In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not support direct bank transfers. To fund your Polymarket account using a bank transfer, you must first send GBP to a UK-compatible crypto exchange via Faster Payments, exchange it for USDC, and then transfer USDC to your self-custody wallet. This approach generally carries 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% trading spread
- Kraken: Supports GBP via SEPA and Faster Payments, tight USDC market spreads
- Revolut: Instant peer-to-peer transfers, reduced conversion costs on Premium and Metal subscriptions
- Wirex: GBP inbound capability, converts to USDC at market-competitive rates
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Transfer GBP via Faster Payments to your selected exchange (typically completed instantly)
- Step 2: Purchase USDC on the Polygon blockchain (alternatively, acquire USDC on Ethereum and use a bridge, though this is less optimal)
- Step 3: Send USDC from the exchange to your MetaMask wallet on Polygon
- Step 4: Move funds from MetaMask into your Polymarket account
How Long Does a Bank Transfer Take?
Faster Payments in the UK typically settle at the exchange within a few minutes (seldom exceeding 2 hours). Following settlement, completing the remaining steps (acquiring USDC, withdrawing to wallet, and funding Polymarket) requires fewer than 10 minutes. The entire journey from initiating your bank transfer to placing your first market bet: ordinarily 3 hours or less.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfer usually offers superior cost efficiency. Most platforms impose no charge for Faster Payments deposits, whereas debit card transactions incur 1–2% surcharges. For transactions exceeding £500, bank transfer represents the more economical choice in nearly all scenarios.