How to Withdraw EUR from Binance via SEPA Bank Transfer? | Binance Support (2024)

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How to Withdraw EUR from Binance via SEPA Bank Transfer? | Binance Support? ›

Binance partnered with the London-based payments company to resume Single Euro Payments Area bank transfers for customers in January 2022 after temporarily suspending SEPA transfers in 2021 due to “events beyond our control.” Paysafe previously ended GBP support for the exchange in May.

Binance partnered with the London-based payments company to resume Single Euro Payments Area bank transfers for customers in January 2022 after temporarily suspending SEPA transfers in 2021 due to “events beyond our control.” Paysafe previously ended GBP support for the exchange in May.

Deposit and Withdraw EUR and GBP via SEPA and Faster Payments Service (FPS) You can now deposit and withdraw EUR and GBP via the SEPA payment network (SEPA) and Faster Payments Service (FPS) from the Binance website and App. Please note that SEPA and FPS only support deposit and withdrawal from personal accounts.

Easy way to pay, simply enter the beneficiaries International Bank Account Number (IBAN) and Branch Identifier Code (BIC), these details are provided the beneficiary. Make & Receive SEPA payments from your £ UK business account,when using a GBP account, the currency is automatically converted into Euro for you*.

The average time it takes to transfer euros from Binance to a local bank account can vary between a few minutes to up to 7 business days. However, most transfers are completed within 1-3 business days if you're using a SEPA transfer (Single Euro Payments Area).

Binance's customer support channel on Twitter stated that SEPA transfers for EUR are currently on hold. However, the team assured users that the service will remain accessible until September 25, 2023. “We regret to inform you that we have temporarily suspended EUR withdrawals and deposits via SEPA.

The move was in response to a statement from the Federal Deposit Insurance Corporation that crypto-sector banking should be considered a high-risk activity. The post Binance Announces Temporary Suspension of USD Bank Transfers appeared first on CryptoPotato.

Occasionally, we may need to lock your account if you have made recent changes to it. For example, if you have reached out to our team to reset your two-factor authentication, or you have changed your password, we will temporarily disable your ability to withdraw.

In the case of account suspensions, you may see your Binance withdrawals suspended - whether due to policy violations, failing verification, or suspicious activity on the account.

Open banking lets you move funds from one bank account to another without using a card or a third-party payment network. It's easier than traditional bank transfers and more secure than card payments. You can make an open banking payment from the Binance website and app.

Why can't I deposit EUR in Binance? ›

Here's When Binance Users Have to Provide New Banking Details for EUR Deposits. In an email to its users, Binance has revealed that the platform's EUR fiat payments partner, Paysafe, will stop offering SEPA deposits to Binance users. According to the email, the change will take place on September 25th, 2023.

There will be no option for cashing out in US currency. To withdraw dollars, users must first convert their funds to another digital asset or stablecoin.

As for the withdrawal of your funds, the same time frame applies, once you withdraw your funds to your verified bank account it might take 1-3 business/working days. However, they are mostly processed within 24 hours or even on the same day.

The Single Euro Payments Area (SEPA) is a mechanism that facilitates the standardisation of electronic payments denominated in euro across Europe. Under SEPA, all bank accounts must be identified by an International Bank Account Number (IBAN) and a Bank Identifier Code (BIC).

SEPA is a European payment method using euros that requires furnishing the bank and bank account information using the payer and payee's identifier code known as IBAN (International Bank Account Number) for an electronic transaction. Is an IBAN Number Necessary to Send a SEPA Payment?