Beautiful Virgin Islands

Saturday, Jul 05, 2025

U.K. banks block payments to crypto exchanges

U.K. banks block payments to crypto exchanges

Banks are cracking down on transfers to cryptocurrency exchanges by suspending payments to the sector amid rising fears that it has become a hotbed for financial crime.
Customers of banks including Barclays, Monzo and Starling are among those to have been blocked from transferring money to cryptocurrency platforms such as Binance and SwissBorg in recent weeks.

Starling, the online bank, has gone the furthest by suspending all payments to cryptocurrency exchanges after noticing “high levels of suspected financial crime with such payment”.

A spokesman said: “This is a temporary measure that we’ve taken to protect customers.

“This is not just an issue for Starling, but for all banks. We apologise for the inconvenience that this has caused for some customers; we will be reversing this measure as we roll out additional checks specifically for payments to crypto exchanges.”

Cryptocurrency users have been taking to social media in recent days to complain about the various crackdowns.

One Barclays customer wrote on Twitter that they had been locked out of online banking after trying to transfer a large amount to Binance. “Took two 90-minute phone calls to be able to get the transfer done,” they said.

A Monzo customer who was told they could not transfer to SwissBorg wrote: “Does anybody know a bank I can switch to that doesn’t act like Big Brother telling me who I can send money to?”

After a Starling customer complained on Reddit that their cryptocurrency transfers had been blocked due to the new ban, a user responded: “I can imagine this is going to be becoming more and more common for crypto users.”
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
×