How long does it take for binance to process a withdrawal

Instant card withdrawals allow Binance users to instantly withdraw money from their fiat wallets directly to their credit and debit cards – as long as they have Visa Fast Funds (Visa Direct) enabled.

*Visa Fast Funds (Visa Direct) is a card function that allows transactions to be processed in real-time.

How to withdraw with Instant Card ?

How does it work?

There are only a few steps to instantly withdraw your fiat currencies in these countries:

United Kingdom, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Russia.

First, make sure you have currencies like Euro in your [Fiat and Spot] wallet.

  • Under [Wallet], click [Withdraw] [Fiat], select the currency you want to withdraw, then select [Bank Card(Visa)]. You can see [Instant to your card] shown on your selected card, which indicates that the Visa Direct feature is enabled.

  • Choose your linked card or add a new card to complete your withdrawal.

If you are using the mobile app, you can withdraw by tapping [Wallets] [Withdraw] [Cash]. Then follow the same steps to complete your withdrawal.

Please note: if you don’t have any cards linked to your Binance account, you can add the cards which enable the features of Visa Fast Funds(Visa Direct).

Am I eligible?

In order to be eligible for instant card withdrawals, you must:

  • Have a verified and linked credit/debit card on Binance that has the

    Visa Fast Funds (Visa Direct) feature

    enabled.

How long do instant card withdrawals take?

In most cases, your withdrawal request will be processed within 5 minutes. However, processing can take up to 24 hours in some rare cases.

Do instant card withdrawals work for all cards?

No, not all card providers support instant card withdrawals. If you don’t see your card listed as an option, this means your card does not support this function. Card eligibility requirements are created by your bank or card provider — please contact them for more information about enabling Visa Fast Funds (Visa Direct).

Are there fees or minimums?

Instant card withdrawal transactions charge a fee of

1%

. The minimum withdrawal amount is 10 EUR.

Can I sell crypto directly to my card with an instant card withdrawal?

Yes, with the new Sell to Card function, you can now directly sell crypto to your selected debit or credit card. Find out more about how to directly sell crypto to your card

What should I do if my Binance withdrawal has not arrived?

TL;DR

The process to withdraw your funds on Binance depends on the cryptocurrency or fiat currency you want to move. Some crypto can be withdrawn to multiple, different blockchains, so take care to select the right one.

The time it takes to withdraw funds differs on the method you’re using. For crypto withdrawals, each blockchain will require a certain amount of confirmations before it shows up in your wallet. You can check the status of your transaction by using the respective blockchain explorer.

Occasionally, Binance might suspend withdrawals due to technical upgrades. Binance will inform you if this is the case. If your withdrawal is still taking too long after checking all the possible reasons, you can get in touch with Binance’s customer support

Introduction

If you want to transfer funds out of your Binance account, you’ll need to go through the withdrawal process. The process will change depending on the blockchain, cryptocurrency, or fiat that you want to withdraw. Overall, it’s very simple, but you should be careful to follow each step closely to make sure you don’t accidentally lose your funds.

How to withdraw cryptocurrency from Binance

In this example, we will be withdrawing BNB to Trust Wallet and going through it step-by-step.

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Withdraw].

3. Select the [Crypto] tab and choose the cryptocurrency you’d like to withdraw.

4. If the cryptocurrency is issued on multiple networks, select which one you’d like to make your withdrawal on.

For example, BNB is issued on Binance Beacon Chain (former Binance Chain) as a BEP-2 token and on BNB Smart Chain (former Binance Smart Chain , BSC) as a BEP-20 token. As such, if you’d like to withdraw to a BEP-2 wallet address, choose the BEP-2 option. Be extra careful with this step. If you withdraw to the wrong address, you might lose your crypto assets.

5. Tap on BNB in your Trust Wallet.

6. Tap on [Receive].

7. Copy your BNB address.

8. Paste it in [Recipient’s BNB Address] on the Binance withdrawal page. If everything looks good, click on [Submit].

9. Click on [Send Code], and enter the six-digit code you received in your email.

10. Enter your 2FA code. If everything is in order, click [Submit]. You’ll be able to see your outgoing withdrawals in your Transaction history

How to withdraw fiat currency from Binance

Binance supports more than 60 fiat currencies and multiple different payment methods.

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Withdraw].

3. Select the [Fiat] tab.

4. Select the fiat currency you’d like to withdraw and the payment method. The payment method options are based on your selected currency and region.

5. Enter the required details and follow the instructions.

6. And enter your verification code to confirm the withdrawal.

What are crypto withdrawal fees?

Withdrawing crypto from your Binance account incurs fees to cover the cost of network transactions . For example, removing BNB or Ether (ETH) requires Binance to send the crypto to a different crypto wallet on the blockchain.

In other words, any transaction on BNB Smart Chain (former Binance Smart Chain ), BNB Beacon Chain (Binance Chain), or Ethereum requires a gas fee that the user must pay to miners. Binance passes on the cost of this transaction fee to the user.

