While it isn’t built specifically for crypto businesses, PayPal offers a reliable, widely trusted platform with a straightforward, no-frills payment approach. We contacted them and they confirmed that their customers can usually deposit funds to FCA-registered crypto exchanges. A crypto-friendly bank should allow you to use the credit and debit cards they issue for buying and selling cryptocurrencies. In the early days of cryptocurrency, many UK investors faced account closures and frozen funds simply because they used their bank accounts for crypto-related transactions. If you are interested in investing in crypto, beyond finding a crypto-friendly bank, you should also consider which crypto exchange to use.
- But smaller digital assets — like Dogecoin — have also proven popular.
- UK users can connect their wallets (e.g., MetaMask or Crypto.com DeFi Wallet) to Uniswap for full access to new and experimental tokens.
- It allows its customers to make payments to crypto exchanges using their debit card or current account, but credit card payments are restricted.
- However, there are no known issues when paying from a Nationwide account or sending transactions from a cryptocurrency exchange into customers’ accounts in the UK.
Security
Cashaa is worth considering if you’re focused on crypto payments and want a fully integrated bank with crypto transactions. It’s a niche platform, but it’s great for businesses that want to ensure their banking and crypto operations are closely aligned. If you spend any time on online forums, you may see that despite bank policies, some crypto enthusiasts say that they transfer money to crypto exchanges all the time without limits. This goes against what the bank says publicly about what its policy is.
Moon Banking helps you discover which banks welcome digital asset transactions and which ones don’t. Our community shares real experiences to navigate the sometimes challenging relationship between traditional banking and digital currencies. Crypto cards are helping tear down the barriers between digital assets and fiat currencies — allowing the likes of Bitcoin and Ether to be used for everyday purchases. However, some argue that these coins are too volatile to be used as a medium of exchange. Losing a private key can mean digital assets are irretrievable forever, list of crypto friendly banks in the uk and that’s why many crypto exchanges look after coins on their customer’s behalf. Monzo allows its customers to make a bank transfer of up to £10,000 a day to crypto exchanges, and this limit is refreshed every 24 hours.
The Co-op Bank is definitely one of the more crypto-friendly UK banks. Although Co-op does not have an official stance on crypto-related assets, it has certainly not done anything to oppose them. According to customer reports, both credit and debit cards can be used to deposit funds on crypto exchanges. Additionally, very few have run into any problems while trying to do so. While the bank might put a hold on some transactions from time to time, this is only a preventative measure. When it comes to accepting cryptocurrencies, Barclays supports crypto transactions on debit cards to all major platforms and exchanges, expected Coinbase and Binance.
What is a cryptocurrency exchange?
However, we have used and would recommend Revolut as a gateway to deposit and withdraw funds to and from crypto exchanges. These banks often offer wallets to store, manage, and transfer digital assets directly from your account. For businesses, PayPal is more about payment processing than crypto trading.
Why are banks afraid of crypto and bitcoin?
Revolut still leads the way — not just because they offer in-app crypto services, but because their stance is clear, and they don’t make you jump through hoops. Between the in-app crypto features, smooth transfers to exchanges, and responsive support, it’s been the most reliable option in my experience. The only bank I’ve used that offers crypto trading inside the app is Revolut. It’s convenient since you can buy, hold, or sell a handful of major cryptocurrencies like Bitcoin, Ethereum, and a few altcoins right from your mobile banking screen. If you’re looking for a quick way to get exposure without signing up for a separate exchange, it’s a decent option.
Best UK Banks for Crypto Users in 2025
Note, they have banned business account holders who accept payment for goods and services since April 2021. While it doesn’t offer cryptocurrency trading, users can link their bank accounts to crypto exchanges. This lets them see crypto balances in the Monzo app alongside regular transactions. The bank also supports faster payments and direct debits to crypto exchanges, making fund management simple. While mainly a credit provider, Capital One does offer many other banking services to its customers.
It helps set up Bitcoin payment systems and makes converting Bitcoin to fiat currency simple. The bank also supports purchases with credit and debit cards, offering a straightforward approach to cryptocurrency transactions. It monitors transactions closely and regulates them based on the security standards of the exchanges involved.
Deposits vs Withdrawls
- Their reputation as a financial institution is spotless and they pay attention to the needs of their customers, making it a brilliant choice for those who want to bank on cryptocurrencies.
- While there are many routes that you can go down, it is always important to thoroughly vet the service you choose and make sure that it is trustworthy.
- That’s why choosing a platform with strong security practices is essential.
However, over the years, this lenient policy has also expanded to crypto exchanges and various other platforms. Most high-street banks are still reluctant to incorporate crypto-related services into their operations. This situation is aggravated by the low percentage of UK people who own or trade cryptocurrency, especially in an automated fashion. Nevertheless, SMEs, crypto exchanges, and crypto-related firms need these services to launch themselves into the market. Moreover, their customers need crypto-friendly banks to do business with crypto firms and manage their crypto portfolios. It provides them with EU and IBAN accounts that corporations can use inside and outside the EU.
For instance, while Lloyds Bank isn’t crypto-friendly, you can freely transfer funds from Lloyds to Revolut, convert to EUR or GBP, and then deposit them on any cryptocurrency exchange. Thankfully, the relationship between banks and the cryptocurrency industry has gotten better in the last few years. 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. Moon Banking offers the most comprehensive list of crypto banks available. Join our community today by voting on your bank’s crypto-friendliness and sharing your own experience—positive or negative—to help others make informed decisions. Yes, profits from cryptocurrency transactions are subject to UK capital gains tax.
To help you out, we’ve listed our best crypto exchanges in the UK. Whether you are a beginner or an experienced trader, it’s important to find an exchange that meets your cryptocurrency needs. There seems to be a difference between the traditional high street banks and the challenger banks. Even those that are considered “crypto-friendly” will have some sort of limits in place or caveat that it may block payments if it suspects suspicious activity. As you can see, crypto transactions are still considered highly risky and even criminal by some of the big financial institutions. On the other hand, there are a bunch of progressive banks that want to adopt new trends and support their clients with crypto operations.
The role of digital wallets and crypto cards
In 2018, it announced a landmark partnership with Coinbase which granted the exchange access to the UK’s Faster Payments Scheme (FPS) – only to break it off a year after. Revolut combines cryptocurrencies with many of its remarkable features. Besides basic buying and selling functions, we also consider the institutions’ relationship with crypto-related technologies and the industry as a whole. Some, most notably JP Morgan and Barclays, are actively investing in the industry – to us, it can be a sign of a potentially lasting relationship.