Fellow Binancians,

Please kindly note that all sub-accounts created by Exchange Link account holders under the Binance Link Program must adhere to Binance’s enhanced compliance standards. This includes non-trading sub-accounts created solely for asset deposit purposes.

Only verified and compliant users will be granted access to their sub-accounts. Starting from 2024-03-20, Binance has been applying restrictions to sub-accounts that have not had compliant Know Your Customer (KYC) documentation in place. By 2024-05-20, sub-accounts holders that have not provided the necessary KYC information will have their accounts fully restricted and will no longer have access to the Binance Link Program services.

Exchange Link account holders should ensure that they have fully integrated with the Link-KYC module. Exchange Link account holders must provide any additional user information on behalf of their sub-account holders upon request via the Link-KYC module. This may include, but is not limited to information relating to: Source of Funds, Source of Wealth, and Proof of Address. Exchange Link account holders should be prepared to provide such information on their sub-account users. Incomplete user information will result in a failure to onboard a sub-account user. Please note, Binance will only communicate directly with the Exchange Link account holders and will not be responsible for communicating with sub-account users.

Details on RFI (Request For Information) are stated below: 

  • Source of Funds include:

    • Salary; self-employment income; savings; allowance; pension; dividends; payments/profits from a company; day trading; gambling; passive income; loans/mortgages; sale of financial assets; sale of real estate or other assets; inheritance; donations.

  • Source of Wealth includes: 

    • Salary; self-employed income; inheritance; donation; mortgages/loans; company profits (shares/dividends); financial investment; crypto investments.

  • Proof of Address includes: 

    • Utility bills, such as electricity, water, gas or sewerage; internet service provider account statement; landline telephone bill (mobile bills are not acceptable); body corporate disclosure statement; building management statements; home insurance statement; mortgage statement; bank or credit card statement; bank reference letter stamped and/or signed; student rental agreement from university residence or university housing/halls; letter from a university to confirm student attends and their current residential address; government-issued student grants/loans or bursaries to a current residential address.

  • Politically Exposed Persons (PEP) Declaration  

    • Binance may require the sub-account holders to complete a questionnaire for potential Politically Exposed Persons (PEPs). Exchange Link account holders can download the questionnaire for their sub-account holder(s) to complete via the Link-KYC integration document, which consists of the following questions: 

      • Are you a Politically Exposed Person (PEP) or related to a PEP?

      • If you are a PEP, please provide the details of your PEP position, including: occupation/title, employer name, employer address, and employment dates.

      • If you are related to a PEP, please provide the details of your relationship to the PEP.

Binance will impose the following restrictions on sub-accounts with incomplete KYC  information: 

Sub-Account Restrictions

Services

Restriction

Deposits

Restricted

Withdrawals

Allowed, unless otherwise specified

Spot Trading

Restricted. Cannot place new orders and all existing spot orders will be canceled

Futures Trading

Restricted. Cannot place new orders, but can reduce existing positions

Margin Trading

Restricted. Cannot place new orders, but can reduce existing positions

Notes:

  • In certain cases, the funds in a sub-account may be frozen and access to the sub-account may be restricted for legal and compliance reasons. In such cases, Binance may sometimes not be able to provide the Exchange Link account holder or their sub-account users with a detailed explanation for legal and compliance reasons.

  • Restricted sub-accounts are also unable to receive deposits. Please kindly note that refund of misplaced deposits may take up to 45 days. There will also be an administrative fee of $200 or equivalent charged per appeal, regardless of the deposit size. All Exchange Link account holders are required to inform their sub-account users about these changes. 

  • Access restrictions may be imposed where Binance Exchange Link account holders are uncontactable, unresponsive or uncooperative. In certain cases, Exchange Link account holders may have their Exchange Link accounts downgraded to a corporate account and unused sub-accounts deleted. These account holders will lose access to the Link Program and are not eligible to have their Exchange Link accounts reopened. Please reach out to link@binance.com if you have not received any of our email communications thus far or if you have any questions.

  • Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

We appreciate your understanding and cooperation in making Binance secure, transparent, and user-friendly.

Thank you for your support!

Binance Team

2024-04-05