How To Buy Crypto With TSB Bank: A Simple Guide

In this post, I will explain how to fund crypto accounts using TSB Bank, detailing the account’s limitations as well as compatible exchanges.

TSB Bank does not allow direct crypto purchases, but you can fund transactions on some platforms using your account. Continue reading to understand how to go through the process seamlessly and safely.

Introduction Crypto

Cryptocurrency is a money in the digital form which operates with the use of decentralized technology known as blockchain.

Unlike traditional currencies issued by governments, crypto is not controlled by any central authority. Bitcoin is the first decentralized cryptocurrency, established in 2009, which led the way for many others like Ethereum, Litecoin, and Solana.

It can be used for online payments, investments, and even international money transfers at a lower cost. Its value can change greatly which can be both beneficial and risky.

With an increase in the interest for digital assets, more people and institutions are trying to find ways on how to securely buy, store, and use cryptocurrency in everyday activities.

How To Buy Crypto With TSB Bank

Step 1: Create a Kraken Account

Visit the website Kraken.com, register, and complete the identity verification process so that you align with UK regulations.

Step 2: Link Your TSB Bank Account

After logging in to Kraken, go to “Funding.” Choose the “Deposit” option and select GBP as your currency. Select Faster Payments and follow the provided steps. With TSB online banking, transfer the payment to the details Kraken displays.

Step 3: Deposit GBP from TSB

Using TSB Bank’s app or online banking, send the required amount to Kraken’s bank account. In most cases, Faster Payments transfers take 1–2 hours to complete.

Step 4: Buy Crypto

Now that the funds have successfully transferred to your Kraken account, navigate to the “Buy Crypto” section. Select which digital currency you would like to purchase, for instance, Bitcoin or Ethereum, and specify how much you would like to buy, confirming the transaction afterward.

Step 5: Secure Your Assets

Your crypto can either be left on Kraken or transferred to a dedicated wallet, which offers a greater level of protection.

Can You Buy Crypto Directly Through TSB Bank?

No, TSB Bank does not permit the direct purchase of cryptocurrency by customers through its banking platform. Moreover, TSB has enforced a complete ban on any form of cryptocurrency related transactions, including transfers to and from crypto exchanges as of 2025.

This was done as a response to rampant fraudulent activity involving cryptocurrency, especially with Binance and Kraken .

The bank reported that during a certain period, the fraud rate associated with crypto transactions was 13 times higher when compared to traditional currency transfers . With this in mind, the bank has taken strong measures in defending their customers and has blocked any form of crypto related transaction.

If you are looking to buy cryptocurrency, then you will have to look for alternative banks. Monzo, Revolut, and Nationwide, are some UK banks that are more lenient when it comes to cryptocurrency. These banks tend to permit transfers to and from crypto exchanges, but it’s important to check their policies as they tend to change frequently.

To improve the safety of your transactions, make sure that any crypto exchange you choose is registered with the United Kingdom’s Financial Conduct Authority (FCA).

Is It Legal to Buy Crypto with TSB in the UK?

Indeed, purchasing cryptocurrency is legal in the UK and can be done through a TSB Bank account. However, TSB has blocked or restricted transactions to bypass the fraud concerns associated with various crypto exchanges.

While UK law allows for the purchasing of cryptocurrency, banks such as TSB reserve the right to restrict access in order to protect clientele. If you’re looking to buy cryptocurrency safely and legally, keep in mind to use exchanges registered with the FCA and verify if TSB permits transfers to those platforms before moving forward.

Best Crypto Exchanges That Work with TSB Bank

eToro

eToro is a peer to peer trading platform which is as simple as it gets due its navigability. It also is registered under the FCA. It enables users to buy and sell different cryptocurrencies which as Bitcoin, Ethereum and XRP.

etoro’s popularity can be accredited to the ‘copy trading’ feature which assists novice traders by allowing them follow the investing strategies of seasoned investors.

Given that eToro abides by UK laws and regulations, it is likely that they will work with TSB bank especially when it comes to debit card and bank transfer payments. Nevertheless, eToro has to be careful with their transaction fees and spreads.

3.Bitstamp

Bitstamp is an FCA-registered crypto exchange that works well for UK users, including TSB account holders. It facilitates GBP deposits and withdrawals via Faster Payments, adding to its efficiency.

Bitstamp is most appealing to users who prioritize a simple, professional interface and intend to purchase and hold investments in leading cryptocurrencies such as Bitcoin and Ethereum.

Due to the regulatory-focused nature of Bitstamp, it’s considered lower risk, and because of user security, UK banks including TSB view Bitstamp more favorably.

Uphold

Uphold provides various assets such as cryptocurrencies, metals, and stocks, and is registered with the FCA which allows GBP bank transfers, although it may depend on the type of transaction with TSB Bank.

The unique aspect of Uphold is the “anything-to-anything” trading system which permits instant swaps between different asset classes.

While lesser-known than Kraken and eToro, many users from the UK report successful dealings with TSB when using Uphold, particularly for moderate and smaller purchases.

Luno

For cryptocurrency enthusiasts in the UK, Luno is a very straightforward user-friendly platform that allows trading of virtual currencies.

It is considered a great starting point for novice investors since it offers simple trading interfaces and supports widely accepted digital currencies like Bitcoin, Litecoin, and Ethereum. In terms of banking, Luno functions smoothly with UK systems as it supports GBP payments through Faster Payments which is compatible with some UK banks like TSB.

The application is tailored for mobile users making Luno a great option for beginners as there are no minimum purchase amounts. Similar to most platforms, it is advisable to check using small amounts first. If these transactions go through smoothly, then the user can explore other options through virtual trading.

Conclusion

To sum up, purchasing cryptocurrency with TSB Bank is feasible, but comes with restrictions based on the bank’s limitations on dealing with digital currency. Even though TSB may restrict some transactions, other services such as Kraken, eToro, or even Bitstamp are usually fine.

Always check the exchange`s compatibility, use small test transfers at first, and avoid non-FCA regulated platforms to make sure the FTC compliant crypto transactions in the UK circumvent legal, secure, successful, and straightforward buying avenues.