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 two business days)
Our funding provider sends USD to the bank details provided within one business day.
The withdrawal in Kraken will listed as Sending for a little over three weeks because banks do not inform us if funds are credited successfully.
The withdrawal in Kraken is marked as Success after not receiving a return within the first three 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.
- Click the Withdraw button and use the Search bar to find US Dollar (USD).
- 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 skip this step.
- Carefully follow the additional instructions at the top of the page.
- Either select a saved bank account or add a new bank account (Maximum of 2) using your bank's FedWire routing details. The intermediary bank info is optional and only for banks that specifically require it. Consult with your bank if you are unsure.
If you receive an error when adding your bank's details ensure you have not exceeded the maximum of 2 saved bank accounts and refer to the common Synapse issues below.
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. This includes most small Credit Unions, Brokerages and "Virtual Banks" that do not have dedicated bank accounts for clients and instead use one large omnibus account.
- 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- If you do not receive withdrawn funds within three business days, contact Kraken Support.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.