What are the requirements to use domestic USD funding?
In order to have access to domestic USD deposits and withdrawals, you must be resident in a supported state and your Kraken account must be verified to Tier 3 or Tier 4.
Note: if your account is already verified to Tier 3 or above but has a scan of an expired ID, you will need to upload a scan of your current ID. Please contact support at firstname.lastname@example.org if you are in this situation.
How do I activate domestic USD funding?
To activate domestic USD funding, in your Kraken account go to Funding > Deposit > USD. Then select the deposit method SynapsePay (US Wire) and follow the instructions for activating domestic USD funding.
If your account is verified at Tier 1 or 2, you will first need to verify to at least Tier 3 before following the instructions above. To verify your account to a higher tier, log in to your account and go to “Get Verified".
How do I deposit USD using domestic wires?
After you have activated domestic funding you can deposit USD on the Funding > Deposit > USD page when you select the method SynapsePay (US Wire). If it is your first time depositing then you will have to add a USD withdrawal account. You can do this by clicking on the "Manage" button and following the instructions to add a withdrawal bank account.
Once you have successfully added a withdrawal bank account you can deposit USD on the Funding > Deposit > USD >SynapsePay (US Wire) page.
To help your deposit go smoothly, please follow the guidelines below:
- Make sure you don't go over your maximum deposit limit. To see your deposit limit, go to Funding > Deposit > USD and note the value indicated as your "Maximum deposit."
- The name on the bank account you are depositing from must match the name on your Kraken account.
- 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.
How do I withdraw USD using domestic wires?
After you have activated domestic funding you can make a withdrawal on the Funding > Withdraw > USD page when you select the method SynapsePay (US Wire). If this is your first time making a withdrawal then you need to add a withdrawal bank account. You can do this by clicking the "+Add Account" button and adding your bank account details.
Once you have successfully added a withdrawal bank account you can then submit USD withdrawals by selecting the desired account from the "Bank account" drop down menu on the Funding > Withdraw > USD >SynapsePay (US Wire) page.
Important: The name on the bank account you are withdrawing to must match the name on your Kraken account.
Who is our US Payment Partner?
We partner with SynapsePay for domestic USD deposits and withdrawals. You do not need to create an account at SynapsePay to send/receive funds. They operate our back-end to send and receive wire transfers.