Manage Kraken

How to cancel your kraken account and get your money back in singapore

What is kraken and why you might cancel

Kraken is a cryptocurrency exchange platform that lets you buy, sell, trade, and hold digital assets. Whether you use the simple buy/sell interface or Kraken Pro for advanced trading, the platform operates globally-but your cancellation experience depends on which service you're actually using.

You might want to cancel Kraken+ (the premium membership), stop trading activity, or close your account entirely. Each action has different steps and different outcomes. At Stopee, we've seen many users confused about what "cancelling Kraken" actually means-so let's untangle that first.

Main services and what you pay for

Kraken offers three layers of service: the basic instant buy/sell platform (where you pay per transaction), Kraken Pro (a professional trading interface with tiered fees), and Kraken+ (a monthly subscription membership). You might use one, two, or all three at different times.

Understanding which service you're paying for is the first step to cancelling the right thing. Too many users cancel Kraken+ but keep trading-or assume closing trades means closing their account. Stopee is here to make sure you avoid that trap.

Kraken pricing and fees in singapore

Here's what Kraken costs, broken down by service type.

Important notes on fees and singapore

As of 2025, Kraken does not offer direct SGD deposits or SGD trading pairs. All prices shown are illustrative and may change. Always confirm current fees in your account settings before you trade or withdraw.

Should you cancel kraken? pros and cons

Before you cancel, ask yourself which part of Kraken you actually want to stop using.

Reasons to keep kraken

• You actively trade cryptocurrencies and find the platform reliable and secure.
• You use Kraken Pro and benefit from the tiered fee structure at high trading volumes.
• You're using Kraken+ and the zero-fee trading allowance saves you money each month.
• You want to hold cryptocurrencies long-term on a regulated exchange with custody features.

Reasons to cancel kraken

• You're no longer trading and paying monthly Kraken+ fees for a service you don't use.
• You've moved your assets to another exchange or custody provider and don't need Kraken anymore.
• You're concerned about fees eating into small trading amounts-or you prefer peer-to-peer or decentralised platforms.
• You want to consolidate your crypto holdings in one place and close dormant accounts.
• You've experienced poor customer service or disputes and want a clean break.

Stopee recommends you do a quick audit: check your last 3 months of transactions. If you haven't traded or withdrawn anything, and you're still paying Kraken+, cancelling that subscription is a no-brainer. But if you're holding assets, closing your account is a separate process.

How to cancel kraken: step-by-step for each service

Cancellation looks different depending on what you signed up for. We'll walk you through each scenario.

Cancel kraken+ subscription (via apple app store)

If you subscribed to Kraken+ through Apple's in-app billing, follow these steps to stop the recurring charge.

1. Open the App Store on the iPhone or iPad you used to subscribe.
   • Tap your profile picture in the top right corner.
   • Select "Subscriptions".
2. Find "Kraken" in your active subscriptions list and tap it.
   • You'll see the billing date and renewal amount.
3. Tap "Cancel Subscription" or "Edit" and follow the prompts to confirm cancellation.
   • You'll see a confirmation page with the cancellation date.
4. Your Kraken+ membership will remain active until the end of your current billing period, then stop automatically.
   • Pro tip: Apple sends a confirmation email. Keep it for your records.

Cancel kraken+ subscription (via google play store)

If you subscribed on Android, the process is similar but uses Google Play's interface.

1. Open Google Play Store on the device you used to subscribe.
   • Tap your profile icon (top right).
   • Select "Payments and subscriptions" then "Subscriptions".
2. Locate "Kraken" or "Kraken+" in the list and tap it.
   • You'll see your current plan and next billing date.
3. Tap "Cancel subscription" and confirm when prompted.
   • Google will ask you to confirm the cancellation one more time.
4. Your subscription ends at the next billing date-no refund for the unused portion.
   • Warning: If you cancel mid-month, you still pay until the end of that month. Cancellation takes effect at period end, not immediately.

