Kraken reports possible EUR and GBP funding delays through Banking Circle

Money Notes analysis

Switching deposit providers also means changing payment instructions

Banking Circle handles EUR SEPA and SEPA Instant transfers and GBP FPS transfers for Kraken. Users with an urgent deposit can check their account for other available methods and the corresponding payment instructions.

For UK personal accounts, Kraken documents a practical difference: Banking Circle provides an account in the customer’s own name with no deposit reference required. Bank Frick uses Payward Services Limited as the beneficiary and requires the displayed reference. Selecting a different provider while reusing the old bank details will not route a payment through the newly selected provider. Banking Circle also does not support SWIFT or GBP CHAPS, so those methods cannot serve as substitutes for transfers to the same account.