✓ Why Revolut + Kraken is the cheapest way to fund your crypto account in Europe and the UK.
✓ Step-by-step: how to find your Kraken SEPA deposit details (EUR/GBP).
✓ Step-by-step: how to send a SEPA transfer from Revolut to Kraken (€0 fee).
✓ How to avoid Revolut’s weekend currency conversion fees.
✓ Revolut vs Wise vs traditional banks: which is cheapest for Kraken deposits?
✓ Common mistakes that delay or increase costs (and how to avoid them).
✓ How to convert fiat to crypto once your funds arrive on Kraken.
✓ Real example: depositing €1,000 from Revolut to Kraken — total cost breakdown.
This guide is for educational purposes only. Cryptocurrency trading carries risk. Deposit methods, fees, and processing times are subject to change. Always verify current information on Kraken’s and Revolut’s official websites. This is not financial advice.
1. 💡 Why Revolut + Kraken Is the Cheapest Way to Buy Crypto in Europe
If you live in Europe or the UK, you have many options to fund a crypto exchange: credit cards (2-3% fees), debit cards (1.5-2% fees), bank transfers (€0-5), or third-party on-ramps (1-2% fees). The cheapest method by far is SEPA transfer from a digital bank like Revolut to Kraken.
✓ Kraken charges €0 for SEPA deposits — no deposit fee whatsoever.
✓ Revolut offers free SEPA transfers (standard SEPA, 1-2 business days).
✓ Revolut uses the interbank exchange rate (mid-market rate) for currency conversion — no hidden markup.
✓ Total cost to deposit €1,000: €0. You keep 100% of your money.
✓ Kraken’s trading fees are among the lowest in the industry (0.16% maker / 0.26% taker for spot).
| Funding Method | Fee (on €1,000) | Speed | Best For |
|---|---|---|---|
| Revolut → Kraken SEPA | €0 | 1-2 business days | EUR deposits, large amounts, no rush |
| Revolut → Kraken SEPA Instant | €0 – €0.50 | Seconds – 10 min | Urgent deposits, supported banks |
| Debit/Credit Card (direct) | ~€15 – €25 (1.5-2.5%) | Instant | Small, urgent deposits (under €100) |
| Traditional Bank SEPA | €0 – €5 | 1-3 business days | Users without Revolut |
| Third-party on-ramp (Banxa/Simplex) | ~€15 – €30 (1.5-3%) | Instant – 30 min | Users without bank account |
2. ✅ Prerequisites: What You Need Before Starting
Before you can deposit from Revolut to Kraken, complete these steps. They take 10-20 minutes total.
🟢 KRAKEN ACCOUNT
- Sign up at Kraken.com (email + password).
- Complete Intermediate verification (Tier 2) — required for SEPA deposits.
- Documents: Government ID (passport/driver’s license) + proof of address (bank statement or utility bill).
- Verification time: 10-30 minutes (usually faster).
- Enable 2FA (Google Authenticator or hardware key) for security.
🟢 REVOLUT ACCOUNT
- Sign up at Revolut.com or via mobile app.
- Complete identity verification (passport or national ID).
- Add funds to your Revolut account (bank transfer, card, or Apple/Google Pay).
- Ensure you have a EUR balance (for SEPA to Kraken). If your base currency is GBP or other, exchange to EUR first (weekdays to avoid weekend fees).
- Standard Revolut plan is fine — free plan includes 1 free SEPA transfer per month? (Check current plan — most include free SEPA).
Your full name on Revolut must exactly match your full name on Kraken. If names don’t match, Kraken will reject the deposit and may charge a return fee (€15-25). Use the exact legal name on both accounts.
3. 🔍 Step 1: Find Your Kraken SEPA Deposit Details
Every Kraken user gets unique SEPA deposit details. Here’s how to find them.
