How to link a bank account to Kraken?

Linking a bank account to Kraken enables seamless fiat deposits and withdrawals, allowing users to easily trade cryptocurrencies like Bitcoin and Ethereum.

Jul 10, 2025 at 01:28 pm

What is Kraken and Why Link a Bank Account?

Kraken is a cryptocurrency exchange platform that allows users to buy, sell, and trade digital assets such as Bitcoin, Ethereum, and other altcoins. One of the essential steps for new users is linking a bank account to enable fiat currency deposits and withdrawals. This integration ensures seamless transactions between traditional banking systems and cryptocurrency trading. Before proceeding, users should ensure they have a verified Kraken account and the necessary banking information ready.

Preparing Your Bank Information

Before initiating the linking process, gather all required banking details, including:

• Bank name
• Routing number
• Account number
• Account type (checking or savings)

Ensure that the name on your Kraken account matches the name associated with your bank account. Some banks may require additional verification steps, so it’s crucial to confirm this before proceeding. Also, make sure your bank supports ACH transfers or wire transfers, which are commonly used methods for funding a Kraken account.

Navigating to the Funding Section in Kraken

To begin the linking process, log into your Kraken account and locate the “Funding” section. This is typically found in the main dashboard or under the “Wallets” tab. Click on “Deposit” and select your preferred fiat currency, usually USD unless otherwise specified. From there, choose the option to add a new bank account. The system will prompt you to enter your bank details, so be prepared with the routing number and account number.

Confirming Your Bank Account

Once the bank information has been entered, Kraken will initiate a verification process. This can occur in two ways: either through micro-deposits or instant verification via Plaid. If micro-deposits are selected, small amounts of money will be sent to your bank account, usually within 1–5 business days. You’ll need to log back into Kraken and input those amounts to confirm ownership. Alternatively, if available, use Plaid integration to instantly verify your bank account by logging into your online banking portal through a secure connection provided by Kraken.

Completing the Linking Process

After successful verification, your bank account will be linked to your Kraken profile. At this stage, you can proceed to deposit funds using ACH transfer or wire transfer options. Be mindful of any minimum deposit requirements or transaction fees associated with each method. ACH transfers are generally free but may take a few business days, while wire transfers are faster but come with a fee. Once funds are available, they can be used immediately for cryptocurrency trading on the platform.

Troubleshooting Common Issues

Occasionally, users may encounter issues when linking their bank accounts to Kraken. These problems can include incorrect routing numbers, mismatched names, or declined Plaid connections. Double-check all entered information to ensure accuracy. If verification fails multiple times, contact Kraken customer support with your bank confirmation details for further assistance. Some banks block third-party financial services from accessing account data, so reaching out to your bank directly might also resolve connectivity issues.

Frequently Asked Questions

Can I link multiple bank accounts to my Kraken profile?

Yes, Kraken allows users to link multiple bank accounts. Each must go through the verification process individually.

What should I do if my bank doesn’t support Plaid?

If your bank does not support Plaid, you can opt for the micro-deposit verification method instead.

Is it safe to link my bank account to Kraken?

Kraken uses industry-standard encryption and security protocols to protect user data. However, always ensure you’re using a secure internet connection and monitor your account regularly.

How long does bank verification take on Kraken?

Micro-deposit verification typically takes 1–5 business days, while Plaid-based verification is nearly instantaneous if supported by your bank.