The complaints raise questions about access to crypto services in the UK as the country prepares to introduce a new regulatory regime for digital assets in 2027.
UK banks differ on crypto transfer limits
Barclays and HSBC UK were listed as limiting crypto transfers to 2,500 British pounds ($3,300) per transaction and 10,000 pounds ($13,300) over 30 days.
Six banks, including Starling Bank, TSB and Chase UK, were listed as banning crypto-related transfers entirely.
Meanwhile, Lloyds Banking Group and Revolut were classified as having no published crypto transfer restrictions, despite receiving customer complaints.
Revolut’s official support page, however, states that transfers to “some cryptocurrency exchanges” are unsupported. A Stand With Crypto spokesperson said this appeared to be a technical issue rather than a stated policy.
Banking restrictions threaten UK crypto hub ambitions
Nick Jones, founder and CEO of Zumo, told Cointelegraph that banking restrictions are a common problem among UK crypto founders and could undermine the country’s ambitions to become a global crypto hub.
“This issue of restricted access to banking services needs to be urgently addressed in order for UK crypto firms to have a level playing field where they can grow and scale,” Jones said.
Jones also warned that the UK’s incoming crypto regulatory regime may not resolve the problem. Although companies are preparing for mandatory Financial Conduct Authority approval in October 2027, access to a business bank account falls outside that framework, he said.
Without coordinated action, companies could obtain full authorization yet remain unable to open a UK business bank account, Jones added.
