Faster Payment Service Icon

Faster Payments is a popular method of payment for citizens of the United Kingdom and surrounding islands for sending and receiving money in their bank account.

In this guide, we are covering the best ways you can buy bitcoin directly using Faster Payments.

Best Trading Platform

Etoro Icon

Etoro

The World’s Leading Social Trading And Investment Platform For Cryptocurrency

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework.

Investments are subject to market risk, including the loss of principal.

Best Bitcoin Exchange

CEX IO icon

CEX.IO

The Easiest And Most Secure Platform To Buy & Trade Cryptocurrency

 

Best Bitcoin App

Coinbase Icon

Coinbase

The World’s Leading Cryptocurrency Exchange Trusted By Over 30 Million Users

Faster Payments Logo

Last Update October 6th, 2023. The Faster Payments Service is exclusive to citizens of the United Kingdom in part of an initiative to reduce payment times for banking institutions and customer accounts.

Faster Payments are a popular method of payment for buying and selling bitcoin and cryptocurrencies.

If you are buying or trading bitcoin in high volumes with Faster Payments our recommendation is to use Etoro or CEX.IO for your trading needs.

Where To Buy Bitcoin With Faster Payments Service

Company
Fees
Countries Supported
Etoro Icon ResizedEtoroFree, $5 withdrawal feeWorldwide
CEX IO Icon ResizedCEX.IOFreeWorldwide
Coinbase Icon ResizedCoinbaseFree102 countries (see full list)
Kraken Bitcoin Exchange Icon ResizedKrakenFreeWorldwide
Coinmama Icon ResizedCoinmamaFreeWorldwide
Gemini Icon ResizedGeminiFree60+ Countries

How Can I Buy Bitcoin With Faster Payments?

If you want to buy bitcoin using Faster Payments Service then you have to find a reputable exchange or marketplace that will let you do it.

Watch the video to learn exactly how to buy bitcoin with Faster Payments in the UK

How To Buy Bitcoin With Faster Payments On Etoro Summary

  1. Create an account with Etoro.
  2. Verify your account.
  3. Connect your bank account and fund your trading portfolio.
  4. Go to ‘Bitcoin’ and select the amount you want to buy.
  5. Bitcoins are added to your Etoro portfolio.

That’s it! You have successfully purchased bitcoin with Faster Payments as the payment method.

6 Ways To Buy Bitcoin With Faster Payments Service

Etoro

Etoro Homepage - Build A Better Crypto Portfolio

Website:etoro.com
CEO:Yoni Assia
Headquarters:London, United Kingdom
Founders:David Ring, Ronen Assia, Yoni Assia
Founded:2007
Customer service:Knowledge Base

Etoro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Since 2007, Etoro has been democratizing traditional money management in order to open the financial markets to everyone, everywhere.

Deposits may be made via online bank transfer, wire transfer, e-wallet (PayPal, Skrill, or Neteller), or bank card. Customers may withdraw funds from their Etoro account at any time, and without fees from the platform (though charges from your bank may apply).

Minimum first time deposit for US users is $50 USD and $200 USD for most countries.

Etoro accepts deposits in USD, EUR, GBP, and AUD. Watch this video to get a step-by-step guide on how to buy bitcoin on Etoro.

Pros

  • Diverse selection of markets
  • Excellent reputation
  • User-friendly interface
  • Great customer support
  • Low fees

Cons

  • Bitcoins can not be withdrawn

Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more. https://med.etoro.com/B21058_A96320_TClick.aspx

Crypto assets are unregulated & highly speculative in some EU countries. No consumer protection. Capital at risk.

Crypto investing is offered by eToro (Europe) Ltd. and custody is provided by eToro Germany GmbH. Your capital is at risk.

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.


ReputationFeesPrivacyLimits
ExcellentLowHighHigh
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

77% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptocurrencies are a highly volatile unregulated investment product. No EU investor protection.

eToro USA, LLC does not offer any CFDs and makes no representations and assumes no liability for the accuracy or completeness of the content of this publication, which was created by our partner using publicly available, non-company specific information about eToro.

