How to transfer money from my binance wallet to my bank account
Many cryptocurrency traders have joined the Binance trading platform for a variety of reasons, including its low withdrawal fees. In addition to offering a straightforward way to buy and sell stocks, Binance makes it easy to withdraw fiat to your bank account. They support the withdrawal of 14 fiat currencies via several payment methods.
If you’ve sold your crypto for a fiat currency and are unsure how to withdraw the funds to a bank account, we’ll show you how using various devices. In addition, our FAQs section includes how to withdraw crypto to an external wallet.
How to Withdraw from a Binance Account on a PC
When you withdraw USD from your account to your bank using the SWIFT payment method, there are no fees. However, it may take up to four business days for the funds to reach your bank account. Follow the steps below to withdraw USD using SWIFT:
- Sign in to your Binance account via the website or desktop app.
- Select the Wallet option, then Fiat and Spot from the pull-down menu. A list of all your available fiat and crypto balances will display.
- To select the fiat currency you wish to withdraw, enter “USD” in the text field or find it in the list
- Toward the right of the “USD” option, select Withdraw.
- On the Withdraw Fiat screen, at Currency to withdraw, your balance will display. The Bank Transfer (SWIFT) option will pre-populate automatically.
- Enter an amount to withdraw or select your USD balance.
- Click Continue to create the request.
- Next, you’ll need to enter the receiving bank and account holder details.
- Verify that the details are correct on the Withdrawal Confirmation, then click Confirm.
How to Withdraw from a Binance Account on an iPhone/iPad
Withdrawing USD from your Binance account using the SWIFT methods means no fees. However, the funds may take up to four days to clear in your account. Here’s how to make a SWIFT USD withdrawal in Binance using your iPhone/iPad:
- Sign in to your account via the app.
- Tap the Wallet icon at the bottom right.
- Scroll through the currency list and select USD.
- At the bottom left corner, tap Withdraw.
- On the withdrawal screen, under Recommended, the Bank Transfer (SWIFT) option will display. The Withdrawal info section will confirm how long the transaction may take.
- Scroll down to the Enter Amount text field and tap on it to enter a specific amount or select Available to withdraw the balance and then tap Continue.
- Now enter the receiving account details. Your name will automatically populate the Receiver Name field. Hit Continue.
- A Withdrawal Confirmation pop up will display. If all the details are correct, choose Confirm.
How to Withdraw from a Binance Account on an Android
By withdrawing USD to your bank with the bank transfer SWIFT method, they’ll be no transaction fees to pay. Although you may have to wait up to four business days for the funds to clear. Follow these steps from your Android device to make a withdrawal:
- Access your Binance account.
- Press the Wallet icon at the bottom right.
- Scroll through the currency list, then tap USD to select it.
- Tap Withdraw at the bottom left corner.
- Via the withdrawal screen, beneath Recommended, the Bank Transfer (SWIFT) option should display.
- Scroll down to the Enter Amount text field to enter an amount, or select Available to withdraw the balance, then press Continue.
- Enter the receiving account details. Your name will populate as the receiver in the Receiver Name field. Then tap Continue.
- Next, check whether the information in the Withdrawal Confirmation pop up is correct, then tap Confirm.
How to Instantly Withdraw from Binance
With the “Visa Fast Funds (Visa Direct)” option enabled, you can withdraw the currency in your “FIAT and Spot” wallet to your credit or debit card. The “Instant card withdrawal” payment method option, at the time of writing, is available only in the following countries:
- Republic of Cyprus
- Czech Republic
In most cases, your withdrawal request will be processed within five minutes. However, processing can take up to 24 hours in some rare cases. With instant card withdrawal transactions, there is a charge of 1%. The minimum withdrawal amount is 10 euros or $11.14. Follow these steps to withdraw fiat instantly to your credit or debit card:
- Sign in to your Binance account and select the Wallet tab.
- Select Fiat and Spot then choose the currency you wish to withdraw.
- Choose Bank Card (Visa).
- Enter the amount of money you want to withdraw in the Amount field.
- To complete your withdrawal, select your linked card or add a new card (complete the card details, then Add card).
- Click Continue, and a Withdrawal Confirmation popup will display.
