how to link binance with bank account

Linking your bank account to Binance empowers you to effortlessly deposit and withdraw fiat currency, fueling your cryptocurrency trading endeavors.

Nov 27, 2024 at 09:15 am

How to Link Binance with Bank Account: A Step-by-Step Guide

Introduction:

Linking your bank account to Binance, a renowned cryptocurrency exchange, enables seamless deposits and withdrawals of fiat currency. It simplifies funding your Binance account for cryptocurrency trading and facilitates easy access to your funds when needed. This comprehensive guide will guide you through the steps involved in linking your bank account to Binance, ensuring a smooth and secure process.

Prerequisites:

• Active Binance account
• Government-issued identification document (e.g., passport, ID card)
• Bank account details (account number, bank name, IBAN, etc.)

Step 1: Verify Your Identity

• Log in to your Binance account and navigate to the "Profile" section.
• Select "Verification" and proceed with the verification process.
• Provide the requested personal information, including government-issued identification documents.
• Follow the on-screen instructions to complete the identity verification process.

Step 2: Enable Fiat Deposits

• Once your identity is verified, access the "Fiat and Spot" menu and select "Deposit."
• Choose your preferred fiat currency from the available options.
• Click on "Bank Deposit" and select the "Add a New Bank Account" option.

Step 3: Add Bank Account Details

• Provide your bank account number, bank name, IBAN (if applicable), and any other necessary details.
• Ensure all information entered is accurate and matches your bank account details.
• Click "Continue" to proceed.

Step 4: Bank Verification

• Binance will initiate a small deposit of a few cents into your bank account.
• You will be required to provide the amount deposited as a verification code.
• This ensures that the bank account belongs to you.

Step 5: Enable Withdrawals

• Once your bank account is verified, return to the "Fiat and Spot" menu and select "Wallet."
• Click on "Overview" and then "Fiat Withdrawals."
• Select the bank account you wish to withdraw from and enable withdrawals.
• Set up a withdrawal PIN or enable 2FA for enhanced security.

Step 6: Initiate a Deposit or Withdrawal

• To deposit funds, navigate to the "Deposit" section and select "Bank Deposit."
• To withdraw funds, go to the "Fiat and Spot" menu and select "Withdraw."
• Choose the desired bank account, enter the amount, and follow the on-screen instructions.
• The processing time for deposits and withdrawals may vary depending on your bank and the amount being transferred.

Additional Tips:

• Ensure that your bank account is in good standing and has sufficient funds.
• Keep your Binance account secure by enabling 2FA and using a strong password.
• Be aware of any fees associated with deposits and withdrawals.
• Monitor your transaction history regularly to track your funds.