Summary: Although Starling does not offer a direct feature to purchase cryptocurrencies through its online platform, it enables customers interested in the market to trade on safe and legal exchanges. The bank approves GBP transfers to a number of digital asset trading platforms that have been granted authorisation by the Financial Conduct Authority (FCA). 

Our research led us to conclude that eToro, the FCA-registered trading platform, was the best option for Starling Bank account holders. It offers over 3,000 digital currencies, stocks, commodities, and ETFs with industry-leading fees. eToro provides fast deposits in British Pounds through direct transfers, FPS, credit cards, and more. The exchange is registered with the FCA, giving users a secure and transparent investment environment.

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Can I Buy Bitcoin with Starling Bank?

Yes, Starling users can invest in Bitcoin and other cryptocurrencies by sending funds to a recognised UK-based digital asset exchange. Once your GBP is on a trading platform, it can be converted directly into tokens like Arbitrum and Solana. It’s important to highlight the bank does not provide direct investing service but approves transfers of British Pounds. To ensure asset security, only use exchanges authorised by bodies such as the Financial Conduct Authority (FCA). 

How to Buy Crypto with Starling Bank

You can safely and quickly invest in digital assets using your Starling Bank account as an intermediary by going through a regulated exchange. eToro is a top choice, thanks to its FCA registration and access to over 3,000 cryptocurrencies, stocks, ETFs, and other financial instruments. In addition, the exchange accepts GBP deposits via debit card, Faster Payments, bank transfers, and Neteller, all at a reasonable cost. 

Here are some simple initial steps for UK account holders to get started:

  1. Setup Account: Create an eToro account and finish all necessary identity verification procedures.
  2. Choose Currency: After navigating to and selecting "Deposit Funds," choose "GBP" as your deposit currency. 
  3. Add Funds: Choose a suitable payment method to initiate a transfer from your Starling bank account.
  4. Purchase Crypto: Search for the token you want to buy and finalise to complete your transaction.
How to Buy Crypto with Starling Bank.
Buy Crypto with Starling Bank via eToro.

Starling Bank Cryptocurrency Policy

With its progressive stance on cryptocurrencies, Starling Bank fosters financial innovation while adhering to all applicable laws by allowing clients to use regulated platforms. Our recommended exchange, eToro (UK) Ltd, is authorised by the Financial Conduct Authority (FCA), with Firm Reference Number 583263. It's registered under Company No. 07973792 and has its main office on the 24th floor, One Canada Square, Canary Wharf, London E14 5AB.

Digital Asset Investing Fees

For trading and investing to be successful, it is essential to understand the fee structure when using an exchange. Here are some potential fees that customers should be aware of: 

  • Trading Spreads: The fees associated with buying and selling assets. eToro typically uses variable spreads, less than 1% for cryptocurrencies.
  • Deposit Fees: Depending on the method used to deposit GBP, there may be associated costs. According to our research, bank transfers and Faster Payments are the most cost-effective payment methods, whereas debit and credit card transactions may incur fees exceeding 2%.
  • Withdrawal Fees: The fees associated with withdrawing funds vary by coin. For example, Bitcoin withdrawals typically incur a fixed fee of 0.0005 BTC.

If you are a Starling Bank customer, eToro provides a great balance of FCA registration, a diverse selection of assets, and low fees. Combined, this makes it a solid investment platform for digital currencies.

What is Starling Bank?

Starling Bank is a prominent challenger bank in the UK, founded by Anne Boden in 2014. Operating primarily via its mobile application, this London-based institution has become an appealing alternative to traditional high-street banks. It provides comprehensive personal and business banking services, including specialised Euro accounts.

Marking several milestones in its journey, the bank obtained its license in 2016, followed by the launch of personal and business accounts. Strategic partnerships, like those with Wise and the Post Office, have enhanced its service offerings. By 2022, the institution made headlines as the first challenger bank to achieve profitability, attributing a substantial portion of this success to its venture into the mortgage arena.

Starling Bank.
Starling Bank: Home Page.

Final Thoughts

To recap, Starling allows GBP deposits and withdrawals to and from FCA-registered platforms like eToro. We recommend this platform as it ensures a safe and legal trading environment for a wide variety of cryptocurrencies, stocks, and ETFs. For customers planning to leap into digital asset markets, eToro is well-suited due to its affordable fee structure, multiple asset classes, user-friendly interface, live customer support and fast deposits in British Pounds.