Binance Bahrain and Beyon Money: a new deposit method that saves users time
In a step that benefits users of digital currencies in Bahrain, Binance Bahrain announced a partnership with Beyon Money, a locally licensed financial institution, to provide a direct deposit method in Bahraini Dinar (BHD). The aim of this partnership is to bypass the usual delays in traditional bank transfers and deliver a faster, smoother deposit experience.
How does the service work?
Instead of waiting hours—or even days—to complete a bank transfer, Binance Bahrain users can now link their personal Beyon Money wallet to their account and complete the deposit in just a few seconds. The process is designed to be simple and straightforward:
1. Log in to the Binance account dashboard and select “Bank deposit”
2. Set the Bahraini Dinar (BHD) as the currency, and Beyon Money as the deposit method
3. Enter the required amount and approve the request
4. Log in to the Beyon Money interface using a phone number, and complete verification with an OTP code
5. Confirm the transaction using the PIN code of your Beyon Money card
According to the company, most deposit transactions are processed in about 30 seconds, although the actual time may vary depending on Beyon Money platform performance itself, since these transactions are outside of Binance’s direct control.
Who needs a new account?
Users who don’t have an account on Binance Bahrain are required to create one, with an email address or phone number different from their account on the global Binance platform—if one exists—since having two separate accounts is allowed. To make this easier, the platform offers a “Switch accounts” feature that lets users move between the global account and the Bahrain account with a single tap inside the app.
Fees and direct purchase capability
Deposits via Beyon Money are subject to a 1% fee plus VAT, which is worth considering when comparing with other deposit methods available on the platform.
An additional feature enabled by this partnership is the ability to use the deposited Bahraini Dinar balance to buy digital currencies directly from the “Trading Wallet,” without needing any extra transfer steps.