- If you’re satisfied with the details, click Confirm to confirm the withdrawal.
- A Security Verification popup will then display. To complete the process, you’ll need to complete the security verification.
- To send a six-digit verification code to your phone, choose Send SMS.
- Enter the six-digit code in the SMS Verification Code text field. If you have Google authenticator enabled, you’ll need to enter Google’s verification code in the Google verification code field.
- Now hit Submit. An Order Submitted popup will display to confirm the successful withdrawal.
How do I withdraw crypto to a wallet?
If you intend to hold on to your crypto long term. Withdrawing it to a hardware wallet such as Trezor or Ledger is one of the safest ways to store it. Here’s how to withdraw crypto from your Binance account to your wallet:
1. Navigate to Binance.com and sign in to your account.
2. Click on the Wallet option at the top of the screen and select Fiat and Spot from the drop-down menu.
3. A list of all your Fiat and Crypto balances will display. Choose the token you wish to withdraw by clicking Withdraw beside it.
4. You’ll be prompted to enter the withdrawal Address on the crypto withdrawal page.
5. Copy the Receive address from the external wallet and paste it into the Receive text field or scan the QR code.
6. Enter the amount you want to withdraw, or to withdraw the available balance, click on Max. The minimal withdrawal amount will display in the Amount field.
7. The withdrawal fees and the total amount you’ll receive will display in a popup.
8. Once you’re satisfied, hit the Submit button. Subject to your two-factor authentication method, to complete the withdrawal, you may be prompted to complete security verification.
All your withdrawals will be shown under Recent Withdrawal History.
SWIFT Fiat Withdrawals
Binance accommodates for fiat withdrawals for any amount available in your account via different payment methods. To withdraw money from your account to a bank account, you can choose either the Bank Transfer SWIFT method or Instant card withdrawal. With SWIFT, there are no transaction fees, but you’ll need to allow up to four working days for the funds to clear.
To get around this, where possible, make the withdrawal in advance of the time you’ll need it. On the other hand, the Instant card withdrawal method instantly transfers your money to a credit or debit card. This typically takes five minutes, but fees apply.
What do you think about the Binance platform? Is this the first crypto exchange platform you’ve used? If not, how does it compare to the ones you’ve used before? Share your thoughts in the comments section below.
At a Glance: To withdraw from Binance, a user must login and click “Withdraw.” Under the “Crypto” tab, they can then choose the network and desired currency then click “”Receive.”” After a 2FA code is entered, the transaction will be complete.
Binance is a platform that many people have started using in the past years. Still, if you’re new to this platform, withdrawing from Binance may be difficult in the beginning. Learning how to withdraw from Binance is necessary if you intend to use the service on a regular basis. But don’t worry, we’ve got you covered. Read on to find out more info on the matter.
What Is Binance?
Binance is a platform for cryptocurrency exchange and one that allows people to trade a large variety of cryptocurrencies. In fact, it is the largest exchange platform on the planet when it comes to its daily trading volume. Founded by Changpeng Zhao in 2017, Binance allows trading with currencies and virtual tokens such as Ether, Dogecoin, Litecoin, and Bitcoin. It also allows operations with its own token, respectively Binance Coin.
Because China’s crypto exchange business regulations are very strict, Binance had to move its headquarters to Malta, EU.
People will have to complete the KYC requirements in order to start trading with it. Once the account creation is successful, people can add their cryptocurrency amount to the public wallet address. This way, they can start trading.
How to Withdraw Crypto from Binance
It is possible to withdraw funds from your Binance account. But in order to make that possible, you will have to go through a specific withdrawal process. It’s not hard, but following every step is necessary if you want everything to go smoothly. After all, the last thing you want is to make a mistake and possibly lose your funds as a result. Here are the steps you should go through:
- Log In to Your Account
- Choose “Withdraw”
- Click on the Crypto Tab
- Select the Right Network
- Choose the Desired Currency
- Chose “Receive”
- Copy and Paste the Current Address
- Choose “Send Code”
- Enter the 2FA Code
Each of these steps is discussed in more detail below.
Log In to Your Account
First things first, you need to ensure that you are logged into your Binance account. After logging in, you have to go to Wallet and then click on Fiat and Spot.
Click on Withdraw after reaching the page.
