How To Easily Make A Bank Deposit On Sorare

How To Easily Make A Bank Deposit On Sorare

Making a bank deposit on Sorare can sometimes be difficult, especially if you are new to the platform. We here at SorareHub recognise the frustrations of the community; because the platform uses Ethereum as its currency it can be daunting and may feel like a barrier to entry. We have created this article so that making a bank deposit on Sorare is as easy as possible. If you have previously found it difficult please read on.

How To Make A Bank Deposit On Sorare

You will have probably realised by now that the Sorare ecosystem does not rely on fiat (£, $, €, etc) currencies, instead it uses the Ethereum (ETH) cryptocurrency. For a global platform, this makes a lot of sense as every collector can deal in a common currency regardless of their home territory. Our cards are also stored on the Ethereum blockchain (more info on that later!) which creates a very strong set of arguments for making ETH the exclusive currency of the in-game experience.

This does come with some challenges however. One of the questions we see asked most often by new users is how to deposit funds into Sorare so that they can get up and running straight away to build their card collection. Having advised many new budding card collectors on this issue we know that getting to grips with building an ETH balance can feel like a steep learning curve. Once you get to grips with it though it’s not only incredibly simple but there are also some handy hints and tricks to make it as easy as possible for the future.

There are two main methods for depositing. The first is to use Ramp, a new service which is built into the Sorare front-end to make the process as simple as possible. The second option is to buy your ETH elsewhere and transfer it in using a crypto “wallet”. This article will tackle how to deposit with Ramp. We will discuss how to buy and deposit crypto from elsewhere in a future article.

Using Ramp To Fund Your Account

For many of us, the introduction of Ramp was an absolute game changer. With just a few clicks, users can get their account funded with a debit card or bank account without breaking sweat. That doesn’t mean there aren’t some issues to be aware of though and we break these down below.

To get started, click the blue balance button in the top right corner of the Sorare site. The next screen will look something like this:

Clearly, the option we are after here is Ramp – fund with Credit card or Bank Transfer. After selecting this, we are dropped into the Sorare-Ramp dialogue box with options for how to proceed. At this point, users can either select how much of their home currency they wish to deposit or how much ETH they wish to buy.

In this example, we are purchasing 1.01 ETH at the cost of £1,000. On your credit / debit card statement, this will appear simply as “RAMP SWAPS” when the transaction has fully completed.

Following this, agreement to the terms and conditions will be required as well as a quick e-mail verification using a 2FA code.

Finally, it’s simply left to decide which form of deposit suits each user – with a range of options available:

Are You Registered On Sorare Yet?

Have you completed the registration process with Sorare yet? If the answer to this is no then you should use our referral link to register. You will receive a free rare card once you buy 5 cards from auction; click the image below to complete the sign up with our referral link.

After completing the transaction, you will receive a confirmation that the funds transfer is underway. ETH transfer times can depend on how volatile the market is and how expensive it is for transactions to be recorded. In our experience, the timeframe can range from anything between 2 mins and 20 hours with the method of deposit also having a bearing on how long this can take.

In the table below, we have recorded details of different financial institutions and any known issues from other users. This is something we plan to keep updated so if you have experienced issues or you think things are better than described below, please get in touch and let us know.

How We Rate The Banks

MonzoDebit cardFast 10
StarlingDebit CardFast 10
Natwest Group*Debit CardModerate 8
Natwest Group*Bank TransferSlow 4
BarclaysBank TransferSlow 4
HSBCDebit CardSlow 4
SantanderDebit CardSlowC/B2
BarclaysDebit CardSlowC/B2
RevolutDebit CardN/AN/A0
Table Key C/B = Card Blocked, N/A = Not Available

* The Natwest Group includes the banks Royal Bank of Scotland, Natwest, Ulster Bank and Coutts.

If you are planning to deposit regularly through Ramp, here at SorareHub we would recommend the following:

  • Open an account with a challenger bank like Monzo or Starling. Not only do they seem more comfortable with crypto-transactions but it’s a good way of keeping your Sorare transactions separate from your main current account. Some users may prefer this if they want to keep their main banking statements looking a little simpler. These accounts can typically be opened in under ten minutes with payment cards issued quickly for using online.
  • Avoid going down the bank transfer route whether automatic or manual. We’ve heard that some users have had success with this method but others have ended up waiting over 24 hours for their ETH to land – not ideal if you spot a bargain which you want to snag quickly!
  • Revolut do not currently authorise Ramp as an approved merchant. If you can only bank with Revolut you will need to find an alternative means of depositing
  • However well setup you are, be prepared there may always be some kind of delay before your ETH hits your account. We recommend keeping an ETH balance at all times in case you need it quickly!