In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not accept bank transfers as a direct funding method. To use a bank transfer for your Polymarket account, you must first send GBP to a UK-based crypto exchange via Faster Payments, exchange it for USDC, and then transfer USDC to your personal 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 deposit charges, 0.5–1% conversion margin
- Kraken: GBP transfers via SEPA or Faster Payments, tight USDC conversion rates
- Revolut: Same-day internal transfers, reduced conversion costs on Premium and Metal subscriptions
- Wirex: Supports GBP inbound transfers, provides competitive USDC conversion pricing
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Send GBP via Faster Payments to your selected exchange (typically instant processing)
- Step 2: Purchase USDC on the Polygon network (alternatively, buy USDC on Ethereum and use a bridge — though this is less practical)
- Step 3: Move USDC to your MetaMask wallet on Polygon
- Step 4: Transfer funds from MetaMask into Polymarket
How Long Does a Bank Transfer Take?
Faster Payments in the UK typically reach the exchange in just a few minutes, rarely exceeding 2 hours. Following that, completing the purchase of USDC, moving it to your wallet, and depositing it into Polymarket takes roughly 10 minutes or less. From the moment you initiate your bank transfer to when you can begin trading, expect approximately 3 hours maximum.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfers usually offer superior cost efficiency. Most platforms levy no charge for Faster Payments deposits, whereas debit card transactions typically incur 1–2% surcharges. When depositing £500 or more, the bank transfer method is nearly always the more economical choice.