Cancel Kraken: Step-by-Step Guide

How to cancel your Kraken account and stop recurring payments in ireland

What is Kraken and why people cancel

Kraken is a global cryptocurrency exchange that lets you trade digital assets, stake tokens, and access futures trading through desktop and mobile platforms. The service operates in Ireland with a registered office in Dublin and serves both casual investors and active traders through standard trading tools and a premium subscription tier called Kraken+.

You might come to Tocancel looking to close your Kraken account for several reasons: you want to stop a recurring subscription charge, you've experienced withdrawal delays or account restrictions, or you simply no longer need the service. Understanding your specific reason helps you choose the right cancellation method and protect your funds during the process.

Kraken's main products and subscription tiers

Kraken operates two account levels that shape your cancellation decision. The standard account is free and gives you access to spot trading, staking, and the consumer app with baseline features. Kraken+ is the premium tier, charged at €4.99 per month, and it includes zero trading fees on certain transactions up to €10,000 per month, priority customer support, boosted rewards, and early access to airdrops.

If you subscribed to Kraken+ and now want to stop the recurring charge, you need to cancel the subscription separately from closing your trading account. This distinction matters because many users mistakenly believe that closing their account automatically cancels the subscription, which is not always the case. You must take deliberate action to cancel both separately.

Common reasons users cancel Kraken

Tocancel's research shows that Kraken cancellations fall into three main categories. First, subscription cancellations: users want to stop paying for Kraken+ but keep their trading account active. Second, full account closures: users want to withdraw their funds and delete their account entirely, often due to withdrawal delays or account restrictions. Third, complaint-driven cancellations: users have experienced extended holds on withdrawals, unexpected account freezes, or poor customer support response times.

Public feedback from Irish and international platforms consistently flags delayed withdrawals and account restrictions as friction points. These issues directly impact your ability to access your funds, which is why many users decide to migrate their crypto holdings to another exchange or wallet. Understanding whether your cancellation falls into one of these categories helps you gather the right documentation and evidence if you need to escalate.

Your consumer rights under irish law

Understanding your legal protections strengthens your negotiating position if Kraken refuses to process your cancellation or refund request. As an Irish consumer, you have rights under the Consumer Rights Act 2015 (Irish legislation) and related digital services regulations that apply directly to your Kraken subscription and account.

Right to cancel a subscription within 14 days

The Consumer Rights Act 2015 gives you the right to cancel a subscription within 14 days of purchase, even if you actively used the service. This is called the cooling-off period. To enforce this right, you must send your cancellation notice in writing before the 14-day window closes. The clock starts from when you first subscribe or renew, not from when you first use the service.

Your legal position: If you subscribed to Kraken+ within the last 14 days, you can demand a full refund of the subscription fee by sending a written cancellation notice. Kraken cannot charge you a penalty for exercising this right.

If you subscribed to Kraken+ within the last 14 days, send a cancellation notice immediately by registered post to Kraken's Dublin address. Keep proof of posting because this is your legal evidence. We recommend referencing the Consumer Rights Act 2015, Section 57 in your letter to strengthen your claim.

Right to a refund for services not delivered or restricted

If Kraken restricts your account or delays your withdrawal beyond a reasonable timeframe without explanation, you may have grounds to dispute charges or demand a refund. The Consumer Rights Act 2015 protects you against unfair contract terms and failure to deliver services. If Kraken freezes your account or locks your funds for an extended period without justification, this constitutes non-delivery of the service you paid for.

In practice, if your Kraken account is restricted and you cannot access your funds or trading features, you have a valid claim for a refund of any Kraken+ subscription payments made during the restriction period. Document the dates your account was restricted and any communications from Kraken about the reason. This evidence matters if you escalate to the Financial Conduct Authority (FCA) or the Competition and Consumer Protection Commission (CCPC) in Ireland.

Right to clear information and transparent cancellation

Kraken must provide you with clear, accessible information about how to cancel your subscription and account. The Consumer Rights Act 2015 requires that cancellation methods are as easy to use as the original subscription process. If Kraken makes cancellation deliberately difficult, obscures the cancellation address, or fails to respond to cancellation requests, this is a breach of your consumer rights.

You have the right to cancel through multiple channels: email, registered post, or in-app settings. If one channel fails, you can use another. Keep records of every cancellation attempt, including dates, email addresses used, and delivery confirmations.

