Update: Users in Europe may access EUR services provided by new fiat partners after they withdraw all their outstanding EUR balances with Paysafe to their bank accounts.Â
Fellow Binancians,Â
As Paysafe Payment Solutions Limited (Paysafe) unilaterally decided to stop processing EUR deposits for Binance users, Paysafe users are advised to take appropriate actions in advance.
The sudden decision by Paysafe will cause a brief interruption to the following services. We apologize for any inconvenience.
EUR Deposits & Withdrawals:
At 2023-09-25 00:00 (UTC), EUR deposits by Paysafe users were suspended. Meanwhile, users may continue to withdraw their EUR balances from Binance accounts to their bank accounts.
Buy/Sell Crypto with EUR:Â
Starting from 2023-09-28 04:00 (UTC), Paysafe users will not be able to sell crypto for EUR in their Spot wallets. Users can continue to buy crypto with EUR balances in their Binance accounts before 2023-10-31 at 0:00 (UTC).
Effective from 2023-10-31 at 0:00 (UTC), Paysafe users will not be able to complete crypto purchases with EUR balances in their Spot wallets. Please note that crypto purchases with EUR balances in Funding wallets will still be available.Â
Please be assured that users can continue to use their credit/debit cards to buy crypto with EUR, and sell crypto for EUR.Â
Binance Spot:
Effective from 2023-09-28 04:00 (UTC), all Paysafe users will not be able to trade EUR spot trading pairs. These usersâ open orders on EUR spot trading pairs will start to be canceled from 2023-09-28 05:00 (UTC). Paysafe users are strongly advised to cancel open orders on EUR spot trading pairs before 2023â09-28 04:00 (UTC).
Effective from 2023-09-28 04:00 (UTC), Binance will terminate Spot Trading Bots services on EUR/USDT and EUR/BUSD trading pairs for Paysafe users. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.
Binance Convert:
Paysafe users may convert EUR balances in their Binance accounts to USDT or other crypto before 2023-10-31 at 0:00 (UTC).Â
Convert will be set to EUR reduce only mode from 2023-09-28 04:00 (UTC). Reduce only mode allows users to convert EUR to USDT or other crypto through market orders but not the other way around. Users may close EUR open limit orders, but may not open new EUR limit orders thereafter. All Convert EUR open limit orders will be closed automatically from 2023-09-28 05:00 (UTC).
After 2023-10-31 at 0:00 (UTC), Paysafe users will not be able to convert their EUR balances in Spot wallets to other cryptocurrencies. Please note that the conversion of EUR balances to crypto will still be supported in Funding wallets after 2023-10-31 at 0:00 (UTC).Â
Binance Auto-Invest:
Auto-Invest EUR plans of Paysafe users will be paused from 2023-09-28 at 04:00 (UTC), and these users may not be able to subscribe to Auto-Invest plans with EUR thereafter. Note that Auto-Invest EUR services remain usual for other users.
Please rest assured all funds are secure, and all other crypto related services remain unaffected.
Putting users first is Binanceâs most important principle. We are working to integrate new fiat channels onto Binance soon, as in line with our mission to provide a seamless crypto experience for all users.
Thanks for your support!
Binance Team
2023-09-28
Note: This announcement was updated on 2023-11-07 to reflect the latest updates on the availability of the EUR-to-crypto converter service, and how users can reaccess EUR services provided by new fiat partners. It was previously updated on 2023-10-10 to add clarifications on buying crypto with EUR, and on 2023-09-28.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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