Binance Announcement
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Updates on Crypto Transfer Procedures in South Africa
This is a general announcement. Products and services referred to here may not be available in your region.
This announcement affects South African users ONLY.
Fellow Binancians,
In adherence to local regulatory requirements, Binance will gradually introduce changes to crypto withdrawal and deposit procedures for South African users to make sure we continue operating in full compliance to the local requirements.
Starting 2025-04-30, users may need to provide more information when receiving and sending crypto on Binance.
Changes to Crypto Deposit and Withdrawal Procedures
Crypto Deposits to Binance: Users will be asked to provide the sender’s information when receiving any amount of crypto on their Binance accounts. Withdrawals from Binance: Users will be asked to provide the beneficiary’s information when sending any amount of crypto out of their Binance accounts.
What Type of Transactions Are Affected
This update only affects crypto deposits and withdrawals.
Actions Required
Users will see a pop-up message to provide additional information about the sender or the beneficiary when performing deposit and withdrawal transactions.
1. Sending Crypto Assets from Binance to Another Crypto Exchange or Self-Hosted Wallet
After confirming the withdrawal details, users will see a pop-up message to provide additional information on the beneficiary, such as:
Full name;Country of residence;Name of crypto exchange (if applicable).
If you are sending assets to yourself on another exchange, you will only need to provide the name of the receiving crypto exchange.
2. Receiving Crypto Assets from Another Crypto Exchange or Self-Hosted Wallet
To receive crypto assets on their Binance accounts, users need to go to the crypto deposit page and click on transactions pending credit. After that, they will see a pop-up message to provide additional information on the originator, such as:
Full name;Country of residence;Name of crypto exchange (if applicable).
What Happens If Users Do Not Provide the Required Information
The transaction may be delayed or may not be processed if users do not provide the necessary information. In some cases, the crypto assets may be required to return to the originator. Please ensure to provide all the required information during the deposit and withdrawal procedures.
Users can refer to our privacy notice for more information on how we process personal data. For additional queries and information, please contact Binance Customer Support.
Notes:
No action is required if users do not perform crypto transfers. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your understanding as we work to ensure compliance while maintaining a smooth experience for all users.
Thank you for your support!
Binance Team
2025-04-22
This announcement affects South African users ONLY.
Fellow Binancians,
In adherence to local regulatory requirements, Binance will gradually introduce changes to crypto withdrawal and deposit procedures for South African users to make sure we continue operating in full compliance to the local requirements.
Starting 2025-04-30, users may need to provide more information when receiving and sending crypto on Binance.
Changes to Crypto Deposit and Withdrawal Procedures
Crypto Deposits to Binance: Users will be asked to provide the sender’s information when receiving any amount of crypto on their Binance accounts. Withdrawals from Binance: Users will be asked to provide the beneficiary’s information when sending any amount of crypto out of their Binance accounts.
What Type of Transactions Are Affected
This update only affects crypto deposits and withdrawals.
Actions Required
Users will see a pop-up message to provide additional information about the sender or the beneficiary when performing deposit and withdrawal transactions.
1. Sending Crypto Assets from Binance to Another Crypto Exchange or Self-Hosted Wallet
After confirming the withdrawal details, users will see a pop-up message to provide additional information on the beneficiary, such as:
Full name;Country of residence;Name of crypto exchange (if applicable).
If you are sending assets to yourself on another exchange, you will only need to provide the name of the receiving crypto exchange.
2. Receiving Crypto Assets from Another Crypto Exchange or Self-Hosted Wallet
To receive crypto assets on their Binance accounts, users need to go to the crypto deposit page and click on transactions pending credit. After that, they will see a pop-up message to provide additional information on the originator, such as:
Full name;Country of residence;Name of crypto exchange (if applicable).
What Happens If Users Do Not Provide the Required Information
The transaction may be delayed or may not be processed if users do not provide the necessary information. In some cases, the crypto assets may be required to return to the originator. Please ensure to provide all the required information during the deposit and withdrawal procedures.
Users can refer to our privacy notice for more information on how we process personal data. For additional queries and information, please contact Binance Customer Support.
Notes:
No action is required if users do not perform crypto transfers. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your understanding as we work to ensure compliance while maintaining a smooth experience for all users.
Thank you for your support!
Binance Team
2025-04-22
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
