In this guide
Can You Fund Polymarket via Bank Transfer?
Polymarket does not support direct bank transfer deposits. To fund your Polymarket account using a bank transfer, you must first send GBP to a UK-based crypto platform via Faster Payments, exchange it for USDC, and then transfer the USDC to your self-custody 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-cost GBP deposits, 0.5–1% conversion margin
- Kraken: GBP via SEPA or Faster Payments, tight USDC conversion spreads
- Revolut: Instant peer-to-peer transfers, reduced conversion costs for Premium or Metal subscribers
- Wirex: Enables GBP inflows, exchanges to USDC at attractive spreads
Step-by-Step: Bank Transfer to Polymarket
- Step 1: Move GBP via Faster Payments to your selected platform (normally processed instantly)
- Step 2: Acquire USDC on the Polygon blockchain (alternatively, purchase USDC on Ethereum and bridge it across — though this is less optimal)
- Step 3: Send USDC to your MetaMask account on Polygon
- Step 4: Transfer funds from MetaMask into your Polymarket wallet
How Long Does a Bank Transfer Take?
Faster Payments in the UK typically settle at the receiving exchange within minutes (rarely exceeding 2 hours). After arrival, completing the remaining steps (acquiring USDC, transferring out, and depositing to Polymarket) requires fewer than 10 minutes. End-to-end, from initiating your bank transfer to being ready to place trades: normally 3 hours or less.
Fees Comparison: Bank Transfer vs Debit Card
Bank transfers tend to offer superior economics. Most platforms levy no charge for Faster Payments deposits, whereas debit card transactions incur 1–2% surcharges. For transactions over £500, bank transfer consistently delivers better value.