UK Banks Face Complaints Over Restricted Crypto Transfers

restricted crypto transfers — Major UK banks, including Lloyds and Barclays, are facing thousands of customer complaints over restrictions on transferring money to cryptocurrency platforms.

According to a report from advocacy group Stand With Crypto, 9,803 people submitted over 10,000 complaints during a 90-day period from May to August 2026. The complaints were filed through the group’s online tool, targeting banks that limit or block transactions to crypto exchanges.

The report lists Barclays and HSBC UK as restricting transfers to £2,500 per transaction and £10,000 over 30 days. Six other banks, including Starling Bank and Chase UK, are cited as banning crypto-related transfers entirely.

Nick Jones, CEO of crypto platform Zumo, warned that such banking restrictions threaten the UK’s ambition to become a global crypto hub. He noted that the upcoming regulatory regime, set for 2027, may not resolve the issue of firms being unable to open business bank accounts.