Beginner’s Guide: How to Withdraw Money from Kraken

As a new Kraken user, there might come a moment when you need quick access to your funds and start asking how to withdraw money from Kraken in the fastest and safest way possible. Maybe you just closed a trade or even need to move funds into your bank account before a deadline.

In situations like these, timing matters. That’s when addressing the "How long does it take to withdraw money from Kraken?" question becomes just as important as choosing the right withdrawal method. Some paths are quicker but may be more expensive, while others take longer and are better suited for larger transfers.

So, before jumping into the process, take a moment to explore the different withdrawal options. The sections ahead will walk you through each method available, highlight key details, and help you pick the most efficient path.

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How to Withdraw Money from Kraken

Here’s the step-by-step guide on how to withdraw money from Kraken across its different interfaces:

Kraken Web (Kraken.com)

Let’s begin with the Kraken web interface, which is the most direct way to manage fiat withdrawals on a desktop. If you're trying to figure out how to withdraw money from Kraken to bank account, this method gives you full access to all withdrawal settings in one place.

After signing in, click on [Transfer] from the left-hand menu, then select the [Withdraw] button.

You’ll see a default currency displayed at the top. To choose a different one, click the [Asset] dropdown, then use the search bar to find the currency you want to withdraw. Picking the correct asset here helps direct your withdrawal through the appropriate channel.

Under the [Method] dropdown, select a cash withdrawal option that fits your region or bank setup.

Click [Continue] and enter the details of the bank account where you want your money sent.

Every field here must be completed accurately. Kraken does not process withdrawals to unverified or mismatched accounts.

Before you proceed, here’s what each field means:

• Account Nickname: A label to help you identify this bank account later.
• Name on Account: Must match the verified name or business entity registered on Kraken. In some cases, this may auto-fill.

After you’ve entered everything, hit [Add bank account] to save the information.

After saving your bank account, scroll down to finalize your withdrawal.

Here's what to do:

• Select your saved bank account from the dropdown;
• Enter the withdrawal amount;
• Click the [Review Withdrawal] button;
• Double-check all details;
• Confirm by clicking [Withdraw];
• Make sure you’ve reviewed the transaction carefully before submitting.

Once the request is submitted, the processing time varies depending on your chosen method and region. Before moving on, take note of any limits or minimums tied to your chosen method, as some bank transfers may require a minimum withdrawal amount.

Kraken Classic

Kraken Classic is the older interface of the exchange, designed with a more traditional layout. Despite the visual differences, the core features remain the same, including the ability to withdraw funds directly to your bank.

So here’s how to withdraw money from Kraken using the Classic interface:

Log in, then navigate to the top menu and click the Funding tab. This will open your account’s deposit and withdrawal dashboard.

Select the [Withdraw] button near the top of the page. Use the search bar to find the currency you want to cash out.

Choosing the correct currency here ensures you’re routing the withdrawal through a supported method.

After selecting your currency, you may be prompted to choose a Funding Provider from a dropdown list.

If only one option appears, you can skip to the next step. If you see multiple providers or need to withdraw using Etana Custody, follow the instructions linked on-screen (I’ll go over the Etana Custody process in more detail shortly).

You’ll now need to link your bank account to Kraken Classic.

Here’s what to expect during this step:

• Click the [Continue] button. Enter your full bank account details. All fields must be completed;
• Create a unique description to help identify this account in the future;
• Make sure the [Name on Account] field matches the verified name or business entity on your Kraken profile;
• Some funding providers will automatically fill in the name field. If you see an incorrect name or need to update it, Kraken’s support team can help through a request form.

After adding the bank account, it will be saved for future withdrawals.

Repeat the first three steps to return to the currency withdrawal page. Then follow these actions:

• Scroll down and select your saved bank account from the dropdown menu;
• Enter the amount you want to withdraw;
• Click [Review Withdrawal] to check all details;
• Confirm the withdrawal by selecting the [Withdraw] button.

Once everything is submitted, you should receive a confirmation and be able to track the withdrawal in your funding history.

📚 Read More: Kraken Review

Kraken Pro

Let’s continue by walking through how to withdraw money from Kraken using Kraken Pro, the platform’s advanced trading interface. While Kraken Pro is designed primarily for experienced traders, the withdrawal process is still beginner-friendly once you know where to look.

Kraken Pro features include sophisticated charting tools, multiple order types, and access to margin or futures trading. Despite these extras, withdrawing funds works in a similar way to Kraken Web, with a few minor layout differences.

