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Author Topic: Revolut SEPA transfer to Kraken possible?  (Read 918 times)
jackhulk
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November 01, 2017, 10:56:03 AM
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Hello

Today I made a transfer via SEPA from Revolut to Kraken, but only a short time after I read via some old posts saying that there have been issues with such deposits as Kraken blocks them. Is this still the case please? Has any one successfully transferred from Revolut to Kraken within last month?

Thank you
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gentlemand
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November 01, 2017, 11:09:08 AM
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You'll get different answers from different people. Kraken themselves have said they won't accept them though I'm not sure how old this is - https://support.kraken.com/hc/en-us/articles/115006785528-Deposit-information-regarding-third-party-payment-processors-e-g-Revolut-The-Currency-Cloud-Transferwise-etc-?mobile_site=true

This is a relevant thread - https://www.reddit.com/r/BitcoinUK/comments/753726/transferring_uk_bank_revolut_gdaxkraken_safe/

One person in there added an extra middle man.


jackhulk
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November 01, 2017, 11:22:25 AM
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Thank you! That gives me hope as at least it work for one person! There was an issue a few months back where Revolut was using Lithuanian IBAN numbers, and for whatever reason this was causing an issue, however they have now changed to using United Kingdom IBAN format.

Another issue that may catch people out and why deposits are not arriving to Kraken successfully is that it's all to easy to miss adding the reference number when sending the payment. I think peoples experience will differ depending on the screen size of the device they are using, but the 'Add reference' option was completely hidden behind the 'Send' button for me and I had to scroll down for it to come into view.
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November 01, 2017, 12:42:38 PM
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I am surprised if they are accepting deposits from Revolut. Knowing how Kraken is very strict from which banks deposits are made and not accepting deposits from some (traditional) banks, I would not be surprised if they stop deposits from Revolut in some months. Especially if they face frauds at a high rate.

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November 01, 2017, 09:32:39 PM
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I'm pleased to confirm it worked, and took just over 2 hours to arrive from Revolut to Kraken.
deep_thought
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January 23, 2018, 10:50:47 AM
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I am surprised if they are accepting deposits from Revolut. Knowing how Kraken is very strict from which banks deposits are made and not accepting deposits from some (traditional) banks, I would not be surprised if they stop deposits from Revolut in some months. Especially if they face frauds at a high rate.

You shouldn't be surprised at all.
I cant understand why the sepa transfers wouldn't work from revolut to kraken.
Continuing to block the money flow, would be a joke.
There are KYC for both kraken and revolut, so frauds are limited if not eliminated.
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January 26, 2018, 02:44:00 PM
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I am surprised if they are accepting deposits from Revolut. Knowing how Kraken is very strict from which banks deposits are made and not accepting deposits from some (traditional) banks, I would not be surprised if they stop deposits from Revolut in some months. Especially if they face frauds at a high rate.

You shouldn't be surprised at all.
I cant understand why the sepa transfers wouldn't work from revolut to kraken.
Continuing to block the money flow, would be a joke.
There are KYC for both kraken and revolut, so frauds are limited if not eliminated.

Why that? Since Kraken doesn't accept deposits coming from Revolut (source link posted above by @gentleman)
As a security matter, Kraken is also blocking any deposit coming from some traditional banks (and all banks have KYC procedures) so nope, frauds are not limited or wiped out

xiaomi_
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January 26, 2018, 08:20:14 PM
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A couple days ago i made a sepa transfer from revolut to kraken and i can confirm it worked and was pretty fast!
You guys should try it too.
Maybe kraken havent updated their site.
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January 28, 2018, 08:12:24 PM
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I also appear to have successfully initiated a transfer from Revolut to Kraken.  
I was stuck for a bit because after I entered Kraken's bank info and tried to do a transfer, it said something like "beneficiary is not allowed".  
However, there was an easy fix to this:  
Ensure you’ve activated your new Euro account. More > Profile > Account Details > Euro and click activate
This gives you a unique account number and your name is on the account.
I tried this and the transfer went through!   Cheesy
TryToBeGood
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January 28, 2018, 10:20:27 PM
 #10

By the way, a Kraken employee was on Reddit one months ago saying that they believed it was now feasible to: send Euros from Revolut to Kraken, and also from Kraken to Revolut.  
  
They also pointed out their updated policy on Third Party Payment Processors like Revolut:  
  
Quote
Please note that we may accept deposits from or withdrawals to third party payment processors if they provide their clients with personalised IBANs that are in the client's own name.
Revolut does this.  I think it's okay to transfer to Kraken using Revolut, and Kraken is aware that it is happening, and they are cool with it.
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February 07, 2018, 10:13:24 PM
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I am surprised if they are accepting deposits from Revolut. Knowing how Kraken is very strict from which banks deposits are made and not accepting deposits from some (traditional) banks, I would not be surprised if they stop deposits from Revolut in some months. Especially if they face frauds at a high rate.

You shouldn't be surprised at all.
I cant understand why the sepa transfers wouldn't work from revolut to kraken.
Continuing to block the money flow, would be a joke.
There are KYC for both kraken and revolut, so frauds are limited if not eliminated.

Why that? Since Kraken doesn't accept deposits coming from Revolut (source link posted above by @gentleman)
As a security matter, Kraken is also blocking any deposit coming from some traditional banks (and all banks have KYC procedures) so nope, frauds are not limited or wiped out

I mean kraken is here to make profit.
So it would be stupid for them to continue block customers money because of some ridiculous reasons.
If i am required to verify myself both on kraken and revolut (like everywhere else as you say) i cant understand how one can "fraud" them and damage their company.
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