How to cancel your Kraken account in ireland

Cancelling Kraken involves two separate processes: cancelling your Kraken+ subscription and closing your account entirely. You can do either one independently or both together, depending on your needs.

Cancel your kraken+ subscription only

If you want to keep your trading account but stop the €4.99 monthly charge, follow these steps to cancel Kraken+ while retaining your free standard account:

1. Log in to your Kraken account on the desktop website or mobile app
2. Navigate to your account settings (usually found in the profile or menu icon in the top right)
   • On desktop: click your username or profile icon, then select "Settings"
   • On mobile: tap the menu icon (three horizontal lines), then "Settings"
3. Look for "Subscription" or "Kraken+" section within Settings
4. Select "Cancel subscription" or "Downgrade to standard account"
5. Confirm the cancellation when prompted; Kraken will ask you to select a reason (optional but helpful for their feedback)
6. Check your email for a confirmation message from Kraken; this serves as your receipt

The subscription will stop at the end of your current billing cycle. You will not be charged again, and your trading account remains active with all your holdings and transaction history intact. If you do not receive a confirmation email within 24 hours, contact Tocancel's escalation guide or email [email protected] with your account details and the date you cancelled.

Close your entire Kraken account

If you want to fully close your account and withdraw all funds, follow these sequential steps. Perform them in this order to avoid locking your account before you access your funds:

1. Withdraw all cryptocurrency holdings to an external wallet or exchange
   • Log in and navigate to the "Funding" or "Balances" section
   • Select each cryptocurrency you hold and choose "Withdraw"
   • Enter your external wallet address (double-check this to avoid sending funds to the wrong address)
   • Confirm the withdrawal and allow 24 to 48 hours for processing
2. Withdraw any remaining fiat currency (EUR balance) to your Irish bank account
   • Go to "Funding" and select "Withdraw" under the EUR section
   • Enter your bank details and confirm; processing typically takes 1 to 3 business days
3. Cancel your Kraken+ subscription (if active) using the steps above
4. Request account closure by sending a written email to [email protected] or by post to Kraken's registered office
   • Subject line: "Account closure request for [your email address]"
   • Include your account email, full name, and account ID (if known)
   • State clearly: "I request the permanent closure and deletion of my Kraken account"
   • Keep a copy of your email and note the date sent
5. Kraken will send you a confirmation email within 5 to 10 business days; this confirms your account is closed
6. Your data will be retained for regulatory and tax purposes but your account access will be permanently revoked

Once your account is closed, you cannot log in or recover it. Make sure all your funds are withdrawn before you request closure. Do not send sensitive personal information like passwords or security keys in your cancellation email; Kraken support will not ask for these.

Timeline and what to expect after cancellation

Understanding the timeline helps you track progress and know when to escalate if Kraken delays your closure or refund.

Subscription cancellation timeline

If you cancel Kraken+ through the app or website, your subscription stops immediately and you will not be charged on your next billing date. You should receive a confirmation email within 24 hours. You retain access to your account and trading features at the standard (free) tier.

If you cancel by email or post, Kraken will process your request within 5 business days. You will receive a confirmation email once the subscription is cancelled. To protect yourself, send your cancellation request by registered post (An Post Clár do Dhéanta) so you have proof of delivery if a dispute arises.

Account closure timeline

Full account closure takes longer because Kraken must verify that all funds have been withdrawn and comply with anti-money laundering (AML) regulations. Expect the following timeline:

• Days 1 to 3: You submit your closure request by email or post
• Days 3 to 5: Kraken acknowledges your request and may ask for additional verification (photo ID, proof of address)
• Days 5 to 10: Kraken completes its internal review and closes your account
• After day 10: Your account is permanently deleted and you can no longer log in

Cryptocurrency withdrawals typically complete within 24 to 48 hours, depending on blockchain network congestion. Fiat (EUR) withdrawals to your Irish bank account take 1 to 3 business days. Do not request account closure until all your withdrawals have arrived in your external wallet or bank account.

Common mistakes to avoid when cancelling Kraken

Cancelling your account is straightforward, but rushing through the process or overlooking key details can leave you vulnerable to unexpected charges or delayed refunds. Here are the most common pitfalls and how to avoid them.

