Binance Resumes EUR and GBP Deposits and Withdrawals via SEPA

Binance, a cryptocurrency exchange, has resumed EUR/GBP deposits and withdrawals using the SEPA payment network (FPS) and Faster Payments Services. Binance also offers verified users no fees to deposit EUR via SEPA or GBP via FPS, in order to “celebrate SEPA/FPS’s return.”

Binance: FPS and SEPA Back

Binance, a cryptocurrency exchange, announced Monday at 11:00 UTC that it will be available for desktop and mobile users:

Binance and Paysafe will reopen EUR and UK deposits and withdrawals via the SEPA payment network.

The exchange explained that “Binance retail customers across Europe, with the exclusion of Switzerland and the Netherlands, will now be able make EUR transfers directly through SEPA.”

Binance also announced that it will “celebrate SEPA’s return” and offer all verified users “zero fees for depositing EUR via SEPA or GBP via FPS” through March 31, at 11:59 UTC.

Binance temporarily suspended EUR bank transfers via SEPA bank transfer in July 2013. The exchange announced a partnership agreement with Paysafe on Jan. 26 to bring back SEPA. Both companies created a pilot program to allow EUR withdrawals and deposits via the SEPA payment network.

Binance also suspended GBP withdrawals last July after the Financial Conduct Authority (FCA), a British financial regulator, warned that Binance was not allowed to engage in any regulated activity in Britain.

Clear Junction, Binance’s payments solution provider for GBP, stated that it would no longer facilitate payments related to Binance following the FCA warning.

In August 2017, the FCA stated that Binance had met its requirements. The regulator said that Binance had “signed an agreement that it would not offer cryptoasset activities until it was either registered or informed by the authority that it could use the transitional provisions of the MLRs [Money Laundering Terrorist Financing Transfer of Funds (Information on Payer) Regulations 2017].