Funding and Withdrawals on your MTF account

Funding and Withdrawals on your MTF account

This support article explains how MTF members can deposit and withdraw USD funds to and from their Spot wallet and Multi-M (MTF) wallet via Kraken Pro for trading futures products. Transfers between wallets are instant, however, USD deposits via bank transfer may take 1 to 5 business days.

Depositing USD funds on Kraken Pro web

To trade on the Kraken Pro website you will need to deposit USD funds into your Spot wallet. Please note Multi-M (MTF) accounts are limited to Linear Futures trading. Other services such as spot-margin and staking, will not be accessible. In order to trade Linear Futures products, you must first transfer funds to your Multi-M (MTF) wallet – funds in your Spot wallet do not count towards margining of your derivatives positions.

Depositing USD funds

• Navigate to the Home tab and then click Deposit or Deposit cash.

• Click the US Dollar button.

• Click on the Get deposit details button.

 

• Once you have entered in the required details click on the Done button.
  Prevent deposit delays: Your Kraken account’s public account ID (iiban) is required in the reference for your deposit. Your Kraken Public Account ID which starts with AA and is 16 characters long. If your public account ID is input incorrectly or is missing from the deposit instructions with your bank, your deposit will not be credited to your Multi-M (MTF) account.

• You will be informed once we have received the deposited USD funds and it is available in your Multi-M (MTF) account.

Transferring to and from MTF Wallets

To start trading on the Multi-M (MTF) accounts you will need to transfer the USD funds from your Spot wallet directly into your Multi-M (MTF) wallet.

Transfer USD funds from the spot wallet to the MTF wallet

• Navigate to the Portfolio tab and then click Derivatives.
• Click the Transfer button.
• Click on Preview Transfer to review the transfer details and then click Confirm Transfer.
• Once submitted, you will see a green notification at the bottom right of the screen.
• After a few sounds your funds will be in your Multi-M (MTF) account and you are ready to start trading.

Transfer USD funds from the MTF wallet to the spot wallet

• Navigate to the Portfolio tab and then click Derivatives.
• Click the Derivatives transfers button.
• Click on Preview Transfer to review the transfer details and then click Confirm Transfer.
• Once submitted, you will see the pop up and after a few seconds your funds will be in your Spot wallet.

Withdrawing USD funds on Kraken Pro web

To withdraw USD funds, you must first transfer them from your Multi-M (MTF) wallet back to your Spot wallet. Withdrawals can only be initiated from the Spot wallet. Before withdrawing you will need to make sure that a withdrawal account has been added.

Withdrawing USD funds

• Navigate to the Portfolio tab and then click Withdraw.

• Click the US Dollar button.

• Click on the Add withdrawal account button.

• Click on SWIFT Via Bank Frick.

• Input Bank Details that you would like the USD funds to be withdrawn to and click on the Add withdrawal account button.

• Enter the amount you wish to withdraw and click on Preview withdrawal.

• You will be informed once we have withdrawn the USD funds to your selected withdrawal account.

Transfer Minimums

Transfers between the spot and MTF wallet are free, seamless and typically take less than 10 seconds to complete.

FAQ

• What deposit methods are supported for USD funding on Multi-M (MTF) accounts?

Currently the only supported deposit method is SWIFT via Bank Frick

• Are there any fees I should be aware of?

Yes, USD deposits are subject to a $3 USD processing fee, while USD withdrawals incur a $13 USD fee. These fees apply per transaction and will be deducted from the transferred amount.

• What is the difference between the Spot and Multi-M (MTF) wallet?

The Spot wallet is used for funding and withdrawing USD funds only. The Multi-M (MTF) wallet is specifically designated for Linear Futures trading - funds in your Spot wallet do not count towards margining of your derivatives positions.

• What’s the difference between the Multi-M (MTF) wallet and the Coin-M (MTF) wallet when trading Futures?

The type of Futures product you intend to trade determines which wallet you need to fund.

• Linear Futures contracts, which are collateralised and settled in USD, require funding of your Multi-M (MTF) wallet.
• Inverse Futures contracts, which are collateralised and settled in the underlying cryptocurrency (e.g. BTC or ETH), require funding of your Coin-M (MTF) wallet.

To ensure margin is correctly allocated, please transfer funds into the appropriate wallet based on the contract type you intend to trade.

• Can I deposit or withdraw directly into/from my Multi-M (MTF) wallet?

No, USD funds can only be deposited into and withdrawn from your Spot wallet. To use funds for Linear Futures trading, you must first transfer them from your Spot wallet to your Multi-M (MTF) wallet. Similarly, withdrawals require transferring funds back to the Spot wallet first.

• What are the banking hours and cut-off times for USD deposits ?

USD deposits and withdrawals are processed during Bank Frick’s standard banking hours, which are Monday to Friday from 08:00 to 17:00 CET, excluding public holidays in Liechtenstein.

Transfers initiated after this time or outside of business hours will be processed on the next business day. We recommend initiating deposits or withdrawal requests as early as possible in the day to ensure timely settlement.

• Are USD funds in my Spot wallet held by any other entity?

No, funds in your Spot wallet are safeguarded in Crypto Facilities Ltd's (“Kraken MTF”) Client Asset bank account along with funds in your Multi-M (MTF) wallet.

• I initiated a transfer but don’t see the funds - what’s next ? 

Please get in touch with our support team by submitting a support ticket by clicking here.

Regulatory Disclaimer

Kraken MTF is authorised and regulated by the United Kingdom Financial Conduct Authority ("FCA") and is permitted to hold client money under the Client Asset Sourcebook ("CASS"). Any USD balances in custody by Kraken MTF will be held in accordance with applicable FCA regulatory requirements.