1 Log into your Kraken account (web browser recommended for first setup).
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 Revolut):
Beneficiary / Account Holder: Payward Ltd (or similar — check your Kraken page)
IBAN: (unique per user — starts with GB, LT, or other)
BIC / SWIFT: (bank identifier, e.g., DABAIE2D)
Bank Name: (e.g., Bank Frick, or DBS Bank, etc.)
Reference / Payment ID: [YOUR UNIQUE REFERENCE NUMBER — CRITICAL!]
⚠️ DO NOT SKIP THE REFERENCE NUMBER. Kraken uses it to identify YOUR deposit.
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 €15-25 fees) or stuck for weeks while support manually investigates. Never skip the reference number. Copy and paste it exactly as shown.
4. 📱 Step 2: Send SEPA Transfer from Revolut to Kraken
Now that you have Kraken’s details, let’s send the money from Revolut.
1 Open the Revolut app → Go to “Payments” → “Send”.
2 Select “EUR” as the currency. IMPORTANT: Ensure you have a euro balance. If your Revolut account is in GBP, exchange to EUR before sending (see section 5 on avoiding fees).
3 Tap “Bank Recipient” → “Add New”.
4 Enter Kraken’s bank details exactly as shown on your Kraken deposit page:
- Recipient name: Payward Ltd (copy exactly from 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 extra spaces).
6 Enter the amount you want to deposit (minimum €10, maximum depends on your Revolut plan).
7 Review the fee — Revolut will show you the transfer fee. For standard SEPA within EEA, it should be €0 (or very close to €0).
8 Confirm with 2FA or Face ID → Your transfer is submitted.
9 Done! Funds will arrive in Kraken within 1-2 business days (often next day if sent before 14:00 CET).
| Setting | Correct Value | Notes |
|---|---|---|
| Currency | EUR | Send EUR, not GBP. Revolut will auto-convert but may add fees. |
| Transfer type | SEPA (standard) | Not “SEPA Instant” unless you need speed (may have small fee) |
| Fee (Standard plan) | €0 | Free for standard SEPA within EEA |
| Reference number
一道Your unique Kraken reference | MANDATORY. Copy exactly from Kraken. |
5. 💰 How to Avoid Revolut’s Currency Conversion Fees
Revolut is famous for its low fees, but there are traps. Here’s how to avoid paying unnecessary currency conversion costs.
✅ DO THIS (FREE):
- Exchange GBP → EUR on weekdays (Monday to Friday, during market hours). Revolut uses the interbank (mid-market) rate with no markup on weekdays for Standard plan users (up to £1,000 per month free).
- Keep a EUR balance in Revolut. Send SEPA directly from your EUR balance — no conversion at time of transfer.
- Use standard SEPA (1-2 days) instead of SEPA Instant (may have fee).
- Stay within your free monthly limit (Standard plan: £1,000/€1,000 free exchange per month).
❌ AVOID THIS (EXPENSIVE):
- Exchanging currency on weekends — Revolut adds a 0.5-1% markup on weekends.
- Sending SEPA from GBP balance — Revolut will convert at the time of transfer, potentially with markup.
- Exceeding your free monthly exchange limit — after £1,000, Revolut charges 0.5% fee.
- Using SEPA Instant if your bank charges for it (Revolut doesn’t charge for SEPA Instant for most plans, but check).
If you’re depositing more than €1,000, consider upgrading to Revolut Premium or Metal for unlimited free currency exchange. Premium costs ~€7.99/month and pays for itself after exchanging ~€1,600/month (0.5% fee saved). For a one-time large deposit, you can exchange on weekdays within your free limit and send multiple SEPA transfers over several months.
6. ⏱️ Step 3: Tracking Your Deposit & What Happens Next
After you send the SEPA transfer from Revolut, here’s the timeline and how to track it.
| Stage | Time | What to Check |
|---|---|---|
| 1. Revolut shows “Sent” | Immediately after confirmation | Check Revolut transaction history |
| 2. Revolut shows “Completed” | Usually within hours | Funds have left Revolut, on their way to Kraken’s bank |
| 3. Kraken shows “Pending” (optional) | 1-24 hours after Revolut completion
一道Check Kraken → Funding → “Deposit Status” | |
| 4. Kraken credits your account | 1-2 business days total
一道Funds appear in your EUR balance. You can now trade. |
✓ SEPA transfer sent Monday before 14:00 CET → Usually credited Tuesday morning.
