The basic steps to move money from Kraken to your bank
To withdraw from Kraken to a bank account, you log into the Kraken app, go to the Funding section, select Withdraw, choose your bank account from your saved payment methods, enter the amount, and confirm the transaction. The money then moves through the ACH network (in the US) or your country's equivalent payment system, which typically takes 3 to 5 business days to land in your account.
Before you can withdraw, you must have already linked a bank account to your Kraken profile and passed Kraken's verification process for that account. This is a one-time setup that protects both you and the exchange from fraud.
The speed and any fees depend on which withdrawal method you choose. Kraken offers several routes—standard bank transfer, express bank transfer, and in some regions, other options—each with different timelines and costs.
Key Takeaways
- You must link and verify a bank account in Kraken before you can withdraw; this verification usually takes one business day.
- Standard ACH withdrawals to US bank accounts take 3 to 5 business days and typically have no fee from Kraken, though your bank may charge one.
- Express bank transfers arrive faster (often 1 business day) but cost more; Kraken charges a flat fee that varies by region.
- Your withdrawal amount may be limited by Kraken's tier system, which depends on how much identity information you have provided.
- Once you initiate a withdrawal, you cannot cancel it after it leaves Kraken; if it fails, the money returns to your Kraken account within a few days.
How to link your bank account to Kraken for the first time
Open the Kraken app and tap the menu icon (three horizontal lines), then select Funding. Tap Withdraw, and you will see an option to add a new payment method. Select your country and bank, then enter your account number, routing number (in the US), and the name on the account. Kraken will ask you to confirm that the name matches your Kraken profile.
After you submit this information, Kraken sends two small test deposits to your bank account—usually $0.01 and $0.02—within one business day. You then return to the Kraken app and enter the exact amounts of those deposits to verify you own the account. This two-deposit method is the standard way banks and payment networks confirm account ownership without requiring you to log into your bank directly.
Once verified, your bank account appears in your list of saved payment methods and you can use it for withdrawals. This setup is permanent; you do not have to repeat it for future withdrawals to the same account.
Standard ACH withdrawal versus express bank transfer
Standard ACH withdrawal is the slower, cheaper option. Kraken charges no fee on its end, though your bank may charge a small fee (typically $0 to $5) for receiving an incoming wire or ACH transfer. The money takes 3 to 5 business days to arrive because it moves through the Automated Clearing House network, which batches transactions and settles them on a fixed schedule.
Express bank transfer is faster but costs more. Kraken charges a flat fee (which varies by country and region—check Kraken's fee schedule in the app before you confirm) and the money usually arrives within 1 business day. This method uses a different rail, often a real-time payment network or a priority processing service, rather than standard ACH.
Choose standard ACH if you are not in a hurry and want to avoid the extra fee. Choose express if you need the money quickly and the fee is worth it to you. There is no middle ground; Kraken does not offer a 2-day option.
Withdrawal limits and how your Kraken tier affects them
Kraken sets withdrawal limits based on your verification tier, which depends on how much identity information you have provided. At the lowest tier (Starter), you may have a daily or monthly limit of a few thousand dollars. As you move up tiers by providing more documentation—proof of address, source of funds, or other information—your limits increase.
You can see your current tier and limits by opening the Funding section and tapping on your bank account. If you hit your limit, you have two options: wait for the limit to reset (usually monthly), or complete additional verification steps to move to a higher tier. Kraken will tell you exactly what documentation it needs for the next tier.
These limits are separate from any limits your bank may impose on incoming transfers. Some banks restrict how much you can receive in a single day or month, so if you are moving a large amount, check with your bank first.
What happens after you confirm a withdrawal
Once you tap Confirm on the withdrawal screen, the money leaves your Kraken balance immediately and enters the payment system. You will see the transaction in your Kraken history marked as "Pending" or "Processing." At this point, the withdrawal is locked in—you cannot cancel it through the Kraken app.
For standard ACH, the transaction will show as pending for 3 to 5 business days while it moves through the clearing house. For express transfers, it usually settles within 1 business day. During this time, you can check the status in your Kraken app, but the outcome is already determined.
Once the money arrives in your bank account, your bank will send you a notification (email, text, or app alert, depending on your bank's settings). The transaction will then appear in your bank's history with Kraken's name or a payment processor's name as the sender.
What to do if a withdrawal fails or takes too long
If a withdrawal fails—usually because of a mismatch in account information or a problem on your bank's end—the money returns to your Kraken account within 3 to 5 business days. Kraken will mark the transaction as Failed or Returned in your history. You can then try again, but first check that your account number and routing number are correct.
If a withdrawal is taking longer than expected, first check whether you chose standard or express. Standard ACH can take up to 5 business days, and weekends do not count. If it has been more than 5 business days for standard or 2 business days for express, contact Kraken support through the app. Have your transaction ID ready; you can find it in your Kraken history by tapping the transaction.
Do not contact your bank to cancel the transfer unless Kraken support tells you to. Banks can sometimes reverse incoming transfers, but the process is slow and may not work if the money has already settled. Kraken support can often resolve the issue faster.
Fees, taxes, and what to track for your records
Kraken charges no fee for standard ACH withdrawals, but your bank may charge a small fee for receiving an incoming transfer. Express bank transfers carry a flat fee from Kraken that you will see before you confirm the withdrawal. Some banks also charge a fee on top of that, so check your bank's fee schedule if you are using express.
Every withdrawal is a taxable event in most countries. When you move money from Kraken to your bank, you are converting cryptocurrency to fiat currency, which may trigger a capital gains tax if the value of the crypto has changed since you bought it. Keep records of the withdrawal date, amount in USD (or your local currency), and the crypto value at the time of withdrawal. Your tax software or accountant will need this information.
Kraken provides a transaction history in the app and also sends annual tax documents (like a 1099-K in the US, if you meet the threshold) to help you report this to tax authorities. Download or screenshot your withdrawal history for your own records, especially if you make frequent withdrawals.
Frequently Asked Questions
Can I withdraw to someone else's bank account?
No. Kraken only allows withdrawals to bank accounts that are registered in the same name as your Kraken profile. This is a standard anti-fraud and anti-money-laundering requirement. If you need to send money to someone else, withdraw to your own account first, then transfer it from your bank to theirs.
What if my bank rejects the incoming transfer?
If your bank rejects the transfer for any reason, the money returns to your Kraken account within a few days. Common reasons for rejection include a closed account, a frozen account, or a mismatch in the account holder's name. Contact your bank to find out why it was rejected, fix the problem, and try again.
Do I have to withdraw all my crypto at once?
No. You can withdraw any amount up to your daily or monthly limit. You can also make multiple withdrawals on the same day if you want, though each one counts toward your limit. There is no minimum withdrawal amount, though your bank may have one.
How long does it take to verify my bank account the first time?
The two test deposits usually arrive within one business day. Once they arrive, you enter the amounts in the Kraken app to verify ownership, and your account is ready to use immediately. The entire process typically takes 1 to 2 business days from start to finish.
Can I use a debit card instead of a bank account to withdraw?
Kraken does not support withdrawals to debit cards. You must use a bank account linked via ACH (in the US) or your country's equivalent bank transfer method. Debit cards are only available for deposits on Kraken, not withdrawals.