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 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 typically carries lower costs compared to card-based funding methods.
Best UK Exchanges for Bank Transfer → USDC
- Coinbase UK: Accepts Faster Payments, zero-cost GBP inbound transfers, 0.5–1% spread on USDC pairs
- Kraken: GBP via SEPA or Faster Payments, tight pricing on USDC conversions
- Revolut: Seamless internal transfers, reduced conversion costs for Premium and Metal subscribers
- Wirex: Supports GBP deposits, offers competitive rates when converting to USDC
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Send GBP via Faster Payments to your selected exchange (typically completes instantly)
- Step 2: Acquire USDC on the Polygon chain (alternatively, purchase USDC on Ethereum and use a bridge — though less optimal)
- Step 3: Move USDC from the exchange to your MetaMask account on Polygon
- Step 4: Transfer funds from MetaMask into your Polymarket position
How Long Does a Bank Transfer Take?
Faster Payments in the UK settle at receiving exchanges in a matter of minutes (typically 2 hours or less). Once the GBP arrives, purchasing USDC, moving it to your wallet, and depositing into Polymarket each take fewer than 10 minutes. From the moment you initiate the bank transfer to when you can begin trading: generally less than 3 hours.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfers tend to be more economical. Most platforms impose no fee for Faster Payments deposits, whereas card transactions typically incur 1–2% charges. When depositing £500 or more, the bank transfer method almost invariably proves more cost-effective.