Click on the Crypto Tab
After selecting the Crypto tag, you will be asked to select the cryptocurrency you wish to withdraw.
Select the Right Network
Some currencies are issued on various platforms. In this case, you will have to select the one you want to make the withdrawal on.
Choose a Currency
In the Trust Wallet, tap on the desired currency for withdrawal.
Tap on the Receive option when prompted.
Copy and Paste the Current Address
Copy the currency address when prompted. Go to the withdrawal page of Binance and paste the address you just selected. Click on Submit if everything looks good.
Choose “Send Code”
Click on Send Code, after which you have to enter a six-digit code that was sent to your email.
Enter the 2FA Code
Enter the 2FA code, then click on Submit if everything else is okay. It will be possible to see the withdrawals in your Transaction history afterward.
How to Withdraw Fiat Currency from Binance
Over 60 fiat currencies are supported by Binance, and there are also various payment methods available. So, it is important to know how to withdraw fiat currency from your Binance account. Here are the steps you will have to go through:
- Log into your account
- Select Withdraw
- Click on the Fiat tab
- Pick the fiat currency
- Enter the details that the page requires
- Check the transaction details
- Enter your verification code
Below, we’ll take a look at each of these steps in detail.
Log Into Your Account
Just like when withdrawing crypto from your Binance account, you first need to log into Binance to withdraw fiat.
Click on Withdraw after reaching the page.
Click on the Fiat Tab
Click on the tab labeled “Fiat”.
Pick the Fiat Currency
Next, choose the that you fiat currency want to withdraw and choose a payment method. Be aware that the payment methods available will depend on your region, as well as your selected currency.
Enter the Withdrawal Info
Next, fill in the Withdrawal info, including the amount to be transferred and your bank account information (or that info of the recipient).
Then, click “Continue”.
Check the Transaction Details
Check the transaction details to make sure that it is all correct. If it is, click “Confirm”.
Enter Your Verification Code
Next, you will be prompted with a security verification. Enter your mobile phone number and click “Send SMS”. You will receive a text message with a Google verification code. Enter the code in the second field, then click “Submit”.
If the correct verification code was entered, you will receive a message say confirming that your order has been submitted.
Binance Withdrawal Fees
Since you are doing a network transaction when withdrawing crypto from your account with Binance, you will deal with some fees. The fees are meant to cover the network transaction cost. Certain currencies, such as Ether or BNB, need Binance to be able to be sent to another crypto wallet.
Therefore, there will be a gas fee when you do any transaction on Binance Chain, Binance Smart Chain, or Ethereum. The fee is paid to miners. The cost of the transaction fee will be passed on to the user by Binance.
Keep in mind that there are different fee schedules for every blockchain. Because of that, the fees for crypto withdrawals will depend on the particular coin that you are using. Also, it is likely for fees to change, as they are dynamic and depend a lot on the network activity. You will have to go to the actual withdrawal page in order to find the accurate withdrawal fees.
Minimum Withdrawal Amount
There is a minimum withdrawal amount for Binance. Every cryptocurrency has its own withdrawal amount. That being said, you will be unable to withdraw a smaller amount than the one stated on the withdrawal page.
If you want to find out the minimum amounts of every currency, you can check them out on the Binance website. There is a list of every minimum amount and the respective withdrawal fee.
How Long Does It Take to Withdraw from Binance?
Withdrawing from Binance may take a bit. This isn’t because Binance is slow or anything. In fact, the platform will deal with the processing of the withdrawal as soon as you make the request. However, every blockchain is different, so the amount of time required for completing the transactions may vary.
For example, Binance Smart Chain may complete transactions in only a few minutes. Bitcoin, on the other hand, will take from about 10 minutes to 30 minutes to be able to mark a withdrawal as successful. Ethereum may take even longer than these two.
So, it really depends on the blockchain. Also, if a network has very high traffic, this will affect the amount of time you have to wait. The higher the traffic, the more your waiting time expands.
Sometimes, withdrawals may end up being stuck in processing, and that is because the blockchain has to confirm the transaction first. In other situations, it may be congested.
There are specific blockchains that require more network confirmations compared to others. So, during heavy traffic periods, you can expect the transactions to take longer than usual.
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