A Beginner's Guide on How to Withdraw from Binance

Frozen Crypto Funds A Beginner's Guide on How to Withdraw from Binance

How to Withdraw from Binance When Your Account is Locked

Binance is a global cryptocurrency market that was once thought to be among the more trustworthy and reliable coin platforms. However, in the last few years, there has been a massive wave of international clients unable to withdraw from finance because their account is fully or partially locked. Some are still able to deposit and trade coins on Binance, but only withdrawals are security flagged. Others have found that they are completely unable to withdraw from Binance or manage any of their Binance funds.

If you're looking for the official way to withdraw from Binance or alternatives if you can't withdraw from Binance, DoNotPay is here to help.

What Is Binance?

Binance is a massive international cryptocurrency exchange. It is possible to buy many types of crypto coins and trade them on the open market. Users should be able to add funds, buy coins, trade coins, and withdraw coins for their cash value at any time. Users have not always found this to be true.

How to Withdraw Funds from Binance 

When you are ready to withdraw your funds from Binance, the system theoretically only takes a few taps on your phone and 30 minutes for bank transfers to do their thing. If your Binance account is working properly, this is how to withdraw from Binance in five easy steps.

1. Log Into Your Binance Wallet

  • First, log into your Binance wallet through the mobile or browser app.
  • Then navigate to your wallet. The link is in the upper right-hand corner.

2. Start a Fiat and Spot Withdrawal

  • From your wallet, select to begin a "Fiat and Spot" transfer, which is the cool crypto-hip way to say you're turning coins into real national (fiat) money.
  • The Fiat and Spot interface will lead you to fill out some information. Select "USD" to withdraw US dollars from Binance, or another currency if you live/shop elsewhere.
  • Then select "Withdraw" from the little row of "Actions" in the chart presented to you.
  • On the next page, a "Bank Transfer (SWIFT)" is already selected for you, so you can click "Continue".

3.  Enter Your Bank Information

Now, you should be able to fill out your banking information on the following form.

4. Request a Withdrawal

When your bank account information is complete and accurate, click "Continue" and then "Confirm" to submit your request for a withdrawal from Binance.

5. Wait 30 Minutes

Binance claims their transfers only take up to 30 minutes, depending on the speed of your bank. So if 30 minutes pass and you don't see your funds - or if you receive a strange error message -  your account may be one of the many partially locked Binance accounts currently sitting in customer service limbo.

How Long Does It Typically Take to Withdraw from Binance?

Binance messaging reports that withdrawals should only take about 30 minutes to complete. Binance withdrawals should be automatically approved by the system. However, if the system flags your account for any reason, 30 minutes can turn into months and - for some users - years before Binance funds are unfrozen.

Why Can't I Withdraw from Binance? 

Why are your finance funds frozen, or why won't Binance let you withdraw your funds? Binance has a few reasons it says this can happen.

  1. Binance thinks your account has been hacked, or that you are a hacker
  2. Binance thinks your account is connected to malicious activity in some undisclosed way
  3. Binance thinks someone other than you is using your account
  4. Binance thinks you or someone using your account is trading maliciously

Here are some other reasons why Binance might have frozen your account - and their customer service can't/wont unfreeze it:

  • Binance's KYC (Know your Customer) software has failed and flagged your account by accident
  • Binance's AML (anti-money laundering) algorithm has inaccurately flagged your account
  • Your account really was at risk, but Binance customer service is too disorganized to get you back online

How to Contact Binance Customer Service if You Can't Withdraw from Binance

If you plan to ask Binance customer service to assist with your withdrawal, good luck. Binance does not publicize its constant information, does not actively manage its Zendesk, and has been known to close support tickets relating to locked withdrawals without resolution.

Many users unable to withdraw from Binance have also reported being asked to do impossible things (like upload PDFs to the chat support, which the chat cannot do) in order to restore their accounts. We give this fair warning before sharing what little Binance support contact information that is available.

Binance Support Center Contact Information
Online SupportLive Chat
FAQ PageHelp Center
Websitehttps://www.binance.com/en
Account LoginPortal

What's the Fastest Way to Withdraw from Binance If Your Account is Locked?

If the Binance app won't let you withdraw from Binance and Binance customer service won't help - you still have options. The most effective method for withdrawing from Binance when your account is locked is to contact them directly. By making it clear that you are ready to take official and legal actions, Binance will be forced to expedite your account and free up your funds for withdrawal.

DoNotPay is the fastest way to legally demand access to your account and your funds by automatically sending the exchange a demand letter. All you have to do is:

  1. Search "Crypto" on DoNotPay.

     

  1. Select the crypto exchange platform you use.

     

 

  1. Tell us when this problem started and estimate the losses you incurred from your inability to make trades/cash out.

     

How to Fix Other Cryptocurrency Account Problems with DoNotPay

Check out these resources:

What Else Can DoNotPay Do?

DoNotPay is here to protect your rights, your finances, and your peace of mind. Here are a few other things we can do to help you sort out your finances and cut some of that red tape that gets in the way of working your investment portfolio.

Join DoNotPay today to gain access to a faster way to withdraw from Binance and rescue your funds from an unreliable exchange platform.

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