Updated September 29, 2026 · VaultCue Editorial Team
Kraken vs Wirex
Kraken
Wirex
Higher score in this comparison
What sets them apart
| Compare | KrakenReviewVisitVisit | WirexReviewVisitVisit |
|---|---|---|
| Monthly fee | $4.99 | $0Lower |
| Currency conversion fee | 0.2% | 0%Lower |
| Currencies | 6 | 40Higher |
| Transfer fee | Based on method and currency used; funding fees can be static (fixed) or dynamic (variable) | Free |
| Licence type | Payment institution | Not confirmed |
| Deposit protection | EU DGS up to EUR 100,000 | Not confirmed |
| Local account details | Not confirmed | IBAN, UK sort code, Us ACH |
| Free ATM withdrawals | Not confirmed | €200 |
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Key differences
- Wirex scores higher overall: 9.2 vs 8.7.
- Founded is lower at Kraken: 2011 vs 2014.
- Kraken is licensed in 7 more countries.
- Monthly fee is lower at Wirex: $0 vs $4.99.
- Currency conversion fee is lower at Wirex: 0% vs 0.2%.
- Currencies is higher at Wirex: 40 vs 6.
- Support channels: only Kraken offers Email, Phone.
- Support channels: only Wirex offers Chat.
Our verdict on each
Kraken
Kraken settles the fee trade-off by charging a subscription rather than staying free: the monthly fee of $4.99 applies to the account, and currency conversion runs at 0.2% with transfer delivery quoted as instant. It suits people who hold and convert several currencies and move money often.
Wirex
Wirex suits travellers and expats who want to hold and spend across borders with local payout details in place. You pay monthly fee of $0 with currency conversion fee of 0% and balances across 40 currencies with transfers at free for daily use.
Score breakdown
| Area | Kraken | Wirex |
|---|---|---|
| Cost | 8.7Subscription costs a monthly fee of $4.99 with conversion at 0.2%, against a site median fee of €0. | 9.4HigherTransfers at free with ATM allowance of €200 for cash access |
| Offer | 9.2The account holds 6 currencies, pays out to bank, wallet and card, and delivery is instant. | 9.5HigherHolds 40 currencies with local details IBAN, UK sort code and us ACH for everyday use |
| Trust | 8.4 | 8.8HigherOperated as Wirex Limited based in GB and founded in 2014 |
Cost in a real example
A year with 1,000 spent abroad
Kraken
$61.88
12 × $4.99 + 0.2% of 1,000
Wirex
$0
12 × $0 + 0% of 1,000
Wirex costs $61.88 less.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 28, 2026.
Licences and countries
| Country | Kraken | Wirex |
|---|---|---|
| Argentina | Not confirmed | |
| Australia | AUSTRAC (independent remittance dealer, Bit Trade Pty Ltd) ACN 163 237 634 | Not confirmed |
| Bermuda | Not confirmed | |
| Canada | FINTRAC (money services business) M19343731 | Not confirmed |
| Cyprus | Not confirmed | |
| El Salvador | Not confirmed | |
| Ireland | IE_CBI PSD_EMI IE_CBI!C453020 | Not confirmed |
| United Kingdom | Not confirmed |
Positions in our rankings
| Ranking | Kraken | Wirex |
|---|---|---|
| Multi-currency accounts | 9 of 348 | 6 of 348 |
Spending 1,000 abroad
Kraken
2
0.2% of 1,000
Wirex
0
0% of 1,000
Wirex comes out 2 lower in this example.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 28, 2026.
Every fact side by side
| Fact | Kraken | Wirex |
|---|---|---|
| Pricing model | Not confirmed | No monthly fee, Low FX |
| Features | Not confirmed | Free ATM |
| Legal entity | Payward Europe Solutions Limited | Wirex Limited |
| Headquarters | Ireland | United Kingdom |
| Founded | 2011Lower | 2014 |
| Support channels | Email, Phone, Help centre | Chat, Help centre |
Money transfer
| Fact | Kraken | Wirex |
|---|---|---|
| Delivery time | instant | Not confirmed |
| Payout methods | Bank, Wallet, Card | Not confirmed |
Where each stands against the rest
| Fact | Kraken | Wirex | Median |
|---|---|---|---|
| Monthly fee | $4.99highest quarter | $0at the median | $0 |
| Currency conversion fee | 0.2%below the median | 0%below the median | 0.5% |
| Currencies | 6above the median | 40highest quarter | 5 |
| Free ATM withdrawals | Not confirmed | €200above the median | €1 |
Median across 536 listed accounts.
Pros and cons
Kraken
Pros
- Deposit protection in the EU is EU DGS up to EUR 100,000 under the deposit guarantee scheme.
- Currency conversion costs 0.2%, under the 0.5% seen across the site.
- Support runs on email, phone and help centre, including phone and a help centre.
Cons
- The account carries a monthly fee of $4.99, where the site median is €0.
- The currency list is limited to 6, below the 9 in this group.
- Transfer fees depend on the method and currency used, and funding fees can be fixed or variable.
Wirex
Pros
- Pay monthly fee of $0 so the account adds no fixed upkeep between trips
- Exchange balances with conversion fee of 0% which helps frequent cross border spend
Cons
- Support runs on chat and help centre only, which may frustrate those who prefer voice help
Who each suits
Kraken
Who it suits
- Anyone whose money sits in more than one currency
- People willing to pay a monthly subscription for a longer currency list
- Users who want phone and help centre support alongside email
Who should look elsewhere
- Anyone after a free everyday account: Skrill charges €0 a month
- Readers who want more than 6 currencies: XTB charges €0 a month, as does AXI Card at €0
- Anyone who needs a fixed transfer price before choosing a method, since transfer fees depend on the method and currency used
Wirex
Who it suits
- Pick Wirex over eToro when you want local details such as IBAN, UK sort code and us ACH for receiving pay abroad
- Pick Wirex over bunq when you want conversion fee of 0% with monthly fee of $0 for travel use
Who should look elsewhere
- Consider Bit2Me instead if your priority is crypto exchange depth rather than everyday multi currency spending
- Consider eToro instead if your main activity is investing rather than holding travel balances
Current offers
Kraken
Current offer
Free trial
Kraken+ free 30-day trial: 30 days free, then $4.99/mo
Monthly billing and the free 30-day trial are offered exclusively through the Kraken mobile app; Kraken Web currently supports annual plans only; only one free trial available per user; automatically renews at $4.99/month unless canceled
Source, checked September 26, 2026
Country by country
| Country | Kraken | Wirex |
|---|---|---|
| Argentina | Yes | No |
| Australia | Yes | No |
| Bermuda | Yes | No |
| Canada | Yes | No |
| Cyprus | Yes | No |
| Ireland | Yes | No |
| United Kingdom | Yes | No |
Questions about each
Kraken
What does the Kraken subscription cost each month?+
The subscription account is billed a monthly fee of $4.99. That sits above the site median of €0, so the fee suits readers who will use the extra currencies rather than pay for a dormant account.
How much does Kraken charge to convert currency?+
Currency conversion is charged at 0.2%, which sits under the 0.5% recorded across the site. The gap widens for anyone converting often, which is how the subscription tends to pay back its cost.
Wirex
Does Wirex charge a monthly fee for the account+
You pay monthly fee of $0 for the personal account, so there is no fixed upkeep for holding balances. This helps if you keep the account dormant between trips. You still should review transaction linked charges before moving funds.
What does Wirex charge for currency conversion+
Currency conversion fee is 0%, which keeps swapping balances predictable while travelling. Rates can still vary by market and timing. Check the live quote in the app before confirming a larger exchange.