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BCB BLINC funding provider

BCB Group’s Liquidity Interchange Network Consortium (BLINC) is Kraken’s new instant funding method. BLINC allows clients with a business account with Pro limits who are registered in the United Kingdom to fund their account with EUR and GBP.

To take advantage of this option, your business has to be a client of the BCB Group and a member of BLINC network. BLINC enables all clients of the BCB Group ecosystem to settle transactions in real-time.

If your business is not a client of the BCB Group yet, our team will also be happy to assist you and facilitate your onboarding with BCB. In the future, we look forward to offering this service to clients beyond the United Kingdom.

Requirements

To use the BLINC funding method you must meet the below requirements:

  • Your Kraken account must be a business account with Pro limits.

  • Your Kraken account must be registered with an address in the United Kingdom.

  • Your business must be a client of the BCB Group and a member of the BLINC network.

  • Your BCB account must be registered under the same legal name as your Kraken account.

Fees and limits

Kraken does not charge fees for transfers within the BLINC network. Processing times for BLINC transfer are near-instant.

Withdrawals are limited on a 24-hour rolling basis. Please speak with your Account Manager or contact Support to discuss your limits. Additionally, cash deposits and withdrawal limits associated with your Kraken account are applied.

How to activate funding via BLINC
  1. 1

    Please contact your dedicated Account Manager or submit a request here.

  2. 2

    If you are submitting a request using the the contact form:

    - Enter your email address.

    - In the next dropdown "What type of issue are you experiencing" select Other.

    - Then select your chosen currency and state that you would like access to BLINC.

    Please also add if your business is already a client of the BCB Group, and, if this is not the case, if you would like our team to facilitate your onboarding with them.

  3. 3

    Once your request has been submitted, our Support team or your Account Manager will review your account for activation and reach out to you with more information.

Deposit and withdrawal instructions

For step-by-step deposit instructions:

The BLINC funding method will need to be activated on your account for you to see the BLINC option in both the Deposit method dropdown and the Withdrawal option dropdown.

BLINC deposits: after you have selected the option from the dropdown, the relevant instructions will be displayed to you. You will be provided with the Name on the account, the BLINC ID and the Reference to initiate a payment from your BLINC account. The reference is needed in order for our system to assign your deposit to your Kraken account. Please add it in the field “REFERENCE” when initiating a payment from your BLINC account.

For step-by-step withdrawal instructions:

BLINC withdrawals: after you have selected the BLINC Withdrawal option from the dropdown, click on Add new withdrawal account, then provide the Description (only for your use), and your BLINC ID which can be retrieved from your BCB account portal. Please make sure you provide the BLINC ID for the relevant currency (e.g., if you intend to withdraw EUR, you should provide the BLINC ID for your BLINC - EUR account). If needed, you may also make changes to the beneficiary name, although this may require our team to do some manual checks once you submit a withdrawal. As always, the name on the Kraken account should match the name on the beneficiary account. Once you have saved the withdrawal account, you may initiate a withdrawal using the BLINC withdrawal option.