UK banks receive over 10,000 crypto transfer complaints in 90 days

In the 90 days from May to August 2026, UK bank customers submitted 10,092 complaints through the crypto advocacy group Stand With Crypto, regarding blocked or restricted transfers to crypto platforms registered with the Financial Conduct Authority (FCA) in the UK, with 9,803 individuals affected. Lloyds Banking Group received 2,297 complaints, accounting for over 22%, but did not disclose its policy on restricting crypto transfers. Barclays Bank received 1,569 complaints, NatWest Group received 1,278, and HSBC UK received over 1,000. Stand With Crypto is calling for banks to replace blanket restrictions with risk-based case-by-case reviews, and urges the FCA and the UK Treasury to publicly state that a blanket ban and hard transfer limits on registered or authorized crypto companies are difficult to justify under anti-fraud or financial crime rules. The FCA's crypto regulatory framework will come into effect in 2027.

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