Send Money to the UK with Peanut
Recipients receive GBP instantly via Faster Payments — no fees, no NIN, 24/7/365.
Send Money to the United Kingdom with Peanut
Send money to anyone in the UK and the recipient receives funds instantly via Faster Payments — the country's real-time payment system that processes over 5 billion transactions per year. The recipient does not need a National Insurance Number or anything beyond a standard UK bank account to receive money. Just a passport and the Peanut app.
The UK is fully connected to Peanut today. Faster Payments handles GBP deposits and withdrawals in seconds, 24/7/365. SEPA handles EUR via the UK's retained SEPA membership. Whether you are sending money to family, paying a contractor, or pre-loading funds before a trip, Peanut connects you directly to the UK's payment infrastructure — no middleman fees, no multi-day waits.
Why Peanut Is the Best Way to Send Money to the UK
No Fees
Peanut charges nothing on deposits, transfers, or withdrawals. Whether you fund your account via SEPA from a European bank, ACH from a US bank, or digital dollars from an exchange, the deposit is free. Sending to the recipient is free. Moving money via Faster Payments to a UK bank is free. Compare that to what the alternatives charge:
- Wise: 0.4-1.5% in additional charges on every transfer
- PayPal: 3-4% cross-border fee, plus an unfavorable exchange rate markup
- Western Union: $5-$15+ flat fee per transfer, plus a rate markup built into the rate
For USD-to-GBP or EUR-to-GBP transfers, these fees add up fast — especially for people sending money regularly.
Better Exchange Rate
Peanut converts digital dollars directly to pounds at the real market rate, bypassing the markups that traditional providers layer on top. The GBP/USD and GBP/EUR rates are among the most liquid currency pairs in the world, yet traditional providers still add 0.5-2% to the mid-market rate on these corridors. Peanut eliminates that premium.
Instant Transfers
Recipients receive money via Faster Payments — the real-time payment system behind nearly every domestic UK bank transfer. Faster Payments typically settles in under 15 seconds and operates 24/7/365, including weekends and UK public holidays.
Faster Payments is available at all major UK banks — Barclays, HSBC, Lloyds, NatWest, Santander UK — plus digital banks like Monzo, Starling, Revolut UK, and Wise UK. The recipient does not need a special app or account. Their existing UK bank account receives the funds directly.
No Local ID Required
Info
Opening a UK bank account typically requires a National Insurance Number, proof of UK address, and residency documentation. For tourists, short-term visitors, and recent arrivals, this creates a significant barrier. Peanut bypasses that entirely. Recipients verify with any passport or national ID card from any country — no NIN, no UK address. To receive a Faster Payments withdrawal, the recipient does need a UK bank account (sort code + account number), but no special setup beyond that.
How It Works
- 1
Sign up and verify your identity
Create a Peanut account and complete identity verification. Submit a photo of your passport or national ID card plus a selfie — the process takes under 2 minutes for most users. No National Insurance Number required.
- 2
Deposit funds
Fund your account using the method that fits your location. European users deposit via SEPA bank transfer (free, 90% under 20 minutes). UK users deposit via Faster Payments (free, seconds, 24/7/365). US users deposit via ACH (free, 1-3 business days) or digital dollars. Anyone can send USDC or USDT on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum — all deposits are free and arrive in minutes.
- 3
Send to the recipient
The recipient creates their own Peanut account and verifies with a passport or national ID card. Send them money directly — Peanut-to-Peanut transfers arrive instantly. If you are the one traveling to the UK, skip this step and withdraw directly to a UK bank account from your own account.
- 4
Recipient receives money via Faster Payments
The recipient withdraws from Peanut to any UK bank account via Faster Payments. Funds arrive in seconds, 24/7/365. The money lands in their existing bank account — Barclays, HSBC, Monzo, Starling, or any Faster Payments-connected institution.
What the Recipient Can Do
Faster Payments Transfers
Faster Payments is the UK's real-time payment system, operated by Pay.UK. It is the infrastructure behind nearly every domestic GBP bank transfer in the country. Recipients can:
- Receive GBP directly into any UK bank account — all major banks and digital banks support Faster Payments
- Access funds 24/7 — unlike BACS or international wire transfers, Faster Payments operates around the clock with no business-day restrictions
- Use standing orders — for recurring payments like rent, the recipient can set up automatic withdrawals from Peanut to their bank
Faster Payments processes over 5 billion transactions per year. It is the backbone of UK domestic payments. The recipient's bank sees a normal incoming transfer — no special setup required on their end.
