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Author Topic: Kraken Deposit/Funding advice needed  (Read 1183 times)
very_452001
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June 08, 2017, 04:38:40 PM
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Hi,

I like to transfer money from UK £GBP bank account to Kraken GBP deposit option:

Account name Payward Japan K.K. Address 3-11-10 Higashi, Shibuya-ku, Tokyo Bank name Sumitomo Mitsui Banking Corporation (SMBC) Bank/Branch address 2-4-1 Hamamatsucho, Minato-ku, Tokyo 105-6101, Japan SWIFT SMBCJPJT Account number 6793010727


What I dont understand is the above bank is in Japan and before I transfer £GBP to the above account I like to know is the above Kraken japanese account really a £GBP account?

Also I thought Kraken is a european company so why they have a bank account in asia Japan? Will Kraken just charge me £10 fee for the deposit?

Finally which is the cheapest/best way to send GBP from UK bank account by swift without currency conversion needed to the above account. Which is the cheapest?
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very_452001
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June 09, 2017, 09:45:19 AM
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Bump any advice?
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June 09, 2017, 12:13:46 PM
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Kraken is based in San Fransico, at least the headquarter is there. Bank transfers in SEPA and SWIFT are not the same, so for exemple receiving a SWIFT transfer to a SEPA account would have a higher cost. Your bank too would charge you to receive a payment from a different standard. Kraken has to get different bank accounts to support both deposits method SEPA and SWIFT.  And yes as stated in their Help Page: GBP Bank Wire Deposit (£10) - outside US only. I may be blind today but checking the funding page I didn't see GPB option.
There is no conversion currency needed, if you send GPB, they receive GBP and you get credited GBP.
One thing you should consider is if you read comments here and there, there are a lot of people still waiting to get their deposit credited after several days, sometimes 2 weeks

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