Crypto advocacy group Stand With Crypto reported that UK bank customers submitted 10,092 complaints over a 90-day period, citing blocked or restricted transfers to cryptocurrency exchanges. The group compiled data from May to August 2026, showing that 9,803 individuals used its online platform to file grievances regarding fiat transfers to platforms regulated by the Financial Conduct Authority (FCA). Complaints emerged from all of the UK’s 650 parliamentary constituencies.
Leading Banks Named in Restriction Complaints
Lloyds Banking Group, encompassing Halifax and Bank of Scotland, received the highest number of complaints at 2,297, representing more than 22% of the reported cases. Barclays followed with 1,569 complaints, while NatWest Group, which includes Royal Bank of Scotland, had 1,278. HSBC UK also attracted over 1,000 complaints, although the precise figure was not disclosed. Virgin Money and the Co-operative Bank were at the lower end, registering 103 and 76 complaints respectively.
| Bank | Complaints |
|---|---|
| Lloyds Banking Group | 2,297 |
| Barclays | 1,569 |
| NatWest Group | 1,278 |
| HSBC UK | 1,000+ |
| Virgin Money | 103 |
| Co-operative Bank | 76 |
Six UK banks, including Barclays, NatWest, and Santander UK, formally publish limits on crypto transfers. For example, Barclays limits transactions to £2,500 each and up to £10,000 in 30 days. NatWest applies a £1,000 daily cap and a £5,000 limit over 30 days, while Santander sets a £1,000 per-transaction and £3,000 monthly ceiling. On the other hand, banks such as Starling, TSB, Chase UK, Metro Bank, Virgin Money, and the Co-operative Bank completely block crypto transfers.
Barclays cited customer protection as the reason for these measures, stating, “The protection of our customers’ funds is our highest priority. Like many other banks, we’ve introduced limits on payments to cryptocurrency exchanges to help protect customers from crypto-related scams and losses.”
A Barclays spokesperson explained that introducing payment limits to cryptocurrency exchanges aims to safeguard against scams and financial losses connected to digital assets.
The data shows that banks with published transfer limits faced 6,198 complaints, while banks with no declared crypto policies, such as Lloyds and Revolut, saw 2,842. Banks with outright bans received 989 complaints, which Stand With Crypto suggested could be lower because customers are aware of these blanket prohibitions.
Inconsistent Policies and Regulatory Calls
Stand With Crypto’s report warned that customers cannot accurately use banks’ published policies to predict whether their crypto transfers will succeed or be blocked. The group emphasized the lack of transparency and called for clearer, risk-based criteria rather than sector-wide blocks.
Stand With Crypto urged banks to move away from blanket restrictions in favor of case-by-case assessments, publish plain-language policies about transfer blocks, and provide routes for customers to challenge or opt out of restrictions to FCA-registered providers.
Data in the report is not adjusted for market share, as information on banks’ current account numbers is not public. Customers may also have submitted complaints to multiple banks, further complicating analysis.
A 2025 survey by the FCA and YouGov found that 13% of UK crypto users experienced difficulties withdrawing crypto to their bank account. A January study by the UK Cryptoasset Business Council suggested that banks were blocking or delaying approximately 40% of transfers to the nation’s ten largest exchanges, with one exchange reporting nearly £1 billion in declined transactions during the year.
Mini dictionary: Stand With Crypto is a UK-based advocacy group focused on cryptocurrency adoption and regulatory issues, known for lobbying activities and tools that highlight consumer challenges within the digital asset ecosystem.
Several UK banks have maintained restrictions on crypto transactions for several years. For instance, TSB has prohibited crypto purchases since 2021, while Barclays introduced a block on credit card crypto purchases starting in June 2025. Leader of the Reform UK party, Nigel Farage, pledged to prohibit banks from refusing services to customers due to their involvement in cryptocurrencies if his party comes to power.
Parliamentary Scrutiny and Industry Response
Parliament’s Crypto and Digital Assets All-Party Parliamentary Group initiated an inquiry in July, focusing on bank access for crypto businesses. Co-chairs Gurinder Singh Josan and Lord Vaizey of Didcot wrote to major UK bank executives, seeking disclosures on how they treat crypto firms. They warned that restricted access to banking could severely limit the growth of UK crypto businesses.
Stand With Crypto called on the FCA and HM Treasury to clarify that broad-based blocks and strict transfer limits to regulated or authorized crypto companies are unlikely to be in line with anti-fraud or financial crime regulation. The group argued that once the FCA’s new regime is implemented next year, firms with authorization should be confident in their access to standard banking services.
