Summary: TSB, similar to other major UK banks, does not provide direct cryptocurrency investment services through its online banking portal. To invest in digital assets like Bitcoin, customers must use an exchange that is licensed by the Financial Conduct Authority (FCA).
For TSB customers, Uphold is a recommended platform since they are London-based and offer free and immediate GBP deposits. Uphold is also recognized for its transparency and security and provides audited proof of reserves to show that user funds are always held 1:1 on the exchange.
Best Crypto Exchange for TSB Bank Customers
- Buy and sell over 250 Cryptocurrencies with zero trading fees.
- Free and Instant GBP deposits via Bank Transfer and SEPA.
- Regulated and Licensed by the Financial Conduct Authority (FCA).
Can I Buy Crypto with TSB?
Absolutely, TSB Bank allows its customers to send British Pounds (GBP) and other currencies from their bank accounts to FCA-certified cryptocurrency exchanges in the UK. However, TSB Bank doesn't offer any specific products or services for directly buying or selling digital assets through their online banking system. Consequently, customers must rely on a regulated external exchange to invest in digital assets using their TSB Bank accounts.
How to Buy Bitcoin and Crypto with TSB Bank
The most secure and straightforward way to buy cryptocurrencies such as Bitcoin with a TSB Bank account is to use Uphold. TSB customers can deposit GBP to Uphold through various payment methods like Bank Transfers, SEPA Transfers, Credit & Debit Card, Apple Pay or Google Pay. Uphold is a London-based exchange that is FCA-licensed and offers over 250 crypto assets for users to trade.
You can get started within minutes with this short, simple guide.
- Sign Up: Create a free account on Uphold and complete the verification process.
- Connect Account: Select GBP as the fiat currency you wish to deposit on Uphold.
- Deposit Funds: Connect your TSB Bank account to quickly deposit pounds.
- Buy Crypto: Find the Cryptocurrency you want to buy and execute your trade.
Is TSB Bank Crypto-Friendly?
Yes, TSB is a Cryptocurrency-friendly bank that allows its customers to deposit and withdraw GBP to FCA-regulated platforms like Uphold. TSB Bank does not have any policies that prohibit its customers in any way from buying or selling digital currencies with the funds in their bank accounts.
It is important to note that TSB did ban cryptocurrency use by their customers in 2021, but it has since been lifted. Any article you read discussing that is likely outdated.
About TSB Bank
TSB Bank is a UK-based financial institution that offers a range of banking services to personal, business, and corporate customers. Its history can be traced back to 1810 when the Savings Bank of Glasgow was founded. In 1995, the bank merged with Lloyds TSB and became known as Lloyds TSB Scotland. In 2013, the bank was rebranded as TSB Bank following its separation from Lloyds Banking Group.
The bank has over 600 branches across the UK and employs more than 4,000 people. It also has a wide network of ATMs across the UK and also offers its customers mobile and online banking services. The bank's mobile app allows customers to manage their accounts, make payments and transfer money.
In conclusion, while TSB Bank does not offer direct cryptocurrency investment options through their online banking platform, customers can still invest in digital assets by utilizing FCA-licensed exchanges like Uphold. Uphold stands out as a recommended choice for TSB customers due to its London-based operations, free and immediate GBP deposits, and commitment to transparency and security. As a crypto-friendly bank, TSB Bank enables customers to deposit and withdraw GBP to regulated platforms, ensuring a safe and straightforward experience for those looking to invest in cryptocurrencies.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.