Bitcoin to bank account – UK

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:

1) Wirex

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:

– was the first to release crypto debit cards in 2018
– offers the best prepaid Bitcoin card for UK
– offers the only functional crypto cashback program in the world

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.

Some apps have similar services but most just rip you off in fees, e.g. see our Spectrocoin vs. Wirex or Revolut vs. Wirex comparison reviews.

Definitely try Wirex if you need to withdraw Bitcoin to a UK bank account.

Sign up here

 

 

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.

 

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