Summary: Metro Bank does not offer a dedicated feature for purchasing cryptocurrencies. However, it does permit transactions to approved exchanges that are overseen by the Financial Conduct Authority. We recommend using a trading platform accepting deposits in British Pounds to avoid high fees.

Based on our extensive analysis, we have determined that eToro is an excellent choice for Metro Bank account holders. eToro enables access to a broad range of investments, including over 3,000 cryptocurrencies, stocks, and ETFs to trade in an FCA-licensed environment. The platform also offers instant GBP deposits and competitive transaction fees.

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Can I Buy Bitcoin with Metro Bank?

Yes, Metro Bank allows its customers to move GBP to reputable cryptocurrency exchanges based in the United Kingdom. Bitcoin and Ethereum are just a few of the tokens that can be acquired or traded once funds are successfully transferred. It’s important to highlight the bank doesn't offer direct trading services through its services. Therefore, it's essential to utilise a platform regulated by the FCA to guarantee a safe investment environment.

How to Buy Crypto with Metro Bank

Customers in the UK interested in acquiring digital currencies like Bitcoin can securely transfer funds from their Metro Bank accounts to a certified exchange. We recommend eToro due to its wide asset selection and strict adherence to FCA regulations. It offers multiple payment methods, such as bank transfers, FPS, and debit cards, for instant GBP deposits.

Here's a straightforward guide for investors looking to get started:

  1. Sign Up: Open a free account on eToro by entering your email address and verifying your identity.
  2. Connect Account: Tap the ‘Deposit Funds’ button and select ‘GBP’ as your currency.
  3. Add Funds: Choose a suitable payment method and transfer funds from your Metro Bank account.
  4. Purchase Crypto: Once the deposit has cleared, use the search bar to find the asset you wish to buy and complete the transaction.
How to Buy Crypto with Metro Bank.
How to Buy Crypto with Metro Bank.

Metro Bank Cryptocurrency Policy

Metro Bank adopts a balanced approach regarding cryptocurrency, embracing open innovation alongside rigorous compliance. Their customers are permitted to buy and sell digital assets via trusted exchanges. Our suggested platform, eToro (UK) Ltd., holds Financial Conduct Authority (FCA) authorisation and is registered under Company No. 07973792. Its principal office is located at One Canada Square, Canary Wharf, London E14 5AB.

Digital Asset Investing Fees

Understanding the fees required when using trading platforms is essential to obtain the best financial performance. Below are some common fees customers could face while investing:

  • Trading Spreads: These are the expenses incurred while purchasing and selling assets. eToro charges variable spreads on cryptocurrency transactions, typically below 1%.
  • Deposit Fees: The cost to deposit GBP differs based on the payment method. Our research indicates that bank transfers and Faster Payments generally have lower fees.
  • Withdrawal Fees: These fees vary, based on the token being withdrawn. For example, many platforms charge a set fee of 0.0005 BTC for Bitcoin withdrawals.

eToro's diverse asset offerings, adherence to FCA guidelines, and reasonable fee structure make it an ideal exchange for Metro Bank customers seeking an economical but secure investment experience.

What is Metro Bank?

Metro Bank is a UK-based retail and commercial bank that was founded in 2010. It was the first high street bank to launch in the United Kingdom in over 150 years, aimed at disrupting the traditional banking model. Known for its excellent customer reputation, the bank offers extended working hours and a more personalised banking experience. 

The bank's services span personal and business accounts to mortgages and loans. It operates primarily in the South of England and London, boasting over 70 branches. It is dedicated to making banking simple, fair, and accessible for all and aims to provide a refreshing alternative to traditional banking institutions.

Metro Bank.
Metro Bank: Home Page.

Final Thoughts

To recap, Metro Bank enables its customers to venture into digital assets by allowing transfers to FCA-regulated exchanges like eToro. Given its competitive fee setup and multiple payment methods for depositing funds in GBP, eToro is an excellent platform for British individuals interested in entering digital currency markets. In addition to crypto, it also supports shares, ETFs, commodities and indices.