Difference between wire transfers and ACH

There are several differences between wire transfers (using Fedwire) and ACH transfers. Knowing the difference will help you to identify whether you are sending a wire transfer or an ACH transfer.

This is important to do because Kraken does not support deposits or withdrawals via ACH.

What are ACH Transfers?

ACH stands for “Automated Clearing House” which is a system created by the Federal Reserve specifically designed for regularly sending funds between accounts or sending and receiving payments.

What are Wire Transfers?

Wire transfers are facilitated either by a bank or through a third party provider, and allow you to quickly transfer money between two parties.

Please note that we can accept wire payments originating only from a bank account in your own name. And it is advisable to use an individual bank account and not a joint bank account as often times they are returned automatically.

Wire Transfers vs. ACH Transfers

There are a couple important factors to consider when choosing between wire transfers and ACH transfers:

Cost: A wire transfer will typically cost between $25-$30. This fee is charged to you by your bank. ACH transfers are usually free, or $5-$10 if you ask the bank to speed up delivery. If the transfer does not cost $25-$30, you are not sending a wire transfer, and the funds will not be credited to your Kraken account.

Speed: Wire transfers are always notated same day transfers. This does not mean that your funds will always be credited to your Kraken account the same day. Our partners may need to perform additional due diligence which can delay the settlement of your funds. If the transfer is not specified as a same day transfer, then you are not sending a wire transfer.


What is an IMAD/OMAD number?

How to deposit USD via FedWire?