Binance Australia halted Australian dollar (AUD) deposits and withdrawals by bank transfer as announced last month, the exchange said on Thursday.
On May 18, Binance Australia said it would no longer facilitate AUD bank transfers using PayID "due to a decision made" by the third-party payment service provider. A May 22 update said the services will continue until June 1.
The latest tweet said Binance Australia users can still buy and sell crypto using credit or debit cards, and that it is "working hard to find an alternative provider."
For the past few days, bitcoin (BTC) has been trading at nearly a 20% discount on Binance’s Australia arm, compared with rival exchanges.
In April, after a request from Binance, the Australian Securities and Investments Commission (ASIC) canceled Binance Australia's derivatives license.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.