In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not currently support direct bank transfers. To fund your Polymarket account using a bank transfer, the process involves depositing GBP to a UK-compatible crypto platform via Faster Payments, exchanging it for USDC, and then transferring USDC to your personal 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 deposits, 0.5–1% conversion margin
- Kraken: GBP via SEPA or Faster Payments, tight USDC conversion margins
- Revolut: Seamless transfers within the app, reduced conversion costs on Premium and Metal tiers
- Wirex: Accepts GBP deposits, competitive USDC conversion pricing
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Transfer GBP using Faster Payments to your selected exchange (normally processes instantly)
- Step 2: Acquire USDC on the Polygon network (alternatively, purchase 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 minutes (seldom exceeding 2 hours). Following settlement, completing the remaining steps (purchasing USDC, moving it to your wallet, and depositing to Polymarket) takes approximately 10 minutes or less. The entire journey from initiating your bank transfer to placing your first trade usually completes within 3 hours.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfers generally offer superior cost efficiency. Most platforms impose no charge for Faster Payments deposits, whereas debit card transactions typically incur 1–2% in fees. For transactions exceeding £500, the bank transfer method proves substantially more economical.