Close open trades and withdraw your assets

If you want to stop trading on Kraken (not just the Kraken+ subscription), you need to secure your assets first.

1. Log in to your Kraken account (web or app).
   • Go to your trading dashboard or "Open Orders".
2. Cancel all open orders.
   • Select each open order and tap "Cancel" or "Close".
   • Confirm the cancellation when prompted.
3. Check your wallet balance and decide: sell your cryptocurrencies to SGD/fiat, or withdraw to an external wallet.
   • To sell: use "Instant Buy/Sell" or "Kraken Pro" to convert to fiat.
   • To withdraw: go to "Funding" or "Withdrawal", enter your destination wallet address, and submit.
4. Wait for withdrawals to confirm on the blockchain (this can take minutes to hours, depending on the network).
   • Pro tip: Always send a small test amount first to a new external wallet address.
5. Once your assets are out, your trading activity on Kraken stops naturally-you have nothing left to trade.
   • Note that your account and history remain unless you request closure.

Request full account closure

If you want Kraken to delete your account and data permanently, you must contact support directly. Account closure is not automatic.

1. Log into your Kraken account at kraken.com.
   • Ensure your wallet balance is zero (withdraw all assets first).
2. Navigate to "Settings" or "Account" and look for a "Contact Support" or "Help" option.
   • Alternatively, visit the Kraken support centre (help.kraken.com) and submit a ticket.
3. Create a new support request titled "Account Closure" or "Delete My Account".
   • In the message, state clearly: "I wish to permanently close my Kraken account and request deletion of all personal data."
   • Include your account email and, if prompted, verification documents (photo ID may be required).
4. Kraken support will confirm receipt and guide you through any final steps (verification, pending transaction review, etc.).
   • Warning: Account closure can take 5 to 14 business days. Support will email you when it's complete.
5. Once closed, your account will be inaccessible and your data flagged for deletion per Kraken's retention policy.
   • Keep the support ticket number and final confirmation email for your records.

What happens after you cancel kraken

Cancelling one thing doesn't automatically cancel everything. Here's what you need to know.

If you cancel kraken+ subscription only

• Your Kraken+ membership benefits (zero trading fees on the first S$13,500 of volume per month) end at the next billing date.
• You can still trade on Kraken Pro and use Instant Buy/Sell-you just pay normal fees again.
• Your account, trading history, and assets stay on Kraken unless you request closure separately.
• You won't receive a refund or credit for unused subscription time.

If you withdraw your assets and stop trading

• Your cryptocurrencies move to your external wallet or convert to SGD in your bank account.
• Your Kraken account still exists, but it has a zero balance.
• You can log in anytime and view your trading history-Kraken doesn't delete historical data when you stop trading.
• Any open Kraken+ subscription continues unless you cancel it separately through the app store.

If you request account closure

• Kraken permanently deletes your account and associated personal data (within their legal retention window).
• You can no longer log in or access your trading history.
• The closure is irreversible-you cannot recover the account.
• Your Kraken+ subscription (if active) stops automatically.

Refunds and what to do if kraken won't cooperate

Let's talk money. Can you get a refund from Kraken, and when does the company have to give you one?

Standard refund policy for trades and subscriptions

Kraken treats trades and regular service charges as final and non-refundable under its standard terms. If you buy or sell cryptocurrency on Kraken, that transaction is locked in. If you pay Kraken+ subscription fees, they don't refund unused time when you cancel mid-period.

This is the baseline. But there are exceptions.

Limited refund scenarios

• Unauthorised or incorrect transactions: If you spot a transaction you didn't authorise, or if the amount is wrong, report it to Kraken support within 8 weeks. Kraken will investigate and may refund.
• Card payment errors: If your card issuer or Kraken charged you twice by mistake, you have a right to a refund. Contact Kraken support with the transaction IDs.
• Cryptocurrency wallet issues: Deposits or withdrawals that fail due to Kraken's error may be refundable. Report these immediately with proof (transaction hash, block explorer link).
• Subscription disputes (payment processor level): If you cancelled Kraken+ but Apple or Google continued billing you, you can dispute the charge directly with your payment provider or bank.

