Fidor Bank will wind down its operations
We are working closely with Fidor to organize a seamless transition of our operations. Currently, we are no longer displaying the EUR deposit methods Fidor (SEPA) and Fidor (Wire Transfer) on the funding pages. We encourage you to use other EUR deposit and EUR withdrawal methods available on your funding page. For more information please review the frequently asked questions section below.
Fidor wind down FAQ
We have already started taking actions to encourage our clients to move to different funding options. We are taking these steps to ensure that our clients will have sufficient time to switch to other funding methods. At the same time, we are also working on enabling additional deposit and withdrawal options.
We will communicate with you in a timely manner before the funding option via Fidor is discontinued, as well as any other major updates. If you have any questions or concerns, please feel free to contact Support.
However, we no longer display the Fidor (SEPA) and Fidor (Wire Transfer) deposit methods on your account funding page and strongly encourage you to transition to one of the deposit methods currently displayed on your funding page.
However, we strongly encourage you to start using a different deposit method available on your Kraken account to avoid any disruptions. For an overview and additional information about our deposit methods, visit our cash deposit options article.
Fidor Bank funding provider
Fidor Bank provides support for EUR funding via SEPA and SWIFT. See below for the requirements you have to fulfil to use this funding option, as well as additional information.
- Your Kraken account must be verified to the Intermediate or Pro level.
- Your bank or financial institution account must be under the same legal name as your Kraken account.
- Your bank or financial institution must be located in the SEPA zone for SEPA deposits and withdrawals.
- For SWIFT EUR deposits, your bank or financial institution must be part of SWIFT. SWIFT deposits have to be sent in EUR and deposits in currencies other than EUR will be rejected by Fidor Bank. Your institution must also be located in one of the countries listed below. Transfers coming from countries not on this list are very likely to be rejected by Fidor. In addition, if you are a not a resident in one of the countries listed below, your transfer may also be rejected by Fidor.
- All SEPA countries
- The Bahamas
- Costa Rica
- Saint Lucia
- Saint Vincent and the Grenadines
- Turks and Caicos Islands
- New Zeland
Single Euro Payments Area (SEPA):
SEPA is a payment-integration initiative of the European Union and is used for sending cross-border Euro transfers between banks that are part of the SEPA network. Fidor Bank SEPA processes both deposits and withdrawals in EUR.
Society for Worldwide Interbank Financial Telecommunication (SWIFT):
SWIFT is a global messaging network used to securely send and receive information, such as money transfer instructions, between banks and other financial institutions. Fidor Bank SWIFT only accepts EUR deposits.