The Canada Post In-Person Payment (IPP) method allows our Canadian clients to quickly fund their Kraken accounts from their nearest Canada Post locations.
IMPORTANT: This method is for deposits only. You will not be able to withdraw funds through Canada Post.
In order to access In-Person Payments, your Kraken account must:
- Be registered in Canada
- Be verified to Intermediate or Pro level
- Use a phone number that is not registered with any other Kraken account.
1. Select the "Funding" page from the navigation menu at the top of your screen.
2. Select the "Deposit" button next to your Canadian Dollar balance.
3. Select "In-Person Payments (IPP)" option from the drop-down menu of deposit methods.
4. Take a clear photo or screenshot of your QR code.
Important: in order for a QR code to be generated, the phone number on your Kraken account cannot be registered with any other Kraken account.
5. Go to your local Canada Post office and have them scan your QR code.
6. Pay with cash or debit.
7. The funds should reach your Kraken account within 30-60 minutes.
For fiat deposits we normally advise clients to send varying uneven amounts to prevent transfers being flagged as potential duplicates. However, please do not do this with Canada Post.
Canada Post prefers that clients use consistent and even amounts.
For example, if you wish to send 1,750 CAD, it is recommended that you break it up as follows: 500 CAD, 500 CAD, 500 CAD, 250 CAD.
The transaction limit is 500 CAD.
Multiple transactions per day are permitted, but the total daily limit is C$7,500.
Per transaction, Canada Post charges a fee of 3.95 CAD to send the deposit and Kraken charges a fee of 1.25 CAD + 0.25% to receive the deposit.