Unlike QR payment systems in other countries, Faster Payments is account-to-account infrastructure rather than a merchant payment system. The recipient receives GBP in their bank account, which they then spend using their existing debit card, contactless payments, Apple Pay, Google Pay, or any other method their bank supports.
SEPA Withdrawal
For EUR-denominated transfers, recipients can also withdraw via SEPA. UK banks retain SEPA membership for euro-denominated transfers even after leaving the EU.
Digital Dollar Withdrawal
Recipients who prefer to hold digital dollars can withdraw USDC or USDT to any external wallet on supported networks.
Key Corridors
UK to Argentina
The UK has a significant travel corridor to Argentina. Buenos Aires and Patagonia are popular destinations for British tourists and digital nomads. When you send money from the UK to Argentina, the recipient can spend instantly via Mercado Pago at the cripto dolar rate — approximately 2–11% better than credit cards (based on today's rate). UK senders deposit via Faster Payments (GBP, seconds), SEPA (EUR, under 20 minutes), or digital dollars from a UK exchange. See the Send to Argentina guide for the full walkthrough.
UK to Brazil
British tourists visit Rio de Janeiro, Sao Paulo, and northeastern Brazil in growing numbers. UK-based senders can fund their Peanut account via Faster Payments and have recipients in Brazil spend instantly via Pix. The Brazil corridor is particularly strong for tourists pre-loading funds before a trip.
Inbound to the UK
The UK is also a major destination for inbound remittances and transfers. Workers from around the world send money to family in the UK. With Faster Payments live, recipients receive GBP instantly in their bank accounts — a significant improvement over the 3-5 business days typical of international wire transfers.
Deposit and Withdrawal — Available Today
UK users can deposit and withdraw on Peanut today:
- Deposit via Faster Payments (GBP, free, seconds), SEPA bank transfer (EUR-denominated, free, 90% under 20 minutes), or digital dollars on any supported network
- Withdraw via Faster Payments (GBP, free, seconds), SEPA (EUR), or to an external wallet
- Send and receive between Peanut accounts instantly
FAQ
Can I send money to the UK with Peanut today?+
Yes. Faster Payments is live on Peanut. You can send GBP to any UK bank account and the recipient will see the funds in seconds, 24/7/365. No need to wait for a launch — it works today.
What payment methods are supported in the UK?+
Faster Payments for instant GBP deposits and withdrawals (sort code + account number). Recipients see funds in any UK bank account — Barclays, HSBC, Lloyds, NatWest, Santander UK, Monzo, Starling, Revolut UK, and more — typically in seconds, 24/7/365. SEPA also supports EUR deposits and withdrawals.
How fast are Faster Payments transfers?+
Faster Payments typically settles in under 15 seconds. The scheme target is under 2 hours end-to-end, but in practice most transfers clear in seconds. It runs 24/7/365 including weekends and UK bank holidays.
Will I need a National Insurance Number or UK bank account to send?+
No. Peanut does not require a National Insurance Number, proof of UK address, or a local bank account for verification. You verify with any passport or national ID card from any country. To receive Faster Payments withdrawals, the recipient does need to provide UK bank details (sort code and account number).
How much does it cost to send money to the UK?+
Peanut charges no fees on deposits, transfers, or withdrawals. Digital dollars convert directly to GBP at the market rate, without hidden charges. Compare to Wise (0.4-1.5% fee), PayPal (3-4% cross-border fee), or Western Union ($5-$15+ per transfer plus an unfavorable rate).
What about Confirmation of Payee?+
Most UK banks check the beneficiary name against the account holder via Confirmation of Payee (CoP). When you set up a withdrawal to a UK bank, the name you enter is checked against the account holder. If they don't match, your bank may show a warning before sending the transfer.
Can I send money from the UK to Argentina or Brazil today?+
Yes. UK-based users can deposit via Faster Payments (GBP, seconds), SEPA (EUR, under 20 minutes), or digital dollars and send to recipients in Argentina or Brazil. In Argentina, recipients spend instantly via Mercado Pago. In Brazil, recipients spend instantly via Pix. See the Send to Argentina and Send to Brazil guides.
