Bitcoin Forum
May 08, 2024, 07:37:45 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Using Kraken to buy BTC with USD  (Read 851 times)
hous26 (OP)
Full Member
***
Offline Offline

Activity: 462
Merit: 115


View Profile
July 30, 2017, 02:31:51 AM
 #1

I'm hoping somebody with experience can help me.  I've verified my account to Tier 3 and can now fund my Kraken account with USD.  I added my bank account/routing number and entered an amount that I wanted to deposit.  The next screen gave me instructions of how to wire money to Kraken's bank account along with a reference number.  Generally when I pay for something or send money from my bank account I simply enter my bank account and routing number OR I go to my bank's website and send money to the recipient's bank account/routing number, not both.  If I want to fund my Kraken account, must I wire money to them or are they already withdrawing it?  The status of my deposit says pending and when I select the transaction ID it says its a wire transfer which makes it sound like I need to go to my bank account and wire money to Kraken through it.  If this is the case, why does Kraken need to know my bank account/routing number and specify the amount if I'm just going to wire it to their bank anyways? 
1715197065
Hero Member
*
Offline Offline

Posts: 1715197065

View Profile Personal Message (Offline)

Ignore
1715197065
Reply with quote  #2

1715197065
Report to moderator
1715197065
Hero Member
*
Offline Offline

Posts: 1715197065

View Profile Personal Message (Offline)

Ignore
1715197065
Reply with quote  #2

1715197065
Report to moderator
1715197065
Hero Member
*
Offline Offline

Posts: 1715197065

View Profile Personal Message (Offline)

Ignore
1715197065
Reply with quote  #2

1715197065
Report to moderator
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715197065
Hero Member
*
Offline Offline

Posts: 1715197065

View Profile Personal Message (Offline)

Ignore
1715197065
Reply with quote  #2

1715197065
Report to moderator
1715197065
Hero Member
*
Offline Offline

Posts: 1715197065

View Profile Personal Message (Offline)

Ignore
1715197065
Reply with quote  #2

1715197065
Report to moderator
cpfreeplz
Legendary
*
Offline Offline

Activity: 966
Merit: 1042


View Profile
July 30, 2017, 02:35:26 AM
 #2

When you contacted support what did they say? This is a very specific issue so I don't think you'll get the answer you're looking for here. Why do they want your account number? Probably for AML/KYC regulations.
GoodLuckChuck
Newbie
*
Offline Offline

Activity: 29
Merit: 0


View Profile
July 30, 2017, 07:37:50 AM
 #3

Anything to do with your states regulations? I know certain exchanges do not allow certain states to be able to purchase through them.
gribble
Hero Member
*****
Offline Offline

Activity: 966
Merit: 552



View Profile
July 30, 2017, 07:55:05 AM
 #4

I'm hoping somebody with experience can help me.  I've verified my account to Tier 3 and can now fund my Kraken account with USD.  I added my bank account/routing number and entered an amount that I wanted to deposit.  The next screen gave me instructions of how to wire money to Kraken's bank account along with a reference number.  Generally when I pay for something or send money from my bank account I simply enter my bank account and routing number OR I go to my bank's website and send money to the recipient's bank account/routing number, not both.  If I want to fund my Kraken account, must I wire money to them or are they already withdrawing it?  The status of my deposit says pending and when I select the transaction ID it says its a wire transfer which makes it sound like I need to go to my bank account and wire money to Kraken through it.  If this is the case, why does Kraken need to know my bank account/routing number and specify the amount if I'm just going to wire it to their bank anyways? 
Well i think you just gives the informations that be asked by Kraken, and the deposit of USD will be added on your account on Kraken. They need more about your information to anticipate money laundering use Kraken, but if you want buy bitcoins anonymous without show your identity, you can try to buy bitcoins on exchange currency on bitcointalk of course you must use escrow for safety.
maydna
Hero Member
*****
Offline Offline

Activity: 2926
Merit: 556


View Profile
July 30, 2017, 08:25:21 AM
 #5

I'm hoping somebody with experience can help me.  I've verified my account to Tier 3 and can now fund my Kraken account with USD.  I added my bank account/routing number and entered an amount that I wanted to deposit.  The next screen gave me instructions of how to wire money to Kraken's bank account along with a reference number.  Generally when I pay for something or send money from my bank account I simply enter my bank account and routing number OR I go to my bank's website and send money to the recipient's bank account/routing number, not both.  If I want to fund my Kraken account, must I wire money to them or are they already withdrawing it?  The status of my deposit says pending and when I select the transaction ID it says its a wire transfer which makes it sound like I need to go to my bank account and wire money to Kraken through it.  If this is the case, why does Kraken need to know my bank account/routing number and specify the amount if I'm just going to wire it to their bank anyways? 

i think need to know your bank account/routing number so they can identify that number is really you. i think in the other site which need us to give personal identification, it needs bank account to process the transaction. i think what you do is right and maybe you can contact kraken team support system and explain your problem and see what answer they will give to you.
CoinSpeculator
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250



View Profile
July 30, 2017, 08:42:13 AM
 #6

must I wire money to them or are they already withdrawing it?
no. you must wire your money to them. they can't withdraw anything from your bank.
hous26 (OP)
Full Member
***
Offline Offline

Activity: 462
Merit: 115


View Profile
July 30, 2017, 01:56:02 PM
 #7

must I wire money to them or are they already withdrawing it?
no. you must wire your money to them. they can't withdraw anything from your bank.

Thanks guys.  Very helpful posts.  I decided not to use Kraken because my bank would have charged a $25 wire fee and Kraken another $5.  Using a credit card on Coinbase had less fees and I got some points to offset some of the fees.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!