Why do bank transfers get rejected by Kraken and Coinbase?

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kraken rejection

A common frustration for crypto traders is that they setup a kraken account and an ewallet only to find that payment from their ewallets are rejected by kraken.

The reason is pretty simple. Most e-wallets and payments processors send payments under their own name rather than the customers name (example paypal/payoneer/transferwise). When kraken received the payment they rejected it as they can't match the account holder name to their customer. Hence funds get sent back due to their strict compliance rules.

How can you solve this?

There is no east way around this but to talk to kraken or coinbase's compliance staff and see if they will manually approve the payment or money flow.

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h3>How do we solve this?>/h3>
We work with kraken and other exchanges to make sure payments coming from our customers are pre-verfied so that payments are not rejected and sent backs.

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