Start by logging into your Kraken Pro account, then navigate to the Portfolio tab located on the left-hand menu.

Hit the [Withdraw] button, then use the search bar to locate the currency you want to move. This ensures you’re accessing the correct withdrawal options for that specific asset.

A drop-down menu will display the available withdrawal methods. Some users may only see one method depending on the selected currency or region. If that’s the case, move on to the next step.

You’ll need to connect a bank account before proceeding. Click [Continue] to begin.

Now fill in your bank details in the provided fields. All fields are required, so make sure every entry is accurate, then click [Add withdrawal account].

Return to the Portfolio tab and repeat the earlier steps: click [Withdraw], search for your asset, and choose the same withdrawal method you just linked. Scroll to the bottom of the page and select your saved bank account from the dropdown list.

Enter the amount you want to withdraw. Do not include punctuation marks or currency symbols.

Click [Review Withdrawal] and double-check the transaction details. If everything looks correct, hit [Confirm] to submit your request.

Kraken Mobile App

If you're using the Kraken mobile app, the withdrawal process follows a slightly different layout but leads to the same result. Here’s how to withdraw money from Kraken app using your phone:

Launch the Kraken mobile app and navigate to your Portfolio tab. Tap the currency you want to withdraw from your available balances.

On the currency details page, tap the [Withdraw] button to begin the withdrawal process.

Depending on the asset, multiple payment networks might be available. Select the one that matches your preferred withdrawal method.

Input the amount you want to withdraw. Double-check the figure before continuing to the next step.

In the Withdraw To section, you’ll need to choose a bank account. If you haven’t connected one yet, tap [Enter a new bank account]. Then select your preferred funding method and follow the prompts.

Here’s what you’ll need to provide when adding a new account:

• Select your preferred funding method;
• Add a unique description to identify the account;
• Fill in the required bank account fields as instructed.

When all the information is complete, your new account will be saved for future use.

Tap the [Review] button to check all the details, then confirm the withdrawal request.

Done! You’ll get a confirmation once the request is submitted, and your funds will be on their way.

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Etana Custody

Another way to withdraw funds from Kraken is by using Etana Custody. This method works slightly differently compared to a direct withdrawal, but it can be useful if you're dealing with multiple currencies or want more control over foreign exchange (forex or FX) conversions.

Etana Custody is a third-party custodial service that supports seven major fiat currencies: USD, EUR, CAD, GBP, AUD, CHF, and JPY. It creates a bridge between your Kraken account and your bank account through an intermediary wallet.

So, when exploring how to withdraw money from Kraken to a bank account, this path gives you an additional layer of flexibility.

There are two parts to the Etana Custody withdrawal process:

To begin, make sure your Etana Custody account is fully verified through their Know Your Customer (KYC) process.

Then, follow these steps on Kraken:

Once the transfer is complete, your money will be available in your Etana wallet.

After the funds are in your Etana wallet, the second step transfers them to your bank account.

Completing both steps gives you full access to your funds in fiat, routed through Etana’s secure custody layer. If you plan to store your crypto long-term after withdrawal, Ledger Flex offers an extra layer of offline protection.

What’s the Best Way to Withdraw Money from Kraken?

The “best” withdrawal method depends on what you’re optimizing for, such as speed, simplicity, cost, or control.

The most important factor to consider is regulatory compliance and security. All Kraken withdrawal methods support two-factor authentication (2FA) and robust account protection. However, you should still consider matching your method to your risk tolerance.

Processing speed is another key factor. Some methods are near-instant once approved, while others might take a few days due to banking networks or verification steps. Consider your timing expectations before initiating a withdrawal.

You’ll also want to think about how well each method aligns with your local banking infrastructure. Some regions support SEPA or Fedwire transfers directly, while others rely on SWIFT, which affects both the cost and settlement time.^[1]

Here’s a breakdown to help you decide:

Table: A comparison of Kraken withdrawal options

In terms of fiat support, the examples below don’t cover every available option but give a clear sense of how currency choice affects availability, cost, and processing:

Table: Kraken fiat withdrawal details by currency

All in all, the best way to withdraw money from Kraken will ultimately depend on your comfort with the platform, your currency of choice, and how urgently you need access to the funds. Take a moment to weigh the options above based on your needs.

