It’s no longer news that the world is fast shifting from hard currency and centralised finance to digital currency and Defi. Still, not all financial institutions have embraced cryptocurrency, and the case isn’t any different in the UK. If you’re affiliated with crypto in any way, these crypto-friendly banks in the UK are recommended to avoid getting flagged.
What Are Crypto-Friendly Banks?
Crypto-Friendly Banks allow customers to connect and dabble in the crypto world without consequences. These banks support crypto trading, meaning you can buy, sell, and store digital assets with funds in your bank account.
A crypto-friendly bank allows customers to:
- Use credit or debit cards to perform crypto transactions
- Transfer funds directly to crypto exchanges or receive payment via similar sources
- Withdraw crypto money as hard currency
Crypto-friendly banks bridge the gap between traditional and digital banking. Here are the best crypto-friendly banks in the UK.
Top 5 Crypto-Friendly Banks in the UK
1. Nationwide
Nationwide supports card crypto purchases and also allows customers to deposit or withdraw freely from crypto exchange platforms. Established in 1884, the bank is one of the most renowned in the UK.
Initially, customers could use both credit and debit cards for crypto purchases. However, the bank later limited this feature to debit cards alone, alongside a daily purchase limit of £5,000.
These restrictions were imposed as a way to minimise losses among customers and also prevent fraud.
Downsides to Using Nationwide Bank
- For some reason, Nationwide Bank has always had issues with Coinbase. Customers have previously reported losing money after directly depositing their Coinbase account. However, this never happens with other crypto exchanges.
- The Binance platform has also been blacklisted for card transfers. This means payments to the Binance platform are blocked, though you can withdraw from Binance to your account.
2. Royal Bank of Scotland
Established in 1727, the Royal Bank of Scotland is one of the oldest banks in Scotland and the UK. It is a subsidiary of Natwest Group and offers diverse financial services, including crypto.
The bank allows customers to transfer money to crypto exchanges via direct bank transfers and credit or debit cards. It also has a strong security system and is heavily sensitised against fraud, explaining why customers are only advised to trade on reputable exchanges.
Customers who use RBS (Royal Bank of Scotland) claim to experience faster payments, and there have been reports that the bank may soon launch its cryptocurrency.
Downsides of Using RBS
The bank flags lesser-known crypto exchanges as high-risk, preventing customers from trading on those platforms. Transactions are also capped at £5,000 per month and £1,000 per day.
3. Barclays
Barclays is one of the biggest banks in the UK. However, its unique interest in cryptocurrency and blockchain technology sets it apart for crypto investors. The bank has participated in investments and fundraising for crypto-related projects several times.
But more importantly, the bank allows users to trade crypto via regulated cryptocurrency exchanges. For instance, you could use your debit card to fund a third-party crypto exchange platform and trade as you wish.
Downsides to Using Barclays
- Just like Nationwide, the Binance exchange is banned from Barclays transfers.
- The bank doesn’t provide direct crypto investment services.
4. Standard Chartered Bank
Standard Chartered Bank has always openly welcomed crypto assets. From Bitcoin’s beginnings to the present, the bank still offers services for crypto trading and storage. Customers of this bank hardly ever complain of frozen accounts or failed wire transfers.
As of 2025, customers are permitted to carry out spot trading on popular assets like Bitcoin and Ethereum. The bank employs high security for crypto transactions and has multiple partnerships and licenses that help streamline its services.
Downsides to Using Standard Chartered Bank
Crypto-Friendly
The major downside of Standard Chartered Bank is that it does not allow the direct purchase of crypto assets using bank debit or credit cards. You can usually only wire transfer your funds to crypto exchanges and transact there.
5. Natwest
Officially known as the National Westminster Bank Plc, Natwest has won the hearts of cryptocurrency enthusiasts in the UK. Established in 1968, the bank has over 500 branches and over 7.5 million customers.
They’re such a good option because they allow crypto purchases using their debit and credit cards. Customers can also easily make direct deposits and withdrawals to and from crypto exchanges.
Downsides to Using Natwest
- Although Natwest was a prime crypto-friendly bank during the early crypto boom, they later developed a few policies to cut back on crypto scams.
- Currently, the bank only allows customers to trade professionally with low-risk exchanges. Even so, there’s a daily cap of £1,000.
- There have been a few reported issues with declined transactions from Natwest customers.
How Do I Know Which Crypto-Friendly Bank Is Best for Me?
The banks listed here offer crypto investors an easy way to transact. To know which crypto-friendly bank is best, consider your priorities first. Factors like storage of assets, compatibility with multiple crypto exchanges, and debit/credit card integration will determine which bank you should pick as a crypto trader/investor.
FAQs
What Are the Best Online Crypto-Friendly Banks in the UK?
Some of the best online crypto-friendly banks in the UK include Revolut, Wirex, Lloyd’s Bank and Monzo. These banks allow seamless crypto transactions and customers to trade directly using virtual credit and debit cards. They usually offer their services through bank apps.
Which UK Banks Are Not Crypto-Friendly?
According to statistics, about 47% of UK Banks are not crypto-friendly. This list includes HSBC, Santander, TSB, Nordic Bank, Capital One Bank, and Wells Fargo. These banks block access to crypto exchanges or investments.
