Fidor-to-Fidor deposits and withdrawals

Fidor-to-Fidor deposits and withdrawals allow Fidor DE (unfortunately not Fidor UK) bank accounts holders to send other Fidor DE bank account holders transactions within minutes, via the functionality know as Freunden Geld sender (“send money to friends”).

Kraken holds a bank account with Fidor Bank AG in Germany that is used to process of most of EUR transactions. Kraken also benefits from this option as all Fidor DE customers with Kraken accounts can send deposits and withdrawals to and from their Fidor DE bank account to their Kraken accounts very quickly.

Near-instant transactions from a bank account to a digital asset exchange like Kraken come with additional compliance risks. As a result every first-time transaction from and to a Fidor DE bank accounts account requires additional checks from a compliance specialist at Fidor DE. This means that the first transaction will not be processed within minutes, but will appear on the funding page with the status “On Hold”. It will be automatically released after the transaction has been reviewed and approved.