In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not accept bank transfers as a direct funding method. To fund your Polymarket account through bank transfer, you must first transfer GBP to a UK-compatible crypto exchange using Faster Payments, exchange it for USDC, and then send USDC to your wallet address. This approach typically carries lower costs compared to using debit cards.
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: Same-day internal transfers, reduced conversion costs on Premium and Metal accounts
- Wirex: Accepts GBP deposits, offers competitive USDC conversion pricing
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 network (alternatively, purchase USDC on Ethereum and bridge it — though this is less optimal)
- Step 3: Transfer 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, rarely exceeding 2 hours. After arrival, the remaining steps—purchasing USDC, transferring it out, and depositing to Polymarket—require fewer than 10 minutes. From the moment you initiate the bank transfer to when you can begin trading on political markets, the entire process usually takes under 3 hours.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfer generally offers superior cost efficiency. The majority of exchanges levy no charge for Faster Payments deposits, whereas debit card transactions incur 1–2% in fees. For transactions exceeding £500, bank transfer is nearly always the more economical choice.