Krak: Send & Receive Money

Payward, Inc.

About this app

Krak is a money app that helps you earn, send and spend. Get up to 8% APY, send money to 160+ countries and unlock travel perks with Krak Concierge.

→ YOUR MONEY WORKS WHILE YOU SPEND
Krak puts select assets to work at up to 8% APY. No lock-ins, no minimum balance. Always earning and ready to spend when you need it.

→ SEND, SPLIT AND PAY GLOBALLY
— Send money to 160+ countries.
— Pay anyone instantly with a @Kraktag.

→ KRAK CONCIERGE
Up to 60% off luxury hotel bookings and up to 6% cashback on top.

→ DISCLAIMERS
Geo restrictions apply. Instant buy/sell fees apply when you convert one asset to another before making a transfer. Please see our fee schedule for more information: www.kraken.com/features/fee-schedule.

APY is variable and not guaranteed; there is a risk of loss. Onchain interactions involve technological, market, and operational risks (see Terms of Service). Kraken does not control third-party protocols. Provided by Payward Wallet, LLC. Fees apply. Geo restrictions apply. Vaults are an unregulated product.

Geographic restrictions apply. Rewards rates are determined and paid out by Kraken in its sole discretion and are subject to change. See our Terms of Service for more info. Due to its partnership with the issuer, Kraken receives an economic benefit with respect to amounts of stablecoin minted, held on platform, and received in on-chain transfers.

Geo restrictions apply. Krak Concierge processes bookings via Entravel Holdings Ltd. (“EH”). Krak is not a travel agent and the merchant of record for bookings. Prices, taxes and fees are set by the provider. Cancellations/refunds follow the hotel and/or EH policy. Instant buy/sell fees apply and are shown when converting one asset or currency before making a transfer. See our fee schedule for details. Krak may receive a commission from EH on completed stays.

Ratings and reviews

I've really enjoyed using the app and I've accrued a fair amount of BTC rewards. I love how easy it is to transfer to my portfolio and back. However, I really dislike how the salary match is only for people who earn more than £2500 a month after tax. It's not clearly stated, and it discriminates between those of a lower economic position. I'm fine if there is a transferring threshold, e.g, an accumulation of all transfers in a month exceeding £2500 triggers the match.

I like the app overall, it's easy to use but there are times when I can not access the app, it won't load rather on wifi or Mobile data and I am not able to access my funds for a period of time. 😕 wish they fixed whatever bug that is because it's happened twice since I've had the account.

2% cashback is brilliant for the first month but after that, there's not much use unless you have £50,000 lying around to maintain the 2% rate. Given that krak is not FSCS protected, so who in their right mind would want to leave 50k in the account. It's not reasonable. Trading 212 provides 1.5% cashback with no balance requirement (albeit a £15 cap/m). Thus, I'll have to uninstall krak sadly. If your cashback eligibility rules were sensible, it'd be a 5* app.

What’s new

We’re always making sure Krak is easy, safe and secure for you to use.

This release contains various improvements and fixes.