Yes, it is possible to buy crypto with TSB Bank. However, there are a few things to keep in mind before doing so. First, TSB Bank does not currently support buying crypto directly through their bank accounts.
Instead, customers will need to set up an account with a third-party exchange like eToro UK that supports TSB Bank deposits.
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How to buy Crypto with a TSB Bank account
The easiest way to buy Cryptocurrency or Bitcoin with a TSB Bank account is through eToro UK. They offer fast and cheap GBP deposits from TSB Online Banking to buy and sell Cryptocurrencies, Stocks, ETFs, Commodities, and more on their regulated platform.
You can connect your TSB Online account by following this guide:
Step 1: Sign up to the eToro UK platform and verify your account.
Step 2: Select the 'Deposit Funds' button at the bottom left of your screen.
Step 3: Select 'GBP' as your fiat deposit method and 'Bank Transfer' as your payment method.
Step 4: You will then be given unique direct deposit details by eToro to conduct a bank transfer. Sign in to your TSB Online Banking account and deposit GBP into the details provided. The image below is an example and may not reflect your details.
Step 5: Once your funds have loaded, find the asset you want to buy on the eToro trading platform and execute your trade. You can read our eToro Review for more information.
Is TSB Bank Crypto-Friendly
TSB is a cryptocurrency-friendly bank that allows its customers to deposit and withdraw GBP into regulated platforms. TSB Bank does not have any policies that prohibit its customers in any way from buying or selling digital currencies.
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 Any article you read discussing that is likely outdated.
TSB Bank Digital Asset Disclosures
TSB Bank does warn customers about the risks associated with buying crypto. Cryptocurrencies are a highly volatile asset class and prices can fluctuate rapidly. TSB Bank does not provide any investment advice and customers should do their research before investing.