Binance announces that GBP deposits and withdrawals via bank transfer (Faster Payments) have now resumed for Binance verified users. Successful completion of account verification is required to use this service.

Faster Payment is a payment network service integrated via Paysafe, enabling users to deposit and withdraw fiat currencies via bank transfers.

Binance advises its clients against making any transfers below 3.00 GBP. After deducting the relevant fees, any transfers below 3.00 GBP will not be credited or returned.

In January, Binance announced that it has partnered with Paysafe to launch the pilot program for EUR Deposit and Withdrawal via the SEPA payment network. Users are selected based on a range of testing criteria to participate in the pilot program. The full re-opening of SEPA channels will scale up across the markets in due course.