This article is for clients using Kraken (kraken.com)
If you are looking for information on how to withdraw funds on Kraken Pro, you can find out how here!
Withdrawal hold
Certain deposits, such as first time ACH purchases, credit or debit card purchases or digital wallet purchases will trigger a temporary (72 hour) withdrawal hold on the account, for security purposes. For ACH deposits via Plaid a seven day withdrawal hold will apply after each deposit.
For mobile app withdrawal instructions follow the guides linked below:
Withdrawal instructions
- Sign in to your Kraken account and navigate to the Funding tab.
- Click Withdraw and use the Search bar to find your preferred currency.
- Select a Funding Provider from the drop-down menu. If you are only shown one option, you can skip this step and continue with step 4; or follow the instructions for withdrawing funds with Etana Custody or Synapse.
- Add a new bank account.
- Click on Continue.
- Fill in your bank account details (all fields are mandatory) and click on Add bank account.
- Description can be whatever you like so you can easily remember this bank account. This description must be unique, not used on any other withdrawal method in your Kraken account.
- Name on account is the bank account holder name, which must match the verified name or entity on this Kraken account. For some funding providers, the name field will automatically populate when adding a bank account. If any changes to the name are required please submit a support request here.
- Please refer to our frequently asked questions for more information about the different requirements.
- Request a withdrawal.
- Repeat steps 1, 2 and 3.
- Scroll to the bottom of the page, and select the bank account from the drop-down menu.
- Enter the amount you wish to withdraw and click on Review Withdrawal.
- Do not use punctuations or currency symbols (use 1000 instead of €1,000).
- Check that the details are correct and click Withdraw USD to confirm the withdrawal.
- To help your withdrawal go smoothly:
- Ensure that you are not withdrawing to a third-party payments processor.
- Check that your bank or financial institution meets the requirements of your selected Funding Provider.
- Only use a bank account under your control, where the name matches the verified name or entity on your Kraken account.