Mixed: We are aware of a number of issues making crypto-related transactions with this bank.Allowed*: there may be a small number of reports stating issues with the bank, however, generally we understand transactions are going through unhindered.Allowed: We do not know of any major issues with making crypto-related transactions.Apart from that, they also support popular cryptocurrencies within their app. Both companies are modern crypto-friendly internet-first banks. While you should be okay using your high street bank (aside from the use cases above), we recommend avoiding high street banks altogether and using an app-based ‘challenger’ bank, such as Revolut or Xace. If you’re day trading and are moving money in-and-out of your account frequently, your bank may require you to open a business account instead. Day traders: Finding an ideal bank account in the UK that supports cryptocurrency trading is important for day-traders.This has even happened to customers of some of the most crypto-friendly banks in the UK. This could include multiple transactions to and from LocalBitcoins, for example. Importantly, your account may also be suspended, or transactions may be blocked, if you appear to be operating a crypto-related business. Some UK crypto-based companies have been forced to bank abroad, due to British banks broadly being unwilling to host them. (Appearing to be) Running a business related to cryptocurrency.Generally, movements of 5-figure+ sums of money from novel sources will trigger routine money laundering flags, regardless of whether it’s related to cryptocurrency. The threshold at which a transaction is considered ‘large’ depends on your historic balance. The majority of people we hear from that have experienced problems have often fallen into one of the following categories: Some banks are happy to accept funds derived from crypto-related activity, however it’s important to remember that this can vary based on the type of activity you have engaged in.
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