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Key Considerations When Withdrawing Funds from Kraken

By now, you’ve figured out how to withdraw money from Kraken using your preferred method. However, some methods consume more of your total than others, and certain habits can quietly accumulate fees over time. So, if you're trying to stay efficient, smart planning always beats rushing.

Here’s what to keep in mind when withdrawing from Kraken:

• Currency choice. Some currencies come with higher network or wire fees than others. If you’re working with multiple options, picking a lower-fee currency like EUR or GBP can make a serious difference.
• Withdrawal method. Using local rails, such as SEPA, is typically more cost-effective than relying on global networks like SWIFT. So if you're in Europe, SEPA should be your first move. In other regions, check if Kraken supports local bank integrations.

• Consolidation. Sending funds out in small chunks may feel convenient, but each transaction incurs its own fee. Grouping larger amounts together, within reason, helps prevent unnecessary charges.
• Stablecoin VS fiat. Sometimes, off-ramping stablecoins like USDT or USDC to another platform and then converting them to fiat elsewhere can save more than doing it directly on Kraken. It all comes down to fees, spreads, and real-time exchange rates.
• Bank compatibility. Your bank’s location, currency, and relationship with global networks can all influence the final fee. Some banks charge an additional fee for incoming international wire transfers. Therefore, use a bank that aligns with your withdrawal method and currency to cut hidden costs.

Bottom line, use these insights as a quick checklist whenever you're preparing for a withdrawal, especially when dealing with different currencies or networks.

What Can Go Wrong When Withdrawing from Kraken?

Even when you follow the correct steps, a few things can still cause friction during a withdrawal. Most of these are preventable, but they can cause delays, added stress, or blocked transactions if overlooked.

Here are the most common issues users encounter when withdrawing funds from Kraken:

• Withdrawal to the Wrong Bank or Wallet Address. Kraken only allows withdrawals to accounts that you’ve pre-approved, but errors can still happen. Copying the wrong wallet address or selecting the wrong bank account label may cause the transfer to fail or get routed to the wrong destination. Always double-check before hitting confirm.
• Name Mismatch Between Kraken and Your Bank Account. If the name on your Kraken account does not exactly match the name on your bank account, your withdrawal might get rejected. It's especially important during your first few transfers or after a name change. Reach out to support if you need to update your account details.
• Regional Restrictions or Unsupported Institutions. Some banks reject crypto-linked wires, and others may block transfers coming from exchanges. SWIFT-based withdrawals and Etana Custody transfers may be subject to additional restrictions depending on the country. Always verify that your institution accepts Kraken-related transactions.

• Delays in Processing Times. The time it takes to withdraw money from Kraken depends on the currency, method, and receiving bank. In most cases, processing begins within minutes to a few hours, but settlement on the bank’s side may take longer (especially on weekends or public holidays). If your funds have not arrived after the expected timeframe, contact support with the transaction reference ID.
• Attempting to Withdraw to a Third-Party Payment Processor. Kraken does not support sending funds to companies that handle payments on behalf of other businesses. These include merchant services, intermediary processors, or apps that pool user deposits. Always withdraw directly to your personal bank account or wallet.
• Fraud Alerts or Account Freezes. Large withdrawals, repeated transfers, or high-frequency requests can trigger fraud detection systems.^[2] These alerts can temporarily freeze your account or delay withdrawals until manual review is complete. To reduce the chances of a temporary freeze, consider initiating smaller test withdrawals before sending larger amounts.

When asking "how long does it take to withdraw money from Kraken?", those factors often influence the outcome. Knowing what’s within your control helps cut down on confusion when delays occur.

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Conclusions

Learning how to withdraw money from Kraken means understanding more than just the basics. You’ve got different currencies to consider, variable timelines depending on your method, and a few potential blockers if your personal info doesn’t match up.

After testing a small withdrawal and selecting a method that suits your location, the rest will start to fall into place. The key is staying aware of fees, timing, and any changes in your banking setup.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Owolabi, O. S., Hinneh, E., Uche, P. C., Adeniken, N. T., Ohaegbulem, J. A., Attakorah, S., Emi-Johnson, O. G., Belolisa, C. S., Nwariaku, H.: ‘Blockchain-Based System for Secure and Efficient Cross-Border Remittances: A Potential Alternative to SWIFT’;

2. Wu, C., Chen, J., Zhao, Z. He, K., Xu, G., Wu, Y., Wang, H., Li, H., Liu, Y., Xiang, Y.: ‘TokenScout: Early Detection of Ethereum Scam Tokens via Temporal Graph Learning’.