Transfer USD to GBP and vice versa using crypto exchanges

[sharpnote]

I use Wise on a regular basis to move money between my USA and UK bank accounts and I have no complaints there.

I wanted to check in with the state of crypto in 2026 for transfering money across borders in a similar manner to how I use Wise. From what I can tell it takes a little longer, is a little cheaper, but there's more steps. Seeking validation if my approach is optimal:

• Coinbase USA > deposit funds using ACH, free and takes a few days.
• Send USDC to UK Kraken account on Base. Free and instant
• Convert USDC to GBP within Kraken. Very cheap, my test transfer of $10 USDC cost $0.07 to convert. The exchange rate seemed fair too and matched a generic Google search "$10 USD in GBP"
• Withdraw to UK bank account using FPS. Costs £1.95

Doable, pretty cheap, but more steps than wise. Is there a better approach?

Also, do any of the big exchanges let one deposit and withdraw with checking accounts in more than one country? E.g. Imagine if Coinbase would let me deposit USD via ACH and then withdraw to GBP account.

I'm not interested in Revolut since I have read too many online stories about accounts being blocked too flippantly.

[rat03gopoh]

Essentially, you want to convert USD (US bank account) to GBP (UK bank account) via crypto exchanges? Doesn't Coinbase support GBP deposits and withdrawals to local UK banks (cmiiw_? I don't think you need to transfer to Kraken first.

The steps are:
https://help.coinbase.com/en/exchange/funding/withdrawing-with-a-uk-bank-account
https://help.coinbase.com/en/exchange/funding/depositing-with-a-uk-bank-account

[sharpnote]

Essentially, you want to convert USD (US bank account) to GBP (UK bank account) via crypto exchanges? Doesn't Coinbase support GBP deposits and withdrawals to local UK banks (cmiiw_? I don't think you need to transfer to Kraken first.

The steps are:
https://help.coinbase.com/en/exchange/funding/withdrawing-with-a-uk-bank-account
https://help.coinbase.com/en/exchange/funding/depositing-with-a-uk-bank-account

Thanks for the pointer. I followed the instructions at that link and went down a path of applying for a business application which requires an application that costs $5K!

https://www.talkimg.com/images/2026/04/01/UYd4Jc.png

[joniboini]

Thanks for the pointer. I followed the instructions at that link and went down a path of applying for a business application which requires an application that costs $5K!

I'm not sure why you need to make a business application, though. Don't we have to verify our banking account to allow withdrawal according to that guide? What makes you think bank verification requires you to have a business application? It doesn't seem to be mentioned anywhere on that link. I guess I need to login to the see full steps, but judging from the guide, it doesn't seem to be that demanding. CMIIW.

[examplens]

I used to use cex.io for similar things in the past. It is one of the oldest exchanges.
Back then, at least they had options like this. Maybe you should look and check, I think you will be able to do both directions on this platform, the only question is how much the fee suits you.
This is not my guarantee for them, especially since I haven't used them for several years.

[sharpnote]

I used to use cex.io for similar things in the past. It is one of the oldest exchanges.
Back then, at least they had options like this. Maybe you should look and check, I think you will be able to do both directions on this platform, the only question is how much the fee suits you.
This is not my guarantee for them, especially since I haven't used them for several years.

I signed up for cex.io and looked around the UI. The thing that put me off was the fees to add funds, even just using ACH. Example fees I saw for adding USD to my cex account: $200:$5, $100:$$8.65, $1,000:$43.

I did not add funds given the fees, but I could not find a section on GBP withdrawls, but I did see reference to "FAster payments" which is a UK banking concept.