Kraken SEPA Withdrawls Failing

[johnbefree]

Hello,

Is anybody else having trouble with SEPA withdrawals from Kraken?

I've tried twice, and each time it has 'failed' with no other explanation. I've asked support twice on 25th and 26th to explain what might have gone wrong and had no reply. I've checked my spam folder.

- Value was about 500EUR both times.
- I have verified level 2.
- My account is based in the UK (and thus within SEPA realm), and in GBP. But my bank (Santander) will convert that for me into GBP and charge a small fee for the privilege.
- The details I'm using are the same as those given to Bitstamp, and I've received the funds from their withdrawal successfully today.
- I double-checked the account number etc etc.

Any help appreciated! Thanks.

[Minecache]

Kraken recently came out of beta so perhaps it's a bug. I think you can report them here... https://www.kraken.com/security/bug-bounty

[Tas]

Hello,

Is anybody else having trouble with SEPA withdrawals from Kraken?

I've tried twice, and each time it has 'failed' with no other explanation. I've asked support twice on 25th and 26th to explain what might have gone wrong and had no reply. I've checked my spam folder.

- Value was about 500EUR both times.
- I have verified level 2.
- My account is based in the UK (and thus within SEPA realm), and in GBP. But my bank (Santander) will convert that for me into GBP and charge a small fee for the privilege.
- The details I'm using are the same as those given to Bitstamp, and I've received the funds from their withdrawal successfully today.
- I double-checked the account number etc etc.

Any help appreciated! Thanks.

Similar experience here too. In my case, I cannot add the details of my bank. A "Bad Data" error message is returned. I have sent two emails to support that have gone unanswered. Also, my Tier 3 verification is stuck on "Processing" for several days now.

The thing that annoys me the most is that they don't answer the emails. I was a Bitstamp user for a long time, but became disappointed recently with their poor customer service and communication. I started using Kraken partly for that reason, but I'm met with the same sort of poor service and communication here too. I'm sort of hoping that this related to the Thanksgiving holiday in the US. But, still, make some announcement somewhere stating "Because of Thanksgiving here in the US, all customer requests will be handled next week." I really REALLY like Kraken, but they need to communicate with their customers.

[joerama]

Having withdrawing trouble, its told me it has been succsessful withdrawing 0.4BTC but its not in my wallet, then i sent 0.01 with the same details and that has turned up.

Dont understand why the small withdrawal worked and the 0.4 would not work but says it was a success?

Do you think were being scammed? on blockchain.info it says it was successful so why is it not there?

I think i might move site due to this dissapointment, i was really enjoying kraken, there customer service is bad!

[tonyk2005]

I have experienced both the problems reported here within the past 24 hours.
Firstly I tried to withdraw 500EUR to my Santander UK bank account but it failed.
I figured maybe Santander UK just doesnt do SEPA properly and handily I have another bank account in France which should certainly work.  Unfortunately I cant even add this second account to Kraken as it just keeps giving me a 'Bad Data' response whenever I try.

Im guessing this may all have something to do with the huge surge in popularity and use that Kraken have experienced in the last week, and it's understandable that bugs will appear in the system when it is this heavily used.  I have opened a ticket and am waiting to hear back, if I do I will let this thread know.  I will also post this to the main Kraken thread as a couple of you here are probably in newbie-jail.  One of their team seems to post over fairly often there so maybe he can help.

Other thread: https://bitcointalk.org/index.php?topic=290799.520

[Omega Xi]

I've was on the phone to Santander  fairly recently to confirm they accept SEPA transfers before making a withdrawal.  It turns out they don't which is why I now bank with HSBC, this could be why your transactions are failing ^^;

[tonyk2005]

Ah, thanks for that Omega,  I thought all UK banks had been forced to sign up to it but I did suspect that this might be an issue.  Have you withdrawn successfully from Kraken to HSBC or was it a different exchange?

