How to Withdraw via Wire Transfer on Binance?

Besides C2C trading, Binance also supports withdrawals through bank wire transfers. Wire transfers are suitable for large withdrawals and are more formal and secure compared to C2C trading, though the process is somewhat more complex. Below is a detailed guide on the process and key considerations.

Prerequisites for Wire Transfer Withdrawals

Before using wire transfer withdrawals, you need to meet the following conditions:

Complete identity verification: At least intermediate KYC verification is required; some regions may require advanced verification
Link a bank account: You need to link a bank account that supports international wire transfers. Note that not all banks accept wire transfers from cryptocurrency exchanges — it's best to check with your bank in advance
Hold fiat currency balance: Convert your cryptocurrency to a supported fiat currency (such as USD, EUR, GBP, etc.)
Region support: Confirm that wire transfer functionality is available in your region — not all countries and regions support this feature

Step-by-Step Instructions

Step 1: Convert to Fiat Currency

If your assets are in cryptocurrency, you need to sell them for fiat first:

Go to "Trade" > "Spot"
Sell your cryptocurrency for USDT (if it's not already USDT)
Then use the "Sell Crypto" function or "C2C Sell" to convert to fiat
Alternatively, sell cryptocurrency directly for fiat on the "Fiat Trading" page

Note that different fiat withdrawal channels may require different conversion methods. Some regions support converting USDT directly to local currency, while others may require converting to USD first before withdrawing.

Step 2: Initiate the Withdrawal

Go to "Wallet" > "Fiat Account"
Select the corresponding fiat currency (e.g., USD)
Click "Withdraw"
Select "Bank Transfer (SWIFT)" or "Bank Transfer (SEPA)" (for European regions)
Enter your bank account information

Step 3: Fill in Bank Details

You need to accurately provide the following information — any errors may cause the transfer to fail or be delayed:

Beneficiary name: Must exactly match the name on your KYC verification, including capitalization and spelling
Bank name: Full name of the receiving bank
SWIFT code: The bank's international identification code, typically an 8-11 character alphanumeric combination (e.g., ICBKCNBJ)
Bank account number/IBAN: Your bank card number or international bank account number
Bank address: Detailed address of the receiving bank
Reference: Some banks require this — you can enter something like "Personal Fund Transfer"

Step 4: Confirm and Wait

Review all information for accuracy and submit the request
Complete security verification (email + phone + Google Authenticator triple verification for security)
Wait for processing, which typically takes 1-5 business days to arrive
Binance usually processes within 1-2 business days; the remaining time depends on your bank's processing speed

Fees and Limits

Wire transfer fees vary by currency and region, typically ranging from $15 to $35
Intermediary banks may charge an additional $5 to $25
Your receiving bank may also charge an incoming transfer fee
Total fees are usually between $25 and $60, making wire transfers more cost-effective for larger amounts
Daily withdrawal limits vary by VIP level; regular users typically have a set upper limit

Important Notes

Name consistency: The receiving account name must exactly match the verified name on your Binance account; otherwise, the bank may reject the deposit
Test with a small amount first: For your first wire transfer, try a small amount (e.g., $100-200) to confirm the entire process works before making large transfers
Keep records: Retain Binance withdrawal records and bank receipt confirmations as evidence in case of issues
Operate on business days: Wire transfers initiated on business days are processed faster. Avoid initiating transfers on Friday afternoons, as processing may not begin until the following Monday
Contact your bank in advance: Some banks may have additional review processes for funds from cryptocurrency exchanges. Communicate with your bank ahead of time to understand any related restrictions
Exchange rate fluctuations: If currency conversion is involved (e.g., USD to CNY), be aware that exchange rate fluctuations may affect the final amount received
Report large transfers in advance: For large single transfers (e.g., over $50,000), it's recommended to contact both Binance customer support and your bank beforehand to avoid delays caused by anti-money laundering reviews