Financeupdated 51m ago2 min read
Lloyds, Barclays Face 10,092 Complaints After UK Banks Block Crypto Exchange Transfers
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10,092 complaints from 9,803 individuals over 90 days about crypto transfer restrictions (May–Aug 2026). Lloyds Banking Group and Barclays are the top banks cited in complaints.
7 outlets told this the same way.
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10,092 complaints in 90 days
Stand With Crypto said UK bank customers filed 10,092 complaints over a 90-day period after banks blocked or restricted transfers to cryptocurrency exchanges registered with the UK Financial Conduct Authority. Stand With Crypto said 9,803 individuals submitted the complaints between May and August 2026 through an online tool operated by the organization. Stand With Crypto said Lloyds Banking Group, which includes Halifax and Bank of Scotland, received the highest number of complaints at 2,297, accounting for more than 22% of the total.
Stand With Crypto said Barclays received 1,569 complaints and NatWest Group, which includes Royal Bank of Scotland, received 1,278. Stand With Crypto said Virgin Money and Co-operative Bank received the fewest complaints, at 103 and 76 respectively.
Limits, bans, and bank replies
Barclays set a limit of £2,500 per transaction and a monthly cap of £10,000 over 30 days, while NatWest set a limit of £1,000 per day and £5,000 over 30 days, according to the Stand With Crypto report. The report said Starling, TSB, Chase UK, Metro Bank, Virgin Money, and Co-operative Bank completely blocked cryptocurrency transfers. A Barclays spokesperson told Decrypt, "Protecting customer funds is our top priority."
The spokesperson added, "Like many other banks, we have placed restrictions on payments to cryptocurrency exchanges to help customers guard against crypto-related scams and losses." The report said six banks imposed restrictions on cryptocurrency transfers, and it said banks without publicly stated policies, including Lloyds and Revolut, received 2,842 complaints.
Regulatory stakes and politics
Nick Jones, chief executive of blockchain payments firm Zumo, said the issue of access to banking services "must be resolved urgently to create a level playing field that allows UK crypto companies to grow and scale." Jones said the problem may persist even after the UK Financial Conduct Authority (FCA)'s authorization requirement takes effect in October 2027, because opening a business bank account in the UK falls outside that framework. Stand With Crypto urged banks to replace blanket restrictions with a risk-based, case-by-case review approach and to publish clear and understandable policies outlining when cryptocurrency transfers may be blocked.
Stand With Crypto urged the FCA and the UK Treasury to publicly state that imposing industry-wide blocks and hard caps on registered or authorized crypto companies is likely unreasonable under anti-fraud or financial crime regulations. Nigel Farage, leader of the Reform UK party, pledged that if he becomes prime minister, he will ban banks from refusing services to customers simply because they engage in cryptocurrency.