✓ What SEPA is and why it’s the cheapest way to fund your Kraken account.
✓ Step-by-step: how to find your unique Kraken SEPA deposit details.
✓ How to send a SEPA transfer from Revolut (€0 fee, 1-2 days).
✓ How to send a SEPA transfer from Wise (low fees, fast).
✓ How to send from traditional banks (Deutsche Bank, BNP, Santander, etc.).
✓ Common mistakes that delay or reject your deposit (and how to avoid them).
✓ SEPA vs SWIFT vs card deposit — complete fee & speed comparison.
✓ Kraken verification levels for SEPA deposits (what you need).
SEPA transfers are for EUR deposits only. If your bank account is in GBP, CHF, or another currency, you will pay currency conversion fees. Always send EUR from a euro-denominated account. Crypto trading carries risk. This guide is for educational purposes only.
How to Use SEPA Transfer to Fund Your Kraken Account (Zero-Fee Euro Deposit Guide)
If you’re a European crypto investor, you’ve probably noticed that depositing euros into exchanges can be expensive. Credit cards charge 2-3%, SWIFT transfers cost €15-30, and some payment processors add hidden fees. But there’s a better way: SEPA (Single Euro Payments Area) transfers.
SEPA allows you to send euros between any bank accounts in 36 European countries — often for zero fees. Kraken fully supports SEPA deposits, making it the cheapest and most reliable way to fund your account. In this guide, I’ll show you exactly how to set up and send a SEPA transfer to Kraken, whether you use Revolut, Wise, or a traditional bank like Deutsche Bank, BNP Paribas, or Santander.
1. 📌 What Is SEPA and Why Should You Use It for Kraken?
SEPA (Single Euro Payments Area) is a payment integration initiative that standardizes euro transfers across 36 European countries. It was created by the European Union to make cross-border euro transfers as easy and cheap as domestic ones.
| Method | Typical Fee | Speed | Currency | Best For | SEPA Transfer | €0 – €1 (often free) | 1-3 business days | EUR only | Large deposits (€100+) |
|---|---|---|---|---|
| SEPA Instant | €0 – €3 | Seconds to minutes | EUR only | Urgent deposits |
| Credit/Debit Card | 2% – 3.5% | Instant | EUR, USD, GBP | Small deposits (under €100) |
| SWIFT Transfer | €15 – €30+ | 3-5 business days | Any currency | Non-EUR deposits |
| Revolut/Wise (to Kraken) | €0 (Revolut) / 0.5-1% (Wise) | 1-2 business days | EUR | Digital banking users |
✓ Zero or near-zero fees — most European banks offer free SEPA transfers.
✓ High limits — typically €50,000 – €1,000,000 per transaction (bank dependent).
✓ Regulated — SEPA is a European Union framework, not a crypto company.
✓ Widely supported — every EU bank, plus Revolut, Wise, N26, and others.
2. 🛡️ Kraken Verification Required Before SEPA Deposit
Before you can deposit via SEPA, you must complete Intermediate or Pro verification on Kraken. Basic (Tier 1) accounts cannot deposit via SEPA.
| Verification Level | SEPA Deposit Access? | Daily SEPA Limit | Requirements |
|---|---|---|---|
| Starter (Tier 1) | ❌ No — only crypto deposits | €0 | Email + phone |
| Intermediate (Tier 2) | ✅ Yes | €10,000 – €100,000 | ID + proof of residence |
| Pro (Tier 3) | ✅ Yes | €500,000+ | Enhanced due diligence |
1 How to verify on Kraken:
- Log into your Kraken account → click your profile icon → “Get Verified”.
- Select “Intermediate” (or “Pro” for higher limits).
- Upload your government-issued ID (passport, driver’s license, or national ID card).
- Upload a proof of residence (bank statement, utility bill — less than 3 months old).
- Wait 10-60 minutes for approval (usually within 1 business day).
✅ Once approved, SEPA deposits will appear as an option in the “Deposit” section.
