Key takeaway: Vanquis Bank in the UK does not currently support direct cryptocurrency trading, storage, or payments to crypto exchanges through its credit cards. Similar to other high-street banks, Vanquis enforces strict anti-fraud and financial crime measures that often restrict or block transactions identified as crypto-related. However, users can still buy Bitcoin with Vanquis in the UK by funding regulated exchange accounts through alternative routes such as verified third-party payment providers or supported bank transfers. One of the most reliable and FCA-compliant options for this is Bitpanda, a leading European crypto exchange known for its user-friendly interface, instant GBP deposits, and extensive asset offerings that include over 500 cryptocurrencies, tokenised metals, ETFs, and stocks. Bitpanda’s strong security standards and UK-aligned compliance framework make it a safe and efficient platform for Vanquis users who want to begin their crypto journey without breaching bank restrictions.
If your primary bank restricts crypto payments or you’re looking to understand how Vanquis fits into the process, this guide outlines every available method, key limitations, and the most secure ways to make your first Bitcoin purchase.
Does Vanquis allow Crypto Transactions in the UK?
Vanquis Bank doesn’t currently allow direct crypto transactions in the UK, meaning you can’t use your card to buy Bitcoin or any other digital asset straight from a crypto exchange. While the bank hasn’t made a loud public statement about it, its transaction rules and fraud-prevention policies make it clear that payments linked to crypto platforms are often restricted or declined. So, if you try to buy crypto with Vanquis card, there’s a good chance the payment won’t go through. This doesn’t mean you’re completely locked out, though. It just means Vanquis isn’t designed for direct crypto activity.
Can you buy Bitcoin with Vanquis directly in the UK?
You can’t buy Bitcoin directly with a Vanquis Bank card in the UK. Vanquis doesn’t currently allow direct crypto transactions or payments to exchanges, as it follows strict financial regulations designed to prevent fraud and money laundering. This means that if you try to make a purchase on a crypto platform using your Vanquis credit card, the transaction will most likely be declined or flagged. However, that doesn’t mean you’re completely shut out. You can still buy BTC with Vanquis indirectly by using your card to fund other payment methods, like a supported digital wallet, bank transfer, or third-party platform that works with regulated exchanges such as Bitpanda. In simple terms, Vanquis acts as a traditional bank focused on security, not a gateway for crypto purchases, so you’ll need to take an extra step to make your first Bitcoin buy successfully.
How to buy BTC with Vanquis Card: 6 Simple Steps
- Create an account on a regulated exchange (like Bitpanda)
Start by signing up on a trusted, FCA-compliant platform such as Bitpanda. It’s beginner-friendly, supports GBP deposits, and meets UK regulatory standards. Just use your email address, verify it, and you’re set to begin. - Complete identity verification (KYC)
Before you can buy or deposit funds, you’ll need to verify your identity. This quick verification process usually takes just a few minutes and ensures you’re trading safely and legally. - Add a payment method that works with Vanquis
Since Vanquis may block direct crypto purchases, the trick is to use an accepted third-party payment option, such as bank transfer, Faster Payments, or e-wallets (like Skrill or PayPal, depending on what the exchange supports). You can link these to your Vanquis card or account for easy deposits. - Deposit GBP to your exchange wallet
Once your payment method is set, fund your exchange account with the amount you want to invest. Bitpanda supports instant GBP deposits through Faster Payments, meaning your money should appear in your wallet as quickly as possible. - Buy Bitcoin
After your funds reflect in your account, go to the Bitcoin (BTC) section on the exchange, enter how much you want to buy, and confirm the purchase. You’ll have your own Bitcoin, which you can hold on Bitpanda or transfer to your personal wallet for extra security. - Secure and track your investment
Once you’ve bought Bitcoin, enable two-factor authentication (2FA) on your exchange account for extra protection. Keep an eye on your BTC balance, market trends, and portfolio performance right from your dashboard or the mobile app.
