Crypto
UK Banks Restricting Crypto Transfers: Complaints Rise
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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.
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The complaints span all 650 UK parliamentary constituencies, highlighting how widespread the issue has become for retail crypto investors and traders.
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Which Banks Are Restricting Crypto?
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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.
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What Restrictions Are Actually in Place?
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What Stand with Crypto UK Is Asking For
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Why This Matters for UK Traders
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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.
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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.
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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.
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