UK Banks Restricting Crypto Transfers: 10,092 Customer Complaints Filed

Major UK Banks Face Customer Complaints Over Cryptocurrency Transfer Restrictions

According to an October 2026 report by Stand with Crypto UK shared with crypto.news, 9,803 individuals submitted 10,092 complaints over a 90-day period between May and August after facing difficulties transferring money to crypto platforms.

The complaints span all 650 UK parliamentary constituencies, highlighting how widespread the issue has become for retail crypto investors and traders.

Which Banks Are Restricting Crypto?

Lloyds Banking Group received the most complaints at 2,297, including those involving Halifax and Bank of Scotland customers, followed by Barclays with 1,569 and NatWest Group (including Royal Bank of Scotland) with 1,278. HSBC UK was the fourth bank to receive more than 1,000 complaints during the period.

Other banks named in the report included Monzo, Santander UK, Nationwide, Revolut, Starling Bank, TSB and Chase UK, while Virgin Money and Co-operative Bank received the fewest complaints at 103 and 76 respectively.

What Restrictions Are Actually in Place?

The complaints covered a range of restrictions on crypto-related payments, from banks imposing daily and monthly transaction limits to providers blocking transfers to cryptocurrency platforms altogether.

Barclays and HSBC UK allow customers to transfer up to £2,500 per transaction to cryptocurrency platforms, with a maximum limit of £10,000 over a 30-day period. NatWest allows no more than £1,000 per day and £5,000 over 30 days. Santander caps individual transactions at £1,000 with a monthly limit of £3,000. Monzo allows crypto-related transfers of up to £5,000 over 30 days, while Nationwide imposes a daily limit of £1,000.

Six banking providers examined in the report, including Starling Bank, TSB, Chase UK, Metro Bank, Virgin Money and Co-operative Bank, were listed as imposing outright bans on crypto-related transfers.

Lloyds and Revolut didn’t officially announce any restrictions, but customers of both providers still reported difficulties completing transfers.

What Stand with Crypto UK Is Asking For

Stand with Crypto has called on banks to replace blanket bans and rigid payment limits with controls based on individual customer and transaction risks, and urged banks to clearly explain when and why crypto-related transfers could be blocked or restricted.

The organization also recommended that customers be given a proper way to challenge such decisions or request exemptions when transferring money to FCA-registered or authorized platforms.

Why This Matters for UK Traders

The dispute comes as the FCA has opened its crypto authorization process ahead of a new regulatory framework. The FCA opened applications for the new crypto regulatory framework on September 30, 2026, and firms have until February 28, 2027, to apply if they want to qualify for transitional arrangements.

However, the new rules do not require retail banks to process payments to cryptocurrency exchanges, meaning customers could continue facing restrictions depending on their bank’s policies even after the new framework takes effect.

If you bank with one of these providers, keep records of any blocked transactions and contact your bank’s customer service for clarity on their specific policies before attempting transfers to crypto platforms.