Kraken SEPA withdrawal Reverted

Damn, that is bad news.

Ok so basically we have to move all out cryptos to GDAX / Coinbase. What a faff.

Thanks for the info dude. Much appreciated.

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How can Revolut become a replacement for banks if we can’t even receive transfers in our accounts?

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It’s showing as the business account name of the exchange, so for Kraken it showed as Payward Ltd.

I know. I wanted to stick with Kraken because they have much better reliability and support, and history. I might still use Fire bank as an intermediary between Kraken and Revolut. Although I hate having to do so many transfers.

I couldn’t agree more. A lot of these restrictions are defeating the purpose of using processors such as Revolut. Many times I get the “Merchant isn’t supported” popup when making purchases.

Not sure what changed in the FCA regulations that they could no longer support certain exchanges starting May. It could be new regulation.

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Does Fire Bank 100% receive SEPA from crypto exchanges like Kraken and Bitpanda?

So, now that Revolut is absolutely useless, does anyone have any suggestions for a bank that doesn’t censor their customers and allows EUR payments to whomever I chose to send them to?

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I’ve just initiated a transfer from Kraken to my Fire account. So I’ll let you know how that goes hopefully very soon.

The good thing is you can transfer between Fire and Revolut by SEPA and it only took less than 2 hours, so you can still take advantage of the Revolut FX exchanging.

So if everything goes smooth with Fire (and I’m assuming it will be because I’ve heard many people had no problems) then I’d recommend using that for Euro bank account. SEPA transfers are free, and so is opening and maintaining an account.

it seems that Revolut is not serious and “changes the rules during the game”. So I will not be able to recommend this card just for this reason.

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Wtf? Why?
At least some information beforehand could be useful, I expected the money from Kraken because it has worked everytime until now. But now it’s just reverted…

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I just received my transfer from Kraken to my Fire Bank Euro account :slight_smile:

Overall it took about 9 hours.

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Swift… Good news mate. Thanks for the update.

It does not work in Hungary :frowning:

Did it work to use Fire as a bridge between Kraken and Revolut? Had no troubles with my local bank while withdrawing money from Crypto but I had really loved Revolut for daily spending as they exchange rate for EUR-RON was pretty good.

What countries are supported by Fire? I was searching but did not find. I’m based in Romania and would like to use a personal account with them as bridge from Kraken/Bitstamp to Revolut. (sadly Coinbase is not supported in my country)

Yes it worked fine for me sending money back and forth between Fire and Revolut via SEPA. It took 2 hours.

Mind you that Fire processes Euro transfers twice a day, at 9am and 1.30pm, so transfers after 1.30pm will probably be queued for the next day.

Fire debit card however did not work when I tried to use it to top up my Revolut by card. It said merchant not supported. So it’s strange that they support SEPA to Fire but not debit card top ups.

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Thank you for the answer. Are you based in UK/Ireland? I’m not sure if Fire accepts customers from Romania and was not able to find on their website… I was using Revolut to cashout crypto as their exchange rate was a lot better than my local bank and now they did this…

Just try to register, it will say if it’s available at you or not.
I can register to Mistertango.com from Hungary, i’m testing the transfers from Kraken through Mistertango to Revolut.

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Thanks for the answer. If you manage to use that bridge please come back with a feedback. All the best!

I’m based in UK. I read this on their FAQ

“The account is available via the app stores to residents (16 years and over) in the UK and Republic of Ireland.”

So I don’t think it’s available for non UK residents, sorry. But you could email them to double check.

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Are they Fin Kidding Bitstamp and Coinbase and other shitty exchanges? Why are these whitelisted and Bitpanda or Kraken blocked?

This is what I got from them at the time, “as an FCA regulated entity Revolut has to match compliance requirements which did force us to exclude some crypto exchange from our platform.”