binance can't deposit usd

Binance has temporarily suspended USD deposits via SWIFT due to regulatory actions by US financial institutions, prompting users to explore alternative deposit methods.

Oct 26, 2024 at 05:18 am

Binance Temporarily Suspends USD Deposits via SWIFT

1. Suspension Announcement

On March 8, 2023,Binance announced the temporary suspension of USD deposits through the SWIFT network.

2. Reasons for Suspension

The suspension was attributed to the recent regulatory actions by traditional financial institutions in the United States. These actions have caused significant delays and declining success rates for SWIFT-based USD deposits intoBinance.

3. Affected Users

The suspension affects all Binance users who typically deposit USD via SWIFT.

4. Alternative Deposit Methods

Binance encourages affected users to explore alternative deposit methods, such as:

• Direct bank transfer (ACH/SEPA)
• Credit card/debit card
• Stablecoins
• P2P trading

5. Timeline

The suspension is expected to remain temporary, and Binance will announce the resumption of SWIFT-based USD deposits as soon as possible.

6. Impact on Users

The suspension may cause some inconvenience for users who rely heavily on SWIFT-based USD deposits. However, Binance's alternative deposit methods provide users with options to continue funding their accounts.

7. Customer Support

Binance advises affected users to contact their customer support team for assistance and any updates regarding the suspension.