The basic path: withdraw from Kraken to your bank via ACH or wire
To move money from Kraken to your bank account, you initiate a withdrawal from Kraken's platform, select your linked bank account as the destination, and Kraken sends the funds via ACH (Automated Clearing House) or wire transfer. ACH is slower but free; wire transfer is faster but costs money. The money lands in your bank account within one to five business days for ACH, or the same day to two business days for wire.
Before you can withdraw, you must link your bank account to Kraken and pass Kraken's verification process. This means providing your bank routing number and account number, and sometimes confirming small test deposits that Kraken sends to your account. Once linked and verified, you can withdraw whenever you want—there is no waiting period between linking and first withdrawal on most accounts.
The amount you can withdraw depends on your Kraken account tier. Starter accounts have lower limits; higher tiers unlock larger withdrawals. Kraken also has daily and monthly withdrawal caps that vary by tier and by whether you have completed their identity verification (called "Intermediate" or "Pro" verification).
Key Takeaways
- Link your bank account to Kraken by providing your routing and account number, then confirm the link through small test deposits Kraken sends to your bank.
- ACH withdrawals are free and take one to five business days; wire transfers cost a fee and arrive within one to two business days.
- Your withdrawal limit depends on your Kraken account tier and verification level—check your account settings to see your current limit.
- Withdrawals process on business days only, so a Friday withdrawal may not begin moving until Monday.
- If your bank rejects the deposit, contact Kraken support with your bank's rejection reason; common causes are mismatched account holder names or closed accounts.
Linking your bank account to Kraken
Go to your Kraken account settings and find the "Funding" or "Withdrawal Methods" section. Select "Add Payment Method" and choose "Bank Account." Kraken will ask for your bank's routing number, your account number, and the name on the account. Enter these exactly as they appear on your bank statements—mismatches are the most common reason withdrawals fail.
After you submit this information, Kraken sends two small deposits (usually under $1 each) to your bank account within one to two business days. Your bank will show these deposits in your account history. Log back into Kraken, go to the funding section, and enter the exact amounts of these two deposits. This confirms you own the account. Once confirmed, your bank account is linked and ready to use.
If the test deposits do not arrive within three business days, check that you entered your routing number correctly. A single wrong digit will send the deposits to the wrong bank. Contact your bank to confirm they have not received deposits from Kraken, then contact Kraken support with your account number and the date you linked the account.
Choosing between ACH and wire transfer
ACH is the standard option and costs nothing. Kraken initiates the transfer, your bank receives it, and the money appears in your account within one to five business days. Most withdrawals are ACH. The exact timing depends on when Kraken processes the withdrawal (usually within 24 hours of your request) and how fast your bank clears incoming ACH transfers (typically one to three business days after receipt).
Wire transfer is faster—the money usually arrives within one to two business days—but Kraken charges a fee for wire withdrawals. The fee varies by region and currency but typically ranges from $5 to $25. Use wire transfer only if you need the money urgently and the fee is worth the speed to you.
Some banks also charge a fee to receive wire transfers, though most do not. Check with your bank before requesting a wire if you want to know whether they will deduct a receiving fee from the amount that lands in your account.
Initiating a withdrawal and what happens next
Log into Kraken, go to "Funding," and select "Withdraw." Choose the currency you want to withdraw (USD, EUR, etc.), select your linked bank account as the destination, and enter the amount. Review the details—especially the account number and the amount—then confirm the withdrawal.
Kraken will show you a confirmation screen with an estimated arrival date. For ACH, this is usually three to five business days from the date you request. For wire, it is usually one to two business days. Save or screenshot this confirmation in case you need to reference it later.
Kraken processes withdrawals on business days only. If you request a withdrawal on Friday evening, it will not process until Monday. Once Kraken sends the withdrawal, you cannot cancel it—the money is on its way to your bank. If you need to stop it, contact Kraken support immediately, but they can only cancel withdrawals that have not yet left their system.
Withdrawal limits and account tiers
Kraken sets withdrawal limits based on your account tier. A Starter account (the default when you sign up) has lower limits than Intermediate or Pro accounts. To see your current limit, log into Kraken and check your account settings under "Funding" or "Verification."
Limits also depend on whether you have completed identity verification. Starter verification requires only an email address. Intermediate verification requires your full name, address, and date of birth. Pro verification requires additional documentation like a government ID or proof of address. The higher your verification level, the higher your withdrawal limit.
If you hit your daily or monthly limit, you must wait until the next day or month to withdraw more. Kraken's website will tell you when your limit resets. If you need to withdraw more than your current limit allows, you can upgrade your verification level, which may take a few business days to process.
What to do if your withdrawal fails or is rejected
If your bank rejects the deposit from Kraken, you will see a notification in your Kraken account. The most common reasons are: the account holder name on Kraken does not match your bank account exactly, your account number or routing number was entered incorrectly, or your bank account is closed.
Check your Kraken account settings and verify that the name, routing number, and account number are exactly correct. Even a middle initial missing or a nickname instead of your legal name can cause rejection. If you find an error, delete the bank account from Kraken and re-link it with the correct information.
If the information is correct but your bank still rejects the deposit, contact your bank and ask why the deposit was rejected. Provide them with the date of the attempted deposit and the amount. Once you know the reason, contact Kraken support and explain the issue. Kraken can sometimes re-send the withdrawal or help troubleshoot the problem.
Fees and timing summary
| Method | Kraken Fee | Typical Timing | When to Use |
|---|---|---|---|
| ACH | Free | 1–5 business days | You can wait a few days and want no cost |
| Wire Transfer | $5–$25 (varies by region) | 1–2 business days | You need the money quickly and the fee is worth it |
Remember that weekends and bank holidays do not count as business days. A withdrawal requested on Friday may not arrive until the following Wednesday or Thursday. If you are expecting money by a specific date, request it early enough to account for delays.
Keep your Kraken withdrawal confirmation number in case you need to contact support later. If a withdrawal does not arrive on time or your bank reports a problem, having the confirmation number speeds up the troubleshooting process.
Frequently Asked Questions
Can I withdraw to a bank account that is not in my name?
No. Kraken requires that the bank account holder name match the name on your Kraken account. This is a regulatory requirement to prevent money laundering. If you need to send money to someone else, withdraw to your own account first, then transfer it to them through your bank.
What if I entered the wrong bank account number?
If you realize the error before Kraken processes the withdrawal, cancel it immediately through your Kraken account. If Kraken has already sent it, contact Kraken support right away with the incorrect account number. They may be able to recall the transfer, but this depends on how far along the process is. Once your bank receives the deposit, it is too late for Kraken to stop it—you will need to contact your bank or the bank that received the funds by mistake.
Why is my withdrawal still pending after five business days?
ACH transfers usually complete within five business days, but delays happen. Check your Kraken account to confirm the withdrawal shows as "sent" or "completed." If it does, contact your bank and ask if they have received an incoming ACH transfer from Kraken. If your bank has not received it, contact Kraken support with your withdrawal confirmation number. If your bank has received it but it has not posted to your account yet, your bank is still processing it—this can take an extra day or two.
Do I pay taxes on money I withdraw from Kraken?
Withdrawing your own money is not a taxable event. However, if you sold cryptocurrency at a profit before withdrawing, that sale is taxable. Kraken provides a tax report showing all your transactions; consult a tax professional about what you owe based on your specific trades and your location.
Can I set up automatic withdrawals from Kraken?
Kraken does not offer automatic recurring withdrawals. You must initiate each withdrawal manually through your account. If you want to move money regularly, you can set a reminder to withdraw on the same day each week or month.