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Binance P2P: How to Buy Bitcoin with Your Bank Account


Main Takeaways

  • Binance P2P allows users to easily buy Bitcoin by linking their bank account as a payment method. 

  • In this article, we’ll walk you through three different methods that allow you to quickly buy crypto using your bank account: conventional bank transfers, SWIFT (or international money transfers) and SEPA bank transfers for international EUR transactions.

  • SEPA and SWIFT transfers are typically quicker to complete than conventional bank transfers. However, SEPA is only available to users in select European countries and territories.

If you’re looking for a quick and convenient way to buy Bitcoin and other cryptocurrencies, try linking your bank account. Though Binance P2P supports more than 700 payment methods, including debit card, credit card and in-person cash payments, bank transfer remains one of the most popular payment methods on the platform.

More people choose Binance P2P than any other crypto peer-to-peer platform, thanks to its low fees, wide selection of cryptocurrencies, and flexible payment methods. In addition, Binance P2P supports more than 100 local currencies, so chances are, your local bank and preferred currency are supported. There are three different ways you can buy crypto on Binance P2P using your bank account: conventional Bank Transfer or SWIFT and SEPA for international money transfers. Read on to understand how these three payment methods differ and learn which one you should choose. 

How Do I Buy Crypto with Bank Transfer?

Bank transfers are one of the most popular payment methods on Binance P2P, allowing users to quickly send money to one another. With conventional bank transfers, users link their bank account to Binance P2P in order to send and receive money. This allows users to buy and sell cryptocurrencies like Bitcoin, Ethereum, BNB, Dogecoin and more. 

Because peer to peer crypto platforms connect buyers and sellers, and vice-versa, by using bank transfer, funds in your bank account will be transferred directly to the counterparty’s bank account. Follow these simple steps to buy crypto instantly using bank transfer.

Step 1: Tap [Buy] on the top left, select the fiat currency you want to pay with and then select [BTC], or the cryptocurrency you’d like to buy.

Step 2: Select the [Payment method] button in the middle. Filter the ads by selecting “Bank Transfer” in the drop-down menu. Afterwards, choose the P2P ad that suits your needs.

Step 3: Enter the amount you want to purchase, tap [Buy BTC] and then press [To Payment Page]

Step 4: Select [Bank Transfer], copy and paste the required details from your mobile banking app and then transfer the funds. These details may include a bank account number, bank name, branch information, or more. Once the seller receives your funds, they’ll then release the crypto assets. 

How Do I Buy Crypto with SEPA and SWIFT money transfers?

If you’re looking for a faster payment solution, SEPA and SWIFT are two of the most popular methods for receiving and sending funds. Before you continue, make sure your bank supports SEPA and SWIFT wire transfers.

  • SEPA is the European Union’s payment-integration initiative for fast cross-border euro bank transfers. If you’re not sure whether your local bank supports SEPA money transfers, read our FAQ guide on SEPA-supported countries.

  • If you’re located outside of the EU, SWIFT is the international payment solution used by more than 100,000 banking institutions and millions of customers worldwide. Often referred to as “international wire transfer”, SWIFT is supported by tens of thousands of financial institutions, making it one of the go-to choices for users looking to send money overseas. 

Step 1: Tap [Buy] on the top left, select the fiat currency you want to pay with, and then select [BTC].

Step 2: Tap the button in the middle Filter the ads by “SEPA” or “SWIFT” and then select a P2P ad posting that suits your needs.

Step 3: Enter the amount you want to purchase, tap [Buy BTC] and then press [To Payment Page]

Step 4: Select [SEPA] or [SWIFT], copy and paste the details onto your mobile banking app and then transfer the funds. The seller will only release the crypto assets once they receive your funds. 

Which Money Transfer Option Should You Choose When Buying BTC With Bank Transfer?

Not sure what the differences are between all the different bank transfer options? Read on for comparison between the most popular types of bank transfers: domestic transfers, same-bank transfers and international money transfer options like SEPA and SWIFT. Find out which option best suits your needs. 

Bank Transfer (country) 

When you select “bank transfer (country)” as a payment method, you’re opting to conduct a domestic bank transfer. Domestic transfers, which involve wire transfers wherein the sender and beneficiary financial institutions are located in the same country. This term therefore refers to any chain of wire transfers that takes place entirely within the borders of a single country. Domestic wire transfers are often processed within 24 hours, but processing times may also depending on your country or local bank of choice. 

Transfer with a specific bank

If you’re performing a transaction with a counterparty who uses the same bank, select the “Transfer with a specific bank” option to transfer funds to another customer with the same bank that you have selected. On Binance P2P, you will see a large list of banks that you can use to transfer in your local currency. However, in case you didn’t find the name of your bank, this option allows you to add your bank account information.

SEPA (EU) Transfer

SEPA, or Single Euro Payment Area (SEPA) wire transfers, are the most common cross-border money transfer option for users in the EU and other countries with SEPA-support. SEPA transfers only support cross-border money transfers involving Euros (EUR). Both the sender and recipient must bank with a SEPA-supported financial institution in order for this option to be supported as a payment method on Binance P2P. SEPA transfers vary in speed. Depending on your local financial institution, these transfers can take anywhere from an instant to two business days or more. 

Users outside of the EU or countries without SEPA support will need to choose another international money transfer method. Continue reading to learn how t buy Bitcoin using SWIFT international money transfers.

SWIFT Transfer

SWIFT, or Society for Worldwide Interbank Financial Telecommunications, are international money transfers processed via the SWIFT network. They are the most widely used international money transfer format, with support for most of the world’s most frequently used currencies. Payments can range from direct deposits to international bank transfers. 

SWIFT transfers usually take anywhere between 1-5 working days. Also, the bank processing the payment may charge around 3 to 4% as part of their service. 


Though Binance P2P allows buyers and sellers to choose from more than 700 different payment methods, bank transfers remain one of the most popular and desirable payment options on the platform. 

Bank transfers are fast and secure, with both free and low-fee options to choose from. No matter where you are in the world, chances are your preferred financial institution allows you to transfer money via bank transfer. 

If you’re ready to buy Bitcoin, sign up for a Binance account, link your bank account and start buying crypto. 

If you want to learn more about Binance P2P, read the following articles

Disclaimer: Your use of Binance P2P services and all information and other content (including that of third parties) included in or accessible from Binance P2P services is at your sole risk. Our only responsibility is to handle crypto transactions. All payments are final upon completion unless otherwise required by law. The Binance P2P platform has neither the right nor obligation to resolve any disputes arising from a completed payment. Neither the Binance P2P platform nor merchants shall be responsible for your loss in a completed payment.