Can you Buy Crypto with TSB Bank?

TSB Bank does not provide direct cryptocurrency trading services; however, customers can purchase digital assets by linking their TSB Bank account to a UK-based FCA-licensed crypto exchange. We highly recommend choosing platforms with appropriate licensing and regulation for the security of your investments instead of resorting to off-shore alternatives.

How to Buy Bitcoin and Crypto with TSB

As stated earlier, using your TSB Bank account, the safest and most convenient way to invest in crypto assets is via a regulated broker like eToro. This method lets investors quickly deposit GBP from TSB Bank through bank transfer, Faster Payments, TSB Card, debit card, credit card, and several other alternatives.

Here is a simple  4-step guide to begin with our recommended broker:

  1. Visit eToro to sign up and verify your identity.
  2. Select the 'Deposit Funds' button on the bottom left of your screen.
  3. Select GBP as your currency and your payment method (e.g. Bank Transfer) and complete your transfer from TSB.
  4. Complete the deposit and use the funds credited to your account to invest in crypto.
Buy Crypto with TSB

What are the Fees to Buy Crypto?

The fees associated with investing in Bitcoin and other digital assets using your TSB Bank account will differ based on your selected platform. Typically, the fees investors need to consider are deposit fees, withdrawal fees, spreads, and trading fees.

We suggest that TSB Bank account holders choose eToro to minimize their fees, as it provides free GBP deposits and commission-free trading. The sole expense incurred when buying digital assets on their platform is the spread, which is a fair 1% and more competitive than well-known alternatives like Coinbase, which charge over 2%.

Is TSB Bank Crypto-Friendly?

TSB Bank exhibits a crypto-friendly attitude, albeit with certain limitations to safeguard its customers. The bank permits investors to deposit funds solely into FCA-licensed exchanges, adhering to the Financial Conduct Authority regulations within the United Kingdom. Nevertheless, TSB Bank imposes a stringent ban on depositing funds into off-shore exchanges like Binance and Bybit to preserve the safety and security of its customers' investments.

Bottom Line

In conclusion, TSB Bank does not support direct cryptocurrency trading but facilitates investments through FCA-licensed UK-based crypto exchanges. We recommend eToro as the top choice for TSB customers due to its security, cost-effective deposits, and wide range of assets.

By adhering to regulatory standards, TSB Bank displays a crypto-friendly approach with limitations to ensure customer protection. Follow our simple 4-step guide to start investing in crypto using your TSB Bank account, and enjoy competitive fees on eToro's secure platform.