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My bank blocked my payment to an exchange

The situation

Pat tried to transfer £500 to an FCA-registered exchange but the bank declined the payment.

Quick answer

UK banks may restrict crypto-related payments. Try a different payment method, contact your bank, or use another bank account. Only use FCA-registered exchanges.

What to do

  1. Confirm the exchange is on the FCA register
  2. Call your bank to ask their crypto policy
  3. Try Faster Payment from an account that allows it

Not financial or tax advice. Updated June 2026.