Below is a list of banks that are against deposits to, or withdrawals from, Kraken and other cryptocurrency exchanges. If you want to deposit or withdraw fiat currencies on Kraken, you'll need to use a bank that's not on this list.
- Fire (Ireland)
- Monzo (UK)
- Revolut (UK)
- Transferwise (UK) (allows withdrawals from Kraken, but not deposits to Kraken)
Rietumu Banka (Latvia)
- Qatar Bank Authority has blacklisted cryptocurrency exchanges
This list is just a tiny sample. The challenge is that most banks look at transfers on a client-by-client basis, rather than an out-right ban, so be sure to maintain a good relationship with your branch. We can provide a letter if your bank requests one.
Ironically, most of the issues we've seen with funding have been with online-only "cloud" banks. In contrast, traditional banks with physical branches have generally worked fine with our clients.
If your bank doesn't like transfers to/from cryptocurrency exchanges for whatever reason, you can try opening an account with one of the banks we work with.
In your Kraken account, on the deposit instructions page for each fiat funding method, you'll see the relevant partner bank's name as part of the instructions. For example, for EUR SEPA deposits, we work with Fidor bank.
Alternatively, if you have another bank in mind, our funding team can check its Bank Identifier Code (BIC) to see if we've had any recent issues with it.