✓ SEPA transfer sent Thursday after 16:00 CET → Usually credited Monday (weekend delay).
✓ SEPA Instant (if supported by your Revolut account and Kraken’s bank) → Seconds to 10 minutes.
✓ First-time deposit may take 1 extra day for compliance checks.
7. 🏦 Revolut vs Wise vs Traditional Banks for Kraken SEPA Deposits
一道Small to medium EUR deposits (€1,000-2,000/month)
一道Large deposits (€10,000+), frequent traders
一道EUR to EUR only (no conversion), free SEPA if available
一道UK users sending GBP via Faster Payments (different method)
For European users depositing EUR, Revolut’s free SEPA and interbank exchange rates make it unbeatable. For UK users depositing GBP, you can use Revolut to exchange to EUR (weekdays, free) then send SEPA, or use Kraken’s Faster Payments (GBP) directly from a UK bank account (also free).
8. 💱 Step 4: Convert Your EUR to Crypto on Kraken
Once your EUR arrives on Kraken, you need to buy crypto. Here’s the cheapest way to do it.
1 Go to “Trade” on Kraken → Select “Kraken Pro” (lower fees) or “Advanced”.
2 Select your trading pair: BTC/EUR, ETH/EUR, or USDT/EUR (depending on what you want to buy).
3 Choose order type: Limit order (recommended) or Market order (instant but slightly higher fee).
4 Enter the amount in EUR you want to spend.
5 Review the fee — Kraken Pro fees are 0.16% (maker) and 0.26% (taker). For a €1,000 purchase, that’s €1.60-2.60.
6 Click “Buy” → Your crypto appears in your Kraken account.
| Platform | Maker Fee | Taker Fee | Fee on €1,000 trade |
|---|---|---|---|
| Kraken (Basic interface) | 0.50% – 1.00% (spread included) | 0.50% – 1.00% | €5 – €10 |
| Kraken Pro / Advanced | 0.16% | 0.26% | €1.60 – €2.60 |
The basic Kraken interface has wider spreads and higher effective fees. Kraken Pro (free, just toggle in settings) offers institutional-grade fees. On a €10,000 trade, switching from basic to Pro saves you €50-100. Don’t pay more than you need to.
9. 📋 Real Example: Depositing €1,000 from Revolut to Kraken
Let’s walk through a real example with actual costs.
💰 Step 1: You have £850 in your Revolut (GBP) and want to deposit €1,000 to Kraken.
🔄 Step 2: Exchange GBP → EUR in Revolut on a Tuesday (weekday).
Exchange rate: 1 GBP = 1.18 EUR (example).
You exchange £847.46 → €1,000.
Fee: €0 (within free monthly limit).
📤 Step 3: Send SEPA transfer from Revolut EUR balance to Kraken.
Amount: €1,000.
Revolut SEPA fee: €0.
Reference number: included (copied from Kraken).
⏰ Step 4: Funds arrive in Kraken after 1 business day.
Kraken deposit fee: €0.
Your Kraken EUR balance: €1,000.
📈 Step 5: Buy BTC on Kraken Pro with limit order.
BTC price: €60,000.
You buy 0.0164 BTC (€984 worth, leaving €16 for fees).
Trading fee (0.16% maker): €1.57.
Total cost: €1,000 deposited, €1.57 trading fee = 0.157% total cost to buy crypto.
✅ Total fees paid: €1.57. Compare to credit card (€20-25) — you saved €18-23.
