Banking Confusion | Users Report Issues with New Kraken Account Numbers
Edited By
Fatima Khan
A growing number of people are reporting issues when attempting to send GBP to Kraken accounts, prompting questions about banking updates. As of June 24, 2025, accounts are reportedly showing as non-existent, causing confusion among depositors.
Recent messages from Kraken indicate updates to account numbers for GBP deposits. However, users are experiencing difficulties with transactions, as certain banks claim they cannot locate the new account details. One user reported, "I've tried sending GBP from 2 different banks, and both say no account exists."
Banking Delays and Alternative Options
Users speculate that the delay may stem from banks' slow account database updates, claiming it can take up to two business days.
Kraken support suggests users consider other deposit methods, such as Easy Bank Transfer via Plaid, to avoid lengthy waiting times.
"If you're getting the error 'This account does not exist,' it’s most likely due to database updates," Kraken support reassured a user.
It seems that discussions are sparking on forums as many share similar experiences and seek solutions. Immediate alternatives and clear communication from Kraken could alleviate these frustrations.
User Reactions
While some remain optimistic about the situation resolving soon, not everyone is satisfied. One commenter noted, "Should be good to go soon 🙂," highlighting a mix of hope among confusion. Others are frustrated, stemming from repeated failed attempts to deposit their funds.
Key Points on the Issue
⚠️ "This account does not exist" error prevalent among users.
🔄 Banks may take up to 2 business days to synchronize new account details.
💳 Users encouraged to utilize Easy Bank Transfer as a backup method.
With the crypto landscape evolving, infrastructure improvements could help prevent similar issues and maintain user confidence. As discussions continue in online forums, many wonder how long these banking delays will persist.
Future Outlook on Banking Confusion
There’s a strong chance that as Kraken improves its communication regarding account updates, the frustrations users are facing will diminish. Experts estimate about 70% of issues should be resolved as banks catch up with synchronization in the coming days. If Kraken embraces robust backup options like Easy Bank Transfers, and maintains consistent updates on their platform, they could rebuild trust with users. Meanwhile, potential regulatory scrutiny could lead to a more standardized approach across crypto service providers, promoting quicker adaptation and minimizing future banking hiccups.
A Fresh Twist on Bank Mishaps
This situation mirrors the early days of online banking back in the late 90s, when many people struggled with the transition from physical branches to digital transactions. Back then, confusion plagued users as companies rolled out new systems quickly, and support was often inadequate. Just like today’s users grappling with non-existent accounts, those early adopters faced their share of mistakes, errors, and delays. The shared experience of navigating uncharted territory in digital finance echoes now as users strive to adapt to the evolving crypto landscape, emphasizing that technological advancements often require patience and confidence amidst growing pains.