Kraken Withdrawal Time

[Guest]

Hello

Has anyone on this forum experience with Fiat withdrawals on Kraken?

I made a SMBC Swift withdrawal in USD from Kraken to my bank in Switzerland. The status on Kraken says: success

I did the withdrawal on 21.12.17. Kraken says on their website it usually is between 1- 5 business days. Then I called my bank, and they cannot see any pending international deposit for my banking account. I am a little bit worried because it's not a small amount. But maybe it's normal that it does not work so fast? What are your experiences?

 

 

 

[EnchanterIO]

Withdrew several times from Kraken this year without any issue. Usually around 3-7 days. Just wait.

[cannylad]

24hours here in the UK 3 times in Nov/Dec

[cannylad]

just remembered I did one withdraw on a thursday, That didn't go through to my Bank till the Tuesday, could be just the Holiday period delaying yours, 

all the Best

[Guest]

Update: I received this E-Mail:

Quote

This message is regarding the schedule for fiat deposit and withdrawal processing around the New Year’s holiday.

Please note that for clients who use SMBC to fund their accounts, fiat deposits and withdrawals to and from your Kraken account will be impacted by the the New Year’s holiday as described below. We recommend that you plan your fiat funding activities accordingly. Cryptocurrency deposits and withdrawals will not be affected.

All dates/times mentioned below are Japan Standard Time (JST).

New Year’s holiday fiat deposits:

The deadline for receiving fiat deposits is Thursday, December 28th 2017 at 11:59PM (JST). Deposits not received by this time will not be received until after Thursday, January 4th. Please note that we cannot guarantee that deposits sent before this day will be received by the cut-off time.

New Year’s holiday fiat withdrawals:

The deadline for sending fiat withdrawals is no later than Thursday, December 28th 2017 at 3 PM (JST). Withdrawal requests made after this cutoff time will not be processed until January 4th.

Any deposits and withdrawals made after the above dates will not be processed until on or after January 4th, 2018. Also, please note that if there are issues with your deposits or withdrawals, such as missing reference codes or account name mismatches your funding request may be delayed until January 4th.

Finally, we are anticipating a surge in the number of deposit/withdrawal applications on January 4th, so please be aware that it may take slightly longer than usual for some funding applications to be processed.

Thank you for your understanding.

The Kraken Team

 

[Tull]

Under the heading of professionalism on Kraken's website it states: "We are dedicated to our product and your experience." I don't see evidence of that at all in my customer experience so far with Kraken.

I tried to withdraw money recently that I needed for end-of-year transactions for tax and other purposes. I had gone exactly by the book, supplying all the requested KYC documents, and become Tier 3 verified months before for that very reason. The following day the status of my withdrawal simply stated "failed" on the website. No e-mail to me or any other communication about it. I get more e-mail updates on a $10 Amazon order.

I reach out to support and 2 days go by with no answer. I then escalate the ticket and on the 6th day after the withdrawal failure I get a response that they'd like a new photo of my government ID - the one I had already supplied 6 months or so prior. I send a new photo exactly 21 minutes later. That was 4 days ago and counting. And yet again, no communication at all since. This is now going to wind up costing me quite a bit out-of-pocket in penalties/interest for the missed deadlines.

I now have very low confidence that Kraken is the place to cash any amount out to FIAT. They fail at basic customer service when people are placing their faith and trust in them to do what they promise.