First time deposits and purchasesIf you have never made a cash deposit, first time card purchases will result in a temporary (72 hour) withdrawal hold on the account.
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.
- Your Kraken account must be verified to the Intermediate or Pro level.
- Use a phone number that is not registered with any other Kraken account.
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.
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.
Limits: Clients can make deposits, up to 500 CAD per transaction and a total of 7,500 CAD per day using this funding method.
For step-by-step instructions, see: how to deposit funds using Canada Post.
The decimal and thousands separators shown in this article may differ from the formats displayed on our trading platforms. Review our article on how we use points and commas for more information.