The basic process: what happens and how long it takes

To withdraw from Kraken to your bank account, you link your bank through Kraken's withdrawal system, request the amount you want to move, and Kraken sends it to your bank using the ACH network (in the US) or SEPA (in Europe). The money does not arrive when ready. US withdrawals typically take 3 to 5 business days after Kraken processes your request. European withdrawals via SEPA take 1 to 2 business days. Kraken itself usually processes your withdrawal request within a few hours during business hours, but the actual transfer time depends on your bank and the payment network, not Kraken.

You will need to have completed identity verification on your Kraken account before you can withdraw. Kraken requires this for all users who want to move money off the platform. If you have not done this yet, you cannot proceed to the withdrawal step—you must verify first, which can take anywhere from minutes to a few hours depending on how quickly Kraken's system processes your documents.

Key Takeaways

  • You must link your bank account to Kraken and complete identity verification before any withdrawal can happen.
  • US bank withdrawals use the ACH network and take 3 to 5 business days after Kraken processes your request; European withdrawals via SEPA take 1 to 2 business days.
  • Kraken charges a withdrawal fee that varies by currency and payment method—check the fee schedule on the withdrawal page before you confirm.
  • If your withdrawal does not arrive within the expected timeframe, contact your bank first, because delays usually happen on the banking side, not Kraken's.

How to link your bank account to Kraken

Log into your Kraken account and go to Settings, then Funding. Select the currency you want to withdraw (USD, EUR, GBP, or another supported currency). Click on the withdrawal method for that currency—usually "Bank Account" or "Wire Transfer" depending on what your region supports. Kraken will ask you to enter your bank's routing number (in the US) or IBAN (in Europe), your account number, and the account holder's name. The name must match the name on your Kraken account exactly, or your bank will reject the transfer.

After you enter this information, Kraken may require you to verify the bank account by sending two small test deposits to it. Your bank will show these deposits in your account within a few days. You then return to Kraken and enter the exact amounts of those deposits to confirm you own the account. This step protects both you and Kraken from fraud. Once verified, your bank account stays linked to your Kraken account and you can use it for future withdrawals without repeating this process.

The withdrawal request: what to do and what to expect

Go to Funding > Withdraw in your Kraken account. Select the currency and the linked bank account you want the money to go to. Enter the amount you want to withdraw. Kraken will show you the withdrawal fee for that transaction—this is not a flat amount and varies by currency and method. For example, a USD withdrawal via ACH might cost $0.25, while a EUR withdrawal via SEPA might be free or cost a few euros. Read the fee before you confirm, because it comes out of the amount you are sending.

After you confirm, Kraken processes the request. If you submit it during business hours (roughly 8 AM to 5 PM US time on weekdays), Kraken usually processes it the same day. If you submit it outside those hours or on a weekend, it queues until the next business day. Once Kraken processes it, the money leaves your Kraken account and enters the banking system. From that point, the timeline depends on your bank and the payment network, not Kraken.

Why your withdrawal might be delayed or rejected

The most common reason a withdrawal takes longer than expected is that your bank is slow to receive it. ACH transfers in the US can take up to 5 business days by design—that is how long the banking system allows. If you are on day 6 and the money has not arrived, contact your bank and give them the withdrawal confirmation number from Kraken. Your bank can trace the transfer and tell you where it is stuck.

A withdrawal can be rejected if the account holder name on your bank account does not match your Kraken account name exactly. If this happens, Kraken will notify you and the money returns to your Kraken account. You will need to either update your Kraken account name or link a different bank account where the name matches. Some banks also reject transfers if they flag the transaction as suspicious—this is rare but happens if you have not withdrawn before or if the amount is unusually large for your account history. Your bank will contact you if this occurs.

Fees and what they cover

Kraken charges a withdrawal fee that appears on the withdrawal confirmation page before you submit. This fee is separate from any fee your bank might charge. Most banks do not charge a fee for receiving an ACH transfer, but some do—check with your bank if you want to know. Kraken's fee covers the cost of processing the transfer through the payment network. The fee is deducted from the amount you withdraw, so if you request $1,000 and the fee is $0.25, your bank receives $999.75.

Wire transfers (available in some regions) have higher fees than ACH or SEPA transfers because they move faster and require more manual processing. If Kraken offers you a wire transfer option, the fee will be clearly stated and will be higher than the standard withdrawal method for your currency. Wire transfers typically arrive within 1 business day, but they cost more.

What to do if money does not arrive

Wait until the expected timeframe has passed. For US ACH, that is 5 business days. For SEPA, that is 2 business days. Business days do not include weekends or banking holidays. If the money has not arrived by then, log into your Kraken account and check the withdrawal history. You should see a confirmation number and a status. If the status says "completed" or "processed," the money has left Kraken and your bank is responsible for receiving it.

Contact your bank with the withdrawal confirmation number from Kraken and ask them to trace the transfer. Give them the exact amount, the date you requested it, and Kraken's name as the sender. Your bank can see whether the transfer arrived in their system and where it is now. If your bank says they never received it, contact Kraken support with the confirmation number and ask them to investigate on their end. Kraken can see whether the transfer was actually sent to the banking network.

Do not request the withdrawal again while you are investigating the first one. Duplicate requests can cause confusion and may result in two transfers arriving days apart. Wait for the first one to be resolved before submitting another request.

Frequently Asked Questions

Can I withdraw on weekends or holidays?

You can submit a withdrawal request any time, but Kraken only processes requests during business hours on weekdays. If you submit on a weekend or holiday, it queues until the next business day. The banking system also does not process transfers on weekends or holidays, so the 3 to 5 day timeline for ACH does not start until the first business day after Kraken processes your request.

What if I entered the wrong bank account number?

If you catch the error before Kraken processes the request, cancel the withdrawal and submit a new one with the correct information. If Kraken has already processed it, the transfer will likely be rejected by the banking system and returned to your Kraken account within a few days. You can then resubmit with the correct account number.

Do I have to verify my identity again if I link a new bank account?

No. Once you have completed identity verification on your Kraken account, you can link multiple bank accounts without verifying again. Each new bank account goes through the test deposit verification process, but your personal identity verification stays on file.

Is there a minimum or maximum amount I can withdraw?

Kraken sets minimum and maximum withdrawal amounts that vary by currency and region. These limits appear on the withdrawal page when you select your currency and method. Minimums are usually small (under $10 for most currencies), but maximums can be restrictive if you are a new user or have low trading volume. Your limits may increase over time as your account history builds.

What happens if my bank rejects the transfer?

Your bank will reject the transfer if the account holder name does not match, if the account number is wrong, or if your bank flags it as suspicious. When this happens, the money returns to your Kraken account, usually within 3 to 5 business days. Kraken will notify you of the rejection. You can then resubmit the withdrawal with corrected information or contact your bank to resolve the issue on their end.