3. 🔍 How to Find Your Kraken SEPA Deposit Details (Step-by-Step)
Before you can send money, you need Kraken’s bank account details. These are unique to your account (every user gets a unique reference number that identifies you).
1 Log into Kraken (web browser or mobile app).
2 Go to “Funding” → “Deposit”.
3 Select “EUR” as the currency.
4 Select “SEPA (European Union)” as the deposit method.
5 Copy the following details (you’ll need them in your bank app):
Beneficiary / Account Holder: Payward Ltd (or similar — check your Kraken page)
IBAN: (unique per user — starts with GB or LT or other)
BIC / SWIFT: (bank identifier)
Bank Name: (e.g., Bank Frick, or DBS, etc.)
Reference / Payment ID: [YOUR UNIQUE REFERENCE NUMBER — CRITICAL!]
Kraken identifies your deposit using the Reference Number (sometimes called “Payment ID” or “Transaction ID”). If you forget to include this reference, Kraken won’t know which account to credit. The funds may be returned (with fees) or stuck for weeks while support manually investigates. Never skip the reference number.
4. 📱 How to Send SEPA from Revolut to Kraken (€0 Fee)
Revolut is one of the most popular digital banks in Europe, and it offers completely free SEPA transfers to Kraken (no markup, no hidden fees).
1 Open the Revolut app → go to “Payments” → “Send”.
2 Select “EUR” as the currency (ensure you have a euro balance or exchange from GBP/other first).
3 Tap “Bank Recipient” → “Add New”.
4 Enter Kraken’s bank details (from the previous section):
- Recipient name: Payward Ltd (or as shown on Kraken)
- IBAN: Paste the IBAN from Kraken
- BIC/SWIFT: Paste the BIC from Kraken
5 In the “Reference” or “Payment ID” field, enter your unique Kraken reference number EXACTLY as shown (case-sensitive, no spaces unless specified).
6 Enter the amount you want to deposit (minimum €10, maximum depends on your Revolut plan).
7 Review everything and confirm. Revolut will show you the fee — for SEPA within EEA, it should be €0.
5. 🌍 How to Send SEPA from Wise to Kraken (Low Fees)
Wise (formerly TransferWise) is another excellent option, especially if you need to convert from GBP, CHF, SEK, or other currencies. Wise uses the mid-market rate with a transparent fee (usually 0.5-1%).
1 Log into Wise → click “Send”.
2 Select your source currency (e.g., GBP, CHF, SEK).
3 Select “EUR” as the target currency.
4 Enter the amount in EUR you want to deposit to Kraken (Wise will show the conversion + fee upfront).
5 Click “Add recipient” → choose “Bank transfer (SEPA)”.
6 Enter Kraken’s details (beneficiary name, IBAN, BIC — same as above).
7 In the “Reference” field, enter your unique Kraken payment ID.
8 Review and confirm. Wise will send the transfer within 1-2 business days.
| Feature | Revolut | Wise |
|---|---|---|
| EUR to EUR transfer fee | €0 | €0.20-0.50 + small % |
| GBP → EUR conversion fee | 0% weekdays (interbank rate) + maybe 0.5% weekend | ~0.5% (transparent, mid-market rate) |
| SEPA speed | 1-2 days | 1-2 days |
| Best for | Eurozone residents sending EUR | Non-euro residents (GBP, CHF, SEK, etc.) |
6. 🏦 How to Send SEPA from Traditional European Banks (Deutsche Bank, BNP, Santander, etc.)
If you use a traditional bank like Deutsche Bank (Germany), BNP Paribas (France), Santander (Spain), UniCredit (Italy), or ING (Netherlands), the process is similar — but you must be careful about fees and reference numbers.
1 Log into your bank’s online banking portal or mobile app.
2 Select “International transfer” or “SEPA transfer” (not SWIFT — SWIFT is expensive).
3 Choose “EUR” as the currency.
4 Enter Kraken’s bank details (IBAN, BIC, beneficiary name).
5 Enter your unique Reference / Payment ID in the “Reference” field (some banks call it “Message to beneficiary” or “Transaction ID”).
