UK banks face thousands of complaints over crypto transfer restrictions

Major UK banks have faced significant customer pushback regarding restrictions on cryptocurrency-related transfers. According to a report by Stand with Crypto UK, 9,803 individuals submitted a total of 10,092 complaints over a 90-day period between May and August 2026.

Lloyds Banking Group recorded the highest number of complaints at 2,297, followed by Barclays with 1,569 and NatWest Group with 1,278. Together, these three institutions accounted for approximately 51% of the total submissions. Other banks mentioned in the report include HSBC UK, Monzo, Santander UK, and Chase UK.

The restrictions vary by institution, ranging from daily and monthly transaction limits to outright bans on certain payments. For example, Barclays caps transfers at £2,500 per transaction and £10,000 per month, while NatWest limits payments to exchanges to £1,000 daily and £5,000 per 30-day period. Banks have characterized these controls as necessary measures to prevent fraud and scams.

These developments occur as the UK prepares to implement a comprehensive regulatory framework for crypto-focused companies. A UK parliamentary group has also opened an inquiry into how crypto businesses access banking services and the impact of transaction restrictions on customers.