[Omega Xi]

Ah, thanks for that Omega,  I thought all UK banks had been forced to sign up to it but I did suspect that this might be an issue.  Have you withdrawn successfully from Kraken to HSBC or was it a different exchange?

It's not the easiest subject to find information on, most bank staff I've talked to haven't been aware of SEPA at all.  Even at HSBC when I asked the branch staff about it, they had to look it up on their website ^^; Sadly I've also had issues with a SEPA transfer but they are of a slightly different nature, for me the status of the withdrawal is 'Success' however the money isn't in my bank account yet.  It's only been 3 days though and I think they're very swamped with support tickets at the moment so I'm not sure if something's gone wrong or if I just need to wait a little longer.

[Dargo]

I'm looking into this to see what we can do to resolve the problem. I'm sorry about support being unresponsive, but we're just snowed under with tickets right now. We aim to set ourselves apart among exchanges for good customer service, but that project has run off the rails for the near future due to the high volume of new accounts. But we will get back on track with that as soon as we can. The Thanksgiving holiday in the states hasn't exactly helped matters, but I'm not sure it had a large impact.

[tonyk2005]

Thanks for replying Dargo. We totally understand that you guys are swamped at the moment. I'm sure the craziness will die down in a week or two and hopefully you'll be back on track. 

[Dargo]

OK, I found out that the most likely reason that SEPA withdrawals fail is that the BIC is wrong or doesn't match the IBAN. So check with your bank to make sure you've got the right BIC and IBAN. And, as noted above, make sure your bank does SEPA in the first place. More generally, you might find out from your bank what they expect to see in an incoming wire, sepa or non-sepa, and let us know if we don't have your bank requirements covered. We're finding in particular that the UK is different from the rest of Europe in certain ways, so it may be that our forms aren't quite right for the UK.

I haven't been able to reproduce the 'bad data' message and still waiting to get some insight on what this means.

[tonyk2005]

I have discovered some slightly unusual behaviour with the 'Add bank account' form which may have something to do with the 'Bad data' message.  Upon entering my local branch address along with my personal IBAN and BIC codes (as given on a bank statement) I get the bad data message.  However, once I looked up and used the address which is registered to the actual BIC (a more central branch of the bank) this caused the form to be accepted.

Does the system do some sort of look-up on the BIC code and match it to the address given?  If so this may be the cause of the error.  Also, will the fact that I used the central branch address and not my own local branch cause any problems with the withdrawal itself?

[Tas]

I have discovered some slightly unusual behaviour with the 'Add bank account' form which may have something to do with the 'Bad data' message.  Upon entering my local branch address along with my personal IBAN and BIC codes (as given on a bank statement) I get the bad data message.  However, once I looked up and used the address which is registered to the actual BIC (a more central branch of the bank) this caused the form to be accepted.

Does the system do some sort of look-up on the BIC code and match it to the address given?  If so this may be the cause of the error.  Also, will the fact that I used the central branch address and not my own local branch cause any problems with the withdrawal itself?

Thanks. This seems to have worked for me. I used the central branch address too and the system accepted it. Although, in my case, I also used Latin characters this time around instead of Greek characters (the bank is Greek). I initiated a withdrawal, I hope it goes well.

And thanks to Dargo for keeping us posted. I think there needs to be some official channel of communication (this thread is pretty random). Perhaps a regularly updated blog or facebook or twitter feed.

[Dargo]

I have discovered some slightly unusual behaviour with the 'Add bank account' form which may have something to do with the 'Bad data' message.  Upon entering my local branch address along with my personal IBAN and BIC codes (as given on a bank statement) I get the bad data message.  However, once I looked up and used the address which is registered to the actual BIC (a more central branch of the bank) this caused the form to be accepted.

Does the system do some sort of look-up on the BIC code and match it to the address given?  If so this may be the cause of the error.  Also, will the fact that I used the central branch address and not my own local branch cause any problems with the withdrawal itself?

