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COINTURK NEWS > Cryptocurrency News > Major Banks in the UK and US Impose Tough Limits on Crypto Transactions
Cryptocurrency News

Major Banks in the UK and US Impose Tough Limits on Crypto Transactions

In Brief

  • Traditional banks in the UK and US heavily restrict crypto transactions for most customers.

  • Most US banks only serve crypto to high-net-worth clients, limiting wider adoption.

  • Strict policies and uncertainty continue to keep digital assets at the margins of mainstream banking.

Fatih Uçar
Fatih Uçar 2 months ago
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Despite the global spread of cryptocurrencies, many traditional banks remain slow to fully embrace digital assets. Notably, there are stark differences between how leading banks in the United Kingdom and the United States approach crypto-related transactions, resulting in fragmented access for customers depending on their location and bank of choice.

Contents
UK Banks Chart Different Courses on Crypto ServicesTotal Bans at Some Major BanksUS Banks Maintain Tight Grip on Direct Crypto Access

UK Banks Chart Different Courses on Crypto Services

In the UK, banking giants are taking strikingly varied stances on cryptocurrency transactions. While institutions like Revolut and members of the Lloyds Group permit both bank transfers and card-based purchases of cryptocurrencies, a significant number of banks are opting for strict controls. For instance, Barclays and HSBC UK have imposed transaction ceilings, with Barclays enforcing a single-transaction cap of £2,500 and a rolling 30-day limit of £10,000. Similarly, Nationwide restricts daily transactions to a maximum of £5,000, while banks such as NatWest and Santander have adopted even tighter policies by implementing monthly limits on crypto-related activity.

Total Bans at Some Major Banks

Several prominent British banks—including Virgin Money, Metro Bank, Starling Bank, TSB, and Chase UK—have moved to outright prohibit all crypto transactions through both bank transfers and card payments. Customers of Wise face a nuanced restriction: they are barred from buying cryptocurrency via bank transfer but remain able to use card payments. This patchwork of policies underscores how UK banks are opting for rigorous internal risk controls, stopping well short of fully integrating crypto access into their financial services offerings.

US Banks Maintain Tight Grip on Direct Crypto Access

Across the Atlantic, American banks show similar reluctance toward direct engagement with digital asset markets. Among the 25 largest US banks, only a handful offer direct services for buying, selling, or storing Bitcoin. JP Morgan Chase has announced trading support for Bitcoin, yet custodial services remain unavailable. Citigroup is reportedly developing its own custody solution, though it is not yet operational. Meanwhile, institutions such as Wells Fargo, Goldman Sachs, and Morgan Stanley limit crypto trading options strictly to clients with substantial investment portfolios, leaving most retail customers excluded from direct access.

For regular customers at these US financial powerhouses, genuine access to crypto remains out of reach, particularly in terms of comprehensive custody solutions. The result is a banking sector that continues to keep retail clients at arm’s length from direct involvement in digital assets.

While these established banks serve vast customer bases and acknowledge the growing demand for digital asset services, they proceed with notable caution. In the meantime, cryptocurrency markets operate round-the-clock, and the accelerating adoption of spot Bitcoin ETFs and tokenization is quickly widening the divide between legacy institutions and innovative digital platforms.

Traditional banks usually justify such restrictive measures with reference to fraud prevention, regulatory uncertainty, and the protection of customers. However, these barriers not only limit direct participation but also introduce notable operational delays, often leaving users frustrated.

The disconnect between the banking system and the burgeoning digital asset ecosystem is becoming increasingly apparent, especially as institutional investment in cryptocurrencies gains pace. While crypto products are now listed and actively traded on major exchanges and debated at the highest levels, ordinary consumers still encounter significant obstacles when attempting to engage with digital assets through their bank accounts.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 20 February, 2026 - 10:40 pm 20 February, 2026 - 10:40 pm
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