All first-time cash deposits will result in a temporary (72 hour) withdrawal hold on the account.
Fedwire Process - Synapse Withdrawals
(Estimated processing time 1-3 business days)
You submit a Fedwire Transfer (also known as a Domestic Wire) from your Kraken account to the account details you saved
Our funding provider processes the request (up to 3 business days)
USD is sent to the bank details provided.
The withdrawal in Kraken will listed as "Sending" for a little over 2 weeks because banks do not inform us if funds are credited successfully.
The withdraw in Kraken is marked as Success after not receiving a return within the first 2 weeks.
To withdraw USD from within the US (domestic):
- Check that your account fulfills the requirements.
- Sign into your account at https://www.kraken.com.
- 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 withdraw.
- Find ‘US Dollar (USD)’ and select ‘Withdraw’.
- Select 'Synapse (Wire, additional verifications)' from the drop-down menu. If your Kraken account is set up in Texas you will not have a drop down menu and can simply skip this step.
- Carefully follow the additional instructions at the top of the page.
To help your withdrawal go smoothly, check the following:
- Account ownership: Make sure the name on the bank account matches the name on your Kraken account.
- Compatible account: Make sure that you are entering a FedWire account and FedWire routing numbers and not an ACH account and ACH routing numbers.
- Compatible bank: Make sure you are not withdrawing to a third-party payments processor.
- Withdrawal limits: Make sure the withdrawal will not result in you exceeding your USD daily or monthly withdrawal limits.
- If you are receiving a "Service Unavailable" error when adding a bank account, see this support article.
- If you do not receive withdrawn funds within 3 business days contact Kraken support. The "Sending" status only means that we have yet to receive a return. If funds are found to be returned after the withdrawal has marked as Successful, there will be significant delays in having funds manually credited back to your Kraken account.
- If your withdrawal has failed contact Kraken support.
- Our funding provider may request a USA passport in some cases, as well as limit funding transactions to only from within the USA.