Binance Restores Real-Time Bank Transfers for Australian Users
Binance Australia has restored direct Australian dollar deposits and withdrawals for all local users, re-enabling PayID and bank-transfer access after over two years of disrupted banking services. This marks the first time since mid-2023 that Binance has provided direct fiat on and off-ramps in Australia, after banks previously restricted crypto-related services over fraud and compliance concerns. Users had been limited to debit or credit card payments, leading to higher costs and less flexibility compared to competitors with PayID access. The reintroduction of real-time payments brings Binance in line with rivals and removes a major barrier to user activity and market share. While Binance has not disclosed supporting banks, payment providers, or transaction limits, it attributes the change to internal operational efforts rather than regulatory clearance. The move follows a challenging period marked by regulatory scrutiny and the shutdown of its derivatives business. Survey responses indicate that easy fiat access is still a key concern for Australian crypto users.