How to claim a refund

1. Log into your Kraken account and go to "Support" or "Help Centre".
2. Click "Submit a Request" and select the relevant category (e.g., "Deposits & Withdrawals" or "Account & Verification").
3. Write a clear description: the transaction date, amount, type, and reason you believe it should be refunded.
   • Include the transaction ID (found in your account history or email confirmation).
   • Attach screenshots if possible.
4. Submit and wait for Kraken support to respond (typically 2-5 business days).
   • Pro tip: If Kraken denies your refund request, ask them to cite the specific policy clause. Then escalate to their complaints team.

Your consumer rights in singapore

Singapore's Consumer Protection (Fair Trading) Act protects you against unfair contract terms and misleading claims. If Kraken's terms are unfair or if the company misled you about fees or refunds, you can file a complaint with the Consumer Association of Singapore (CASE).

Additionally, the Personal Data Protection Act (PDPA) gives you the right to request deletion of your personal data within a reasonable timeframe. When you request account closure, Kraken must comply with PDPA obligations.

If Kraken refuses to honour a legitimate refund claim or drags out account closure, escalate to CASE or your bank's dispute resolution team. Stopee has guided many users through this process-and regulators take consumer complaints seriously.

Common mistakes to avoid when cancelling kraken

We know cancelling crypto platforms is confusing, and many users accidentally do the wrong thing first.

Mistake 1: cancelling kraken+ but forgetting you still have assets on the exchange

You cancel your subscription, feel relieved, and move on. Six months later, you realise you left S$500 worth of Bitcoin on Kraken and forgot about it. Assets left on any exchange remain there indefinitely, exposed to hacking risk, unless you move them out. Always withdraw before you cancel.

Mistake 2: trying to cancel a trade after you've executed it

Trades on Kraken are final once they execute. You cannot reverse a buy or sell after completion. If you made a mistake-bought the wrong token or at the wrong price-your only option is to sell again (and accept the loss or gain). There's no "undo" button. Plan your trades carefully and review the order summary before you confirm.

Mistake 3: closing your app and thinking your account is closed

Deleting the Kraken app does not close your account. Your account still exists on Kraken's servers, your assets are still there, and you're still liable for any remaining balance. Always log in online and formally request account closure if you want the account truly gone.

Mistake 4: not cancelling kraken+ via the app store correctly

Some users think they cancel by turning off notifications or changing settings in the Kraken app itself. This doesn't work. You must cancel via Apple App Store or Google Play Store directly. Otherwise, the subscription renews and you're charged again.

Mistake 5: expecting a pro-rata refund when you cancel mid-month

Kraken+ charges monthly upfront. If you cancel on day 15 of a 30-day billing cycle, you don't get a refund for the remaining 15 days. Subscription cancellations are final with no partial refunds. Cancel right after billing if you want to minimise the waste.

Cancellation checklist for kraken

Use this checklist to make sure you cancel properly and don't miss anything.

Key facts about kraken and cancellation in singapore

Let's recap the essentials so you can make an informed decision.

Your next steps and how stopee can help

Cancelling Kraken is straightforward once you know which service you're actually cancelling. Start by withdrawing all your assets, then cancel your Kraken+ subscription via the app store, then (if you want to) request account closure.

If Kraken refuses to refund an authorised transaction, won't process your account closure, or continues billing after you cancel, you have consumer protections. File a complaint with CASE or your payment provider. Stopee has helped thousands of consumers cancel cryptocurrency and trading platforms, dispute unfair charges, and recover money. Visit Stopee.com today to explore your options and take control of your subscriptions.

Your financial freedom starts with clean cancellations. Make your next move count.