Summary: Santander Bank does not provide integrated functionality for direct cryptocurrency purchases. We advise using regulated investment platforms for those who are eager to invest in the world of digital assets. Although Santander doesn't provide a direct trading feature, the bank permits transfers of British pounds to a number of exchanges that have received approval from the Financial Conduct Authority (FCA). 

After thorough research, our conclusion is that eToro is the most reliable platform for this purpose. The exchange is registered with the FCA and provides Santander Bank customers with fast GBP deposits in a safe trading environment. It gives British investors access to a variety of assets, including over 4,500 digital currencies, stocks, commodities, and ETFs, all with reasonable fees. eToro has a user-friendly interface that is perfect for beginners with unique features like a demo account and copy trading services.

Table of Contents

Can I Buy Bitcoin with Santander?

Yes, customers of Santander are able to transfer GBP to recognised cryptocurrency exchanges in the UK. Once the deposit has been processed, investors can begin building their portfolios by purchasing or trading digital assets, including Bitcoin and Solana. To clarify, the bank does not directly facilitate investments through its interface but approves transactions to regulated platforms. We recommend using one overseen by the Financial Conduct Authority (FCA) for ensuring regulatory compliance.

How to Buy Crypto with Santander

The best way for Santander Bank account holders can buy, sell, and trade Ethereum and other digital assets is through a reliable exchange. eToro's FCA registration and access to more than 4,500 different cryptos, stocks, ETFs, and other products make it an ideal platform for this purpose. Deposits made in GBP are accepted through multiple channels, such as bank transfers, debit cards, and FPS. 

Begin trading thousands of tokens by following this simple guide:

  1. Registration: Create an eToro account and complete the identity verification steps.
  2. Choose Currency: Tap ‘Deposit Funds,’ pick ‘GBP’ as your currency, and pick a payment method.
  3. Add Funds: Complete the transfer of funds from your Santander account.
  4. Purchase Crypto: Go to the search bar, find your desired asset, and finalise your transaction.
How to Buy Crypto with Santander.
Buy Crypto with Santander via eToro.

Santander Bank Cryptocurrency Policy

Santander Bank promotes financial exploration in accordance with all applicable laws, in keeping with its innovative approach to cryptocurrencies. Our recommended platform, eToro (UK) Ltd, is registered under company number 07973792 and has its headquarters at One Canada Square, Canary Wharf, London, E14 5AB. It is registered with the Financial Conduct Authority (FCA) under Firm Reference Number 583263, providing a secure and compliant environment for trading digital assets. 

Digital Asset Investing Fees

It is important to understand the fee structure before making any purchases or sales of digital assets on exchanges. Here is a brief overview of potential costs you may face when utilising a crypto investment platform:

  • Trading spreads: These are the expenses incurred when buying and selling cryptocurrencies. eToro usually charges variable spreads, which is typically 1%.
  • Deposit Fees: The fee for making a GBP deposit varies depending on the method. While debit and credit card fees may exceed 2%, bank transfers and Faster Payments are advised as reasonable alternatives.
  • Withdrawal Fees: Depending on the cryptocurrency, different withdrawal fees apply. A fixed fee of 0.0005 BTC is required on the majority of platforms, for instance, to withdraw Bitcoin.

Customers of Santander Bank who are conscious of costs can take advantage of eToro's competitive fee structure and wide range of asset classes in full compliance with FCA rules.

What is Santander Bank?

Santander is a British bank owned by the Spanish Santander Group. In 1988, the bank established its first presence through a fifteen-year partnership with The Royal Bank of Scotland. It acquired Abbey National in 2004, marking the start of its direct commercial activity. The bank functions independently, with a local management team that is solely accountable for the company's operations in the country. 

It is one of the largest providers of mortgages and savings accounts in the United Kingdom. Currently, it has 64 corporate business centres and 14 million active users, employing around 20,000 people. Customers' satisfaction with the quality of support placed Santander second among the top high-street banks in a survey.

Santander Bank
Santander Bank.

Final Thoughts

To conclude, Santander Bank provides customers with easy access to resources for investigating the digital asset landscape. Customers can take advantage of a safe and legal trading environment with GBP transfers to FCA-registered platforms like eToro. Due to its distinctive features, reasonable fees, fast GBP deposits, wide range of asset classes, and live customer service, it is a great option for investors in the United Kingdom.