Transferring funds from a cryptocurrency exchange like Binance to your personal bank account is a crucial step for users looking to convert digital assets into usable fiat currency. Whether you're cashing out profits, managing personal finances, or preparing for real-world expenses, understanding the withdrawal process ensures efficiency, security, and cost-effectiveness. This comprehensive guide walks you through every step of withdrawing both cryptocurrency and fiat money from Binance, including detailed instructions, processing times, fees, and daily limits.
The process is straightforward and designed with user experience in mind. Binance supports multiple withdrawal methods, including direct bank transfers and crypto withdrawals to external wallets. By following best practices and staying informed about network conditions and fee structures, you can optimize your transactions.
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How to Withdraw Money from Binance
To begin the withdrawal process, log in to your Binance account using your credentials. Once logged in, navigate to the "Wallet" section and select "Overview" to view your current balances across various cryptocurrencies and fiat currencies.
If you wish to withdraw fiat currency (such as USD, EUR, or GBP), you must first convert your cryptocurrency holdings into a supported fiat pair. To do this:
- Go to "Buy Crypto" and choose the "Buy & Sell" option.
- Select the cryptocurrency you want to sell (e.g., BTC, ETH, or USDT).
- Choose your preferred fiat currency as the receiving method.
- Enter the amount you'd like to convert and review the exchange rate and estimated fees.
- Confirm the transaction using your two-factor authentication (2FA) code if prompted.
After the sale is complete, the funds will appear in your fiat wallet on Binance.
Withdrawing to a Bank Account via Wire Transfer
To transfer the converted fiat funds to your bank account:
- Select "Withdraw" under the fiat wallet.
- Choose "Bank Transfer" or "SEPA," "SWIFT," or "ACH" depending on your region and banking system.
- Input your bank account details, including account number, routing number (for U.S. banks), and SWIFT/BIC code (for international transfers).
- Specify the withdrawal amount.
- Confirm the transaction with your 2FA code.
Processing times vary but typically take 1 to 5 business days, depending on your bank and location.
How to Withdraw USDT from Binance to Your Bank Account
Withdrawing Tether (USDT) — one of the most widely used stablecoins — involves converting it into fiat before transferring to a bank account. Here’s how:
Step-by-Step Process:
- Log In to Your Binance Account
Ensure you're accessing the official platform securely. - Navigate to "Buy Crypto" > "Buy & Sell"
Click on the "Sell" tab within this section. - Select USDT as the Cryptocurrency
Choose your local fiat currency (e.g., USD) as the payout method. - Choose "Bank Account" as Payment Method
If available in your region, select this option for direct deposit. - Enter the Amount of USDT You Want to Sell
Review the displayed exchange rate, fees, and expected fiat amount. - Confirm the Transaction
Finalize by entering your 2FA code.
Once confirmed, Binance processes the sale, and the equivalent fiat amount is transferred to your linked bank account within 2–5 business days.
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How to Withdraw Cryptocurrency from Binance
For users who prefer to move their digital assets directly to an external wallet (rather than converting to fiat), Binance offers seamless crypto withdrawals.
Steps to Withdraw Crypto:
- Go to "Wallet" > "Overview."
- Click on "Withdraw" next to your desired cryptocurrency.
- Select "Crypto" as the withdrawal type.
- Choose the specific coin (e.g., BTC, ETH, SOL).
- Enter the recipient wallet address carefully.
- Select the correct blockchain network (e.g., ERC-20 for Ethereum-based tokens, BEP-20 for Binance Smart Chain).
- Input the amount to withdraw.
- Double-check all details — especially the address and network — before confirming.
- Complete verification via email and 2FA.
⚠️ Important: Sending crypto to an incorrect address or using the wrong network may result in permanent loss of funds.
Processing time depends on network congestion but generally takes a few minutes to one hour.
How Long Do Binance Withdrawals Take?
Understanding withdrawal speed helps with financial planning and transaction timing.
Cryptocurrency Withdrawals: Typically processed within 5–60 minutes, depending on blockchain traffic:
- Bitcoin (BTC): 10–30 minutes
- Ethereum (ETH): 5–15 minutes
- USDT (on various networks): 3–30 minutes
Fiat Withdrawals: Usually take 1–5 business days, influenced by:
- Banking institution
- Country of origin
- Verification status
- Type of transfer (ACH, SEPA, SWIFT)
Weekends and public holidays may extend processing times.
What Are Binance Withdrawal Fees?
Fees vary based on asset type, withdrawal method, and network conditions.
Crypto Withdrawal Fees:
- Bitcoin (BTC): ~0.00003 BTC (~$2.75 at current rates)
- Ethereum (ETH): Varies with gas fees; average around $5–$15
USDT: Depends on network:
- ERC-20: ~$15–$25
- BEP-20: Often less than $1
- TRC-20: Typically under $1
Fiat Withdrawal Fees:
- ACH Transfers (U.S.): Free
- Domestic Wire Transfers: ~$25
- International SWIFT Transfers: $30–$50
Always check the fee breakdown before confirming any transaction.
What Is the Maximum Withdrawal Limit on Binance?
Daily withdrawal limits depend on your account verification level and KYC (Know Your Customer) status.
General Limits:
- Unverified Accounts: Lower limits (e.g., $2,000/day)
- Verified Standard Users: Up to 8 million BUSD per day
- Binance.US Users (U.S. Citizens): Up to $1 million per day via bank transfer after full KYC verification
Higher-tier accounts (VIPs) enjoy increased limits and dedicated support.
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Frequently Asked Questions (FAQ)
Q: Can I withdraw directly from Binance to my bank account?
A: Yes, if your region supports it. You must first sell your crypto for a supported fiat currency (like USD), then initiate a bank transfer via ACH, SEPA, or SWIFT.
Q: Why is my withdrawal taking longer than expected?
A: Delays can occur due to high blockchain congestion, bank processing times, weekends/holidays, or additional security reviews by Binance.
Q: Are there fees for withdrawing USDT?
A: Yes — fees depend on the blockchain network used (e.g., ERC-20, BEP-20, TRC-20). TRC-20 usually has the lowest fees.
Q: Can I cancel a withdrawal after submitting it?
A: Crypto withdrawals cannot be canceled once confirmed. Fiat withdrawals may be stoppable only if still in processing — contact Binance support immediately.
Q: Is it safe to enter my bank details on Binance?
A: Yes — Binance uses advanced encryption and complies with financial regulations to protect user data. Always ensure you're on the official site and enable 2FA.
Q: What happens if I send crypto to the wrong network?
A: Funds may be lost permanently. Always verify that the recipient wallet supports the selected blockchain network before sending.
By understanding these key aspects of Binance withdrawals — from conversion steps and fees to processing times and limits — you gain greater control over your digital finances. Whether you're moving funds for investment rebalancing or everyday use, informed decisions lead to safer, faster, and more efficient transactions.
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