6 of the 80 exchanges we track accept Faster Payments deposits, ranked by CWR Score. The list below is checked against your country.
Every exchange below lists Faster Payments among its deposit methods in the CryptoWinRate database. The list checks each venue's restricted-country list against your location. Change it if we got it wrong.
Exchanges with a CWR Score of 7 or higher and no security incident in the last 12 months.Every exchange that accepts Faster Payments.Exchanges licensed under the EU’s MiCA rules.
Pick a different country above, or browse all reviews.
Also accepting Faster Payments, but restricted in your country: Bybit, Bitstamp, KuCoin, Phemex, Paybis, Bitrue,
Faster Payments is the UK’s instant bank transfer scheme. It moves pounds sterling between UK accounts in seconds, at any hour, on any day, and almost every British bank and building society is reachable through it. When your banking app offers to send money to another UK account now, this is the rail underneath.
Paying an exchange this way means pushing money from your own banking app to the account details the exchange gives you. You need a UK bank account in pounds and the recipient’s sort code, account number and reference. You are not handing card numbers to the exchange. The trade-off is that the payment is irrevocable once accepted, so there’s no chargeback if something goes wrong.
The list at the top of this page shows which exchanges take Faster Payments.
Faster Payments is run by Pay.UK, the recognised scheme operator, with the core infrastructure supplied by VocaLink. It launched on 27 May 2008, created to give the UK a near-instant alternative to the older Bacs system, which took three working days to settle.
From 1 May 2018, oversight passed to Pay.UK. In February 2022 the per-transaction ceiling was raised to £1 million. By 2024 the scheme processed around 5.1 billion transactions worth £4.2 trillion a year, making it the UK’s dominant real-time payment rail. For anyone paying an exchange, what matters is that it settles in seconds, round the clock, and that payments can’t be pulled back once they’re through.
Pay.UK, which runs Faster Payments, is a payments infrastructure and standards body. It does not offer any consumer financial products, so you can’t buy or hold cryptocurrency through it, and there’s no app of its own for that.
It has also published no policy aimed at payments to crypto exchanges. The scheme is neutral about what a payment is for: it moves sterling between UK bank accounts regardless of what the recipient does with the funds. Any restriction on paying a crypto business comes from your own bank, not from the scheme. Several UK banks limit or block such payments, some capping them at a low daily figure and some refusing outright. That sits on your side of the transaction, and no exchange can lift it.
A Faster Payments deposit usually reaches your exchange account within minutes, at any time of day, including weekends and bank holidays. The receiving bank typically credits the account within seconds, and the sending bank’s response cycle completes within 15 seconds.
Delays past a few hours normally mean a missing or wrong reference, or a check at one end, rather than the scheme itself. A first payment to a new payee can also be held back by your own bank as an anti-fraud measure. Because payments are irrevocable once accepted, there’s no chargeback if something goes wrong, so get the details right before you send.
Faster Payments is normally free to send from a UK current account. Pay.UK publishes no consumer fee schedule; any charge comes from your own bank rather than the scheme.
The exchange may add something on top. Some charge a deposit fee for taking pounds, and an instant buy often carries a wider price than placing your own order on the market. A venue that accepts sterling but converts on arrival can cost you more than its fee schedule suggests. Check the full cost on the confirmation screen, including any spread, before you confirm.
The scheme’s own ceiling is far higher than anything you are likely to hit. The limit that binds is your bank’s, and it is often lower for a brand-new payee, for a first payment, or for payments the bank classifies as crypto-related.
Many banks also apply a delay to the first payment to a new payee, anything from a few minutes to 24 hours, as an anti-fraud measure. That is normal and resolves itself; sending a small test payment first is a sensible habit for exactly this reason.
If your bank asks you to confirm the purpose of the payment through the app, answer accurately. Choosing an unrelated reason to get past the prompt can flag the account.
Compare exchanges that take Faster Payments on a few points. Look at the total cost shown before you confirm, not just the advertised fee. Check how long account verification takes, whether you can withdraw back to Faster Payments as well as pay in, and which coins you can buy. It helps if the venue holds a genuine pounds account rather than converting on arrival. Weigh its security record too. The list at the top of this page shows which exchanges accept Faster Payments; use it as your starting point.
Yes. Pay from a UK account in your own name that matches your exchange account. Paying from someone else’s account usually gets the deposit held or returned, because the names don’t match.
The scheme supports payouts as well as pay-ins, so refunds and withdrawals can run on it. Whether a given exchange offers Faster Payments withdrawals varies, so check before you deposit.
A payment that fails instantly with a generic error is usually your bank’s crypto policy, not the exchange. Money sent from someone else’s account, or without the reference, can arrive unallocated and may be returned.
No. It is a sterling-only domestic scheme. Euro payments go through SEPA, and other currencies through a SWIFT wire.
Yes. Speed and allocation are separate. Without the reference the money arrives but is not matched to your account.
Check what else it accepts, such as a card payment or another bank transfer method. For euro or international funding you would need SEPA or a SWIFT wire instead.
In the EU, Bybit serves customers through a separate platform, Bybit EU, which is licensed under MiCA.
Not in ? · Affiliate-disclosed
