Peanut in the United Kingdom
Send and receive GBP via Faster Payments in seconds, deposit EUR via SEPA, or hold digital dollars. No fees, no NIN required.
The United Kingdom is one of the world's busiest money corridors. British expats live across Latin America, Southeast Asia, and beyond. Tourists flow between London and Buenos Aires, Rio, and Bangkok. Remote workers pay contractors in multiple countries. Yet moving money across borders from the UK has traditionally meant slow international bank transfers and stacked fees.
Peanut is live in the UK today. You can send and receive GBP via Faster Payments in seconds, deposit EUR via SEPA, hold digital dollars between trips, and spend instantly in Argentina and Brazil. One app bridges the UK and the rest of the world — with no fees and no UK-specific ID required.
How It Works
- 1
Deposit funds
Add money to your Peanut balance via Faster Payments (GBP, seconds, 24/7/365), SEPA (the UK retains SEPA membership for EUR transfers), or send digital dollars from any major exchange. All deposits are free.
- 2
Your balance stays in digital dollars
Your funds are held in digital dollars until you are ready to spend or send. No exposure to currency fluctuations while your money sits in your account.
- 3
Send via Faster Payments
Send GBP to any UK bank account in seconds, 24/7/365. Sort code plus account number — that is all you need. Free, with no daily-business-hours restriction.
- 4
Send money anywhere
Share a Peanut Link with anyone in the world. They claim the funds and withdraw locally — via bank transfer, Pix in Brazil, Mercado Pago in Argentina, or their preferred method.
What Payment Methods Are Live in the UK
Faster Payments (GBP)
Faster Payments is the UK's real-time payment system, operated by Pay.UK. Processing over 5 billion transactions per year, it enables GBP transfers that typically clear in under 15 seconds between UK bank accounts, 24/7/365. Every major UK bank participates — Barclays, HSBC, Lloyds, NatWest, Santander UK — along with digital banks like Monzo, Starling, Revolut UK, and Wise UK.
With Peanut, you can deposit pounds via Faster Payments from any UK bank account into your Peanut balance, and withdraw GBP via Faster Payments to any UK bank account — your own or someone else's. Funds arrive in seconds. Identification uses your sort code (6 digits) and account number (8 digits). The per-transaction scheme cap is GBP 1,000,000, though your bank's own daily limit (commonly GBP 25,000 - 100,000) usually applies first.
SEPA (EUR)
UK banks retain SEPA membership for euro-denominated transfers, even after Brexit. You can deposit and withdraw EUR via SEPA on Peanut today — free, with 90% of transfers arriving in under 20 minutes.
Digital Dollars
Deposit USDC or USDT from any exchange or wallet on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum. Gas is covered by Peanut. Minimums and fees: none.
What to Expect
Peanut converts your digital dollars to pounds (or vice versa) at the real market rate. The rate locks at the moment of payment — no slippage, no hidden markups, no post-transaction surprises.
For UK residents sending money to Latin America, the savings are significant. Traditional services charge 2-5% in combined fees and exchange rate markups. Credit cards add foreign transaction fees on top. Peanut gives you the real rate with no Peanut fees — whether you are sending to family in Argentina, paying a contractor in Brazil, or splitting a bill with friends abroad.
The UK-to-Argentina corridor is especially strong. Peanut already offers spending in Argentina via Mercado Pago at the cripto dolar rate — approximately 2–11% better than the rate your card gives you (based on today's rate). With Faster Payments live, depositing into Peanut from a UK bank is instant and free.
Who Uses Peanut in the United Kingdom
Sending Money to Latin America
The UK has a large diaspora connected to Latin America. If you send money to Argentina or Brazil from the UK, you know the cost: wire transfer fees, multi-day waits, and exchange rates marked up by 2-5%. With Peanut, you deposit pounds via Faster Payments in seconds, and the recipient receives local currency instantly — via Mercado Pago in Argentina or Pix in Brazil. No fees on either end.
Tourists and Travelers
UK travelers heading to Argentina, Brazil, Thailand, or other destinations face foreign transaction fees and card markups on every purchase. Peanut lets you deposit pounds, hold digital dollars, and spend in local currencies at the real rate. One app for everywhere you go.
Digital Nomads and Expats
If you are a UK resident working remotely or living abroad, Peanut connects your UK bank to local payment systems worldwide. Deposit pounds, spend pesos in Buenos Aires, reais in Sao Paulo, and more. Your balance stays in digital dollars between trips — no need to convert back and forth or maintain accounts in multiple countries.
Verification
Verification takes under two minutes with your passport — no National Insurance Number required, no UK address, no UK bank account required for sign-up. Faster Payments deposits and withdrawals require verification; crypto deposits and withdrawals do not.
FAQ
Can I send and receive GBP with Peanut in the UK today?+
Yes. Faster Payments is live on Peanut. You can deposit GBP from any UK bank account into your Peanut balance and withdraw GBP from Peanut to any UK bank account — your own or someone else's. Transfers typically arrive in seconds, 24/7/365.
What payment methods does Peanut support in the UK?+
Faster Payments for instant GBP deposits and withdrawals (sort code + account number), SEPA for EUR deposits and withdrawals (the UK retains SEPA membership), and digital dollar deposits and withdrawals across seven blockchain networks. All are free from Peanut.
How fast is Faster Payments?+
Faster Payments typically settles in under 15 seconds and runs 24/7/365 — including weekends and UK public holidays. The scheme target is under 2 hours end-to-end, but in practice most transfers clear in seconds.
Do I need a National Insurance Number to use Peanut in the UK?+
No. A National Insurance Number (NIN) is not required. Verify with your passport or national ID card from any country — the process takes under two minutes.
What about Confirmation of Payee?+
Most UK banks now check the beneficiary name against the account holder via Confirmation of Payee (CoP). When you set up a withdrawal to a UK bank account, the name you enter is checked against the account holder's name. If the names don't match, your bank may warn you before the transfer is sent.
Can I send money from the UK to Argentina or Brazil with Peanut?+
Yes. Deposit GBP via Faster Payments (seconds) or EUR via SEPA (under 20 minutes), then send to recipients in Argentina (Mercado Pago) or Brazil (Pix) for instant spending.
Is Peanut available for SEPA transfers from the UK?+
Yes. Although the UK left the EU, UK banks retain SEPA membership for euro-denominated transfers. You can deposit and withdraw EUR via SEPA on your Peanut account today — free, with 90% of transfers arriving in under 20 minutes.
