Skip to main content

Binance Plans to Halt EUR Withdrawals via SEPA Amid Third-Party Payment Challenges

Binance Halts EUR Withdrawals via SEPA Amid Third-Party Payment Challenges

Numerous sources have indicated that Binance, the largest crypto exchange by global trading volume, has temporarily halted EUR withdrawals and deposits through SEPA due to challenges with a third-party payment facilitator. However, a post published by Binance’s customer support team at 12:21 p.m. (ET) on Monday notes the service will officially halt on September 25, 2023.

Binance to Suspend EUR SEPA Transactions

On Monday, August 19, 2023, Binance’s dedicated customer support channel, the X account, stated that SEPA transfers for EUR are currently on hold. “Please be informed that currently, direct bank transfer for EUR currency is in maintenance,” the support channel informed a user. In subsequent messages to select Binance patrons, the exchange articulated their efforts to rectify the situation.

“We regret to inform you that we have temporarily suspended EUR withdrawals and deposits via SEPA,” the Binance customer support message detailed. “Unfortunately, our provider can no longer support these transactions. We understand the inconvenience this has caused, and we’re actively working to resolve this as soon as possible. However, at the moment, we don’t have a specific time frame for the restoration of SEPA transfers.”

While some have complained that the service has already been halted, Binance’s customer support team stated that the “SEPA deposit and withdrawal service will continue” until September 25, 2023. It noted that some customer support messages were sent in error.

Throughout 2023, Binance grappled with multiple setbacks tied to payment intermediaries handling fiat transactions. Binance US, their American branch, experienced discrepancies in crypto values due to complications with USD withdrawals. Earlier in the year, following the downfall of three crypto-friendly banks, it came to light that Binance US was facing challenges securing a banking ally. A comparable predicament unfolded with Binance Australia as AUD withdrawals got suspended.

What do you think about Binance grappling with EUR payment issues? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/h2j93wr
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more