The basic process: connect your bank, verify it, then withdraw
To withdraw money from Kraken to your bank account, you connect your bank through Kraken's withdrawal system, verify the connection with small test deposits, and then request a withdrawal. Kraken sends the money via ACH (Automated Clearing House), which is the standard electronic transfer system for US bank accounts. The whole process takes three to five business days from the moment you request the withdrawal, though the connection setup can happen in minutes.
You'll need your bank's routing number and your account number. Kraken will ask for these when you add your bank as a withdrawal destination. Once you've entered them, Kraken deposits two small amounts (usually under a dollar each) into your account within one to two business days. You then log back into Kraken, confirm the exact amounts of those deposits, and your bank is verified. After that, you can withdraw whenever you want.
The money moves from your Kraken account to your bank account, not the other way around. If you're trying to fund your Kraken account instead, that's a different process using a linked bank account or a debit card.
Key Takeaways
- You must add your bank account to Kraken first, then verify it with two small test deposits before any withdrawal can go through.
- Kraken withdrawals use ACH, which takes three to five business days after you request the withdrawal.
- You need your bank's routing number and your account number to set up the withdrawal destination.
- Kraken may charge a withdrawal fee, which varies depending on your account tier and the withdrawal method; check the current fee on Kraken's withdrawal page before you submit.
- If a withdrawal fails or takes longer than expected, contact Kraken support with your transaction ID, which appears in your withdrawal history.
Step-by-step: adding and verifying your bank account
Log into your Kraken account and go to the Funding section, usually found in the main menu or under your account settings. Select "Withdraw" and then choose your currency (USD if you're withdrawing dollars). Kraken will show you withdrawal methods; select "Bank Account" or "ACH" depending on how Kraken labels it in your region.
Click "Add New Bank Account" or a similar button. Enter your bank's routing number (a nine-digit code your bank provides, or you can find it on a check or through your bank's website) and your account number. Some banks also require the account type (checking or savings). Kraken will confirm these details and then deposit two small test amounts into your account.
Check your bank account one to two business days later. You'll see two deposits, each under one dollar, with descriptions that include amounts like $0.15 and $0.32. Return to Kraken, go back to the bank account you added, and enter those two exact amounts. Kraken verifies them, and your bank account is now linked. You can now withdraw money whenever you want.
How long withdrawals actually take
Once your bank account is verified, a withdrawal request takes three to five business days to complete. This is the standard ACH timeline. The clock starts the moment you submit the withdrawal request, not when you initiate it. Weekends and bank holidays add extra time; a withdrawal requested on Friday afternoon may not clear until the following Wednesday or Thursday.
Kraken processes your withdrawal request immediately, but the actual movement of money happens through the ACH network, which is run by the Federal Reserve and processes transfers in batches. Your bank receives the transfer and deposits it into your account, but this step also takes time because banks process ACH deposits in batches, usually once or twice per day.
Some banks credit ACH deposits faster than others. A few banks post ACH transfers the same day or next business day, while others wait the full three to five days. Check with your bank if you need to know their specific timeline. Kraken's part is usually done within one business day; the rest is your bank's processing.
Withdrawal fees and limits
Kraken charges a withdrawal fee for ACH transfers, but the amount depends on your account tier and can change. As of now, Kraken's fee structure varies by region and account level, so check Kraken's current withdrawal fees before you submit. The fee is deducted from the amount you're withdrawing, so if you request $500 and the fee is $1, you'll receive $499.
Kraken also sets withdrawal limits based on your account verification level. A basic verified account can withdraw a certain amount per day or per month; higher verification levels allow larger withdrawals. If you're trying to withdraw more than your current limit allows, you may need to wait until the next period or increase your account verification level, which requires additional identity confirmation.
Your bank may also have limits on how much you can receive via ACH in a single day or month. This is separate from Kraken's limits. If you're moving a very large amount, contact your bank first to make sure they won't block or delay the transfer.
What to do if a withdrawal fails or is delayed
If your withdrawal doesn't arrive after five business days, log into Kraken and check your withdrawal history. Find the transaction and note its ID number. The status should show whether it's pending, completed, or failed. If it shows completed but the money hasn't reached your bank, contact your bank first—the transfer may be stuck in their system or flagged for review.
If Kraken shows the withdrawal as failed, the most common reasons are a typo in your routing number or account number, a closed or frozen account at your bank, or a mismatch between the name on your Kraken account and the name on your bank account. Kraken will usually send you an error message explaining why. Fix the issue and try again, or contact Kraken support with your transaction ID if the error message is unclear.
If your bank flagged the transfer as suspicious and held it, they may return it to Kraken automatically. When that happens, Kraken credits the money back to your Kraken account, usually within one to two business days. You can then try the withdrawal again or contact your bank to ask them to accept transfers from Kraken in the future.
Withdrawing to a different bank account
You can add multiple bank accounts to your Kraken account. Each one must be verified separately with the two test deposits. This is useful if you want to split withdrawals between accounts or if you change banks. To add another account, go to Funding, select Withdraw, and choose "Add New Bank Account" again. Follow the same verification process.
You cannot withdraw to someone else's bank account. The account must be in your name, and the name on your Kraken account must match the name on the bank account. If your name has changed or there's a mismatch, update your Kraken profile first or contact Kraken support to resolve it before attempting a withdrawal.
Frequently Asked Questions
Can I withdraw on weekends or holidays?
You can request a withdrawal any time, but Kraken and the ACH network don't process transfers on weekends or federal holidays. A withdrawal requested on Saturday won't start processing until Monday. The three- to five-day timeline begins on the next business day after you submit the request.
What if I entered the wrong routing number or account number?
If you entered incorrect details, the withdrawal will fail and Kraken will return the money to your Kraken account. You'll see an error message in your withdrawal history. Delete the incorrect bank account from your Kraken profile and add it again with the correct information, then verify it with the test deposits.
Do I pay taxes on money I withdraw from Kraken?
Withdrawing money itself is not a taxable event—you're moving money you already own. However, if you sold cryptocurrency for a profit before withdrawing, that sale is taxable. Keep records of all your trades and withdrawals for tax purposes. Kraken provides a transaction history you can download for your tax records.
Can Kraken reverse a withdrawal after I request it?
Once a withdrawal is submitted and processing, Kraken usually cannot reverse it. If you need to cancel, contact Kraken support immediately with your transaction ID. If the withdrawal hasn't left Kraken's system yet, they may be able to stop it. If it's already in the ACH network, it will reach your bank, and you'll need to contact your bank to reverse it on their end.
Why is my withdrawal showing as pending after five business days?
Check with your bank first—they may be holding the transfer for review or it may be delayed in their system. If Kraken shows the withdrawal as completed, the money has left Kraken and is in the ACH network or at your bank. Contact your bank's customer service with the transfer amount and date. If Kraken shows it as pending, contact Kraken support with your transaction ID.