? Are they having problems with regulators or is there more to it?

Dear Customer,
From the beginning of May, Coinfloor UK will change the process for handling fiat deposits and withdrawals.

Going forward, please ensure that you always check the latest instructions on the DEPOSIT or WITHDRAWAL pages prior to sending any deposit or withdrawal of fiat currencies as we will be using multiple banks and financial providers going forward and these instructions could change regularly.

During the transition to the new process, there may be some disruption to our normal transaction processing times. Please rest assured that these changes are being rolled out to ensure a more reliable service going forward.

Thank you in advance for your patience.

Coinfloor Team
Coinfloor Limited - Trade with confidence.

[LeGaulois]

It's the typical scenario when the banking partner kicks you out and don't want to make any more business with you. Most don't anticipate this scenario and then companies have to find new partners able to accept (what they call) the risks to deal with cryptos

[Hamphser]

It's the typical scenario when the banking partner kicks you out and don't want to make any more business with you. Most don't anticipate this scenario and then companies have to find new partners able to accept (what they call) the risks to deal with cryptos

This would probably the scenario which if banking sector would make already some issues or such changes they might not able to say directly but its quite understandable that they dont need you anymore.Normally crypto related sites would definitely find another partner into their service thats why they do sent out this email and telling such transition might really give some changes.The good thing here is that they do make some announcement rather than nothing at all.

[LeGaulois]

It's the typical scenario when the banking partner kicks you out and don't want to make any more business with you. Most don't anticipate this scenario and then companies have to find new partners able to accept (what they call) the risks to deal with cryptos

This would probably the scenario which if banking sector would make already some issues or such changes they might not able to say directly but its quite understandable that they dont need you anymore.Normally crypto related sites would definitely find another partner into their service thats why they do sent out this email and telling such transition might really give some changes.The good thing here is that they do make some announcement rather than nothing at all.

It's for their own interest to make this kind of announcement otherwise people could start to post everywhere on the web that the site is now scamming. This can escalate quickly, especially with crypto businesses and then it's a pain then to clean up the reputation of the company ^^
I have seen similar despite the company is huge