CEX IO

CEX.IO Homepage

Website:cex.io
CEO:Oleksandr Lutskevych
Headquarters:London, United Kingdom
Founders:Oleksandr Lutskevych, Dmytro Kalynovskyi, Victoria Polyakova, Peter Ivanov
Founded:2013
Customer service:Knowledge Base
More information:Read Review

CEX.IO is a multifunctional cryptocurrency exchange that is trusted by millions of customers worldwide and allows users to buy bitcoin with a credit card or debit card seamlessly.

CEX.IO boasts multiple payment options (SWIFT, SEPA, ACH, Faster Payments), 24/7 customer support, and proven platform stability.

CEX.IO accepts deposits in USD, EUR, GBP, and RUB.

Pros

  • Established and trustworthy
  • Supported worldwide
  • Low fees
  • Simple credit card purchases
  • Clean user interface

Cons

  • Verification procedure requires private information
  • Lengthy verification time

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

Coinbase

Coinbase Homepage

Website:coinbase.com
CEO:Brian Armstrong
Headquarters:San Francisco, California
Founders:Brian Armstrong, Fred Ehrsam
Founded:2012
Customer service:Knowledge Base
More information:Read Review

Coinbase is the dominant U.S. cryptocurrency exchange that is known, used and trusted by millions of customers worldwide. The world-class user interface is both colorful and accessible and there is even a mobile app available for Android and iOS.

Coinbase accepts deposits in USD, EUR, GBP, CAN, AUS, and SGD.

Pros

  • Established reputation
  • User-friendly interface
  • High liquidity
  • Large purchasing limits
  • Strong security

Cons

  • Support takes time to respond
  • Slow bank transfers

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

Kraken

Kraken Homepage

Website:kraken.com
CEO:Jesse Powell
Headquarters:San Francisco, California
Founders:Jesse Powell
Founded:2011
Customer service:Knowledge Base

Kraken is the world's largest Bitcoin exchange and offers a vast selection of cryptocurrencies and internationally accepted funding methods.

Kraken Pro provides individual and institutional investors with advanced real-time trading and charting tools.

Kraken accepts deposits in USD, EUR, CAD, GBP, JPY, and CHF.

Pros

  • Respectable reputation
  • Global support
  • Reliable customer support
  • Tiered verification
  • Affordable fees

Cons

  • Few payment methods
  • Sophisticated UI

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

Coinmama

Coinmama Homepage

Website:coinmama.com
CEO:Sagi Bakshi
Headquarters:Israel
Founders:Laurence Newman, Nimrod Gruber, Ilan Schuster
Founded:2013
Customer service:24/7 email support and Knowledge Base
More information:Read Review

Coinmama specializes in selling Bitcoin and cryptocurrencies instantly with a credit card, or with bank transfer and is one of the most popular exchanges in the world.

Coinmama accepts all currencies, in particular, USD, EUR, GBP, CAD, AUD, and JPY.

Pros

  • Available worldwide
  • High purchasing limits
  • Dependable and trustworthy
  • Excellent leadership and customer support
  • Fast and secure transactions

Cons

  • High fees when purchasing with a credit card or debit card
  • Delay in processing time

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

Gemini

Gemini Homepage

Website:gemini.com
CEO:Cameron Winklevoss, Tyler Winklevoss
Headquarters:New York, New York
Founders:Cameron Winklevoss, Tyler Winklevoss
Founded:2014
Customer service:Knowledge Base

Gemini is a simple, elegant, and secure way to build your bitcoin and crypto portfolio. Gemini has low fees and a strong reputation.

The dashboard makes it easy for investors to view a snapshot of their holdings upon login.

Gemini accepts deposits in USD, AUD, CAD, EUR, GBP, and HKD for trading.

Pros

  • Ability to set real-time market limit orders
  • Low fees
  • Clean user interface
  • Strong reputation
  • Great customer support

Cons

  • Exclusive to a limited number of countries

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

What Are Faster Payments?

The Faster Payments Service is a banking initiative in the United Kingdom to reduce payment times for banking institutions for speed, convenience, and security.

How Faster Payments Work

How Faster Payments Work Infographic

How Long Does A Faster Payment Take?

Faster Payments usually arrive within the recipients account instantly, and can sometimes take up to 2 hours to fully process.