| How to Withdraw from Binance Without Verification
How to Withdraw Money from Binance to Your Bank Account Without P2P
Withdrawing funds from Binance directly to your bank account is a straightforward process for those who prefer speed and efficiency over P2P trading. In this guide, we’ll walk you through the steps necessary to perform a direct withdrawal, discuss available methods based on your location, and provide tips for a smoother transaction.
Important Considerations
Before diving into the withdrawal process, it’s crucial to understand that not all countries permit direct fiat withdrawals from Binance. Always check if your country supports these functions through Binance’s official channels.
Supported Withdrawal Methods
Binance offers a variety of direct withdrawal methods, including:
- Bank Transfers (SEPA or SWIFT): Depending on your region.
- Instant Card Withdrawals: Options like Visa Direct or Mastercard Send.
- Third-Party Payment Providers: Services like Etana, Custody, or Simplex for USD withdrawals.
Verifying Your Account
Ensure that your Binance account is fully verified (KYC completed), as withdrawal options will not appear for unverified accounts.
Supported Fiat Currencies
Binance supports multiple fiat currencies for withdrawals, including:
- Euros (EUR)
- British Pounds (GBP)
- Australian Dollars (AUD)
- Brazilian Real (BRL)
- Turkish Lira (TRY)
- US Dollars (USD) in specific cases
Step-by-Step Withdrawal Process
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Log In to Your Binance Account: Begin by accessing your account on the Binance website.
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Check Your Wallet: Make sure your funds are in your Funding Wallet or Spot Wallet—assets in the Earn, Margin, or Futures accounts won’t be eligible for withdrawal. Navigate to the Wallet section and select ‘Overview.’
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Transfer Funds if Necessary: If your assets are in another wallet, use the ‘Transfer’ button to move them to your Spot Wallet.
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Initiate the Withdrawal:
- Once in the Spot Wallet, locate the ‘Withdraw’ button.
- Select the fiat option instead of crypto.
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Choose Your Currency: If your country allows, choose your fiat currency (e.g., Euro) and then select your withdrawal method.
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Enter Bank Details: Provide your IBAN or account number, the name associated with your Binance account, and your bank’s name and address if required.
- Complete the Withdrawal: Review the associated fees and expected processing time, then confirm the withdrawal.
Fees and Processing Times
- SEPA Transfers: Typically low fees (around €1 or less) with a processing time of 1-2 business days.
- SWIFT Transfers: Fees can range from $15 to $30, depending on your bank, with longer processing times.
- Instant Card Withdrawals: Generally incur a 1% fee, with funds available within a few hours.
Common Issues and How to Avoid Them
- Withdrawal Rejected: Ensure your bank account name matches the name on your Binance account.
- No Withdrawal Options: Check if your account is fully verified or if your country allows direct withdrawals.
- High SWIFT Fees: Consider withdrawing smaller amounts or using banks with more competitive international wire rates.
Alternatives to Consider
If direct withdrawals aren’t available in your region:
- Convert cryptocurrencies to stablecoins (like USDT) and transfer them to a platform like Kraken or Coinbase, where bank withdrawals are more accessible.
- Use third-party fiat providers available on Binance like Etana or Simplex.
- Utilize the Binance card to spend crypto directly rather than withdrawing.
Final Thoughts
To successfully withdraw money from Binance to your bank account without using P2P, ensure your funds reside in the Spot Wallet and that your account is fully verified. This method is both fast and secure if you plan accordingly. Always verify supported currencies and methods for your specific country to avoid delays.
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