In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not accept bank transfers as a direct funding method. To add funds to your Polymarket account using a bank transfer, you must first transfer GBP to a UK-regulated crypto exchange via Faster Payments, exchange it for USDC, and then send USDC to your personal wallet. This approach typically carries lower costs compared to using a debit card.
Best UK Exchanges for Bank Transfer → USDC
- Coinbase UK: Accepts Faster Payments, zero-cost GBP deposits, 0.5–1% conversion margin
- Kraken: GBP SEPA and Faster Payments available, tight USDC conversion margins
- Revolut: Same-day internal transfers, reduced conversion costs on Premium and Metal subscriptions
- Wirex: Supports GBP deposits, offers USDC conversion at favourable rates
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Send GBP using Faster Payments to your exchange account (typically instant)
- Step 2: Purchase USDC on the Polygon network (alternatively, buy USDC on Ethereum then bridge across — though this is less efficient)
- Step 3: Transfer USDC to your MetaMask wallet on Polygon
- Step 4: Move funds from MetaMask into Polymarket
How Long Does a Bank Transfer Take?
Faster Payments in the UK reach the exchange in a matter of minutes (normally within 2 hours). Following arrival, the remaining steps (purchasing USDC, transferring out, and depositing to Polymarket) complete in roughly 10 minutes. From the moment you initiate your bank transfer to when you can start placing bets: usually around 3 hours or less.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfer typically offers superior fee economics. The majority of platforms impose no charge for Faster Payments deposits, whereas debit card transactions incur 1–2% surcharges. For transactions exceeding £500, the bank transfer method is virtually always the more economical choice.