UK banks blocked over 10,000 crypto transfers in 90 days, with Lloyds receiving the most complaints despite lacking published restrictions.
Regulation & Gov ·
Between May and August 2026, UK bank customers submitted over 10,000 complaints regarding blocked or restricted transfers to crypto exchanges, according to Stand With Crypto's report published in October. The 10,092 complaints came from 9,803 individuals across all 650 UK parliamentary constituencies and targeted transfers to FCA-registered platforms. Lloyds Banking Group led with 2,297 complaints, trailed by Barclays at 1,569 and NatWest Group at 1,278, with HSBC UK also exceeding 1,000.
A notable inconsistency emerged: Lloyds received the highest volume despite publishing no formal policy restricting crypto transfers. Six other banks publicly disclose transfer caps—Barclays limits transactions to £2,500 with a £10,000 monthly ceiling, while NatWest and Santander UK each impose tighter daily and monthly thresholds. Six additional banks, including Starling and TSB, block such transfers entirely. Banks with published limits received 6,198 complaints, compared to 2,842 for those without stated restrictions and 989 for those with complete bans.
The advocacy group has called on the Financial Conduct Authority and Treasury to clarify that sector-wide restrictions lack proportionality ahead of the UK's crypto regulatory framework launching next year. Notably, a 2025 FCA and YouGov survey found 13% of UK crypto users reported difficulties withdrawing funds to bank accounts, while separate estimates suggested banks were blocking or delaying roughly 40% of transfers.