Over the next few weeks, Coinbase.com customers based in the UK may experience some inconvenience while we transition our payments systems. Starting on July 31 at 12:01am BST, we will temporarily remove Faster Payments Scheme (FPS) support for domestic GBP deposits and withdrawals. This transition does not impact Coinbase Pro customers.
Coinbase is committed to enabling the most efficient, secure, and compliant fiat-to-crypto on-ramps and we will share updates about reinstating FPS in the weeks ahead.
As we work to bring back full support for FPS to our UK customers, there are several options for depositing and withdrawing customer funds on Coinbase.
To deposit funds while FPS is paused, UK customers have a number of options:
Purchase crypto directly using a debit or credit card on Coinbase.com — this is the fastest way to buy crypto;
Transfer money into your EUR wallet to buy crypto — this is known as a SEPA payment. Simply select ‘Deposit’ on your Coinbase EUR wallet to get started; or
For deposits above £10,000, transfer GBP from a UK bank to your Coinbase GBP wallet — simply select ‘SWIFT’ in the deposit menu.
UK customers also have a number of options to withdraw funds while FPS is paused:
Instantly withdraw GBP from a Coinbase.com account to a PayPal account — this is the quickest way to get GBP from your Coinbase GBP wallet into a UK bank account;
Transfer money from your Coinbase EUR wallet to a bank account — this is known as a SEPA payment and takes up to 3 business days;
Coinbase Card holders can also withdraw GBP from an ATM; or
For withdrawals above £10,000, transfer GBP from your Coinbase GBP wallet to a UK bank — simply select ‘SWIFT’ in the withdrawal menu.
We take our role as the legal, secure, and easy-to-use on-ramp to the cryptoeconomy for millions of people around the world seriously. Coinbase takes a long-term view in every market we enter. We often forge new paths, break new ground, and find ways where others couldn’t to offer crypto to customers in a secure and compliant way.
Since launching in the UK and Europe in 2014, we’ve seen tremendous growth. More UK residents than ever before are investing in cryptocurrencies. In the coming months, we intend to expand access for our UK customers to a range of new crypto assets through our and our professional trading platform, .
We are committed to serving our customers in the UK and look forward to sharing more updates in the coming weeks.
Sep 22, 2023,
4min read time
Sep 22, 2023,
3min read time
Sep 19, 2023
Today we’re launching an effort to mobilize 52 million crypto owners – younger and more diverse than the US population as a whole – into a powerful force heading into the 2024 elections with an intense focus on nine key states.