Crypto Exchange Binance to Suspend US Dollar Bank Transfers This Week

USD bank transfers comprise only a tiny bit of monthly active users, the exchange said.

AccessTimeIconFeb 6, 2023 at 5:02 p.m. UTC
Updated May 9, 2023 at 4:07 a.m. UTC
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Crypto exchange Binance is temporarily suspending U.S. dollar bank transfers starting on Wednesday, the company confirmed to CoinDesk on Monday.

"We are temporarily suspending USD bank transfers as of February 8th," a Binance spokesperson said, noting just 0.01% of monthly active users use USD bank transfers. "Affected customers are being notified directly."

"In the interim, all other methods of buying and selling crypto remain unaffected, including bank transfer using one of the other fiat currencies supported by Binance (including euros), buying and selling crypto via credit card, debit card, Google Pay and Apple Pay and via our Binance P2P marketplace," the spokesperson added.

Binance's U.S. division, Binance.US, is not affected by the suspension, according to a tweet from Binance.US Customer Support.

UPDATE (Feb. 6, 19:44 UTC): Added that Binance.US was not affected.



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Helene Braun

Helene is a New York-based news reporter at CoinDesk, currently covering the criminal trial of infamous crypto mogul Sam Bankman-Fried. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News and Nasdaq TradeTalks. She holds BTC and ETH.


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