ABSA Declined Overseas Trading

[koeidels]

So I've purchased some BTC (not trying to flame up a thread here) overseas through a totally legit website. Got called by ABSA to confirm that it was me, and not some fraudulent transaction. Cool cool.

Really liked the site, made some pocket money, so when I wanted to do it again I go decilined. Checked balance in CC: more than enough $$ in there. So I contacted ABSA's fraud department:

ABSA: "ABSA does not condone gambling"
Me: It's not gambling, it's an echange.
ABSA: "ABSA does not condone gambling"
Me:"K bye"

On the one hand I'm glad that they are trying to look after me, but on the other hand I've got $$ I can afford to lose. It's not $$$$$'s.

Should I give ABSA the finger? Would, say Capitec, also look so well after me?

 

[Arthur]

If what you say is true and I were you I'd instantly take this up with ABSA management and then close my account in protest. What I decide to do with my money is not the bank's business and they absolutely cannot decline a payment because they morally disapprove of the vendors I deal with or dislike how I'm spending my money. Banks are not my moral guardian / parent / gatekeeper / nanny. If I choose to blow everything on gambling, booze and mistresses that's not the bank's business. Like all of us, they must of course conform to the law of the land, and SA still has some lousy (and morally unacceptable) controls on foreign payments. But the reason you say they gave is totally out of bounds and unacceptable. For obvious reasons.

Unless the real reason is something else...

 

[3WA]

“ABSA does not condone gambling”

Does that mean you can't use an ABSA card to buy chips at a casino?

 

[koeidels]

“ABSA does not condone gambling”

Does that mean you can't use an ABSA card to buy chips at a casino?

Or use absastockbrokers.co.za?

FFS

 

[cr@zydude]

“ABSA does not condone gambling”

Does that mean you can't use an ABSA card to buy chips at a casino?

Most banks either don't let you buy chips/credits on your credit card or make you pay interest on it as a cash transaction.

I think it's more likely that Absa doesn't allow gambling on their credit card than them not condoning it.

Some sites do get falsely flagged as gambling sites, Capitec won't let me buy from Origin.