Binance, the world’s largest cryptocurrency exchange, lets you easily convert your crypto into fiat and send it directly to your bank account.
Whether you’re a first-time user or an experienced trader, this step-by-step guide covers everything from KYC to withdrawal — plus how to stay safe from P2P scams.
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✅ Step 1: Verify Your Identity (KYC)
Before any fiat withdrawal, complete KYC verification:
‣ Log in to Binance
‣ Go to Profile > Identification
‣ Submit your ID (passport, national ID, or driver’s license)
‣ Upload a selfie/facial verification
‣ Wait for approval (minutes to a few hours)
🔒 Note: KYC is mandatory and unlocks higher limits.
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🏦 Step 2: Link Your Bank Account
‣ Go to Wallet > Fiat and Spot
‣ Click Withdraw > Fiat
‣ Choose your local currency (USD, EUR, PKR, etc.)
‣ Select Bank Transfer
‣ Enter bank account details (account number, SWIFT/IBAN, etc.)
‣ Save and verify information
⚠️ Bank account name must match your Binance profile name.
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💰 Step 3: Select Withdrawal Amount
‣ Go to Wallet > Fiat and Spot
‣ Click Withdraw > Fiat
‣ Select currency and bank transfer method
‣ Enter the amount you want to withdraw
‣ Review fees and net amount
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🔍 Step 4: Review & Confirm
‣ Double-check bank details, currency, and fees
‣ If all is correct, click Submit
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🔐 Step 5: Complete Security Verification
‣ 📧 Enter the code sent to your email
‣ 📱 Enter your 2FA code from SMS or authenticator app
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⏳ Step 6: Processing Time
‣ Local transfers: 1–3 business days
‣ International: 3–5 business days
‣ Email confirmation once funds are sent
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🏁 Step 7: Check Bank Account
‣ Log in to your bank app or online banking
‣ Confirm deposit
‣ If delayed, contact your bank first, then Binance Support
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⚠️ P2P Scam Alert — Stay Safe!
Binance P2P is a secure marketplace, but scammers may target inexperienced users.
Here’s how to protect yourself:
1️⃣ Trade Only with Verified Merchants
‣ Look for the yellow badge (verified)
‣ Check merchant’s completion rate & trade volume
2️⃣ Never Release Crypto Before Payment Confirmation
‣ Always confirm payment in your bank before clicking "Release"
3️⃣ Avoid Off-Platform Communication
‣ Keep all chats inside Binance P2P
‣ Scammers may lure you to WhatsApp/Telegram to bypass Binance security
4️⃣ Watch for Fake Payment Proof
‣ Only trust actual credited funds in your bank account
‣ Screenshots can be faked
5️⃣ Report Suspicious Activity Immediately
‣ Use the Report button in chat to alert Binance Support
💡 Pro Tip: If you’re new to P2P, start with small transactions until you’re confident.
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💡 Extra Tips for Smooth Withdrawals
‣ Complete full KYC for higher limits
‣ Review fees before confirming
‣ Use P2P only with trusted, verified traders
‣ Keep your bank details updated
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Common Issues & Fixes
Problem Solution
Bank not linked Add via Withdraw > Fiat
Funds delayed Wait up to 5 days, then contact support
Wrong details Cancel & re-submit
Limits exceeded Complete full KYC
📌 Stay Safe
‣ Don’t share passwords or 2FA codes
‣ Monitor notifications for withdrawal status
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