Sell Ethereum with Faster Payments

Faster Payments is the UK network that moves pounds between bank accounts in seconds, around the clock. Selling Ethereum through it means Banxa buys your ETH at a quoted rate and sends sterling to your account over that network.

The pounds arrive in a UK account held in your own name, identified by sort code and account number, and matching your verified Banxa details. A payout aimed at a company account or at an account in another person's name will be rejected rather than held.

UK banks apply Confirmation of Payee, which compares the name on the payment against the name registered to the destination account. Small differences that would pass unnoticed elsewhere get flagged here, so a name warning is worth stopping for rather than dismissing.

Ethereum can be sent from mainnet or from several layer twos, including Arbitrum, Base, Optimism, Linea and zkSync. The set available to you depends on where you are selling from, and it changes, so take the network from the quote screen rather than from habit. Sending from a chain that was not offered is the one error here that support cannot usually undo.

The two clocks run in an order that surprises people, and Ethereum is the slower leg: it produces a block roughly every twelve seconds and needs enough of them before the deposit counts as settled. Call it minutes. Faster Payments then completes in seconds, at any hour, weekends included.

Cost sits inside the quoted rate rather than on a fee line, so the sterling figure you see before confirming is what lands. Gas to move the ETH is separate, paid on the crypto side, and the network you choose drives it: mainnet during busy hours costs many times what the same transfer costs on Arbitrum or Base.

Per-transaction ceilings and rolling cumulative limits both apply, and crossing one usually triggers further checks rather than a refusal. Your own thresholds appear at quote time. Note that your bank sets its own Faster Payments receiving limit too, which is often lower than the scheme allows, and a payment above it can be held for manual review at their end rather than ours.

A first sale brings an identity check even on an account with a buying history, because money leaving the system carries obligations that money entering it does not. Larger sales add questions about where the crypto came from, and answering those without delay is what keeps a payout quick.

On the sterling side, failures come from a wrong sort code or account number, a closed account, or a Confirmation of Payee mismatch. A returned Faster Payment typically comes back in short order rather than over days, though the sale has already priced at the original quote.

Once your ETH reaches Banxa's address the transfer is settled on-chain and no reversal exists. Only the sterling leg remains correctable after that point.

The exposure specific to this rail is small but real. Because the bank leg is instant, the entire wait is the chain, and a network paying high gas can slow confirmation at exactly the moment you most want the sale done.