The Pros and Cons of Buying Bitcoin with a Bank Account

rsz buy bitcoin with bank account

Buying Bitcoin with a bank account differs somewhat from buying Bitcoin with a credit or debit card. You’ll get the same trusted Coinmama service either way, but here are the important things to keep in mind regarding wire over plastic:


  • Considerably lower fees: as credit card companies charge a fairly steep processing fee of 5%, you can get more bitcoin for your hard-earned fiat when buying through your bank account.
  • All SEPA accounts supported: provided your bank account is in EU or UK and supports SEPA payment, you’re free to buy bitcoins with it. As we only accept MasterCard or VISA cards, bank payments allow us to extend our service to more users.
  • Higher limits: our current daily limit for bank account purchases is just over €10,200. This is more than double our daily credit or debit card limit of €4,255. If you’re looking to buy a substantial amount of bitcoin, the bank transfer method just makes sense.

Note: your purchase limits will be increased the more bitcoins you can buy from us, whichever payment method you choose:


  • Bank transfer purchases are slower: credit or debit card purchases are processed nearly instantly. Our users generally receive their bitcoins within 30 minutes when paying by this method. As the banks unfortunately take longer to process SEPA transfers, it usually takes a day or two for our users to receive their bitcoins when paying by bank transfer.
  • Your rate is locked in when we the transfer: Bitcoin’s price can be very volatile. For this reason, the exact rate you get when paying via a bank transfer is locked in at the time we receive your transfer. As payments can take several hours or even days to process, Bitcoin’s price may change in the meantime. As a result, you could end up receiving more or less coins than expected, depending on whether price goes up or down in the interim.  This makes bank payments less predictable than card payments, which are locked in straight away.
  • Limited to the EU and UK: our card payment method allows us to support 188 countries around the world. At this time, our bank transfer payment method only supports SEPA bank accounts within the following 33 Single Euro Payment Area (SEPA) countries:

  1. Austria,
  2. Belgium,
  3. Bulgaria,
  4. Croatia,
  5. Cyprus,
  6. Czech Republic,
  7. Denmark,
  8. Estonia,
  9. Finland,
  10. France,
  11. Germany,
  12. Greece,
  13. Hungary,
  14. Iceland,
  15. Ireland,
  16. Italy,
  17. Latvia,
  18. Lichtenstein
  19. Lithuania,
  20. Luxembourg,
  21. Malta,
  22. Monaco,
  23. The Netherlands,
  24. Norway,
  25. Poland,
  26. Portugal,
  27. Romania,
  28. Slovakia,
  29. Slovenia,
  30. Spain,
  31. Sweden,
  32. Switzerland, and
  33. the United Kingdom.

SEPA countries

Check out our guide on how to go through the process of buying BTC on Coinmama, with Bank account, from beginning to finish in 4 easy steps. click here for details.

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