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Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Your capital is at risk. 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.

Getting some cryptocurrencies straight via a bank transfer has never been easier.

In the early days, accessing easy payment methods for crypto purchases was complicated. The rules were known only available to a handful of tech-savvy pioneers.

But times have changed; you can now buy Bitcoin, Ethereum and other popular cryptocurrencies straight from your bank account with crypto exchanges such as Coinbase, eToro, Kraken and Uphold.

These exchanges offer a variety of payment options, including integration with payment processing tools such as G-Pay and Apple Pay that enable bank transfers on both Android and iOS devices.

Here is a look at some top exchanges that allow you to make bank transfers with crypto purchases.

Bank Transfer Pros & Cons

Pros

  • Very reliable and safe way to purchase crypto

  • Low or free transaction costs

  • High purchase limits

  • Relatively private

Cons

  • One of the slower payment methods

  • Your mileage will vary depending on bank

  • Some banks restrict crypto transfer

Our Favorite Exchanges for Using Bank Transfers

eToro Exchange Logo

eToro

  • Great for crypto beginners
  • Solid crypto/general trading platform
  • Reliable company with solid trust in the community
  • Fully supports credit cards for deposits and withdrawals
Funding Methods e-Transfer & Wire Transfer
Cryptocurrencies 15+
Countries 70+
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. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Your capital is at risk. 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. Only real cryptocurrencies are available to US customers.
Kraken Logo

Kraken

  • Exceptionally secure exchange with proof of reserves
  • Supports many different funding options
  • Accepts users from across the globe including USA and Canada
  • Very high trading volume
Funding Methods Wire Transfer, ACH
Cryptocurrencies 185+
Countries 150+
Uphold Exchange Logo

Uphold

  • The ultimate anything-to-anything exchange with support for foreign currencies, crypto, precious metals and more
  • Easy sign-up process with streamlined UI
  • Remarkably secure with proof of assets feature
  • Available to people in over 150 different countries
Funding Methods Credit & Debit Card, Apple Pay, Google Pay, Bank Transfer, Crypto
Cryptocurrencies 250+
Countries 150+
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. 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
Coinbase logo new

Coinbase

  • Beginner-friendly UI make it easy to make quick buys
  • One of the oldest and most reliable exchanges
  • Earn $200 in free crypto after completing sign-up process. Terms apply.
  • Variety of products including exchange, staking, wallet
  • Advanced Trading options for experienced traders
Funding Methods Debit & Credit Bank, PayPal, ACH, Bank Transfer, e-Transfer
Cryptocurrencies 100+
Countries 100+

eToro: Best for Flat Rate Fees and Overall Platform

Similar to Coinbase, eToro gives its users the freedom to buy and sell crypto via several payment options, including a credit/debit card, Bank Transfer, PayPal, Skrill and a host of other payment options.

To pay through bank transfer, simply link your account to your eToro profile, and you can initiate a transfer from your bank to your eToro wallet.

eToro’s limit on debit card deposits is set at a minimum of $10 and a maximum withdrawal limit of $40,000 per transaction.

eToro Exchange Logo

eToro

  • Great for crypto beginners
  • Solid crypto/general trading platform
  • Reliable company with solid trust in the community
  • Fully supports credit cards for deposits and withdrawals
Funding Methods e-Transfer & Wire Transfer
Cryptocurrencies 15+
Countries 70+
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. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Your capital is at risk. 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. Only real cryptocurrencies are available to US customers.

Kraken: Great for Security and Low Fees

Kraken is also quite popular in the crypto space thanks to its reputation for reliability and security. If you are looking to make a bank transfer through their platform, first create an account and complete the KYC process. Once your account is set up, you can select your bank transfer option, as Kraken supports several fiat currencies such as USD, GBP and EUR.

Bank transfer fees and limitations on Kraken vary based on your location, the currency you are using and the bank policies of your country. Kraken is pretty much at par with Coinbase, except that it offers lower fees and gives its users higher deposit and withdrawal limits.

Kraken Logo

Kraken

  • Exceptionally secure exchange with proof of reserves
  • Supports many different funding options
  • Accepts users from across the globe including USA and Canada
  • Very high trading volume
Funding Methods Wire Transfer, ACH
Cryptocurrencies 185+
Countries 150+

Uphold: Commission Free Exchange

Uphold is a commission-free trading platform for cryptocurrencies and other assets. For crypto enthusiasts looking for a marketplace with a wide variety of cryptocurrencies as well as other traditional assets, Uphold is the place to be.

