Is it possible to transfer money from Kraken to Wise account ?

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Jerry1911

Entrepreneur
Does anyone know if it is possible to send money from Kraken to Wise ?
Yes, I did it successfully but only with small amounts (few hundred euros). Should be fine though as Kraken is doing business as Payward Ltd in the UK.

Btw I did the same with Revolut. Clear Junction SEPA to Revolut is near-instant and same goes for deposits from Revolut to Kraken. But they were also small amounts; first transaction was pending but got cleared (I'm talking about Revolut).

didn't give me any problems despite revolut being really harsh to crypto.

"As for crypto merchants, we currently support the following list: Xapo, crypto.com, MoonPay, Bitstamp, Kraken, Coinbase, Gemini, Bitpanda, Coinfloor, Binance, and we are reviewing this list on a regular basis."
 

JohnnyDoe

Mentor Group Gold
they can confirm it and if positive I can do.. if they reject (I don't think they will do) I will find another way.
Their confirmation is completely useless. Whatever they say they can and will contradict themselves the next day. Wise is the most untrustworthy emi.
 

CoinMaster

Mentor Group Gold
With another setup I asked them about their opinion of the business model 3 years ago, all they confirmed at this time is still valid.
 

Tr0nad0r

Active Member
Moving a couple of hundreds or thousands from time to time probably won't get you into trouble if they're happy to have you as a profitable customer (e.g you use your account regularly for other activities beyond withdrawing from exchanges or you do transfers involving currency conversion).

Using Wise for big withdrawals or regularly as a pass-through account to withdraw from an exchange and move to another bank account (e.g Kraken [SEPA] -> Wise [SEPA] -> EUR bank account) probably is going to raise some flags even if you don't violate the ToS. Wise won't be happy to take the risk of your transactions just to earn some cents, it's just common sense.
 

lostguy

Mentor Group Gold
if you keep amounts below 10K each time there are so far no problems. Have done a few hundred transactions like that. Wise also confirmed, there are no problem to receive funds from kraken.
 

JohnnyDoe

Mentor Group Gold
if you keep amounts below 10K each time there are so far no problems. Have done a few hundred transactions like that. Wise also confirmed, there are no problem to receive funds from kraken.
And you trust what they say? rof/%
At any time they can close your account stating that the reason is exactly that.
 

void

Entrepreneur
if you keep amounts below 10K each time there are so far no problems. Have done a few hundred transactions like that. Wise also confirmed, there are no problem to receive funds from kraken.
maybe possible but very unlikely, I wouldn't recommend this to anyone unless one is really desperate and doesn't care about the account being closed
 

CoinMaster

Mentor Group Gold
So what you guys are saying is, even though Wise has confirmed that I can make transfers from the kraken, they will close my account? They know my business, and I do not trade with crypto but receive it exclusively as payment for services that they are also familiar with. But you still think Wise can't be trusted?
 

bonox

Corporate Services
Silver Member
Mentor Group Gold
Business Angel
have done it a few times, they have not asked any questions!
 

lostguy

Mentor Group Gold
yeah so far I don't have any issues neither.
 
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