WORLDTECHLloyds, Barclays and NatWest draw most UK crypto transfer complaints
Customers have lodged more than 10,000 complaints with leading UK banks over transfers that were blocked or restricted because they were linked to cryptocurrency, according to a recent report. Lloyds, Barclays and NatWest account for nearly half of those cases.
Three lenders make up nearly half
A recent report, carried by crypto.news, found that the country's top banks received more than 10,000 customer complaints over cryptocurrency-related transfers that were held up or limited. Almost half of those complaints concern three institutions: Lloyds, Barclays and NatWest.
Scrutiny before the 2027 regime
The figures arrive as UK lenders face closer examination of the caps and outright bans they apply to crypto transfers. Stand With Crypto, which has tracked the complaints, says they number in the thousands and come ahead of the country's regulatory regime, due to take effect in 2027.
The article carrying the findings was updated with a comment from Harry Pearce Gould, General Manager of Stand With Crypto. The available facts do not set out what that comment says.
Open questions
- What reasons do the banks give for blocking or limiting these transfers?
- How do the complaint figures compare with those of UK banks not named in the report?