Binance SWIFT banking partner set to ban USD transfers below $100K

Binance has informed its retail customer base of a potential incoming service disruption that may halt on and off-ramp bank payment transfers.

Binance announced the news to its “Binancians” by email on January 21, stressing that they’re now “actively seeking” a new SWIFT partner to avoid service disruptions for future bank payment transfers. “This is the case for all of their crypto exchange clients. Please be advised that until we are able to find an alternative solution, you may not be able to use your bank account to buy or sell crypto with USD via SWIFT with a value of less than $100,000 USD after February 1st, 2023.”

“The banking partner that services your account has advised that they are no longer able to process SWIFT fiat (USD) transactions for individuals of less than 100,000 USD as of February 1st, 2023.' (affects binance but not BinanceUS)

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