June 18 (Cointime) - NatWest, a major UK bank, has introduced a new policy requiring customers to give notice for cash withdrawals exceeding £2000, including those from cryptocurrency platforms.

Customers must provide documentation and explanation for their intended transactions, and the bank may decline transactions if not satisfied with the provided information. The bank claims the policy is to keep customers safe, but it has raised concerns about excessive scrutiny and the potential for stifling innovation. This policy follows NatWest's previous introduction of daily and monthly limits for cryptocurrency exchanges, citing concerns about crypto scams.