Each blockchain has its own fee schedule, so your crypto withdrawal fees will vary from coin to coin. Fees are also dynamic and change depending on network activity. The best and most accurate way to check withdrawal fees is to go to the withdrawal page itself.

What’s the minimum withdrawal amount on Binance?

Each cryptocurrency has a minimum withdrawal amount. You cannot withdraw less than the stated amount on the withdrawal page. You can see a list of all the minimum amounts and withdrawal fees on our Deposit & Withdrawal Fees

How long does a withdrawal take on Binance?

Binance will process your withdrawal as soon as requested, but each blockchain takes different amounts of time to confirm your transaction. Bitcoin (BTC) can take on average anywhere from around ten to 30 minutes to successfully confirm a withdrawal. BNB Smart Chain withdrawals often take just a few minutes, whereas Ethereum can take slightly longer. The more congested a network is with traffic, the longer you will have to wait.

Why is my Binance withdrawal stuck processing?

Your transaction might be stuck because the blockchain still needs to confirm your transaction or is congested. As we mentioned before, some blockchains need more network confirmations than others. In periods of heavy traffic, the transactions may take much longer than expected.

Why can’t I withdraw from Binance?

There are a few possible reasons why you can’t withdraw from Binance. First, if you have recently changed your password or disabled your SMS/Google authentication, Binance will suspend withdrawals for 24 hours. If you do a complete reset of your SMS/Google authentication, Binance will suspend withdrawals for 48 hours.

If Binance detects any abnormal activity in your account, the withdrawal function will again be temporarily suspended. This stoppage is to protect your account and funds. Also, occasionally Binance works on system upgrades which require stopping withdrawals until the update is complete.

What should I do if my Binance withdrawal has not arrived?

If you have checked that the blockchain is not congested and your withdrawal still hasn’t arrived, contact Binance’s support team for more assistance. If you’re attempting to withdraw fiat to your bank, this can take multiple days.

Closing thoughts

Withdrawing your crypto from Binance is a simple process that typically goes without problems. Whether you want to take out fiat or move crypto, all the information you’ll need is displayed on the withdrawal page. If you are having trouble, check your emails to see if Binance has possibly suspended withdrawals. You can also look at a blockchain explorer to check network congestion. Overall, patience is key here. More often than not, all problems are temporary. But if you still are struggling, then Binance’s support team will be happy to assist.

1. I’ve made a withdrawal from Binance to another exchange/wallet, but I haven’t received my funds yet. Why?

Transferring funds from your Binance account to another exchange or wallet involves three steps:

  • Withdrawal request on Binance

  • Blockchain network confirmation

  • Deposit on the corresponding platform

Typically, a

TxID (Transaction ID)

will be generated within 30-60 minutes, indicating that Binance has successfully broadcasted the withdrawal transaction.

However, it might still take some time for that particular transaction to be confirmed and even longer for the funds to be credited into the destination wallet. The amount of required “network confirmations” varies for different blockchains.

For example:

  • Alice decides to withdraw 2 BTC from Binance to her personal wallet. After she confirms the request, she needs to wait until Binance creates and broadcasts the transaction.

  • As soon as the transaction is created, Alice will be able to see the TxID on her Binance wallet page. At this point, the transaction will be pending (unconfirmed) and the 2 BTC will be frozen temporarily.

  • After the transaction is confirmed by the network, Alice will receive the BTC in her personal wallet after 2 network confirmations.

  • In this example, she had to wait for 2 network confirmations until the deposit showed up in her wallet, but the required amount of confirmations varies depending on the wallet or exchange.

Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID to look up the status of the transfer of your assets using a

blockchain explorer

.

Note:

  • If the blockchain explorer shows that the transaction is unconfirmed, please wait for the confirmation process to be completed. This varies depending on the blockchain network.

  • If the blockchain explorer shows that the transaction is already confirmed, it means that your funds have been sent out successfully and we are unable to provide any further assistance on this matter. You will need to contact the owner/support team of the destination address to seek further help.

  • If the TxID has not been generated 6 hours after clicking the confirmation button from the e-mail message, please contact our

    Customer Support

    for assistance and attach the withdrawal history screenshot of the relevant transaction. Please make sure you have provided the above detailed information so the Customer Service agent can assist you in a timely manner.

2. How do I check the transaction status on the blockchain?

Log in to your Binance account and click [Wallet] [Overview][Transaction History] to view your cryptocurrency withdrawal record.

If the [Status] shows that the transaction is “Processing”, please wait for the confirmation process to be completed.

If the [Status] shows that the transaction is “Completed”, you can click on the [TxID] to check the transaction details.

Please make sure that the receiving platform/wallet supports the token you are withdrawing and the network you are using. If you are unsure, please check with the receiving platform/wallet before making a withdrawal, or your assets might be lost and cannot be recovered.

Written by Jane