How to Buy Crypto with NatWest

Can I Buy Bitcoin with NatWest?

Yes, NatWest customers can purchase Bitcoin and other cryptocurrencies through digital asset exchanges in the UK. While the bank does not offer direct trading services, it allows customers to transfer funds to trading platforms regulated by the Financial Conduct Authority (FCA). Clients can deposit GBP through bank transfers, Faster Payments, and debit cards, simplifying the investment process.

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How to Buy Crypto with NatWest

‍NatWest users interested in digital currencies can use eToro, a platform that adheres to FCA regulations and offers a simple registration process. It provides access to over 4,500 assets, including cryptocurrencies, stocks, commodities, and ETFs. It supports various GBP deposit methods, such as bank transfers, Faster Payments, and debit cards.

To start investing in crypto with NatWest, follow these steps:

1. Account Setup: Begin by creating an account on eToro. Complete the necessary verification steps to ensure security and compliance.
2. Funding Your Account: Navigate to the 'Deposit' section to fund your account with GBP.
3. Selecting Currency: Choose 'GBP' as your transaction currency and select a payment method that links to your NatWest account.‍
4. Crypto Investment: Once your deposit is successful, use the search tool to find and invest in your preferred cryptocurrency.

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What are the Fees?

When investing in digital currencies through an exchange, it is crucial to understand the various fees involved, such as charges for depositing funds, executing trades, and withdrawing money. Most investment platforms charge between 1% - 2% in trading fees.

eToro is a great choice as its trading fees start at a competitive rate of 1%, lower than many other platforms, such as Coinbase, which charges around 2%. Additionally, eToro offers free GBP deposit options through Faster Payments and bank transfers, helping to minimise overall costs.

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Is NatWest Crypto-Friendly?

The bank permits fund transfers to exchanges regulated by the Financial Conduct Authority (FCA), allowing users to invest in digital assets while complying with regulations in the UK.

However, NatWest imposes specific limits on the amount you can spend on digital currency purchases through debit cards or Faster Payments with a daily limit of £1k a day and £5k in any 30-day period. There are no limits on bank transfer amounts but if your deposit is blocked, these transfers can typically be approved by reaching out to NatWest's customer support.

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About Natwest

NatWest is a leading UK retail and commercial bank, providing various financial products and services. Key offerings include the NatWest Reward Account for cashback on household bills, the NatWest Premier Banking service for high net worth clients, and robust digital banking through its mobile app and online platform. The bank prioritises security and customer service, ensuring reliable financial management tools for its clients.

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Bottom Line

In conclusion, NatWest customers can invest in cryptocurrencies through FCA-regulated platforms like eToro. While the bank doesn't offer direct crypto trading, it supports fund transfers to these platforms. eToro offers fast GBP deposits, competitive fees, and a wide range of assets, providing a practical solution for NatWest users interested in digital currencies.