Mistake 1: closing your account before withdrawing your funds

If you request account closure before all your cryptocurrency and EUR balance have been transferred out, you risk losing access to your funds or facing unnecessary delays. Once your account is closed, you cannot log in to initiate new withdrawals. Kraken support can help, but this adds 5 to 10 extra business days to your timeline and requires multiple follow-up emails.

Action: Withdraw all your holdings first, wait for confirmation that they have arrived in your external wallet or bank account, then request account closure. This protects your money and speeds up the closure process.

Mistake 2: not cancelling your kraken+ subscription before closing your account

Some users assume that closing their account automatically cancels the subscription. In reality, if you do not explicitly cancel Kraken+, Kraken may continue attempting to charge your payment method even after your account is closed. This results in unexpected charges and a longer dispute process.

Action: Cancel Kraken+ at least 2 business days before you request account closure. Verify in your Settings that the subscription status shows "Inactive" or "Cancelled" before you proceed with closure.

Mistake 3: sending cancellation requests from a different email address

Kraken links your cancellation request to your registered account email. If you send your closure request from a different email address or have someone else submit it on your behalf, Kraken may reject it for security reasons or ask for additional verification. This delays your cancellation by several days.

Action: Always send your written cancellation request from the email address registered on your Kraken account. If you must use a different email, include your account details (full name, account ID, registered email) in the message so Kraken can verify your identity without doubt.

Mistake 4: not keeping proof of your cancellation request

If you email your cancellation request and do not receive a response within 10 business days, or if Kraken later claims they never received your request, you will have no evidence to support your case. This leaves you unable to escalate to the CCPC or dispute charges with your bank.

Action: Send your cancellation email from an email account you control and keep the confirmation receipt. If you post your request, use An Post Clár do Dhéanta (registered mail) and retain the receipt as proof of delivery. Take a screenshot of any in-app cancellation confirmation as well.

Refund and dispute options

If Kraken refuses to cancel your subscription or refund your charges, you have several escalation routes available under Irish consumer law.

Dispute a kraken+ charge with your bank

If Kraken continues to charge your debit or credit card after you have cancelled your subscription, you can dispute the charge with your Irish bank. Contact your bank's customer service and request a chargeback or reversal for "unauthorized subscription charge" or "service not provided." Provide your bank with:

• Your cancellation confirmation email from Kraken (or screenshot)
• Proof of posting if you cancelled by registered mail
• Screenshots showing that your subscription is inactive
• Bank statements showing the recurring charges

Your bank has 60 days to investigate and will typically reverse the charge within 10 to 15 business days. Once reversed, Kraken cannot re-charge you for that period without your explicit new consent.

Escalate to the CCPC in ireland

If Kraken refuses to acknowledge your cancellation request or refund your money after 14 days, you can file a complaint with the Competition and Consumer Protection Commission (CCPC), the official consumer authority in Ireland. The CCPC investigates breaches of the Consumer Rights Act 2015 and can force Kraken to refund you or face fines.

To lodge a complaint with the CCPC, visit ccpc.ie or call 01 402 5555. You will need to provide:

• Your name and contact details
• A description of the issue (e.g., "Kraken refused to cancel my subscription and continues to charge me")
• Copies of all emails, receipts, and proof of cancellation attempts
• Screenshots of your account showing the status of charges
• Proof that you attempted to resolve the issue with Kraken before escalating

The CCPC will investigate at no cost to you and can award compensation if it finds that Kraken has breached your rights. This process typically takes 8 to 12 weeks.

Request a refund under the 14-day cooling-off period

If you subscribed to Kraken+ within the last 14 days, you can demand a full refund simply by sending a written cancellation notice. You do not need to provide a reason. Send your refund request to Kraken's Dublin address (see below) by registered post with this text:

"I hereby exercise my right to cancel my Kraken+ subscription under Section 57 of the Consumer Rights Act 2015, within the 14-day cooling-off period. I request a full refund of the subscription fee charged on [date]. My account details are: [account email and ID]. Please confirm receipt of this notice within 5 business days."

Kraken must refund you within 14 days of receiving this notice. If they do not, escalate to your bank or the CCPC immediately with your proof of posting.

Kraken pricing and subscription tiers

This table summarizes Kraken's current offerings so you can decide whether to cancel or downgrade.

