How to Withdraw From Binance to Bank Account (2024)

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Moving funds from your crypto wallet to your bank account is one of the most common procedures users can make on the Binance platform.

At the end of the day, controlling your money is a must to ensure a good administration of your crypto assets.

If you want to withdraw fiat money from Binance, there are some important details you must get to know before getting started.

That’s why today, we will give you detailed information about the withdrawal process on the Binance exchange. Let’s proceed! Keep reading this article to get precise info about:

• How to withdraw from Binance to a bank account;
• How to control your crypto and fiat assets on Binance;
• More details about withdrawals on this platform.

3 Things You Must Know Before Withdrawing Funds from Binance

When it comes to daily trading volume, Binance is the biggest exchange of them all. If you have an account on this website, then you know how big this platform is.

So, unlike other smaller platforms, withdrawing money from Binance is a walk in the park.

Still, you must be prepared before you do it - that’s why it’s vital for you to know the following things we are about to show you.

Pro Tip: Before withdrawing money from Binance, make sure you have completed the Binance Verification Process, so you don’t have any problems with your withdrawal amount limit.

1. The Payment Method and Fiat Currency Depends on Your Location

Depending on the country you live in, there are different payment methods and network fees related to SWIFT codes and banks.

Clearly, you can deposit USD, EUR, and some of the most common fiat currencies around the world.

But, for example, if you need to withdraw 4,000 USD, then the transaction fee will vary depending on the currency you are using.

2. You Can Withdraw Crypto as Well

You can Send Bitcoin from Coinbase, and you can as well withdraw BTC and other cryptocurrencies from Binance. It works really similarly in most popular exchanges, so worry not.

You just need to select “Currency” and withdraw ETH, BTC, Binance Coin (withdraw BNB), or any other crypto you want to an external wallet address.

Then again, the network fee varies depending on if you use Binance Chain (BNB) or Binance Smart Chain (BSC), so keep an eye on this before confirming the transaction.

3. How Long Does a Withdrawal Transaction From Binance Take?

It depends on the crypto or fiat currency you set for withdrawal on the exchange.

It also depends on the payment method you choose, since the network might be congested due to lots of withdrawal transactions taking place simultaneously.

Also, withdrawals might get temporarily suspended if, for example, there’s a system upgrade on the platform or a problem in the network. In short, it can take up to 4 days.

So, take this into consideration if you want to withdraw money. That’s why it’s fundamental to check the status of the withdrawal transaction directly on your account.

How to Withdraw Funds from Binance Account to Bank Account

Before starting, make sure you already know the amount you want to withdraw and the fiat currency your bank account uses.

Also, double-check that you have the equivalent of the funds you want on your crypto wallet before going to the withdrawal page.

Read Also: It doesn’t matter which crypto exchange you use - knowing and controlling your transaction history is a must. Read our Coinbase Transaction History article to get more information about this important topic.

Step 1: Log In to Your Binance Account

First, you need to log in to your account using your email address and password.

You can do this by going to Binance’s official website. Once you log in and everything seems correct, you can now proceed.

Step 2: Go to “Fiat and Spot” Wallet

Click on “Wallet” on the top navigation bar, and a drop-down menu will appear:

Clicking on Spot Wallet will lead you to select the “Fiat and Spot” option. “Fiat and Spot” is the page that will lead you to perform a withdrawal transaction in no time.

Step 3: Select “Withdraw” on the Menu

In “Fiat and Spot,” a screen with all of your funds will appear. So, the following step here to withdraw funds is clicking on the “Withdraw” option on the top menu:

Step 4: Confirm all the Transaction Info on the Withdrawal Page

Here, a menu with several options will appear.

• In “currency,” you need to select the correct fiat coin you want to receive into your bank account;
• In “payment method,” you must type in the withdrawal address book information where you want to receive your funds;
• In “amount,” select the desired withdrawal amount that will directly go to your withdrawal address;

In case you are using any other payment methods besides bank accounts, then you will need to type in additional information.

Step 5: Complete the Security Verification

Check the data once again and then click on “Continue:”

A pop-up screen will show you all the info related to your withdrawal transaction, and you need to give confirmation to it:

Click “Confirm” for the Security verification process to start:

Binance will send you an SMS or a message to your email address with an important code. Introduce the code and click “Submit” to proceed.

Step 6: Wait for the Withdrawal Request to Finish

It’s almost ready! There’s nothing else to do other than wait.

Remember that there are some minimum withdrawal amounts and a network transaction fee that varies depending on different factors.

On top of those minimum amounts, you can’t also withdraw more than 5,000 USD or EUR per day, so consider this before starting.

Clicking on “View History” will show you the Payment ID, which is fundamental to track the process whenever you want to.

That’s how you do it! Enjoy your precious dollars or euros in your bank account. For more Binance and crypto-related blog posts, check GrowFollowing on a daily basis.

Binance Withdrawal FAQ

Can You Also Withdraw from Binance to Another Wallet Address (Crypto)?

Yes, you can. It’s almost the same procedure - select “Coin” on the menu, put in the wallet address and send the cryptos you need to an external exchange.

What is the Minimum Withdrawal on Binance?

It’s 10 USD. Then again, it depends on your location - this might vary, but it’s always close to the previously mentioned amount.