British banks have faced 10,092 complaints over restrictions on cryptocurrency payments during a 90-day period, as customers question why some lenders block transfers to crypto platforms despite the government’s plans to attract digital asset businesses.
Summary
- Stand With Crypto recorded 10,092 complaints from 9,803 people over 90 days.
- Lloyds, Barclays and NatWest accounted for 5,144 complaints, around 51% of submissions.
- Customers reported restrictions even at banks without publicly stated crypto payment limits.
- The complaints are self-selected submissions, not verified rejection rates across UK banks.
- The UK plans to regulate more crypto activities in 2027, but bank payment restrictions remain separate.
According to a report by advocacy group Stand With Crypto UK, 9,803 individuals used its online complaint tool between May and August 2026 to challenge blocked or restricted transfers. Submissions came from all 650 parliamentary constituencies, with Lloyds Banking Group, Barclays and NatWest receiving the largest numbers.
Lloyds leads UK crypto complaints despite unclear restrictions
Lloyds Banking Group accounted for 2,297 complaints, covering customers of Lloyds, Halifax and Bank of Scotland. Barclays followed with 1,569, while NatWest Group received 1,278.
Together, the three banking groups attracted 5,144 complaints, equivalent to approximately 51% of the total.
HSBC UK received more than 1,000 submissions, according to the report. At the other end of the list, Virgin Money recorded 103 and the Co-operative Bank received 76.
Lloyds presents a particular concern for the campaign because its review of published banking policies, conducted as of August 28, found no publicly stated restrictions on cryptocurrency transfers.
Revolut appeared among institutions without published restrictions in the campaign’s review, although its customers reported encountering payment difficulties. Revolut’s own support information identifies certain cryptocurrency exchanges as unsupported.
The distinction matters to customers trying to identify which banks permit payments to regulated crypto businesses. A bank may allow some transactions while rejecting others following fraud checks, internal risk assessments or restrictions on particular recipients.
The figures do not establish that Lloyds blocks a higher proportion of cryptocurrency payments than its competitors. Stand With Crypto collected submissions from people choosing to use its tool, without adjusting for each bank’s customer base or total payment activity.
Which UK banks restrict payments to crypto exchanges?
The campaign identified substantial differences between banks that publish transaction limits and those that prohibit cryptocurrency-related payments.
Barclays and HSBC UK were listed as permitting transfers of up to £2,500 per transaction, subject to a £10,000 limit over 30 days.
NatWest’s published limits were £1,000 per day and £5,000 over 30 days. Santander UK imposed a £1,000 transaction ceiling and a £3,000 monthly limit.
Among the institutions identified as prohibiting cryptocurrency payments were Starling Bank, Chase UK, TSB, Metro Bank, Virgin Money and the Co-operative Bank.
According to the campaign’s figures, banks with published transaction limits accounted for 6,198 complaints, approximately 61% of submissions.
Another 2,842 complaints involved providers without publicly identified restrictions, while 989 concerned banks listed as having outright prohibitions.
The remaining 63 submissions were outside those three categories.
Barclays has defended restrictions as a means of protecting customers against cryptocurrency scams and financial losses. Banks remain responsible for assessing fraud and financial crime risks when processing payments.
Stand With Crypto argues that blanket restrictions can affect legitimate purchases through businesses registered with the Financial Conduct Authority.
UK crypto rules leave bank payment access unresolved
The complaints arrive as Britain prepares to introduce its new cryptocurrency regulatory framework.
In a December 2025 announcement, HM Treasury said the government wanted Britain to become a leading destination for digital asset businesses while strengthening consumer protections.
The planned regime, scheduled for October 2027, will bring additional cryptocurrency activities under FCA authorization.
As crypto.news previously examined banking restrictions, authorizing a cryptocurrency company does not automatically require a retail bank to process payments to that business.
The FCA’s five-month application window opened on September 30, 2026, and runs through February 28, 2027. Existing anti-money-laundering registration does not automatically become authorization under the new regime.
Banking access has already attracted political attention. In August, a cross-party parliamentary group questioned major bank executives about their treatment of cryptocurrency firms and related transfers.
The inquiry requested details about account refusals, payment limits and the factors banks consider when assessing cryptocurrency businesses.
Industry group calls for clearer banking policies
Katie Harries, Coinbase’s head of European policy, criticized restrictions that affect transfers to businesses registered with the FCA.
She argued that banks should assess individual payments instead of applying restrictions across the cryptocurrency industry.
Stand With Crypto wants banks to publish clearer explanations of their policies and give customers practical ways to challenge rejected transactions.
The campaign has asked the FCA and HM Treasury to clarify when restrictions covering an entire industry can be justified under fraud prevention and financial crime requirements.
Its report did not measure how many attempted crypto purchases succeeded, how many failed transfers involved suspected fraud, or the share of complaints upheld by the banks.
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