Barclays Bans Credit Card Crypto Purchases Starting June 27

Crypto

Barclays Bans Credit Card Crypto Purchases Starting June 27

Barclays has confirmed it will block all cryptocurrency transactions made using its credit cards starting June 27, 2025, citing financial and consumer protection risks.

The decision applies to Barclaycard holders, who will no longer be able to use their cards to buy digital assets from that date onward.

According to a statement from the bank, the move is intended to protect customers from the potential volatility of crypto assets and the financial harm it can cause. “A fall in the price of crypto assets could lead to customers finding themselves in debt they cant afford to repay,” the bank explained. Additionally, Barclays emphasized that crypto-related purchases are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme, which typically protect consumers in more traditional financial transactions.

This decision builds on Barclays broader stance on crypto, following earlier restrictions placed on payments to exchanges such as Binance. The latest step, however, makes it clear that no crypto-related transactions will be permitted using Barclays-issued credit cards, regardless of the platform or asset involved.

The bank encouraged customers to visit the UK Financial Conduct Authority (FCA) website to better understand the risks associated with digital assets. As crypto regulation tightens across the UK, Barclays position mirrors that of several other major financial institutions adopting a more cautious, protective approach.

While crypto remains popular among UK investors, this policy change may signal increased banking friction for retail users seeking easy access to digital assets through traditional financial rails.