Their bank transfer payment process is straightforward. You only have to navigate to the “Transact” tab and choose your method of payment. Scroll through the list of available banks and select one that matches your bank.

Next, you’ll be able to pick the asset you want to buy, and after reviewing the transaction, you confirm and make the payment.

There is a daily deposit and withdrawal limit of $2,500 if you are making a payment via debit/credit card. However, bank transfers come with a deposit limit of $2,500 and a withdrawal limit of $10,000 per day.

Uphold Exchange Logo

Uphold

  • The ultimate anything-to-anything exchange with support for foreign currencies, crypto, precious metals and more
  • Easy sign-up process with streamlined UI
  • Remarkably secure with proof of assets feature
  • Available to people in over 150 different countries
Funding Methods Credit & Debit Card, Apple Pay, Google Pay, Bank Transfer, Crypto
Cryptocurrencies 250+
Countries 150+
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. 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

Coinbase: Industry Frontrunner

Coinbase stands out as a frontrunner in the realm of cryptocurrency transactions.

Coinbase makes this process remarkably easy. All you have to do is link your bank account to your Coinbase wallet; you can seamlessly shift funds from your bank to the platform.

Even though there is a weekly bank transfer limit based on your bank, Coinbase has a sizable withdrawal limit of $100,000 daily, which is great for those looking to make large purchases and withdrawals.

Coinbase logo new

Coinbase

  • Beginner-friendly UI make it easy to make quick buys
  • One of the oldest and most reliable exchanges
  • Earn $200 in free crypto after completing sign-up process. Terms apply.
  • Variety of products including exchange, staking, wallet
  • Advanced Trading options for experienced traders
Funding Methods Debit & Credit Bank, PayPal, ACH, Bank Transfer, e-Transfer
Cryptocurrencies 100+
Countries 100+

Why Choose a Bank Transfer?

There are several advantages to this method:

  1. Safety and Security: Bank transfers are considered a secure and reliable way to transfer funds. Your bank’s security measures and the use of unique transaction identifiers help protect your money.
  2. Wide Availability: Most cryptocurrency exchanges and platforms support bank transfers as a payment method. This makes it a convenient choice for many users worldwide.
  3. Lower Fees: Bank transfers often have lower transaction fees compared to other payment methods, such as credit cards or PayPal. This means you can retain more of your investment.
  4. High Limits: Bank transfers typically allow for higher transaction limits, making it suitable for both small and large investments.

How Fast is a Bank Transfer?

While most bank transfers on crypto exchanges are known to be instant, the duration of bank transfers varies. On eToro, it may take several business days. Coinbase typically offers relatively faster processing, often within 1-3 business days for U.S. users, while international users might experience longer waits.

Kraken, similar to Coinbase, usually processes bank transfers within a few business days. On Uphold, all payment methods are instant, including bank transfers.

Are Bank Transfers and ACH the same?

Bank transfer and ACH (Automated Clearing House) are related concepts, but they are not the same thing when it comes to making payments online.

Bank Transfer:

Bank transfer is a broad term that refers to any movement of funds from one bank account to another. This can be done through various methods, including in-person at a bank branch, by writing a check, or online. Bank transfers can encompass a wide range of payment methods, including wire transfers, online transfers, and ACH transfers.

ACH (Automated Clearing House):

ACH is a specific electronic network and system used for processing financial transactions in the United States. It’s a network that facilitates electronic funds transfers and direct deposits, including various types of payments, such as payroll deposits, utility bill payments, and more.

ACH transfers are a subset of bank transfers and are typically used for electronic transactions within the United States. ACH transfers are often used for recurring payments, such as monthly bills or direct deposit of wages. They are a cost-effective and efficient way to move money electronically between bank accounts.

You Can't Go Wong with a Bank Transfer

Buying cryptocurrency with a bank transfer is a secure and straightforward process when you follow this guide. Remember to choose a reputable cryptocurrency exchange, complete the KYC verification, link your bank account, deposit funds, place an order, confirm your purchase, and most of all, don’t forget to securely store your crypto in cold storage.

While some platforms offer cumbersome payment options, exchanges that enable easy bank transfers are on the rise, with some even offering instant payment via bank transfers.

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