Why are some crypto transactions blocked?
We’ve restricted transactions made to some crypto exchanges to protect you from fraud. If you try to make a PayID payment to one of these exchanges (through your ubank app or online banking), it’ll decline, and you’ll get an error message (“Couldn’t find the PayID”).
Fraudsters are using crypto exchanges to scam people as these marketplaces can be less regulated, transactions are harder to follow, and they allow for fast international and domestic money transfers. If you think you’ve been scammed on a crypto exchange, call us on 13 30 80 in Australia or +61 2 9070 0202 if you’re overseas. We’re available between 8am and 8pm Monday to Friday, and between 8am and 6pm on Saturday and Sunday (Sydney time).