Binance ranks among the largest cryptocurrency exchanges globally by trading volume. As a user, you have access to a wide range of products and services within the evolving crypto economy, including spot and futures trading, staking, lending, borrowing, donations, and asset holding.
Binance offers extensive opportunities to grow digital assets. Eventually, users may need to withdraw funds—whether for profit realization, transferring to another exchange, or moving assets to a private wallet or bank account.
Withdrawals from Binance can involve either fiat or cryptocurrency. The process may vary slightly based on the user’s region but typically includes entering the withdrawal amount, confirming the transaction, and completing a two-step authentication. Most fiat withdrawals are processed within 30 minutes, though transaction fees and regional restrictions apply.
This guide outlines the exact steps to withdraw fiat currency from Binance directly into a bank account.
Withdraw Fiat From Binance to a Bank Account
Binance supports over 60 fiat currencies, including USD, EUR, GBP, INR, JPY, and AUD. Below is a detailed process for efficiently withdrawing fiat funds.
Step 1: Navigate to ‘Fiat and Spot’
Log in to your Binance account. Hover over the ‘Wallet‘ option located in the top right corner of the homepage. From the dropdown menu, select ‘Fiat and Spot‘.
Alternatively, click on ‘Wallet,’ then choose ‘Overview.’ This page displays your balances across all Binance products, including Margin, Futures, Earn, and P2P. From here, access the ‘Fiat and Spot’ section.
Step 2: Access the Withdrawal Page
Once on the ‘Fiat and Spot‘ page, there are three ways to initiate a fiat withdrawal:
- Click the ‘Withdraw‘ button located below the main navigation bar.
- Scroll down to the specific currency and click its corresponding ‘Withdraw‘ button.
- From the ‘Overview‘ page, select ‘Withdraw’ to begin the process.
By default, Binance may direct you to the cryptocurrency withdrawal section. If so, click ‘Withdraw Fiat‘ at the top of the page to switch to fiat withdrawal.
Step 3: Select Currency and Payment Method
Choose the desired fiat currency from the dropdown list. Binance supports multiple payment methods, which may vary depending on your location.
Supported Payment Methods:
- Credit/Debit Cards
- Bank Transfers (e.g., SEPA, Faster Payments)
- Cash Transfers
Enter the withdrawal amount on the right-hand side of the screen and click ‘Continue.’ Based on the selected payment method, Binance will prompt you to enter your account details. Complete the required fields and proceed.
Step 4: Confirm the Transaction
A summary screen will appear showing your withdrawal amount, chosen payment method, estimated processing time, and applicable fees. Review the information carefully.
Click ‘Confirm‘ to proceed. Binance will initiate a security verification via two-factor authentication (2FA). Enter the required verification code to complete the transaction.
Once verified, your fiat withdrawal request will be processed.
Frequently Asked Questions (FAQs)
How do I withdraw funds from Binance to my bank account?
Log in to Binance, go to Wallet > Fiat and Spot > Withdraw, select your currency, choose your bank transfer method, and follow on-screen instructions.
What are the fees for withdrawing money from Binance to a bank account?
Withdrawal fees vary by currency and method. Binance displays applicable fees before confirming each transaction, ensuring transparency.
How long does a Binance bank withdrawal take?
Processing time depends on the selected withdrawal method. Bank transfers typically take 1–5 business days, though some may complete within hours.
Which bank transfer methods are supported by Binance?
Supported methods include SEPA, SWIFT, and local bank transfers, depending on your region and the fiat currency being withdrawn.
Can I withdraw from Binance to any bank account?
Binance requires the bank account to be in your name. Third-party or mismatched accounts may result in failed transactions.
Is KYC veri I do if my Binance withdrawal to a bank account fails?
Check for input errors, confirm bank compatibility, and ensure sufficient balance. Contact Binance support if the issue persists.
Conclusion
Withdrawing fiat funds from Binance is quick and straightforward, typically taking less than five minutes. Accuracy is crucial, especially when handling large amounts or withdrawing crypto assets, as errors may lead to irreversible loss of funds. Always double-check recipient details before confirming a withdrawal.
This step-by-step guide ensures that users can safely and efficiently transfer money from Binance to a bank account while minimizing risks.
