Being a user of financial services in the UK can get confusing lately because of Brexit situation. Some products become unavailable, others appear.
Bitcoin trading is a space as volatile as the Bitcoin rate itself. Just the same way though it gives a lot of opportunity. Here’s a list of services that allow you to send Bitcoin to a UK bank account:
If you are interested in transferring Bitcoin to bank account frequently and with low fees, you need to look at the Wirex ecosystem.
Wirex is a robust startup that:
Their ecosystem consists of an app and a web interface and it’s all pretty simple – deposit, withdraw, convert and exchange currencies (), and issue a prepaid debit card if you wish.
UK residents can connect a bank account and transfer their funds using the FPS (Fast Payments System). Both deposits and withdrawals are free.
Definitely try Wirex if you need to withdraw Bitcoin to a UK bank account.
2) Coinbase UK
Coinbase is the go-to website for buying Bitcoin in the US, and it’s a large centralized exchange that serves worldwide customers. The UK section of the site will also work if you need to withdraw your Bitcoin to a UK bank account.
Each withdrawal will cost you £1 and you need to be verified in the system before attempting to withdraw.
Regarding the Wirex vs Coinbase for UK bank withdrawals – Wirex charges a flat £1 monthly fee but the withdrawals to the bank account are free. Coinbase also does not issue any prepaid cards for UK and the inter-currency exchange rate can be not too good. Additionally as a large company Coinbase has been problematic in terms of customer support or speed of document approval.
Use Coinbase if Wirex would not work for you for some reason.