How to Buy Crypto with TSB Bank
Summary: While TSB Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto exchange.
There are plenty of UK crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most UK banks, TSB Bank doesn’t offer cryptocurrency trading directly, as setting up a crypto exchange is quite complex and comes with regulations and extra requirements for the banks.
There are many crypto trading platforms that you can use for buying bitcoin and other cryptocurrencies.
You can sign up for an exchange (we will use eToro as our example because it is a trusted and worldwide exchange) and transfer funds to the exchange to trade crypto.
Table of Contents
How to buy crypto or bitcoin with TSB Bank
There are only 4 steps involved, let’s get started!
1. Choose a crypto trading platform
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
You can, of course, use any trusted crypto exchange for this, the steps will be very similar for most exchanges.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy cryptocurrency
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with TSB Bank.
About TSB Bank
TSB Bank plc, a UK retail and commercial bank, is a subsidiary of Sabadell Group.
TSB Bank has 290 branches in England, Scotland, and Wales. However, it has not been present in Northern Ireland since 1991. TSB was launched in its current form on September 9, 2013. The headquarters of TSB are in Edinburgh. They have more than 5.0million customers and over PS35 billion in loans and customer deposits. The existing Lloyds TSB Scotland plc business was transferred to the bank, where a number Lloyds TSB branches were moved to England and Wales. All branches of Cheltenham & Gloucester were also transferred. This new company is now TSB Bank plc.
The European Commission ruled that the British government's purchase of a 43% share in Lloyds Banking Group in 2009 was state aid. It required Lloyds Banking Group, which had a majority of its business, to sell TSB. TSB was listed on London Stock Exchange in June 2014 after it had been divested. It was purchased by Banco Sabadell in Spain in 2015.
Before its merger with Lloyds Bank, in 1995, the Trustee Savings Bank used the TSB name. This led to the formation of Lloyds TSB 1999.
The merger was structured to be a reverse takeover of TSB. The merger was a reverse takeover by TSB. Lloyds Bank was removed from the London Stock Exchange. TSB Group was renamed Lloyds TSB Group, in 1995. Former Lloyds Bank shareholders owned a 70% share of the capital. This was done through a scheme. After the completion of the integration process, the new bank began trading in 1999. Original TSB Bank transferred all engagements to Lloyds Bank, which changed its name to Lloyds TSB Bank. At the same time, TSB Bank Scotland absorbed Lloyds three Scottish branches and became Lloyds TSB Scotland.
In 1986, Trustee Savings Bank was renamed TSB Scotland, and in 1989, TSB Bank Scotland. It then became Lloyds TSB Scotland, in 1999. In 2013, the company was reregistered as TSB Bank. In 2014, the parent company, TSB Banking Group was registered in England. Later that year, TSB Bank ceased being part of Lloyds Banking Group.
The bank provides a wide range of financial services including current accounts, mortgages and credit products. Insurance and savings products are also available. TSB Bank has been authorized by the Prudential Regulation Authority. It is regulated by both Prudential Regulation Authority as well as the Financial Conduct Authority. It is a member the Financial Ombudsman Service, the Financial Services Compensation Scheme and subscribes the Lending Code. Visa Inc. has arranged for the bank to issue Visa Debit Cards to current customers.
Whistletree was established by TSB as a trading division that would manage the PS3.3 billion worth of mortgage assets it bought in November 2015 from NRAM plc. This "bad bank", which was formed from former Northern Rock, and NRAM plc. In July 2016, the acquisition was complete. The name of the division refers to the blue-tree branding used by TSB Bank as well as the whistling featured in its television ads. The website is separate and accessible through a separate contact center. TSB branch staff do not have access to these accounts. TSB Bank plc acquired the mortgage and loan assets of Airdrie Savings Bank in January 2017. This bank was closed on 28 April 2017. The Whistletree division also manages these assets.