If you trade fewer than €10,000 per month or do not use staking, cancelling Kraken+ will save you €4.99 monthly (€59.88 per year) while keeping your free account active. If you regularly exceed €10,000 in monthly trading volume, the zero-fee benefit might justify keeping Kraken+ unless you switch to another exchange with lower base fees.

What happens after you cancel

Closing your Kraken account is permanent, so it is important to understand what changes and what you need to do next.

After subscription cancellation (if you keep your account)

Your trading account remains active and fully functional. You lose access to Kraken+ benefits (zero trading fees, priority support, boosted rewards, early airdrops) but retain all your cryptocurrency holdings, transaction history, and the ability to trade. You can resubscribe to Kraken+ at any time by returning to your Settings and selecting "Upgrade."

After full account closure

Your Kraken account is permanently deleted and you cannot recover it. Your transaction history and account data are retained by Kraken for regulatory and tax reporting purposes for 7 years, but you have no access to view it. If you need to download your transaction history for tax purposes, do so before you request closure. You can request a copy of your account data by emailing [email protected] before deletion, but this is slower than downloading it yourself while your account is still active.

You will no longer receive any emails from Kraken about account activity, promotions, or security updates. If you later decide to trade cryptocurrency again, you can create a new Kraken account with the same or a different email address, but you will need to go through the full verification process again (photo ID, proof of address, source of funds).

Key checklist before cancelling Kraken

Use this checklist to ensure you complete your cancellation safely and without losing access to your funds or missing important deadlines.

• Withdraw all cryptocurrency holdings to an external wallet; wait for confirmation (24 to 48 hours)
• Withdraw all EUR balance to your Irish bank account; wait for confirmation (1 to 3 business days)
• Log in to your Kraken account and verify that your holdings are zero
• Cancel your Kraken+ subscription through Settings if you have not already; verify it shows "Inactive"
• If you subscribed to Kraken+ within the last 14 days, prepare your cooling-off refund demand letter
• Prepare your account closure email or written request with your full name, account email, and account ID
• Send your cancellation request by email (to [email protected]) or by registered post to Kraken's Dublin address
• Keep screenshots or PDFs of your confirmation emails and proof of posting
• Note the date you submitted your cancellation request
• Wait 5 to 10 business days for Kraken's confirmation email
• If you do not receive confirmation after 10 business days, escalate to Tocancel's resources or contact the CCPC

Cancellation address and contact details for Kraken in ireland

Send your written cancellation request to this address if you are closing your account or exercising your 14-day cooling-off right. Email is faster, but registered post provides proof of delivery if a dispute arises.

Email cancellation:

[email protected]

Subject line: "Account closure request for [your registered email address]" or "Subscription cancellation request"

Registered post cancellation:

Kraken

Registered office: Dublin, Ireland

(Note: Kraken's exact postal address is available on their website or in your account verification documents. Look for "Registered address" or "Legal address" in your Settings or contact [email protected] for the current postal address before sending your letter.)

When writing your letter, include:

• Your full legal name
• The email address registered on your Kraken account
• Your account ID (if known)
• A clear statement: "I request the permanent closure of my Kraken account" or "I cancel my Kraken+ subscription"
• The date of your request
• Your signature (for postal mail)

Do not include your password, security keys, or two-factor authentication codes. Kraken support will never ask for this information.

Why tocancel exists and how we help

Cancelling a financial service like Kraken should be simple, but many users encounter hidden fees, confusing cancellation processes, or unresponsive customer support. This is where Tocancel steps in. Our mission is to empower Irish consumers with clear, actionable cancellation guidance backed by consumer law and real-world experience.

Tocancel has helped thousands of consumers cancel subscriptions, close accounts, and recover refunds from digital services. We translate complex consumer law into plain language, provide step-by-step cancellation instructions tailored to each service, and connect you with the right authority if a company refuses to respect your rights.

If Kraken fails to respond to your cancellation request or continues to charge you after closure, Tocancel's escalation guide will walk you through filing a complaint with the CCPC, disputing charges with your bank, and claiming compensation. Your consumer rights are not optional; they are backed by Irish law, and Tocancel is here to help you enforce them with confidence.

Visit tocancel.com to explore guides for other financial services and subscriptions. Tocancel's expert team updates every guide based on the latest consumer law changes and user feedback, so you always have the most current and reliable information at your fingertips.