A Little Piece of Advice for Other Minnows about Kraken Withdrawal

in #minnows7 years ago (edited)

aaron-hamman-kraken-001.jpg

I know, I know the feeling fellow minnows, you converted some SBD to BTC and now want the cold hard cash in your bank account.

The process I have used for this can be found in the following guide (except mine was converted to USD )

https://steemit.com/tutorial/@beanz/how-to-get-my-usdteemit-money-into-my-bank-account

I have had some USD sitting over in Kraken following my first big (for me) steemit payout. It has been there for a little while as US residents require tier 3 verification. I finally received word a couple hours ago that I am now tier 3 verified!

Like a gleeful child, I started the withdrawal process. So, it is plastered all over the place on kraken that bank name must match your kraken name. No duh, right? Smooth sailing until I realized my bank put my first name, middle initial, last name. Whereas my Kraken account has the entire middle name. Argh!!!

I was starting to get kinda pissed, but then I realized; stay calm, you've waited this long for it plus was not money you were initially anticipating even having....so

I called the bank because I vividly recall giving them docs with my FULL name. But they only put the middle initial. It is easily rectified. I just have to go to the bank with two forms of identification and request the full name being put on the account as it should have been in the first place. I will have to do this later in the week though since the banks are closed tomorrow for July 4th.

In summary, so you don't have to wait a few extra days like I now do:

  • make sure you bank has you middle initial fully spelled out. Example kraken name Adam Edward Jones. If your bank account put you as Adam E Jones, you will NOT be able to w/d.

Simple mindless error really. Thought my bank would use the full name but whatever. Easily fixed, just gotta wait a bit longer. Have a great day everyone and full STEEM ahead!

Image source: art by Aaron Hammam https://www.artstation.com/artwork/yAGm8

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Good advice.

Glad you found it helpful :)

Nicely Explained and great Advice.

I was just thinking about opening a kraken account for transfers.

Thanks for this post @chelsea88.

Steem ON!

Steem Trust Meme.jpg

@piercetheveil
No problem! In my biased opinion it's the best way to go even though it takes longer. They really do go the extra mile for security and I can appreciate that.

Great post check mine aslo

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