How to buy crypto? My bank does not allow it

jjmmww1

I'd try crypto.com its an app and has buy with card no fees first 30days (only spread) or bank transfer is possible on there

robber2

Deleted_User said:

If Vodafone made an error, why didn't you complain to them and then onto the regulator to ask the default to be removed as you were advised on the last post you made? One default particularly old from a couple of years ago shouldn't stop you getting another bank account.

Wrong thread there i think Farfetch.   

[Deleted User]

jjmmww1 said:

I'd try crypto.com its an app and has buy with card no fees first 30days (only spread) or bank transfer is possible on there

I was recommended to use Crypto, you can put money on it by bank transfer, but we warned there is a minimum withdrawal of £70/80 I think and the app is very slow, so is customer service. Or at least it was a month ago.

Scottex99

Revolut is a bank in it's own right but possibly your default wouldn't flag with them or N26 or one of the Neo banks.

Not only could you buy "crypto" directly with Revolut, you could also send GBP into Binance, Coinbase, Swissborg etc, I've done it a few times. Although Binance deposits are on hold for now, will be related to the FCA news I imagine

deejaybee

I have transferred GBP from Barclays into Coinbase without any issues ( or fees )

jjmmww1

[Deleted User] said:

jjmmww1 said:

I'd try crypto.com its an app and has buy with card no fees first 30days (only spread) or bank transfer is possible on there

I was recommended to use Crypto, you can put money on it by bank transfer, but we warned there is a minimum withdrawal of £70/80 I think and the app is very slow, so is customer service. Or at least it was a month ago.

Customer service is better now should reply within 24 hrs as they cleared there backlog where they had a rush of sign ups Also i have had no problems with slowness of the app maybe just when traffic is peaked and bottlenecks the system but this tends to happen at the same time with most exchanges as something happens and people want to buy and sell

onthebench

I use Luno to buy bitcoin, you fund your account via BACS transfer which is very quick and there are no withdrawal fees. Whether HSBC would identify and block the BACS transfer is another matter.

Messiah9

Deleted_User said:

If Vodafone made an error, why didn't you complain to them and then onto the regulator to ask the default to be removed as you were advised on the last post you made? One default particularly old from a couple of years ago shouldn't stop you getting another bank account

I would have been delighted if that worked but it did not as easy as it sounds. Vodafone has been completely not cooperative and they said they even have no historical records evidence that the number is associated with me or ever was in the past.

Regarding a default from couple of years ago, as I mentioned, bank application was rejected and checked with other banks - they even advised me that my application will get rejected again for same reasons once background credit check is done.

Messiah9

Scottex99 said:

Revolut is a bank in it's own right but possibly your default wouldn't flag with them or N26 or one of the Neo banks.

Not only could you buy "crypto" directly with Revolut, you could also send GBP into Binance, Coinbase, Swissborg etc, I've done it a few times. Although Binance deposits are on hold for now, will be related to the FCA news I imagine

Yes, bank transfer to Binance sounds good. Right now I purchased some crypto in Binance using my debit card. I paid a 2% fee but at least the process was quick and convenient.

How much fee do you pay for buying crypto on Binance with a bank transfer?

Also, do you see any concerns with buying crypto on Binance in UK in near future given the concerns around regulation?

Scottex99

Messiah9 said:

Scottex99 said:

Revolut is a bank in it's own right but possibly your default wouldn't flag with them or N26 or one of the Neo banks.

Not only could you buy "crypto" directly with Revolut, you could also send GBP into Binance, Coinbase, Swissborg etc, I've done it a few times. Although Binance deposits are on hold for now, will be related to the FCA news I imagine

Yes, bank transfer to Binance sounds good. Right now I purchased some crypto in Binance using my debit card. I paid a 2% fee but at least the process was quick and convenient.

How much fee do you pay for buying crypto on Binance with a bank transfer?

Also, do you see any concerns with buying crypto on Binance in UK in near future given the concerns around regulation?

FPS is free from a UK bank but think it's disabled for now.

There's a message from Barclays going round today saying they wont be supporting card payments to Binance anymore. Plenty other decent alternatives to onramp with GBP though