UK customers have access to both a GBP and EUR wallet within their Coinbase account, but the wallets are funded using different payment methods.
Please note: Coinbase currently does not accept physical checks nor bill pay as a payment method to purchase cryptocurrency or to deposit funds into a user’s fiat wallet. Checks will be returned to sender upon receipt via mail, provided a mailing address is present.
To link your UK bank account, go to Settings > Linked Accounts before initiating a transfer. After you’ve linked your UK Bank Account, follow these steps to initiate a GBP deposit:
Select Accounts on the menu at the top of the page.
Select the Deposit button in the GBP Wallet.
Use the information displayed to initiate a UK bank transfer in GBP from your UK bank account. It’s important to include the Reference Code listed to ensure that the deposit is correctly associated to your Coinbase account.
In order for Coinbase to process your GBP deposit, you MUST:
Verify your UK ID and your mobile phone number in your Coinbase account.
Ensure that the name on your bank account matches the name on your Coinbase account. Corporate or institutional bank accounts are not supported unless you have completed our institutional onboarding process.
Include the reference code EXACTLY as it appears: no spaces or additional text.
Please note, there is a £250,000 limit on all deposits into Coinbase. Any deposits sent over £250,000 will be rejected including CHAPS transfers.
Before you can withdraw GBP to your UK bank account, you will need to complete an initial deposit of GBP from your bank account to your Coinbase account. Instructions for this can be found above.
To withdraw GBP from your Coinbase account, follow these steps:
Select Accounts on the menu at the top of the page
Select the Withdraw button in the GBP Wallet
Select the UK bank account you want to withdraw to, and enter the amount
Confirm the withdrawal.
Please see these instructions for using EUR bank transfers via SEPA.
Trying to withdraw from your EUR wallet to a non-SEPA bank? Please see here.
You can make a purchase with a credit or debit card if your card supports ‘3D Secure’. With this payment method, you will not have to pre-fund your account to buy. You can purchase instantly without waiting for a bank transfer to complete.
To determine if your card supports 3D Secure, please contact your credit/debit card provider directly or simply try adding it to your Coinbase account. You will get an error message if your card does not support 3D Secure. Some banks require extra security steps to authorize a purchase using 3D Secure. Some of the methods you may see will be a text message, a bank provided security card, or security questions.
To link a 3D Secure card to your account:
When logged into your account, go to Settings and select the “Linked Accounts” page
Click the ‘Link a New Account’ button at the top right
Choose ‘Credit/Debit Card’
If needed, fill in the billing address for your credit/debit card (The address must match the billing address for the card)
Enter your card information and click ‘Add Card’
You should now see a window that says ‘Credit Card Added’ and a ‘Buy Digital Currency’ button. You can now buy digital currency using the ‘Buy/Sell’ page anytime.
When you’re ready to make a purchase using your card:
Go to the ‘Buy/Sell Digital Currency’ page
Enter the desired amount
Select the card on the payment methods drop down menu
Confirm the order is correct and click ‘Complete Buy’
You may be directed to your bank’s website to confirm the purchase (Process different depending on bank)
Note: Some card issuers are blocking digital currency purchases with existing credit cards. We encourage affected customers to switch to a debit card or linked bank account instead.
If you have a credit card linked already, your bank may charge additional fees for Coinbase credit card purchases. To avoid these fees, switch to debit card or bank account.