Binance.US transitioning to new bank providers; briefly limiting deposits, withdrawals

Binance.US said March 31 that some deposit and withdrawal services would be temporarily unavailable as it transitions to new services.

That update says that several transfer methods will be unavailable, including wire deposits and withdrawals, Apple Pay deposits, and Google Pay deposits. It also said that debit card deposits are not available to 5% of its customers.

The company attributed the service disruption to “recent developments in the banking industry” and said that it is moving to new banking service providers.

Binance.US said that ACH deposits from Signature Bridge Bank are no longer available. Signature Bank recently failed and was acquired by Flagstar, and there are still ongoing efforts to sell parts of the company.

Though that issue was listed as resolved as of 16:43 UTC, it was listed as an issue once again just minutes later. Various other issues may be ongoing.

Journalist at CryptoSlate

Mike trained in library and information sciences before moving into crypto writing in 2018. He lives on the West Coast of Canada.