You must have a Kraken account verified to Tier 3 or higher and must be either:
- A Canadian resident; or
- A Canadian citizen living outside of the US.
- Account Name: This is what you put for the beneficiary / receiving customer
- Address: This is what you put into the beneficiary address
- Bank Name: This is the name of the receiving bank
- Bank Address: This is the address of the settlement bank
- SWIFT: This is the receiving bank's SWIFT CODE
- Account Number: This is our account number at the receiving bank
- Reference Number: This is your Kraken account number. Please make sure this is provided on your wire so your funds arrive to the receiving Kraken account.
To deposit CAD, go to your Kraken Account > Funding > Deposit > Canadian Dollar (CAD) page. There you will be provided with wire instructions for our CAD deposit account.
Please note that your bank may vary in how it requires the wire instructions and you should consult your bank for further information. We recommend using a bank representative to assist you create the wire
- The name on the bank account must match the name on your Kraken account.
- Make sure you don't go over the maximum deposit limit for your account. To see your deposit limit, go to Account > Funding > Deposit > CAD and note the value indicated as your "Maximum deposit" in the blue box on the right. Your maximum deposit amount is affected by deposits (and withdrawals) in any currency, not just CAD (i.e. bitcoin or USD deposits and withdrawals as well).
- Multiple deposits in the same amount made within 3 business days of each other may be delayed. If you make multiple deposits within 3 business days of each other, please send different amounts.
- You can trade as soon as the deposited funds clear, but please note that there will be a 24 hour withdraw hold on the deposited amount depending on what deposit method was used.
- If any of the wire information is incorrect on your transfer, this may result in delays or your wire being returned to the sending bank account. Please contact support for more information.
- This is our only funding method at this time and we do not accept transfers via debit card or credit card
- CAD wire transfers must be conducted through your bank account
- Please avoid sending close to the minimum deposit amount (C$200) incase there are any unexpected wire fees on your deposit. If we receive less than our minimum, your deposit will fail. See below for more information on the deposit fees
What are the deposit fees for CAD?
While Kraken doesn't charge fees for CAD deposits, the banks used in the wire transit process may charge additional fees at their discretion. These fees are not covered by us and they are out of our control. Fees applied may be as follows:
- Conversion fees
- Intermediary fees and applicable processing fees
- Wire/handling fees by the sending back and/or receiving bank
Do I need to use an intermediary for my CAD wire transfer?
Intermediaries may be needed by the sending bank in order to get your funds to our bank. While an intermediary is not required for us, you should consult your bank for further information.
What if there’s not enough room on the wire transfer sheet from my bank?
Please be sure to initiate your wire transfer from inside your local banking branch and ask for a banking representative to assist you. Please do your best to add as much of the wire instructions as possible if there is not enough room in one of the fields. Unfortunately if any of our wire instructions are missing on your transfer, we cannot confirm if we will receive your wire.
How much can I deposit?
As shown below, you can deposit up to your "Maximum deposit" amount, but your "Maximum" is the limit for CAD deposits. Please note these may vary and you should check your account to find your funding limits.