How to withdraw EUR from Kraken

Kraken allows EUR withdrawals via SEPA bank transfers only, with fast processing, low fees, and strict verification for security.

Aug 04, 2025 at 06:29 am

Understanding Kraken’s EUR Withdrawal Options

Kraken is a well-established cryptocurrency exchange that supports multiple fiat currencies, including the Euro (EUR). Users can withdraw EUR from their Kraken account using several approved methods, primarily bank transfers via SEPA (Single Euro Payments Area). This system allows for fast and low-cost transfers within Europe. It’s essential to verify that your bank account is located in a SEPA-supported country to ensure smooth transactions. Kraken does not support SWIFT or international wire transfers for EUR, so only SEPA-eligible accounts are valid for withdrawals.

To initiate a withdrawal, users must have a verified Kraken account. Verification levels determine withdrawal limits and access to certain features. Ensure your identity and address verification are complete to avoid delays. Once verified, you can link your bank account through the Funding section of your Kraken dashboard. The linked bank must match the name on your Kraken account to comply with anti-money laundering (AML) regulations.

Setting Up a SEPA Bank Transfer

Before withdrawing EUR, you must register your bank account as a withdrawal destination. This process ensures security and prevents unauthorized transfers. To set this up:

• Log in to your Kraken account and navigate to the "Funding" tab.
• Select "Withdraw" and choose "EUR" as the currency.
• Click on "Add new bank account" under the SEPA option.
• Enter your bank’s IBAN (International Bank Account Number) and BIC/SWIFT code.
• Provide the account holder name, which must exactly match your Kraken profile.
• Confirm the details and wait for Kraken to validate the account, which may take up to 24 hours.

Once added, this bank account will appear in your list of withdrawal destinations. Kraken may send a small verification deposit (less than €0.01) to confirm ownership. You’ll need to confirm the exact amount received in your bank statement through the Kraken interface to finalize verification.

Initiating a EUR Withdrawal from Kraken

After setting up and verifying your SEPA bank account, you can begin the withdrawal process. Ensure you have sufficient EUR balance in your Kraken account. If your funds are in cryptocurrency, you must first convert them to EUR using the trading platform. Navigate to the spot trading section, select your cryptocurrency (e.g., BTC/EUR), and place a sell order.

To withdraw:

• Go to the "Funding" section.
• Click "Withdraw" and select "EUR".
• Choose your verified SEPA bank account from the dropdown list.
• Enter the amount you wish to withdraw.
• Review the transaction details, including any applicable fees.
• Confirm the withdrawal using your two-factor authentication (2FA) method.

Kraken typically processes EUR withdrawals within 1 to 5 business hours. The funds usually appear in your bank account within 1 business day, depending on your bank’s processing speed.

Withdrawal Limits and Fees

Kraken imposes daily and annual withdrawal limits based on your account verification level. For example, a fully verified "Intermediate" or "Pro" account may have a daily limit of €50,000 and an annual limit of €1,000,000. These limits are subject to change and can be viewed in the "Limits" section of your account dashboard.

Regarding fees, Kraken charges a flat fee per EUR withdrawal. As of the latest update, the SEPA withdrawal fee is €0.00, making it a cost-effective option for users in Europe. However, your bank may apply incoming transfer fees, so it’s advisable to check with your financial institution. Kraken displays the exact fee during the withdrawal confirmation step, ensuring transparency.

If you exceed your current limit, you can apply for a higher tier by submitting additional documentation, such as proof of income or enhanced ID verification. Processing times for tier upgrades vary but typically take 24 to 72 hours.

Troubleshooting Common Withdrawal Issues

Users may encounter issues when withdrawing EUR from Kraken. One common problem is a pending withdrawal that doesn’t reflect in the bank account. This delay is often due to bank processing times, especially over weekends or holidays. SEPA transfers are only processed on business days.

Another issue is invalid IBAN or mismatched account names. Double-check that the IBAN is correct and that the account holder’s name on Kraken matches the bank account exactly. Even minor discrepancies, such as missing accents or initials, can cause rejection.

If a withdrawal fails:

• Check your Kraken email for error notifications.
• Review the transaction history in the Funding section for status updates.
• Ensure your 2FA device is functioning properly, as failed authentication can halt withdrawals.
• Contact Kraken support with your transaction ID and screenshots of the error.

Some users report delays after changing their bank account details. In such cases, Kraken may require re-verification, which adds processing time.

Security Measures for Safe EUR Withdrawals

Security is critical when withdrawing funds from any exchange. Kraken employs multiple layers of protection. Always ensure you are logged in via a secure connection and that your 2FA is enabled (preferably using an authenticator app like Google Authenticator or Authy). Avoid using SMS-based 2FA due to SIM-swapping risks.

Never initiate withdrawals over public Wi-Fi. Use a trusted device and private network. Kraken also offers withdrawal whitelisting, which allows you to restrict withdrawals to pre-approved IP addresses or destinations. Enable this feature in the Security settings for added control.

If you notice an unauthorized withdrawal attempt, immediately lock your account via the Security tab and contact Kraken support. Provide your account email, recent login history, and any suspicious activity details.

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FAQs

Q: Can I withdraw EUR to a non-SEPA bank account?

A: No. Kraken only supports SEPA-compliant banks for EUR withdrawals. Banks outside the SEPA zone cannot receive EUR transfers from Kraken. Attempting to use a non-SEPA account will result in failed transactions and possible return fees from intermediary banks.

Q: How long does it take for EUR to appear in my bank account?

A: Most SEPA withdrawals arrive within 1 business day. Processing begins after Kraken confirms the transaction, which usually takes a few hours. Weekends and public holidays may extend the arrival time.

Q: Is there a minimum amount I can withdraw in EUR?

A: Yes. The minimum SEPA withdrawal amount on Kraken is €5. Attempting to withdraw less will result in an error. This threshold helps prevent micro-transactions that could trigger bank fraud alerts.

Q: What should I do if my bank rejects the incoming SEPA transfer?

A: Contact your bank to determine the reason—common causes include name mismatches, closed accounts, or internal fraud filters. Once resolved, re-initiate the withdrawal using the same verified bank details. Kraken will refund rejected transfers within 5 business days.