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Local bank transfer on Kraken

Our rating
4.7
Offered in
2 countries
Type
Domestic bank rail
Rail reviewed
2026-08-18
Review updated
2026-08-23

Yes. Kraken takes Local bank transfer in 2 of the 127 countries we rank it in: Australia and Switzerland. Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days. By reach it is fifth of the 14 rails on our record for Kraken; Credit or debit card is offered in more countries.

What Local bank transfer is

A local bank transfer moves money between two accounts inside a single country's own payment system, with no correspondent bank and no currency conversion. The scheme is national and different everywhere: SEPA credit transfers and SEPA Instant in the euro area, FedNow and ACH in the United States, Pix in Brazil. The BIS counts fast payment systems live in more than 100 jurisdictions, and the FedNow Service, operated by the Federal Reserve since July 2023, runs a 24 hour business day every day including weekends and holidays. For someone funding an exchange in their own currency this is normally the cheapest option.

Speed
Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days.
Cost of the rail
Domestic transfers are free or close to free for consumers in most countries, and in the euro area the Instant Payments Regulation forbids charging more for an instant credit transfer than for a standard one.
Limits
The scheme ceiling is usually far higher than what you can actually send, because your own bank applies its own lower per transfer and daily limits on top of it.

Every exchange that takes Local bank transfer

Where Kraken offers Local bank transfer

Each country opens the Kraken page for that market, with its rank there and every rail it takes. The number is Kraken's rank in that country's guide.

Europe (1)

Oceania (1)

Named locally as Direct bank deposit, Swiss franc bank transfer (CHF).

What Local bank transfer costs on Kraken

ACH and SEPA deposits are free or low cost; card and digital wallet deposits carry processing fees.

Country notes from our guides for this rail on Kraken. Each links the page explaining Local bank transfer in that country.

Switzerland
Swiss franc bank transfer (CHF): free over SIC, 100 franc minimum

Other ways to pay on Kraken

13 other rails at least one country we rank Kraken in uses, widest reach first.

Frequently asked questions

Does Kraken accept Local bank transfer?

Yes, in 2 of the 127 countries we rank it in: Australia and Switzerland. By reach it is fifth of the 14 rails on our record for Kraken; Credit or debit card is offered in more countries. Support is decided market by market, so the country pages linked here are the exact list.

In which countries can I use Local bank transfer on Kraken?

Australia and Switzerland, from our country guides reviewed between 2026-08-12 and 2026-08-23. Locally it appears as Direct bank deposit and Swiss franc bank transfer (CHF).

How long does a Local bank transfer deposit take on Kraken?

Instant rails settle in seconds, and the ECB requires euro instant credit transfers to reach the payee within ten seconds, 24 hours a day, 365 days a year, while older batch transfers still take one or two business days. That describes the rail itself; Kraken may hold a first deposit for longer while it verifies your account.

What does Local bank transfer cost on Kraken?

Domestic transfers are free or close to free for consumers in most countries, and in the euro area the Instant Payments Regulation forbids charging more for an instant credit transfer than for a standard one. On Kraken's side: ACH and SEPA deposits are free or low cost; card and digital wallet deposits carry processing fees. Country notes: Switzerland, free over SIC, 100 franc minimum.

Are there limits on Local bank transfer deposits?

The scheme ceiling is usually far higher than what you can actually send, because your own bank applies its own lower per transfer and daily limits on top of it. Any limit Kraken applies on top is set per account tier and shown inside the platform.

Sources