All first-time fiat deposits will result in a temporary (72 hour) withdrawal hold on the account.
SynapseFi provides funding for one of our deposit methods available to US residents. Synapse’s Kraken offering supports domestic USD Fedwire transfers and is only available to eligible US clients. This unique offering allows you to establish an individual or business checking bank account with them for sending deposits.
- Your Kraken account must be verified to the Intermediate or Pro level. Additional document verification may be required.
- Your bank/financial institution account must be under the same legal name as your Kraken account and sending from a payment processor will not be accepted.
- Your bank/financial institution must be located in the United States.
Wire transfers are facilitated through your bank and allow you to quickly transfer money between two parties. In order to do so, the institution’s wire instructions must be provided to the sending bank.
Synapse imposes their own daily; monthly; and annual funding limits, which differ to the limits set by Kraken. Detailed information can be found here for Synapse Funding limits.