In order to setup the transfer there are 3 conditions you must meet.
1.The name on your Kraken Account MUST be the same as the Revolut Account.
2.Kraken will only make SEPA transfers.
3.You must have a EURO account setup on the Revolut App. It doesnt need to have money in it, but must exist.
Firstly open the Revolut App and select Accounts on the bottom left side and then select the Euro Account in the section above. Touch the figure at the top. That will will give you a screen with a choice of LOCAL or SWIFT bank details. You will be using LOCAL.
For security I have the deleted numbers on the IBAN and BIC numbers, but the page you need in the App should look like this one.
Now open your Kraken account and select the FUNDING tab.
Then select WITHDRAW. After that has loaded select EUR(EUR) in the left hand column. Note: they only use SEPA transfers!!
Now select Add Account.
Using the details from the Revolut App enter the details. Here is a copy of my Kraken account transfer page.
- The Description is up to you. It can be anything you want as you can save these settings in Kraken for future transfers.
- Under IBAN enter the FULL number as it appears in the Revolut App.
- Under the BIC enter the FULL number as it appears in the Revolut App.
- The other entries, like bank name and address should be the same as those in the picture.
That’s all I can tell you. Setup like that it transfers every time. Some days within a couple of hours, and other times it might take 24 hours, but they have always gone through.
Good luck and let me know how you get on.
P.S> CHeck the names on the accounts and make sure they are correct.