Kraken EUR SEPA to Transferwise

[PunishmentOfLuxury]

I have seen differing views on whether it's possible to withdraw EUR by SEPA transfer from Kraken to TW. Kraken's website indicates that it may be problematic, unless your TW account has a EUR IBAN that is unique to you (I believe mine does). Also it has been said on various forums that TW doesn't want to touch crypto-related fiat.

However, I emailed TW yesterday and was told that it is possible to withdraw from Kraken to TW, but deposits to Kraken are not possible yet, although they're "working on it".

Is this a genuine change of heart by TW or have I been misinformed by a lowly CSR?

Why not just try it, you say? I would, but for the horror stories I've read where the Kraken withdrawal has been rejected by TW, so they return it to source but Kraken don't know whose account to credit and it takes ages to sort out.

Does anyone have any recent experience, good or bad?

[karlos]

Transferwise explicitly state they do not allow transfers for cryptocurrency. (due to KYC)

https://transferwise.com/help/article/2534649/other/bitcoin

You risk having your account closed by attempting it, I'd say..

Edited November 6, 2018 by karlos

[PunishmentOfLuxury]

37 minutes ago, karlos said:

Transferwise explicitly state they do not allow transfers for cryptocurrency. (due to KYC)

https://transferwise.com/help/article/2534649/other/bitcoin

You risk having your account closed by attempting it, I'd say..

Yes, I read that article from 2013, but it directly contradicts the advice I got from TW yesterday. I have emailed them again for confirmation.

[karlos]

I’d say the CSR is just giving a generic response. Like you mentioned, not worth the hassle of a lost payment or having your account terminated.

[PunishmentOfLuxury]

7 hours ago, PunishmentOfLuxury said:

Yes, I read that article from 2013, but it directly contradicts the advice I got from TW yesterday. I have emailed them again for confirmation.

And their reply is (referring to the article @karlos linked to): "The article’s first line says payment to bitcoin are not allowed. Where as you can receive to your borderless from it." That was from a different CSR, but info is consistent with the first response.

[karlos]

3 minutes ago, PunishmentOfLuxury said:

And their reply is (referring to the article @karlos linked to): "The article’s first line says payment to bitcoin are not allowed. Where as you can receive to your borderless from it." That was from a different CSR, but info is consistent with the first response.

Interesting. Seems very inconsistent to allow payments to TW, but not from TW?

Edited November 6, 2018 by karlos

[PunishmentOfLuxury]

I made a small SEPA withdrawal from Kraken to my borderless EUR account at TW today. It all went smoothly and arrived in about 5 hours.

[PunishmentOfLuxury]

On 11/7/2018 at 7:26 PM, PunishmentOfLuxury said:

I made a small SEPA withdrawal from Kraken to my borderless EUR account at TW today. It all went smoothly and arrived in about 5 hours.

This route is no longer open. TW will not accept deposits from Kraken, since the former changed its bank.

You can now trade XRP/GBP on both Kraken and Bitstamp. Unfortunately volumes are tiny on Kraken; a lot better on Bitstamp, but still low in comparison with XRP/USD for example. I don't know if either exchange offers withdrawals to a UK bank account via Faster Payments.

[llinusLove]

On 6/13/2020 at 12:45 AM, PunishmentOfLuxury said:

This route is no longer open. TW will not accept deposits from Kraken, since the former changed its bank.

You can now trade XRP/GBP on both Kraken and Bitstamp. Unfortunately volumes are tiny on Kraken; a lot better on Bitstamp, but still low in comparison with XRP/USD for example. I don't know if either exchange offers withdrawals to a UK bank account via Faster Payments.

Hi, they dont allow kraken GBP to transferwise GBP neither? in TW documentation it explains i cant recieve EUR from Kraken,but it says nothing about GBP.
Thanks

[PunishmentOfLuxury]

On 8/16/2020 at 2:15 AM, llinusLove said:

Hi, they dont allow kraken GBP to transferwise GBP neither? in TW documentation it explains i cant recieve EUR from Kraken,but it says nothing about GBP.
Thanks

I only tried EUR, don't know about GBP.