Summary: TSB Bank does not currently provide services that allow customers to acquire cryptocurrencies directly 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 (FCA) in the United Kingdom.
After conducting extensive research, we believe eToro to be an excellent choice for TSB Bank customers. It supports fast GBP deposits, which can be used to obtain and trade more than 3,000 assets, which include cryptocurrencies, stocks, commodities, and ETFs. eToro is also registered with the FCA and provides a secure and trusted investing environment.
- A reputable trading platform founded in 2007, regulated and serving millions worldwide.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant GBP deposits from TSB Bank via FPS, bank transfer and debit card.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
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 registration, thousands of tradable assets, and competitive fees. It allows GBP deposits through multiple payment methods, including bank transfer, FPS, debit card, Skrill, 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 supervised by the Financial Conduct Authority. Our recommended option, eToro (UK) Ltd., is fully registered with the FCA, under Firm Reference Number 583263. It is registered in England under company number 07973792, and its 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%.
- 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, the bank 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 a focus on customers. 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 registered with 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.
