Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto exchange. However, that doesn’t mean you can’t use your Natwest UK account to buy crypto.
All you need is a reliable and trusted crypto trading platform. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with Natwest UK
As stated above, just like with the vast majority of UK banks, you can’t buy crypto with Natwest UK on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a crypto trading platform.
However, luckily for us, there are plenty of cryptocurrency exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
1. Choose a cryptocurrency exchange
While there are a lot of cryptocurrency trading platforms, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your Natwest UK account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy crypto
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About Natwest UK
National Westminster Bank is also known as NatWest. It is a major commercial and retail bank in the United Kingdom. In 1968, National Provincial Bank and Westminster Bank merged to create the bank. It became part of The Royal Bank of Scotland Group in 2000. The group was renamed NatWest Group by 2020. After the ringfencing the core domestic business of the bank, it became a direct subsidiary to NatWest Holdings. NatWest Markets includes the non-ringfenced investment bank arm. The British government currently controls 48.1% of NatWest Group, 54.7% in the past. This is after spending 45 Billion Pounds ($61.87B) on bailouts for the lender in 2008.
NatWest is one the UK's Big Four clearing bank. It boasts a network of more than 960 branches and over 3400 cash machines in Great Britain. They also offer 24-hour Actionline telephone support and online banking services. Today, it serves more than 7.5million personal customers and 850,000 small businesses accounts. It is represented in Northern Ireland by its Ulster Bank name. NatWest was named Best Banking App at the British Bank Awards 2017.
NatWest provides a complete range of banking, insurance, and financial services to customers from personal, business, and commercial lines. This includes the first dedicated bank account to be offered and managed entirely in Polish. Your Mortgage Magazine's Best Banks for Mortgages award has been won 13 times by the bank over the last 17 year, more than any other lender.
NatWest operates under the brand Esme Loans and offers a digital lending platform for SMEs. It is also available to customers who are not RBS or NatWest customers. Esme Loans was launched trading on February 17, 2017, following the bank's launch of its new product development programme NatWest Innovation Cell. It was created by Richard Kerton, Veronika Lovatt, and Lucy Hasson.
Converted vans are used by the bank to provide rural services in the areas of St Austell, Swansea Carlisle Devon, and North Wales. Customers can make banking transactions from remote locations without the need for a branch. The mobile service was reintroduced by NatWest in Cornwall in 2005 after HSBC had to discontinue its version because of costs.