All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.
For eligible US clients, Silvergate Bank provides a faster way to deposit or withdraw USD. Domestic (US bank to US bank) transfers are processed via Fedwire and take 1 to 5 hours to process during US banking hours. Banking cutoff time is 3pm EST.
For eligible International clients, Silvergate Bank provides an alternative to US-only USD funding options. International transfers are processed via SWIFT and may require more time to settle.
- Your Kraken account must be verified to the Intermediate or Pro level.
- Your bank/financial institution account must be under the same legal name as your Kraken account.
- Exceptions (in addition to OFAC-limited jurisdictions), clients based in Texas (USA), Central African Republic, Lebanon, Libya, Russia, Somalia, Venezuela and Yemen are not eligible for this service.
- Clients of the Bank of China are not able to use this service.
How to apply?
If you meet the above criteria and have a verified Intermediate or Pro account, please submit an application for Silvergate Bank funding option.