To withdraw money from Kraken, you sell any crypto you want to cash out, navigate to the withdrawal section of your account, choose a banking method, and send the funds to your linked bank account. The entire process takes just a few minutes on your end, though the money may take anywhere from a few seconds to five business days to arrive depending on which transfer method you pick. Here’s how it works step by step, what it costs, and what can slow things down.
Sell Your Crypto First (If Needed)
If your balance is already in a fiat currency like USD or EUR, skip this step. If your funds are still in Bitcoin, Ethereum, or another cryptocurrency, you need to sell it on Kraken before you can withdraw cash to a bank account. Go to the trade or convert screen, select the crypto you want to sell, choose your local currency as the pair, and execute the trade. The cash balance will appear in your account almost immediately.
You can also withdraw cryptocurrency directly to an external wallet instead of converting to cash. That process skips the banking step entirely. You just need to add a destination wallet address, confirm it, and send.
How to Withdraw Cash to Your Bank
Once you have a fiat balance, follow these steps:
- Open the Funding page. On the web, click “Funding” in the top menu, then select “Withdraw.” On the mobile app, tap the transfer or withdraw option from your portfolio screen.
- Select your currency. Choose USD, EUR, GBP, CAD, or whichever currency matches your balance.
- Pick a withdrawal method. Kraken will show you the available options for your country and currency. Each method lists its fee, minimum, and estimated processing time.
- Enter the amount and confirm. Type the amount you want to withdraw, review the details, and submit. If you have two-factor authentication enabled, you’ll need to confirm with your authenticator app.
If this is your first withdrawal to a particular bank account, Kraken may ask you to verify the destination through a confirmation email. That email link expires after one hour, so confirm it promptly.
USD Withdrawal Options and Fees
U.S. residents have several choices, ranging from free to near-instant:
- ACH: Free, with a minimum of just $1. Funds arrive in zero to two business days, with a daily cutoff at 2:00 p.m. Eastern. This is the cheapest option for most people.
- FedWire: Costs $4 per transfer with a $20 minimum. Funds typically arrive within one business day, making it a good choice when you need the money faster than ACH allows.
- RTP (Real-Time Payments): Near-instant delivery for a fee of 1.5% of the withdrawal amount, capped at $50. The minimum is $20. Best for urgent, smaller transfers where speed matters more than cost.
- SWIFT: Available for international transfers. The minimum is $100 and the fee is $13. Processing takes one to five business days.
For most routine withdrawals, ACH is the obvious pick. You pay nothing, and the money lands in your bank account within a couple of days.
EUR, GBP, and Other Currency Options
European users withdrawing euros can use SEPA transfers for just 1 EUR, with a minimum of 2 EUR. Standard SEPA takes up to five business days, but Instant SEPA delivers funds in seconds for the same 1 EUR fee (or 0.90 EUR through one provider). For larger international transfers, SWIFT costs 5 EUR with a 100 EUR minimum.
UK users can withdraw pounds via Faster Payments (FPS) for 1.95 GBP, with near-instant delivery and a 5 GBP minimum. SWIFT is also available at 13 GBP per transfer for international routing.
Canadian users have EFT (0.35% fee, two to five business days), Interac e-Transfer (10 CAD, same-day or instant), and SWIFT (13 CAD). Australian users get both standard bank transfers and Osko for free, with Osko delivering funds near-instantly.
Verification Limits
Your account verification level determines how much you can withdraw. A standard verified Kraken account allows less than $100,000 per month in combined deposits and withdrawals. If you need to move more than that, you can apply for higher limits by providing additional identity documentation. There is no published daily cap, but the monthly threshold is the main constraint for most users.
Withdrawal Holds That Can Delay You
Kraken places temporary holds on withdrawals in several situations, and these catch people off guard more than anything else in the process.
If you funded your account through ACH via Plaid, your funds are subject to a seven-day hold. That hold applies to both cash and any crypto you bought with those funds, up to the deposited amount. So if you deposited $2,000 via ACH on Monday, you won’t be able to withdraw that $2,000 (or its equivalent in crypto) until the following Monday.
Debit card, credit card, Apple Pay, and Google Pay purchases trigger a 72-hour hold on your first transaction with each payment method. If you add a new card to Apple Pay, the first purchase with that new card restarts the 72-hour clock even if you’ve used a different card before. PayPal deposits are stricter: every PayPal purchase triggers a 72-hour hold, not just the first one.
Changing your password also locks withdrawals to new addresses for 24 hours. This is a security measure to protect you if someone gains access to your account and changes credentials.
Withdrawing Cryptocurrency to a Wallet
If you want to send crypto to your own wallet or another exchange instead of cashing out, the process is slightly different. Go to the Funding page, choose the cryptocurrency you want to withdraw, and enter the destination wallet address. If you’re sending to that address for the first time, Kraken requires you to add and confirm it.
When you add a new withdrawal address from a device Kraken recognizes as trusted, approval is automatic. From an unrecognized device, you’ll need to click a verification link sent to your email. That link expires after one hour. Each cryptocurrency has its own network fee, which varies based on blockchain congestion at the time of your withdrawal.
Security Features Worth Enabling
Before you start moving money, take a few minutes to tighten your account security. Enable two-factor authentication for withdrawals using an authenticator app. This adds a confirmation step every time you send funds, which protects you if your login credentials are ever compromised.
If you don’t have sign-in 2FA or a Master Key enabled and you change your password, Kraken automatically holds withdrawals to new addresses for 24 hours. Setting up these features in advance avoids that delay and gives you an extra layer of protection. You can also use Kraken’s address whitelisting to restrict withdrawals to pre-approved wallet addresses only, preventing unauthorized transfers even if someone accesses your account.