Brits will no longer be able to buy cryptocurrency using their Barclaycard credit cards starting later this week.
In a notice on its website, Barclays states: “From 27 June 2025, we’ll block crypto transactions made with a Barclaycard because we recognize there are certain risks associated with purchasing cryptocurrencies.”
These risks include the potential for a decline in the value of crypto assets, which could lead customers into debt they cannot afford to repay. Additionally, Barclaycard emphasizes that cryptocurrency purchases lack protections; they are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme.
HSBC and Nationwide banned crypto purchases with credit cards back in 2023.