Most fintech and banking apps still operate on the logic of a financial system built decades ago, where slow settlement times, rigid transfer rules, and siloed balances were the norm. That model made sense when people earned and spent in one local currency and rarely needed to move money across borders or asset types. 

But the way people earn, spend, and store value has evolved. Krak is building a platform that reflects that reality, one designed for speed, flexibility, and true control over your money.

Today, we’re taking a major step toward that vision.

Introducing bank transfers on Krak: send to and receive from anyone

Krak users in the European Economic Area (EEA) can send and receive bank transfers with any individual or business, not just accounts registered in their own name. This upgrade transforms Krak into a fully capable everyday financial account and expands how you move money, who you can pay, and how you get paid.

With Krak, you can:

• Receive money from anyone – Share your Krak IBAN and get paid by employers, clients, friends, family, or businesses. Incoming transfers land directly in your Krak account without manual steps, instantly and seamlessly. 
• Send money to any bank account – Pay friends who aren’t on Krak yet, transfer to family, settle rent, or pay any business or supplier. Everything moves from your Krak balance, with saved recipients and real-time payment tracking built in.
• Simplify bills with upcoming Direct Debit support – Soon, you’ll be able to automate recurring payments and effortlessly stay on top of your finances.
• Move money safely with built-in security – Built in payee verification helps ensure you’re sending funds to the right person or business, reducing the risk of fraud and giving you added confidence. 

What this unlocks 

Bank transfers are more than a feature, they represent foundational infrastructure. Each release brings Krak closer to replacing traditional banks with something faster, more flexible, and far more aligned with how people want to manage their money in the modern era. 

More control. More choices. More possibilities.

With bank transfers live, and following on the recent rollout of the Krak Card, Krak is evolving into a full-stack global money app that supports everyday spending, sending and wealth-building. These upgrades mark another leap toward our long-term vision of becoming your primary financial account for a digital-first, always-on world. 

Bank transfers are available today. Try them now in the Krak app.

Geographic restrictions apply. Instant buy/sell fees apply when you convert one asset or currency to another before making a transfer. Please see our fee schedule for more information. Applicable fees will be shown before you make a transfer.

In the EEA; Krak Card is issued by UAB Monavate, authorised by the Bank of Lithuania to carry on electronic money activities and provide related payment services (authorisation code: LB002139).  The e-money wallet associated with the KrakCard is provided by Payward Ireland Limited, trading as Kraken, is regulated by the Central Bank of Ireland. 

Mastercard® is a registered trademark of Mastercard International Incorporated. The card is issued by Monavate pursuant to license by Mastercard International Inc.