Exchange

Funding your account with GBP

All clients residing in a country Coinbase services can fund their Coinbase accounts with GBP using Faster Payments.   

Note: Coinbase currently does not support credit or debit cards, Paypal, or Omnibus Wires as payment methods for Exchange accounts.

Faster Payments

Depositing with a UK bank account

To verify your bank account, we recommend you make an initial deposit of at least £50 to your Exchange GBP wallet. Once the funds reach your account, then your bank account will automatically be verified. 

To initiate a deposit:

1. Ensure you are signed out of all other Coinbase accounts

2. On Coinbase Exchange, select Portfolio

3. On the right-hand side, select Deposit > GBP > Faster Payments

4. Follow the instructions

Note: It’s important to include the Reference Code to ensure that the deposit is correctly associated with your Coinbase account. 

Your funds will take up to 1 business day to appear in your account after you’ve sent them. 

Withdrawing to a UK bank account

Before you can withdraw GBP to your bank account, you will first need to complete a successful SEPA deposit to your Exchange account. You won't need to enter any bank credentials on Coinbase to complete verification. 

To withdraw GBP from your Coinbase account:

1. Select Portfolio after signing in

2. On the right-hand side, select Withdraw > GBP > Faster Payments

3. Select the receiving bank account under To

4. Enter the amount you’d like to withdraw

5. Confirm the amount and select Withdraw

Withdrawals typically take 1-2 business days to complete.

Please note that we are not able to accept SWIFT international wires at this time. If you send a SWIFT payment to your Exchange account, it will be automatically returned.

Deposit and withdrawal limits

Cryptocurrency deposits are unlimited, however fiat deposits are limited based on the payment method.

Fiat deposits via Faster Payments transfers are limited to 20 transactions in a 24 hour period. Faster Payments are limited to £250,000 per deposit.

Withdrawals of both cryptocurrency and fiat currency are limited. Coinbase Exchange account holders have a default withdrawal limit of £100,000 per day across all currencies. 

To be considered for higher withdrawal limits, please go to your Limits page within Coinbase Exchange and select Increase Limits.

Was this article helpful?

Can’t find what you’re looking for?

Contact us