In this guide
Does Polymarket Support Open Banking in the UK?
Polymarket does not natively support UK Open Banking. However, several UK crypto exchanges that bridge GBP to USDC do support Open Banking for instant, fee-free deposits. This makes the GBP → USDC → Polymarket pipeline faster and cheaper than traditional bank transfers.
Exchanges Using Open Banking for GBP Deposits
- Coinbase UK: Supports Open Banking via Plaid for instant GBP deposits — no fee
- Kraken: Open Banking integration for GBP (selected UK banks)
- Revolut: Internal transfers are effectively instant; Open Banking not required
How to Use Open Banking to Fund Polymarket
- Step 1: On Coinbase UK, select "Add funds" → "Open Banking"
- Step 2: Authenticate with your bank (Barclays, HSBC, Lloyds, Monzo, etc.)
- Step 3: Transfer GBP — arrives at Coinbase instantly (typically under 60 seconds)
- Step 4: Buy USDC on Polygon network
- Step 5: Withdraw to MetaMask → deposit to Polymarket
Benefits of Open Banking vs Traditional Bank Transfer
Open Banking deposits are often instant (versus 2 hours for standard Faster Payments), have no exchange deposit fee, and require no manual sort code / account number entry — reducing error risk.
Which UK Banks Support Open Banking for Crypto?
Most major UK banks support Open Banking via the FCA-mandated PSD2 framework: Barclays, HSBC, Lloyds, NatWest, Santander, Monzo, Starling, and Revolut all support Open Banking authentication.