Kraken Introduces Recurring ACH Deposits for Eligible US Users
Eligible US customers can schedule recurring USD deposits from a linked bank account, with a seven-day withdrawal hold.
Kraken announced recurring ACH deposits for eligible US customers on November 10. Users can schedule a fixed USD amount from a bank account linked through Plaid, choosing daily, weekly, biweekly or monthly transfers.
Kraken says there is no deposit fee. Deposited funds can be traded right away but cannot be withdrawn for seven days. A deposit does not automatically purchase an asset.
The feature is available on web and mobile to eligible US customers, excluding those in Maine and New York. Schedules can be edited or canceled; Kraken says an upcoming deposit must be canceled at least three business days before its scheduled date to stop it.
Source: Official exchange announcement
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