10. ❌ 5 Common Mistakes (And How to Avoid Them)
| Mistake | Consequence | How to Avoid |
|---|---|---|
| Missing or incorrect reference number | Deposit not credited — returned with €15-25 fee | Copy and paste reference from Kraken. Triple-check. |
| Exchanging currency on weekends | 0.5-1% markup on Revolut | Exchange Monday-Friday only | Sending from GBP balance (not EUR)
一道Revolut converts at time of transfer with possible markup 一道Create EUR balance first, exchange on weekdays, then send |
| Name mismatch (Revolut vs Kraken) | Deposit rejected, return fees | Use exact legal name on both accounts |
| Using basic Kraken interface to buy crypto | 2-5x higher trading fees | Use Kraken Pro (free toggle) for limit orders |
11. ⚡ SEPA Instant: When You Need Funds in Seconds
If you need to deposit urgently to catch a price dip, Revolut supports SEPA Instant. Here’s how it compares.
Use SEPA Instant if you see a dip you want to buy immediately. The small fee (€0-0.50) is worth it to capture a 1-2% price movement. For regular deposits (DCA), use standard SEPA to save the fee.
12. ❓ Frequently Asked Questions (Revolut + Kraken SEPA)
| Question | Answer |
|---|---|
| Is Revolut to Kraken SEPA really free? | Yes — Kraken charges €0 for SEPA deposits. Revolut charges €0 for standard SEPA transfers (within EEA). The only cost is if you exchange currency on weekends or exceed free limits. |
| Can I send GBP from Revolut to Kraken? | Yes — but Kraken’s GBP deposit method is Faster Payments, not SEPA. Revolut supports Faster Payments to UK bank accounts. The process is similar but uses different details. Check Kraken’s “GBP” deposit page for Faster Payments instructions. |
| How long does the first deposit take? | First deposit may take 1-2 business days (same as subsequent deposits). Occasionally, Kraken may hold the first deposit for 1 extra day for compliance checks. After the first deposit, subsequent deposits are faster. |
| What’s the minimum deposit from Revolut to Kraken? | Kraken minimum SEPA deposit: €10 (or equivalent). Revolut minimum transfer: usually €1 or equivalent. |
| Can I withdraw from Kraken to Revolut? | Yes — Kraken supports SEPA withdrawals to Revolut (€0 fee). Process: Kraken → Withdraw → EUR → SEPA → enter your Revolut EUR account details (IBAN, BIC). Funds arrive in 1-2 days. |
| Is Kraken safe for large deposits? | Yes — Kraken has never been hacked (founded 2011), holds 95% of funds in cold storage, and is regulated in multiple jurisdictions (including Germany, Netherlands, UK, US). For deposits over €100,000, complete Pro verification first. |
| What if my deposit doesn’t arrive after 3 days? | Check Revolut transaction status (should show “Completed”). Check Kraken “Deposit Status” page. If still pending, contact Kraken support with your Revolut transaction receipt and Kraken reference number. |
✅ Revolut + Kraken = The Cheapest Way to Buy Crypto in Europe
Total cost to deposit €1,000 and buy Bitcoin: €1.57 (0.157%).
Compare to credit card (2.5% = €25) or card on-ramp (1.5% = €15). You save €13-23 per €1,000 deposited.
For UK users (GBP): You can also use Revolut to exchange GBP→EUR (free weekdays) then SEPA to Kraken. Or use a UK bank with Faster Payments directly to Kraken’s GBP account (also free).
For European users (EUR): Revolut SEPA is the absolute cheapest method. No competition.
✅ Complete Kraken Intermediate verification (Tier 2) — required for SEPA.
✅ Add funds to Revolut → Exchange to EUR on a weekday (if needed).
✅ Get your unique Kraken SEPA deposit details (IBAN, BIC, Reference Number).
✅ Send SEPA from Revolut to Kraken — include the reference number!
✅ Wait 1-2 business days → Funds appear in your Kraken EUR balance.
✅ Use Kraken Pro to buy crypto with limit orders (0.16% maker fee).
✅ Congratulations — you just funded your crypto account with near-zero fees!
🚀 READY TO START? Open Kraken → Complete verification → Get SEPA details → Send from Revolut. Your first deposit will arrive in 1-2 days.