Thanks. This seems to have worked for me. I used the central branch address too and the system accepted it. Although, in my case, I also used Latin characters this time around instead of Greek characters (the bank is Greek). I initiated a withdrawal, I hope it goes well.

And thanks to Dargo for keeping us posted. I think there needs to be some official channel of communication (this thread is pretty random). Perhaps a regularly updated blog or facebook or twitter feed.

Agreed - we were just talking today about the need for something like this.

Thanks for the info about using the central bank address. So far as I know that shouldn't cause an issue with the withdrawal.

Edit: It just occurred to me - if you are using an 8 character BIC, or an 11 character BIC with "XXX" at the end, the convention is that this indicates the primary office, so it would make sense to use the address of the primary office. I'm not sure this is really the issue, but it fits with what you have found (assuming you are using a BIC like this). 

http://www.theswiftcodes.com/

[rvdb1984]

Hello,

Is anybody else having trouble with SEPA withdrawals from Kraken?

I've tried twice, and each time it has 'failed' with no other explanation. I've asked support twice on 25th and 26th to explain what might have gone wrong and had no reply. I've checked my spam folder.

- Value was about 500EUR both times.
- I have verified level 2.
- My account is based in the UK (and thus within SEPA realm), and in GBP. But my bank (Santander) will convert that for me into GBP and charge a small fee for the privilege.
- The details I'm using are the same as those given to Bitstamp, and I've received the funds from their withdrawal successfully today.
- I double-checked the account number etc etc.

Any help appreciated! Thanks.

I believe that SEPA (EUR/USD) deposits and withdrawals are only possible if you have level 3 or more. With level 2 you can only do cryptocurrency withdrawals and deposits. Further, GBP is not supported yet, so you might change your transferred currency in USD or EUR before transferring.

[Dargo]

Hello,

Is anybody else having trouble with SEPA withdrawals from Kraken?

I've tried twice, and each time it has 'failed' with no other explanation. I've asked support twice on 25th and 26th to explain what might have gone wrong and had no reply. I've checked my spam folder.

- Value was about 500EUR both times.
- I have verified level 2.
- My account is based in the UK (and thus within SEPA realm), and in GBP. But my bank (Santander) will convert that for me into GBP and charge a small fee for the privilege.
- The details I'm using are the same as those given to Bitstamp, and I've received the funds from their withdrawal successfully today.
- I double-checked the account number etc etc.

Any help appreciated! Thanks.

I believe that SEPA (EUR/USD) deposits and withdrawals are only possible if you have level 3 or more. With level 2 you can only do cryptocurrency withdrawals and deposits. Further, GBP is not supported yet, so you might change your transferred currency in USD or EUR before transferring.

Bank deposits and withdrawals are available at tier 2. Tier 1 is for digital currency only. You can't even see the bank withdrawal forms if you are at tier 1. It's true that we don't support GBP yet, and it's best to convert to EUR before you deposit. You can actually deposit GBP, but you'll be converted to EUR automatically and the exchange rate may not be great.

[Dargo]

Feel free to PM me with your support ticket numbers if you've written support about these issues and not heard back yet.

[Tas]

Edit: It just occurred to me - if you are using an 8 character BIC, or an 11 character BIC with "XXX" at the end, the convention is that this indicates the primary office, so it would make sense to use the address of the primary office.

Yes, it' an 8-character BIC.

[ph13]

I have had the same problem with SEPA transfer failure on two occations in November and then again yesterday. I'm verified to tier 3 and are tranfering in EUR to a Danish account which I know for certain will accept SEPA deposits in EUR. I have tried both with 8 and 11 character BIC, but all attempts have resulted in "Failure" within 2-24 hrs. Kraken support have been very unresponsive and after a week a got an answer saying they were not sure why my transfers were failing and would get back to me with more information, which never happened.

Until this issue is resolved I can't recommend using Kraken if you want to be able to transfer your money back to your ordinary bank.

I would like to know if anybody has been able to withdraw EUR with SEPA from Kraken?