• Binance has fully reintroduced euro and pound bank transfers

  • Binance announced that it has completely resumed bank transfers for account users in Europe, eight months after stopping the service due to regulatory pressure.

    Binance’s European users, with the exception of those in Switzerland and the Netherlands, now have access to both euro and British pound deposits and withdrawals via the Single Euro Payment Area (SEPA) and Faster Payment Services (FPS) rails, according to an announcement made today.

    SEPA and FPS allow consumers in Europe to transfer euros and pounds using their bank accounts. Binance announced that new deposits and withdrawals would be made through a cooperation with the UK payments business Paysafe.

    Binance also stated that it intends to expand SEPA bank transfers to corporate clients, as the service is now only available to retail customers. In preparation for Monday’s full-service debut, the exchange initially tested SEPA bank transfers in January.

    To pay transaction fees, bank transfers must be at least 3 EUR or 3 GBP, according to the company’s notice.

    The announcement marks Binance’s return of fiat on-ramp access in Europe following the regulatory problems that plagued the exchange’s operations last year.

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