Summary: TSB Bank does not currently provide services that allow customers to directly acquire cryptocurrencies through its interface. We advise those interested in entering the world of digital assets to utilise a reputable and secure trading platform. The bank allows wire transfers to exchanges licensed by the Financial Conduct Authority in the United Kingdom.
After conducting extensive research, we believe eToro to be an excellent choice for TSB Bank customers. It supports instant GBP deposits, which can be used to obtain or trade more than 3,000 assets, which includes cryptocurrencies, stocks, commodities, indices, forex, and ETFs. eToro is also overseen by the FCA and provides a secure trading environment.
- Financial Conduct Authority (FCA) registered broker with over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant GBP deposits from TSB Bank via FPS, bank transfer and credit card.
Don’t invest unless you’re prepared to lose all the money you invest.
Can I Buy Bitcoin with TSB Bank?
Absolutely, TSB allows customers to transfer GBP from their bank accounts or cards to approved cryptocurrency platforms in the UK. Following the successful deposit of your funds, you will be able to begin swapping your pounds for a variety of digital assets, including Bitcoin and Chainlink. To ensure the safety of your transactions, we recommend conducting them through exchanges regulated by trusted bodies such as the Financial Conduct Authority (FCA).
How to Buy Crypto with TSB Bank
Customers of TSB Bank who want to buy Solana, Ethereum, and other assets can do so safely and efficiently through a digital currency exchange. Our expert team identified eToro as the top option, thanks to its FCA regulation, thousands of tradable assets and competitive fees. It allows GBP deposits through multiple payment methods, including bank transfer, FPS, credit card, Skrill, PayPal and more.
Start trading Bitcoin and other crypto assets by following these easy steps:
- Create Account: Create an eToro account and finish the identity verification procedure.
- Choose Currency: After clicking "Deposit Funds", select "GBP" as your deposit currency.
- Transfer Funds: Begin the transfer of funds from your TSB bank account or card.
- Buy Cryptocurrency: Find your desired token in the search bar, choose it, and complete your transaction.
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TSB Bank Cryptocurrency Policy
TSB Bank promotes financial innovation while strictly adhering to all applicable compliance regulations, taking a positive outlook on cryptocurrencies. It allows its customers to invest through trustworthy platforms. Our recommended option, eToro (UK) Ltd., is fully authorised and supervised by the FCA, with Firm Reference Number 583263. It is registered in England under company number 07973792, and its registered office is at One Canada Square, 24th floor, Canary Wharf, London E14 5AB.
Digital Asset Investing Fees
When trading digital assets, it is critical to comprehend the fee structures involved in order to get the best performance from your investments. Here's a brief rundown of the main costs that you may face:
- Trading Margin: These are expenses related to buying and selling cryptocurrencies. The spreads on eToro are typically 1% or lower.
- Deposit Fees: Depending on the method selected, there may be fees associated with making a GBP deposit. Typically more affordable options include bank transfers and Faster Payments.
- Withdrawal Fees: Withdrawal fees vary according to the token. For example, Bitcoin incurs a fixed transaction fee of 0.0005 BTC.
TSB Bank customers will likely find eToro's assortment and competitive fee structure more beneficial compared to other platforms in the market like Coinbase, which can charge as much as 5% on transactions.
What is TSB Bank?
TSB Bank has a long history. dating back to the 19th century. Initially founded as the Trustee Savings Bank in 1810, it was created to offer banking services to the working population, focusing on secure savings and dependable financial services. Over the decades, the bank has seen various mergers and ownership changes, with its most recent separation from Lloyds Banking Group in 2013, marking a significant milestone in its history.
Today, TSB operates with a commitment to serve local communities and provide a range of financial products, from current accounts to mortgages. It is well established on high streets across the UK, emphasising transparency and customer-centricity. The bank continues to evolve in response to modern banking demands, balancing its rich legacy with innovation to cater to a new generation of customers.
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Final Thoughts
To recap, although TSB Bank does not directly facilitate cryptocurrency trading, it permits GBP transfers to platforms regulated by the Financial Conduct Authority (FCA). eToro stands out as an excellent choice for customers looking to explore the diverse arena of digital asset trading, given its competitive fees, a wide range of offerings, social features, and support for instant GBP deposits.
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.
