Users Facing Deposit Issues After Kraken's Address Change | Confusion Peaks
Edited By
Sofia Petrov
As of late April, a wave of users is reporting complications with deposits to Kraken following a recent change in both the bank address and IBAN. Notably, concerns have been raised after the platform shifted its operational base from the UK to the British Virgin Islands.
What’s Happening?
Users are experiencing difficulties sending funds to the new address at 2429, Wickhams Cay II, Tortola, VG1110. Messages from affected individuals indicate that their banks are rejecting transactions, prompting frustration and confusion. Affected users highlight that adjustments in banking details are causing significant delays.
Key Themes Emerge
Problems with Bank Policies: Users like Mac are encountering issues as their banks require both the bank address and recipient information for transfers. "My bank is asking both the bank address + the country and the recipient address + the country for the transfer," shared one user.
User Support Requests: Many are seeking clarification and assistance from Kraken’s support team. One user remarked, "Thanks for reaching out and explaining the situation. Happy to help!" highlighting the ongoing need for customer service intervention.
Transaction Rejections: There’s a noticeable pattern of banks returning funds. "My money has been returned twice which was sent on March 28, 2025," reported another user, emphasizing the urgency for a resolution.
User Sentiment
Frustration and confusion are prevalent among users navigating these changes. Direct quotes from various forums show a mix of discontent and hope for resolution, as many express a desire for clearer communication from Kraken.
"Just to clarify—when trying to send the transfer, is your bank asking for the bank address or the recipient address for the transfer?" - Support team member
Highlights
📉 Changing Kraken addresses has led to numerous deposit failures.
⚡ Banks require additional details, causing user delays in funding accounts.
🔄 Some funds have been returned multiple times, heightening frustration.
What’s Next?
Users are urged to keep communications open with Kraken as support appears ready to assist with resolving these issues. Kraken's swift response to these concerns will be crucial in restoring user confidence. Can the platform expedite resolutions for those impacted by these recent changes?