All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.
Fedwire Process - Synapse Deposits
You submit a Fedwire Transfer (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 5 business days)
USD arrives in your Kraken account
To deposit USD via Synapse wire transfers:
2. Sign into your account at https://www.kraken.com .
3. Navigate to ‘Funding’ at the top of the page.
4. Check ‘Show all assets’ or use the Search bar and type the asset you wish to deposit.
5. Find ‘US Dollar (USD)’ and select ‘Deposit’.
6. Select ‘Synapse (Wire, additional verifications)’ from the drop down menu for deposit method.
7. Deposit limits for this method are lower than Kraken's. Ensure you don't exceed your limits.
8. Carefully follow all additional instructions on the deposit page and go through our deposit checklist before sending any funds.
9. Send a wire transfer from your bank by providing the USD funding instructions as shown on your Synapse page. This process may vary slightly depending on your bank.
10. Account: The account details shown are of a dedicated checking account held in the same name as that on your Kraken account.
Ensure the information provided to your bank is exactly as it appears within your Kraken account.
Example USD Deposit Details
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 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: No deposit reference is required when sending funds to Evolve Bank and Trust.