Credit union declined me for new account since I told them I wanted to buy crypto for peptides
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A few months ago, I started using a peptide that originates in China but I purchased it through US reseller who accepted Venmo. Then I learned about the Grey market for peptides and ordering directly from China is much more affordable. Vendors all require crypto for payment. I’ve never used cryptocurrency. I’ve been reading about using it and looking at getting the Kraken app. My husband is nervous about using our joint checking account to transfer funds to Kraken, so I went to a local credit union to make my own account for this purpose. I asked about Plaid and the ability to transfer through Plaid to Krauen. The bank teller said they utilize Plaid but she wondered if I was getting scammed by some sort of crypto scam. I told her what I intended to purchase with just a few hundred USD. She spoke to her branch manager and told her what I was intending to use cryptocurrency for with Chinese vendors. They said that they appreciated my honesty but would be putting their credit union at risk if I got scammed and wanted to get my money back from the credit union. I told them that I completely understood that funds sent as cryptocurrency cannot be retrieved if a vendor was not legitimate and I was scammed. She said that they have served other customers who have been scammed by cryptocurrency to retrieve funds, and because she knew what I was intending to use my funds fir vendors in China, she did not feel comfortable opening an account for me. She stood up from the desk and showed me the door. I said “so I can’t ever open an account here?” and she said that I “could,” but not with them knowing it is for this crypto purpose. I am so confused how a US financial institution would deny someone an account who plans to use funds to transfer to a crypto wallet.
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