In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not support direct bank transfers. If you wish to fund your Polymarket account using a bank transfer, the process involves sending sterling to a UK-regulated crypto platform via Faster Payments, exchanging it for USDC, and then transferring USDC to your self-custody wallet. This approach generally incurs lower costs compared to using a debit card.
Best UK Exchanges for Bank Transfer → USDC
- Coinbase UK: Accepts Faster Payments, zero-cost GBP inbound transfers, 0.5–1% spread on conversion
- Kraken: SEPA and Faster Payments available for GBP, tight USDC pricing
- Revolut: Instant peer-to-peer transfers, reduced conversion margins on Premium and Metal subscriptions
- Wirex: Supports sterling deposits, exchanges to USDC with tight spreads
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Send sterling via Faster Payments to your preferred exchange (typically completed within minutes)
- Step 2: Acquire USDC on the Polygon blockchain (alternatively, purchase USDC on Ethereum and use a bridge, though this is less optimal)
- Step 3: Send USDC from the exchange to your MetaMask account on Polygon
- Step 4: Move funds from MetaMask into your Polymarket position
How Long Does a Bank Transfer Take?
Faster Payments in the UK settle at most crypto exchanges in a matter of minutes, rarely exceeding 2 hours. After your funds arrive, completing the remaining steps—purchasing USDC, moving it to your wallet, and depositing into Polymarket—typically requires fewer than 10 minutes. From the moment you initiate the bank transfer to when you can begin trading, expect a window of roughly 3 hours or less.
Fees Comparison: Bank Transfer vs Debit Card
In most cases, bank transfer proves more economical. The majority of platforms impose zero charges for Faster Payments deposits, whereas debit card transactions incur 1–2% in fees. When depositing sums of £500 or more, bank transfer almost invariably offers superior value.