It is worth noting that there have been a few complaints about a declined transaction and also a NatWest customer representative reportedly claiming that the bank has a new policy. Customers can deposit to cryptocurrency exchanges and withdraw funds from these platforms seamlessly. NatWest is owned by RBS and based on feedback from customers, the bank allows credit and debit card crypto purchases. Given that Binance has also turned off the card feature, it would not be entirely right to label Barclays a non-crypto-friendly bank. Note: Following regulatory uncertainty around Binance's operations in the UK, Barclays has barred customers from making credit and debit card deposits to Binance. Overall, though, a handful of customers report being able to move crypto-related funds freely via their Barclays bank. In terms of cryptocurrency exchanges, we have heard of Barclays refusing deposits/withdrawals to and from some exchanges, and in some cases closing and/or freezing accounts. There is also a known issue with Coinbase SEPA deposits since 2018, although you won’t experience this with other exchanges.īarclays is one of the biggest investment banks in the UK that is particularly interested in cryptocurrencies and blockchain technology.Įven though Barclays canceled its partnership with Coinbase in August 2019, Brits can still purchase cryptocurrencies with their debit and credit cards in most cases.

So, we can describe them as crypto-friendly, barring a ban on credit card transactions. Nationwide supports debit card purchases and also lets customers withdraw or deposit freely to cryptocurrency exchange platforms. The other good thing is that there are no complaints about customers’ bank accounts being frozen for withdrawing funds from crypto exchanges or making wire transfers. We expect that over time, SCB will eventually let people at least use their debit cards to buy crypto. Standard Chartered Ventures (SCV), the investment arm of the bank, also recently announced plans for a cryptocurrency custody and trading desk. However, the bank has time and again reiterated that “crypto-assets” are here to stay. The position of Standard Chartered Bank (SCB) on this list is tricky because customers report that the bank currently does not allow the use of their debit and credit cards on cryptocurrency-related websites. But if you stick with popular ones like Coinbase and CEX.io, then there should be no hiccups. We cannot guarantee, however, that they’d let you use just about any exchange. You can use their credit or debit cards to buy crypto, and also withdraw or deposit to exchanges freely. RBS is one bank that many customers largely report having no issues with when dealing with cryptocurrency transactions. Now that we have a clear overview of how crypto-friendly banks operate, let’s go over a list of some that serve UK investors. Cash-out funds from your cryptocurrency investments.Complete wire transfers to cryptocurrency exchanges and similar entities.Use credit and debit cards that they issue to freely buy and sell crypto.What Are Crypto-Friendly Banks?Īs the name suggests, crypto-friendly banks are banks and financial institutions that freely let customers withdraw and deposit funds from their accounts to cryptocurrency-related platforms. First, though, let’s break down the term, in case you’re lost. In this article, we provide an updated list of crypto-friendly banks in the UK. But then, it is still best to know which banks, crypto investors, and traders can use freely without fearing the cops showing up at your door. Thankfully, the relationship between banks and the cryptocurrency industry has gotten better in the last few years. In the very early days of crypto, many UK investors had their bank accounts terminated and funds frozen, merely because they used them to transfer or withdraw money to or from a cryptocurrency exchange. Bitcoin and Banking: Will Both Ever Reconcile?.Challenger Banks That are Crypto-Friendly.The Best Crypto-Friendly Banks in the UK.

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