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Binance Savings
How to Transfer Locked Savings Assets to Flexible Savings Assets?
2019-12-16 07:50

1. After you have subscribed Binance Locked Savings products, you can choose to transfer part of the Locked Savings funds (minimum transfer amount is 1 lot) to Flexible Savings funds (on condition that the fund is supported by Flexible Savings service) to redeem the Locked Savings in advance, improving the liquidity of your funds.

2. You can complete this operation through [Savings] - [Assets] - [Operation] - [Transfer]

3. Notes:

  1. After the transfer, the entire amount of the interests of the Locked Savings which belong to the part of assets switched to flexible savings will not be distributed anymore.
  2. After the operation, the assets switched will be transferred to your Flexible Savings account. The redemption will be opened immediately.
  3. After the transfer, the interests of the flexible savings will also be calculated starting from the next day and will be distributed starting from the third day.

4. Example:

a. 1st January 2020: the user subscribed 10,000 USDT of Locked Savings products;

b. 5th January 2020: the user needs these funds, and asks to switch 5,000 USDT to Flexible Savings. The funds are transferred to the user’s Flexible Savings account on the same day. The redemption will be opened immediately.

c. 6th January 2020: the Flexible Savings assets of 5,000 USDT begin to generate interests.

d. 7th January 2020: the user receives the Flexible Savings interest from this asset of 5,000 USDT.

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