How to Buy Crypto with NatWest [2023] | Step-by-Step

Summary: NatWest doesn’t offer customers the chance to buy cryptocurrencies on its own platform. Instead, NatWest customers can connect their banking accounts to a Financial Conduct Authority (FCA) licensed cryptocurrency broker to buy digital assets like Bitcoin (BTC) and Ethereum (ETH). 

In short, to buy crypto with NatWest, investors in the UK will need to sign up with an FCA-regulated crypto exchange like eToro and deposit GBP from their NatWest bank account.

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Intermediate Traders and Investors

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Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Can you buy crypto with NatWest? 

You can buy crypto with NatWest, but you need to connect to an FCA-licensed cryptocurrency exchange. As mentioned above, this is because NatWest does not offer cryptocurrency services directly through its online banking platform.

How to buy crypto with NatWest?

The best way to buy Bitcoin or any other cryptocurrency with a NatWest Bank account in the UK is through an FCA-regulated broker like eToro, which is a licensed and widely trusted digital asset platform with over 70 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy crypto with NatWest: Step-by-Step

You can get started in minutes with four simple steps:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the GBP amount you want to deposit on the eToro platform;
• Step 3: Connect your NatWest account to deposit your selected fiat currency;
• Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Get Started

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

About NatWest

National Westminster Bank, commonly known as NatWest, is a leading retail and commercial bank based in London, England. It is considered one of the Big Four banks in the UK and boasts an extensive network of over 960 branches, offering a wide range of banking and financial services to both individuals and businesses.

Services offered by NatWest include: 

• Personal banking: Checking accounts, savings accounts, credit cards, mortgages, loans, overdrafts, and lines of credit;
• Business banking: Business checking and savings accounts, business insurance, loans, overdrafts, and lines of credit;
• Wealth management: Financial planning and investment services, including investment accounts for stocks and shares and personal pension accounts.

NatWest’s crypto policy

NatWest does not currently offer any products or services related to cryptocurrencies, and they do not accept digital currency as payment for goods or services, but the bank does allow customers to use NatWest online banking accounts or services to buy, sell and trade digital assets through regulated exchanges.

However, as of March 2023, NatWest imposed new restrictions on crypto transfers to crypto exchanges focused solely on digital asset trading amid the heightened risk of scams, limiting daily transfers to £1,000 and a 30-day payment limit of £5,000. This ban, however, will not affect transfers to investment platforms such as eToro that sell a variety of assets besides crypto. 

Moreover, NatWest is committed to keeping its customers’ needs and best interests at the forefront and will continue reviewing its policy as the crypto space evolves. Because of the increasing risk posed by fraudsters exploiting the ongoing cryptocurrency craze, the bank has decided to take proportionate action to keep their customers safe and secure. They have said to monitor fraud patterns and trends to adjust restrictions to keep clients and their funds safe and secure. 

In addition, customers have been encouraged to stay mindful of scams, with advice outlined in their Fraud Guide and FAQs section about cryptocurrency. 

How to buy crypto safely

Crypto is still the new kid in town compared to other asset classes. Indeed, many people have been scared away from investing in any digital assets because of the high amount of scams and cybercrime that target inexperienced and seasoned investors alike. 

In fact, with most cryptocurrencies, investors are unlikely to have access to protections from the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) if something were to go wrong. 

However, you can take steps to ensure you’re being careful when buying crypto. Let’s break down a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money:

• Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are; 
• Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
• Secure your account: Use two-factor authentication and a strong password to protect your account;
• Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about how to buy crypto with NatWest: