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This article was updated with a comment form Harry Pearce Gould, General Manager of Stand With Crypto.
A recent report has found that top UK banks received more than 10,000 customer complaints over blocked or restricted cryptocurrency related transfers, with Lloyds, Barclays and NatWest accounting for nearly half of the cases.
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 <li>Major UK banks received 10,092 complaints from 9,803 individuals over restrictions on transfers to FCA registered cryptocurrency platforms.</li>
 <li>Lloyds Banking Group recorded the most complaints at 2,297, followed by Barclays with 1,569 and NatWest with 1,278.</li>
 <li>Banking restrictions ranged from daily and monthly transaction limits to outright bans on crypto payments.</li>
 <li>Complaints were recorded across all 650 UK parliamentary constituencies, prompting calls for clearer banking policies and individual assessments of crypto transactions.</li>
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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 registered with the Financial Conduct Authority.
Four major banking groups received more than 1,000 complaints each, while customers across all 650 UK parliamentary constituencies reported problems accessing crypto services through their banks.
The findings follow months of complaints from crypto businesses and customers over banking restrictions, even as the UK prepares to bring crypto focused companies under a comprehensive regulatory framework in 2027.
<h2 class="wp-block-heading" id="strong-lloyds-and-barclays-received-the-most-complaints-strong">Lloyds and Barclays received the most complaints</h2>
Lloyds Banking Group received the most complaints at 2,297, including those involving Halifax and Bank of Scotland customers. Barclays followed with 1,569, while NatWest Group, including Royal Bank of Scotland, recorded 1,278.
HSBC UK was the fourth bank to receive more than 1,000 complaints during the period.
Other banks named in the report included Monzo, Santander UK, Nationwide, Revolut, Starling Bank, TSB and Chase UK. Virgin Money and Co-operative Bank received the fewest complaints among the providers examined, at 103 and 76, respectively.
The campaign began in June after Stand with Crypto <a href="https://crypto.news/stand-with-crypto-targets-uk-banks-over-crypto-transfer-curbs/" rel="noopener noreferrer nofollow">called on UK customers</a> to challenge restrictions on transfers to cryptocurrency exchanges. At the time, crypto.news found that 40% of crypto transactions were being blocked or restricted by UK banks.
<h2 class="wp-block-heading" id="strong-uk-banks-impose-limits-and-outright-bans-on-crypto-payments-strong">UK banks impose limits and outright bans on crypto payments</h2>
The complaints over banking services covered a range of restrictions on crypto-related payments, from banks imposing daily and monthly transaction limits to providers blocking transfers to cryptocurrency platforms altogether. Some customers reported difficulties completing payments even when their banks had no publicly stated restrictions on crypto transfers.
According to the report, Barclays and HSBC UK allow customers to transfer up to £2,500 per transaction to cryptocurrency platforms, with a maximum limit of £10,000 over a 30-day period.
NatWest has tighter restrictions, allowing customers to transfer no more than £1,000 per day and £5,000 over 30 days. Santander follows a similar approach but sets a lower monthly limit of £3,000, while keeping individual transactions capped at £1,000.
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Meanwhile, Monzo allows crypto-related transfers of up to £5,000 over 30 days, while Nationwide imposes a daily limit of £1,000 on such payments.
Six banking providers examined in the report, including Starling Bank, TSB, Chase UK, Metro Bank, Virgin Money and Co-operative Bank, were listed as imposing outright bans on crypto-related transfers.
The report further added that Lloyds and Revolut didn’t officially announce any restrictions, but customers of both providers still reported difficulties completing transfers.
Banks with published limits accounted for 6,198 complaints, compared with 2,842 involving providers without published restrictions and 989 involving banks with formal bans.
However, the report noted that not every failed crypto transfer was necessarily the result of a bank imposing blanket restrictions on such payments.
Crypto banking restrictions have drawn UK parliamentary scrutiny
Such banking restrictions have previously drawn regulatory scrutiny from UK lawmakers. For instance, in August, the UK Crypto and Digital Assets All-Party Parliamentary Group <a href="https://crypto.news/uk-parliament-questions-major-banks-over-crypto-account-access/" rel="noopener noreferrer nofollow">questioned major banks</a> about their treatment of cryptocurrency businesses and related payments.
The inquiry was based on concerns that digital asset companies were struggling to open or maintain bank accounts, while retail customers faced restrictions when transferring funds to exchanges.
Stand with Crypto has called on banks to replace blanket bans and rigid payment limits with controls based on individual customer and transaction risks. It has also urged the FCA and HM Treasury to clarify that restrictions covering an entire sector are unlikely to be justified solely by financial crime or fraud prevention obligations.
Meanwhile, the organization urged banks to clearly explain when and why crypto-related transfers could be blocked or restricted. It recommended that customers be given a proper way to challenge such decisions or request exemptions when transferring money to FCA-registered or authorized platforms.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Over 10,000 people from every constituency in the country told their banks the same thing: they want the freedom to be able to choose where their money goes. These aren’t isolated cases either. They’re ordinary people being stopped from making lawful transfers to FCA-registered platforms. They’ve done their part by speaking up. Now banks and policymakers need to listen,” Harry Pearce Gould, General Manager of Stand With Crypto said in a comment to crypto.news.
</blockquote>
<h2 class="wp-block-heading" id="strong-uk-is-still-moving-ahead-with-crypto-regulations-strong">UK is still moving ahead with crypto regulations</h2>
The dispute comes as the FCA has <a href="https://crypto.news/can-uk-crypto-firms-continue-operating-while-awaiting-fca-authorization/" rel="noopener noreferrer nofollow">opened its crypto authorization process</a> ahead of a new regulatory framework set to effect on October 25, 2027.
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.
Crypto companies already registered under the UK’s anti-money laundering regulations will still need to apply for authorization, as their existing registrations will not automatically carry over to the new framework.
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.
Stand with Crypto has urged banks to review how they handle such payments and use existing fraud prevention measures, including behavioral analysis and additional checks where necessary, to assess individual transactions.
Across the U.S., similar concerns over banking access have emerged under what crypto industry executives have called Operation Chokepoint 2.0. The issue gained attention after the <a href="https://crypto.news/fdic-releases-documents-related-to-crypto-debanking/" rel="noopener noreferrer nofollow">Federal Deposit Insurance Corporation released documents</a> in February 2025, showing that regulators had asked several banks to pause or avoid certain crypto activities.
More recently, an October 14 <a href="https://crypto.news/crypto-debanking-occ-finds-bank-restrictions/" rel="noopener noreferrer nofollow">review by the Office of the Comptroller of the Currency</a> found that some major U.S. banks maintained policies restricting services to digital asset businesses, although the regulator said it could not determine the full extent of the problem.
Read more: <a href="https://crypto.news/digital-gold-market-2031-forecast/" rel="noopener noreferrer nofollow"> Digital gold market could reach $170 billion by 2031, WGC and BCG say </a>

Top UK banks including Lloyds, Barclays are restricting crypto related transfers: report

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