Can I Buy Bitcoin with Barclays Bank?

Barclays does not offer direct cryptocurrency trading through its online banking or mobile app. However, customers can still buy Bitcoin by transferring British Pounds (GBP) from their Barclays account to an FCA-registered crypto exchange in the UK.

Deposits are typically made using Faster Payments for near-instant transfers or standard bank transfers through Barclays online banking. Once funds clear, users can purchase Bitcoin and other digital assets on the exchange.

How to Buy Crypto with Barclays Bank

Barclays customers can purchase cryptocurrency by transferring GBP to FCA-regulated exchanges such as eToro (UK) Ltd, authorised under Firm Reference Number 583263. eToro accepts deposits through Faster Payments, bank transfers and debit cards.

The platform also offers access to more than 6,000 stocks, ETFs, and other assets, making it a comprehensive choice for both crypto and traditional investing.

Steps to buy crypto with Barclays and eToro:

1. Create an eToro Account: Sign up on eToro’s website and complete Know Your Customer (KYC) verification.
2. Transfer Funds from Barclays: Deposit GBP via Faster Payments or a Barclays debit card using online banking.
3. Select Cryptocurrency: Pick from eToro’s supported assets, including Bitcoin (BTC) or Ethereum (ETH).
4. Confirm Purchase: Enter the amount, check the details, and confirm. The cryptocurrency will be credited instantly to your eToro wallet.

Barclays Cryptocurrency Policy

Barclays is regarded as one of the least crypto-friendly banks in the UK. While it allows transfers to FCA-registered exchanges, it does not offer crypto trading or custody and imposes strict monthly debit card limits.

Personal, business, and wealth accounts are capped at £10,000 per month for crypto-related payments in and out. For basic, student, children’s, young person, and higher education accounts, crypto transactions are blocked entirely.

These restrictions reflect Barclays’ concerns over rising scams and the lack of statutory protection for digital assets, which are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS). 

The bank advises customers to use only regulated exchanges, protect wallet credentials, and understand the risks before investing.

Best Alternative Crypto Exchanges for Barclays Customers

Barclays customers seeking alternatives to eToro can choose from several FCA-registered cryptocurrency exchanges in the UK:

• Kraken: FCA-registered (Firm #928768), accepts GBP from Barclays via Faster Payments, BACS, SWIFT, and PayPal. Supports 240+ cryptocurrencies, competitive fees (maker 0.25%, taker 0.40%), advanced Kraken Pro platform, and independently audited Proof-of-Reserves.
• Uphold: FCA-registered (Firm #938277), supports GBP deposits via Faster Payments, bank transfers, cards, Apple Pay, and Google Pay. Offers 300+ digital assets, 27 fiat currencies, and precious metals  (e.g. Gold & Silver) with spreads from 0.2% to 2.95%.
• Coinbase: FCA-registered (Firm #900635), accepts GBP via Faster Payments, bank transfers, and debit/credit cards. Lists 240+ cryptocurrencies, fees from 1.49% (lower with Coinbase Advanced), and provides a self-custody wallet along with 24/7 support.

When selecting an exchange, consider deposit options, trading fees, asset variety, and platform security.

Whats is Barclays Bank?

​​Barclays Bank is a leading UK financial institution with more than 48 million customers worldwide. Established in 1690, it offers core services such as current accounts, savings accounts, mortgages, and personal loans, along with its flagship Barclaycard credit cards, which include balance transfer, rewards, and cashback options.

Barclays also provides investment banking, wealth management, and business banking solutions, supported by one of the UK’s most widely used mobile and online banking platforms.

Final Thoughts

Barclays customers cannot buy cryptocurrency directly through the bank, but they can fund FCA-regulated exchanges like eToro, Kraken, Uphold, or Coinbase using GBP transfers.

The key is to compare deposit methods, fees, and supported assets before choosing a platform, while also understanding Barclays’ restrictive policy and the lack of FSCS protection for digital assets.

Taking these factors into account will help investors make safer, more informed decisions when buying crypto with a Barclays account.