Withdrawing money from Binance to your bank account is easy for most countries.
The exchange supports over 60 fiat currencies and different payment methods.
Fiat currencies include USD, EUR, AUD, JPY, CAD and many more.
Payment methods depend on your country or region.
In most countries and regions, you will be able to use the “Instant Card Withdrawals” payment method.
The “Instant Card Withdrawals” method allows you to instantly withdraw money from your fiat wallets to your debit or credit card.
You can do this as long as you have enabled “Visa Fast Funds (Visa Direct)”.
If you don’t have a Binance account, you can create one using this referral link: https://www.binance.com/en/register?ref=73583477.
In this guide, you’ll learn how to withdraw money from Binance to your bank account and how long it takes.
Table of Contents:
How to withdraw money from Binance to your bank account
To withdraw money from Binance to your bank account, you need to go to your fiat and spot wallet.
Then, click withdraw, select your currency, payment method, and withdrawal information.
Finally, add a card, complete the security verification and wait for the withdrawal to complete.
For instant card withdrawals, the withdrawal will be processed in 5 minutes.
For other payment methods such as SWIFT, it can take 1 to 4 business days.
It can take longer due to network congestion.
However, if there is a system update going on, you will not be able to make withdrawals on the exchange.
This is because withdrawals will be temporarily suspended when there is a system update.
You can follow @BinanceHelpDesk on Twitter to stay up to date on system updates.
Here are 6 steps to withdraw money from Binance to your bank account:
1. Go to your fiat and spot wallet
The first step is to navigate to your fiat and locate your wallet on Binance.
First, go to binance.com and log in to your account.
You can also use the Binance mobile app for this.
For the purposes of this guide, we will use the desktop version of Binance instead.
Once you have on Binance, click “Wallet” on the top navigation bar.
This will open a navigation drawer containing several options.
Options include “Overview”, “Fiat and Spot”, “Margin” and others.
Click on “Fiat and Spot” to go to your fiat and spot wallet.
2. Click on “Withdrawal”
After clicking on “Fiat and Spot”, you will land on your fiat and spot wallet.
Now, you need to access the withdrawal page.
Next to the “Fiat and Spot” header, you will see a “Withdraw” button.
Click on “Withdrawal” to go to the Binance withdrawal page.
Keep in mind that if you don’t have a fiat currency, you won’t be able to withdraw money to your bank account.
If you don’t have a fiat currency, you must first sell your cryptocurrencies on Binance.
3. Select currency, payment method and withdrawal information
After clicking “Withdraw”, you will land on Binance’s withdrawal page.
Now you need to select the currency, payment method and withdrawal information.
In this guide, we will use the payment method “Bank Card” (also known as instant card withdrawal).
If this is your first time making a withdrawal, you need to add a new card.
To add a new card:
- Select the currency you wish to withdraw in the “Currency” field (e.g. EUR).
- Select the payment method you want to use (in this guide, we will use the payment method “Bank Card”).
- Enter the amount of money you wish to withdraw in the “Amount” field (e.g. 100 EUR).
- Click on “Add new card” to add a new card.
Keep in mind that there is a minimum and maximum withdrawal.
For EUR, you can only withdraw 10-5,000 EUR to your bank account.
After clicking “Add New Card”, proceed to the next step to learn how to add a new card.
4. Enter your card details
After clicking “Add New Card”, the “Pay by Card” pop-up will open.
The “name” field must be populated automatically.
Now you need to enter your debit or credit card information.
First, enter your card number in the “Card number” field.
Then, enter the expiration date of your card in the “Expiration Date” field.
Finally, enter the security code of your card (the three numbers on the back of your card) in the “Security code” field.
Once you’re done entering your card details, click “Add Card” to add your card.
5. Complete security verification
After adding a valid debit or credit card, you will be able to make the withdrawal.
Keep in mind that there will be a transaction fee.
You can view the transaction fee in the “Amount” field.
For “Instant Card Withdrawals”, there will be a 1% fee.
Click on “Continue” to proceed with the withdrawal.
After clicking “Continue”, the “Withdrawal Confirmation” pop-up will open.
In the pop-up, you will see the withdrawal information.
This includes where the money will go, the commission, the withdrawal amount, and when your funds will arrive.
Click on “Confirm” to confirm the withdrawal.
After confirming the withdrawal, the “Security Verification” pop-up will open.
To complete the withdrawal process, you must complete the security verification.
First, click “Send SMS” to send a 6-digit code to your phone number.
Then, enter the 6-digit code in the “SMS verification code” field.
If you’ve enabled the google authenticator, you’ll also need to enter the 6-digit Google verification code.
Enter the 6-digit Google verification code in the “Google verification code” field.
Finally, click “Submit” to send the security verification.
6. Wait for the withdrawal to complete
After submitting the security verification, the “Order sent” pop-up will open.
This means that you have successfully submitted a withdrawal request!
For instant card withdrawals, the withdrawal will be processed in 5 minutes.
For other payment methods such as SWIFT, it can take 1 to 4 business days for your money to arrive in your bank account.
However, if network congestion occurs, it may take longer to complete.
You can check the status of your order by clicking on “View History”.
Alternatively, you can click “Transaction History” in the left sidebar of your fiat and spot wallet.
Conclusion
Before you can withdraw money from Binance, you need to sell your cryptocurrencies.
You can sell your cryptocurrencies using this link: https://www.binance.com/en/buy-sell-crypto?type=SELL.
Be sure to sell the cryptocurrency in exchange for your country’s currency.
For example, if you live in the United States, you need to sell the cryptocurrency in USD.
Then, you will be able to withdraw it to your bank account.