Fees and Costs when Buying Crypto with Vanquis Card
Bitpanda keeps things simple by including its trading fees directly in the price you see when buying or selling crypto; this is called a premium. For most coins, the premium ranges from 0.00% to 2.49%, while Bitcoin’s rate is fixed at 0.99%. Depositing and withdrawing fiat (like GBP) is completely free, as long as you’re using one of the supported payment methods. Since the fees are built into the price, you won’t see any extra charges during checkout, though there might be a small difference between Bitpanda’s quoted price and the live market rate, known as the spread. The platform also doesn’t charge any custody or holding fees, so you can store your digital assets on the platform at no extra cost. The only additional charge comes when you transfer crypto to an external wallet, where you’ll pay the standard blockchain network fee. This varies depending on the coin and how busy the network is at that moment.
Gemini’s fees depend on how you trade and the payment method you use. If you’re buying or selling crypto instantly through the regular Gemini app, you can expect fees of around 1.49% per trade. However, if you use Gemini’s ActiveTrader platform, the fees are much lower, based on a maker-taker model that ranges from 0.00% to 0.40%, depending on your trading volume. When sending crypto to an external wallet, you’ll pay a network fee, which goes directly to blockchain validators. This fee isn’t fixed as it changes depending on how busy the network is. Gemini also provides institutional-grade custody services for large investors, which may include an annual storage fee of about 0.40%, but this doesn’t apply to regular retail users. Depositing funds via bank transfer is free, but using a debit card costs more,, around 3.49% per transaction. Withdrawals to UK or international bank accounts are typically free through standard transfers, though wire transfers might attract a flat fee of about $25.
When you buy or sell crypto on a regular platform, a small spread fee is already included in the price. If you’re trading on the advanced interface, expect maker or taker fees between 0.4% and 0.6%. Converting one coin to another also comes with a small charge, and staking rewards include a minor platform commission. Depositing or withdrawing GBP through Faster Payments is completely free, but using SWIFT costs around £1. If you’re sending crypto out, the only cost you’ll cover is the network fee set by the blockchain.
FAQs:
Is it Safe and Legal to Purchase Bitcoin with a Vanquis Card in the UK?
It’s safe and legal to purchase Bitcoin with Vanquis Bank in the UK, but only when done through authorised, FCA-regulated exchanges like Bitpanda. Vanquis itself doesn’t process direct crypto payments, but using approved funding methods such as bank transfers or trusted third-party providers keeps your transactions compliant with UK financial laws. The key is to avoid unregulated platforms or peer-to-peer deals that bypass verification checks. As long as you stick with licensed exchanges and follow KYC rules, buying Bitcoin using Vanquis-linked payment routes is completely legitimate and secure.
Can I buy Bitcoin Instantly with Vanquis or Will it Take Hours?
You can’t instantly buy Bitcoin directly with your Vanquis card because the bank blocks payments to crypto exchanges. However, if you use Vanquis card for buying crypto through other indirect means, by first funding a third-party wallet or making a Faster Payments transfer to a regulated exchange like Bitpanda, the process is still fairly quick. Verification and deposit confirmation usually take between a few minutes to an hour, depending on the method used. Once your funds reflect on the platform, purchasing Bitcoin happens instantly, giving you fast access without breaching Vanquis’ transaction restrictions.
Does Vanquis Bank Block Crypto Transactions?
Vanquis Bank does blocks crypto transactions as its system automatically flags and restricts payments linked to digital asset platforms to prevent fraud and ensure compliance with strict UK financial regulations. That’s why direct crypto purchases using a Vanquis card rarely go through. However, Bitpanda stands out as the best alternative because it’s fully FCA-compliant, transparent with its pricing, and offers secure GBP deposits through approved channels like Faster Payments. It’s beginner-friendly, fast, and trusted by millions across Europe, making it the safest route for Vanquis users to buy Bitcoin.
Conclusion
Now you know everything you need to buy Bitcoin with Vanquis in the UK, from why direct purchases are restricted to how you can safely do it using verified alternatives like Bitpanda. What this shows is that while traditional banks like Vanquis remain cautious about crypto, UK users still have practical, legal routes to enter the market without breaching any rules. The crypto market moves fast, so start small, stay informed, and treat each trade as a calculated financial decision, not a gamble.
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