TL;DR
- Recurring ACH deposits let US customers (excluding customers in Maine and New York) set a fixed amount to move from a linked bank account into their account balance daily, weekly, every 2 weeks, or monthly.
- There is no fee on the deposit, and funds are available to invest immediately and available to withdraw after 7 days.
- You can pause, edit or cancel your schedule whenever you want.
- Available to US customers in USD on web and mobile, funded by ACH from a bank account linked through Plaid.
“I keep meaning to add money, but I don’t get around to it.” If that sounds familiar, this one’s for you.
Today we’re launching recurring ACH deposits for US customers. Choose an amount, choose a schedule, and we’ll move that money from your linked bank account into your account balance on the days you pick. clNothing is bought when a deposit arrives. The money simply lands in your account, ready when you are.
Set it once
One decision replaces a lot of them. Choose your amount and how often, and you’re done. You can pick from four schedules:
- Daily
- Weekly
- Every 2 weeks
- Monthly
Your first deposit happens on the start date you choose, pulled from the bank account you’ve already linked. The amount stays the same each time, and there’s no fee on the deposit.
Funding on your schedule
Line your deposits up with payday, or any day that suits you, instead of whenever you happen to remember. Funds are available to invest as soon as they arrive, and available to withdraw after 7 days.
Automatic, and still yours
A standing deposit doesn’t mean giving up control. You can pause, edit, resume, rename or cancel a schedule whenever you want.
Your schedule view shows your next deposit date, the total you’ve deposited so far and your recent deposits. We also send an email and a push notification each time a deposit succeeds or fails, and whenever your schedule changes.
How to set up a recurring deposit
- Open Add money and enter an amount.
- Change the frequency from One time to Daily, Weekly, Every 2 weeks or Monthly, then set a start date.
- Select the bank account you’ve linked through Plaid. If your link has expired, reconnect it first.
- Review and accept the standing authorization, then confirm.
That’s it. On each deposit date, we pull the amount you chose from your linked bank account into your balance.
What to know before you start
- Recurring ACH deposits are available to US customers only (excluding customers in Maine and New York) in USD, on web and mobile.
- You need a bank account linked through Plaid. New to linking? You can add one when you set up your schedule.
- The amount is fixed when you create the schedule. To change it, edit your schedule.
- Funds are available to invest right away and available to withdraw after 7 days.
Ready to set your schedule?
Choose your amount, choose your day, and let your account fund itself.
Recurring deposits automatically debit a client’s linked bank account on the schedule the client chooses until the client cancels. Available to eligible US clients. Each deposit can be withdrawn after 7 days. To stop an upcoming deposit, clients must cancel at least 3 business days before its scheduled date. See EFT Disclosures at kraken.com/legal/electronic-fund-transfer-disclosures