6 Enter the deposit amount (minimum €10, maximum depends on your bank).
7 Check fees — some traditional banks still charge €1-3 for SEPA. If you see a fee over €5, you’re probably using SWIFT — cancel and choose SEPA.
8 Confirm with your 2FA or card reader.
| Bank | SEPA Transfer Fee | Notes |
|---|---|---|
| Deutsche Bank (Germany) | €0 – €1.50 | Free with premium accounts |
| BNP Paribas (France) | €0 (online) / €3-5 (branch) | Online transfers free |
| Santander (Spain) | €0 – €2.50 | Depends on account type |
| UniCredit (Italy) | €0 – €1.50 | Free for “MyBank” clients |
| ING (Netherlands) | €0 | All SEPA transfers free |
| Raiffeisen (Austria) | €0 – €2 | Free online |
7. ⚡ SEPA Instant: Faster Deposits (But Not Always Available)
SEPA Instant is a newer feature that settles within seconds (up to 10 minutes) instead of 1-3 days. Kraken supports SEPA Instant from many European banks. However, some banks charge extra fees for instant transfers.
| Feature | Standard SEPA | SEPA Instant | Speed | 1-3 business days | Seconds – 10 minutes | Fee (typical) | €0 – €1 | €0 – €3 (some banks free) | Maximum amount | No limit (bank dependent) | Often €15,000 – €100,000 | Bank support | All SEPA banks | ~80% of SEPA banks (growing) | Kraken support | ✅ Yes (always) | ✅ Yes (for supported banks) |
|---|
Use SEPA Instant if your bank offers it for free (many do) and you need to deposit urgently to catch a price dip. If your bank charges €2-3 for instant, and you’re depositing €500+, the cost is negligible. For €10,000+, the fee is still worth it for immediate trading.
8. ❌ Common SEPA Deposit Mistakes (And How to Avoid Them)
| Mistake | Consequence | Solution |
|---|---|---|
| Missing or incorrect Reference Number | Deposit not credited (may be returned with €15-25 fee) | Triple-check the reference before sending |
| Bank account name ≠ Kraken account name | Deposit rejected | Use a personal account with matching legal name |
| Sending in non-EUR currency (GBP, CHF) | Conversion fees + possible rejection | Convert to EUR before sending (or use Wise) |
| Using SWIFT instead of SEPA | €15-30 fees + slower speed | Explicitly choose “SEPA” in your bank menu |
| Insufficient verification (Tier 1) | SEPA option not visible | Complete Intermediate verification first |
| Sending from business/corporate account | Deposit rejected (personal accounts only) | Use a personal bank account |
If you forget or mistype your reference number, Kraken’s automated system cannot match the deposit to your account. The funds will sit in limbo for 5-14 days. Kraken support can manually credit them, but you’ll pay a €25 manual processing fee. Always double-check your reference number before hitting “send.”
9. ⏰ How Long Does a SEPA Deposit Take to Arrive on Kraken?
| Bank Type | Example | Typical Time | Fastest Possible |
|---|---|---|---|
| Digital Bank (Revolut, N26, Monese) | Revolut | 1-2 business days | Same day (if sent before 10:00 CET) |
| Traditional Bank (Germany, NL) | ING, Deutsche Bank | 2 business days | 1 business day |
| Traditional Bank (Southern Europe) | Santander, BNP | 2-3 business days | 2 business days |
| SEPA Instant (any bank) | Supported banks | Seconds – 10 minutes | Immediate |
Kraken processes SEPA deposits every business day (Monday to Friday, excluding bank holidays). If you send your SEPA transfer on Friday evening, it will likely arrive on Monday or Tuesday. SEPA Instant deposits are credited 24/7, including weekends.
Tracking: You can check the status in Kraken → “Funding” → “Deposit Status”. Revolut/Wise also show when the transfer is complete.