How to buy Bitcoin with bank transfer

Not everyone wants to buy Bitcoin with a card.

Some people prefer paying from their bank account. Maybe they don’t want to use a credit card for crypto. Maybe their bank blocks card payments to crypto services. Or maybe they’re just more comfortable with bank transfers because that’s how they’ve always moved money.

Whatever the reason, the CoinGate Buy Bitcoin page supports two types of bank transfer for buying Bitcoin: Easy Bank Transfer and Manual Bank Transfer. Both work through SEPA for EUR transactions, and both get you BTC directly in your wallet.

The trade-off is time. Bank transfers take 1-2 days instead of minutes. But for users who prefer this method, that’s an acceptable wait.

Two types of bank transfer

The Transak widget offers two bank transfer options, and they work differently. Here’s the distinction.

Easy Bank Transfer

Processing time: 1-2 days

Easy Bank Transfer uses Open Banking to connect directly to your bank account within the buy widget. You select your bank, log in through a secure redirect, and authorize the payment without leaving the flow.

The advantage here is that you don’t have to manually copy payment details or switch between apps. The widget handles the bank connection for you. After you authorize, the payment is initiated and processed through SEPA.

This is the better option for most bank transfer users. It reduces the chance of entering wrong details and keeps the experience inside one flow.

Manual Bank Transfer

Processing time: 1-2 days

Manual Bank Transfer is the traditional route. The widget shows you the recipient bank account details and a reference number. You then go to your bank’s app or online banking portal and initiate a SEPA transfer yourself.

This works well if your bank isn’t supported by the Open Banking integration, or if you simply prefer to initiate transfers yourself. The downside is that it requires more manual effort, and there’s more room for mistakes like forgetting the reference number or entering the wrong amount.

Both options settle through SEPA, so the processing time is similar. The difference is in how the payment is initiated: automatically through the widget (Easy) or manually by you (Manual).

How to buy Bitcoin with a bank transfer

1. Select Bitcoin and enter the amount. Choose BTC and enter the EUR amount you want to spend. The widget shows the estimated Bitcoin amount based on the current rate, with fees included.

2. Choose Easy Bank Transfer or Manual Bank Transfer. If your bank supports Open Banking, Easy Bank Transfer is the smoother option. If not, Manual Bank Transfer is always available.

3. Enter your Bitcoin wallet address. Provide the address where you want to receive BTC. Double-check it. Bitcoin transactions are irreversible.

4. Verify your email and complete KYC. Confirm your email with a one-time code and complete identity verification. Smaller purchases may qualify for lighter KYC. Larger amounts require document upload and a selfie.

5. Authorize the payment. For Easy Bank Transfer, you’ll be redirected to your bank’s login page to authorize the payment. For Manual Bank Transfer, you’ll receive the payment details and need to initiate the transfer from your bank yourself. Make sure you include the reference number.

6. Wait for settlement and receive BTC. Bank transfers take 1-2 business days to settle through SEPA. Once the payment is confirmed, the Bitcoin is sent to your wallet address.

What to keep in mind with bank transfers

The price can move while you wait

This is the biggest practical difference between bank transfer and card payment. When you pay by card, the transaction completes in minutes and the rate is essentially locked in. With a bank transfer, 1-2 days pass between initiating the payment and the transaction settling.

During that time, the Bitcoin price can move. The final amount of BTC you receive may differ slightly from the estimate you saw when you placed the order. For most purchases, the difference is small. But during volatile periods, it’s worth keeping in mind.

Include the reference number

If you’re using Manual Bank Transfer, the widget will show you a reference number to include with your payment. This is how the system matches your transfer to your order. Without it, the payment may not be recognized, and your order could time out.

This doesn’t apply to Easy Bank Transfer, where the reference is included automatically.

Bank processing times vary

SEPA transfers are standardized across Europe, but individual banks process them at different speeds. Some complete within hours. Others take the full 1-2 business days. Weekends and holidays can add extra time.

If your payment doesn’t arrive within the expected window, check with your bank before assuming something went wrong on the buy side.

Some banks are slower with crypto-related payments

A few banks flag or delay transfers related to crypto services. This isn’t common, but it happens. If your transfer takes longer than expected, your bank’s compliance checks may be the reason.

When is bank transfer the right choice?

You don’t want to use a card for crypto. Some users prefer keeping crypto purchases separate from their card activity. Bank transfer accomplishes that.

Your card is declined. Not all banks allow card payments to crypto services. If your Visa or Mastercard gets blocked, bank transfer is the reliable fallback.

You’re comfortable waiting 1-2 days. If speed isn’t a priority and you’re planning to hold Bitcoin long term, the extra wait time is a non-issue.

You prefer paying from your bank account directly. For some people, this is simply the most natural way to pay. Bank transfer feels familiar and doesn’t involve cards at all.

FAQ

How long does a bank transfer take to buy Bitcoin?

Both Easy Bank Transfer and Manual Bank Transfer take 1-2 business days to settle. Exact timing depends on your bank’s SEPA processing speed.

What’s the difference between Easy and Manual Bank Transfer?

Easy Bank Transfer connects to your bank through Open Banking and initiates the payment automatically within the widget. Manual Bank Transfer gives you the payment details and reference number, and you initiate the transfer yourself from your bank app.

Is bank transfer cheaper than card payment?

Bank transfers typically have lower processing fees than card payments because they don’t go through card networks. The buy widget shows the full fee breakdown before you confirm, so you can compare.

Can I buy Bitcoin with bank transfer from any country?

Bank transfer availability depends on your country and currency. For EUR transactions, SEPA bank transfer is available across 36 European countries. 

What happens if I forget the reference number?

For Manual Bank Transfer, the reference number links your payment to your order. Without it, the payment may not be matched, and the order could expire. Always include the reference number in the transfer details.

Do I need to verify my identity?

Yes. KYC verification is required regardless of the payment method. Email verification and identity checks are part of the buy flow.

Final thoughts

Bank transfer isn’t the fastest way to buy Bitcoin, but it’s a reliable one. It works when cards don’t, it feels familiar for traditional banking users, and it keeps the purchase separate from card activity.

Choose Easy Bank Transfer for the smoother experience, or Manual Bank Transfer if you prefer doing it yourself. Either way, the Bitcoin ends up in your wallet after the payment settles.Ready to buy? Head here and choose a bank transfer option.