Fedwire Process - SynapseFi Deposits
In order to use the SynapseFi funding method to fund your Kraken account with cash you will need to get the deposit instructions from our step by step guide (below) and then send a Domestic Wire of U.S Dollars (USD) to your SynapseFi digital checking account at Evolve bank. If you are interested in using ACH transfers you may look into our ACH Online Banking product via the Kraken App or our digital wallet payment product using Applepay/Googlepay.
You submit a Fedwire Transfer ($20 minimum before our fees), also known as a Domestic Wire, from your bank account to the deposit account in your name.
Our funding provider processes the pending deposit (Up to two business days)
USD arrives in your Kraken account
- Check that your account fulfills the requirements.
- Sign into your account at https://www.kraken.com. SynapseFi funding is not supported on the mobile apps.
- Navigate to Funding at the top of the page.
- Check Show all assets or use the Search bar and type the asset you wish to deposit.
- Find US Dollar (USD) and select Deposit.
- Select SynapseFi (Wire, additional verifications) from the drop down menu for deposit method and sign the SynapseFi Terms of Service if not already accepted. If your Kraken account is set up in Texas you will not have a drop down menu and can skip to the Terms of Service agreement. Refer to this article if you have an error message or contact Kraken Support. Blank yellow errors can be ignored.
- Deposit limits for this method are lower than Kraken's. Enter the amount you intend to deposit (minimum transaction of $20 received) and ensure you don't exceed your SynapseFi limits.
- Before sending any funds go through our deposit checklist.
- Instead of entering your bank information on Kraken to initiate a deposit, you will be sending a Fedwire to the SynapseFi personal or business digital checking account you created to fund your personal or business Kraken account. (Personal to Personal or Business to Business only)
Please read the warnings above your SynapseFi account details and proceed to copy the instructions on your SynapseFi Deposit page. Afterwards you must send a wire transfer from your bank to your SynapseFi digital checking account. This process may vary slightly depending on your bank. To determine if you are sending a FedWire review this helpful Support article which includes how to send wires from popular banks.
Ensure the information provided to your bank is exactly as it appears within your Kraken account.
Account Name: Must be the exact name your Kraken account is registered under. Contact us via Live Chat if you would like us to confirm your name.
Address: 6070 Poplar Ave #100 Memphis, TN 38119
Routing Number: *********
Account Number: ********* (Sending funds to old or incorrect bank account number can result in extensive delay)
Bank Name: Evolve Bank and Trust
Bank/Branch Address: 6070 Poplar Ave #100 Memphis, TN 38119
Inputting incorrect funding instructions may cause funds to be inaccessible for an extended period of time.
Note: The account details shown are of a dedicated personal checking account for individual users at SynapseFi and for Pro Corporate users it's a business checking account held in the same name as that on your Kraken account.
Deposits sent from sundry accounts, clearing houses, brokerages or intermediaries may be returned back to them and not back to your account. Your bank will be need to locate the funds themselves and work with any intermediaries they used to send the funds.
Failure to provide accurate sender information or sending the funds from the correct account by your financial institution will cause substantial delays in getting access to the funds.