If you're trading crypto in the UK, you've probably heard horror stories about banks freezing accounts or blocking transfers. After helping dozens of traders navigate these issues (and dealing with a few bank headaches myself), I've found which UK banks actually work with crypto – and which to avoid.
1. Revolut – The Crypto-Friendly Digital Bank
Revolut is currently the most crypto-tolerant UK bank. You can buy/sell crypto directly in their app (though you can't withdraw to external wallets). They clearly state they won't close accounts just for dealing with crypto exchanges. Just stick to reasonable amounts – sudden large deposits might trigger checks.
2. Monzo – The Chill Online Bank
Monzo's been good with crypto transfers, especially if you notify them first. Their customer service is more understanding than traditional banks. I've had no issues with regular Coinbase withdrawals under £5k. Their app even shows crypto transactions clearly.
3. Starling Bank – No Nonsense Approach
Starling officially allows crypto transactions as long as they're not for "business purposes." Personal account holders moving reasonable amounts to registered exchanges like Kraken or Binance rarely have problems. They're transparent about their policies, which is refreshing.
4. Nationwide – Surprisingly Open
For a traditional bank, Nationwide has been surprisingly okay with crypto. Multiple traders report successful withdrawals from exchanges without issues. Their fraud team might call to verify large transactions, but they don't automatically block crypto activity.
5. HSBC – Works If You're Careful
Despite their global anti-crypto reputation, HSBC UK has been more lenient than their international branches. The key is gradual withdrawals and using only major exchanges. Don't push your luck with huge amounts or obscure platforms.
6. Barclays – Hit or Miss
Barclays is inconsistent – some customers trade crypto for years without issues, others get account restrictions suddenly. If you use Barclays, keep transactions under £10k and maintain a healthy account balance to avoid red flags.
7. Monese – The Underrated Option
This digital bank doesn't get enough credit for being crypto-friendly. They've publicly stated they support legal crypto activity. Faster Payments to exchanges usually go through without delays, making it great for active traders.
Banks That Still Hate Crypto
- Santander – Known for sudden account freezes
- Lloyds – Blocks most exchange deposits/withdrawals
- TSB – Worst track record for crypto closures
How to Keep Your Bank Happy
✔ Start small – Build a transaction history with gradual amounts
✔ Use only FCA-registered exchanges – Binance, Kraken, Coinbase
✔ Keep records – Be ready to show source of funds
✔ Don't mix personal/business – Keep trading funds separate
✔ Talk to your bank first – A quick call can prevent headaches
What I Recommend
For serious traders: Use Revolut for daily transactions + Starling as backup
For large amounts: Nationwide with gradual withdrawals
For peace of mind: Monzo with their clear crypto policies
Had any UK bank issues with crypto? Share your experience below – let's help each other out!
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