Before making a deposit so that you can buy cryptocurrency, we'll have to find out a little bit more about you (aka verifying your identity).

Once verified, you can deposit money to your GBP wallet in a few easy steps.

Here's how

Sign in to the Luno app, select Wallets, then Deposit on your GBP wallet. Once there, follow these steps:

  1. Enter the amount you'd like to deposit

  2. Next, you’ll see a unique BX reference as well as other details displayed to make your deposit

  3. Log in to your banking app and make a deposit using the details provided. Please include your unique BX reference number in the reference field provided

  4. You’ll receive an email notification once it reflects in your GBP wallet

Mission success! You’ve made a deposit and can now buy cryptocurrency.


Only Faster Payments, Bacs, and CHAPS payments are accepted in our GBP account. Payments from other schemes are rejected and returned within 3 to 5 days.

Important things to remember

When making a deposit, make sure that 1) you’ve deposited from a local bank account in your own name, 2) you made the deposit from your online banking (we don’t accept cash deposits), and 3) you’ve used the correct unique reference number (starting with BX). 

Once we receive your deposit, we’ll automatically add it to your GBP wallet, and notify you via email.

Banks can take up to 24 hours to process deposits (longer over weekends, public holidays, and when you make a deposit after hours), so that’s how long it’ll take for your money to show up in your local currency wallet.


Please only reach out to us if you haven’t used your unique reference (starting with BX), or if it’s been longer than 24 hours and your deposit isn’t reflecting yet.

Frequently asked questions

Are there any deposit limits?

Other than your verification level limits, there are no additional deposit limits. Your bank might have payment limits. If they do, we’d suggest getting in touch with them.

Can I deposit using a non-bank financial service provider?

You can, but there may be some delays.

When depositing from a non-bank financial service provider (such as Nationwide Builders Society), the name and account details that Luno receives may not be yours, but rather, that of the non-bank service provider. As a result, we might not be able to immediately allocate the deposit correctly, causing a delay.

In some cases, the service provider will not process any payments to digital currency exchanges. Be sure you reach out to your service provider if you have any doubt.

Also, these service providers detect if you’re sending money to digital currency exchanges (like Luno) and may reduce your limits or even block the transaction. You would then have to contact the service provider to increase your limits or unblock (possibly reverse) the transaction.

What we’re doing about it

We’re actively communicating these issues to non-bank service providers in order to better understand the causes and also to identify ways of improving our own deposit methods. For now, we’d strongly suggest that you deposit from traditional banking services instead.