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What is open banking?
Open banking lets you move funds from one bank account to another without using a card or a third-party payment network. It’s easier than traditional bank transfers and more secure than card payments. You can make an open banking payment from the Binance website and app.
How secure is open banking?
Open banking is safer and more secure than card payments. Payments are authenticated directly with your bank using a secure, read-only connection. Your login credentials are never stored or shared. Binance has partnered with TrueLayer, an FCA approved provider, to securely connect to your bank and process your payment.
How to deposit to Binance via open banking?
You can deposit EUR to Binance via open banking on the Binance website.
1. Log in to your Binance account and hover over the [Wallet] icon. Click [Overview].
2. Click [Deposit].
3. Choose [Bank Deposit] on the side panel.
4. Select [EUR] under [Currency] and choose to pay with [Easy Bank Payment]. Then, click [Continue].
5. If you haven’t completed identity verification for your Binance account, you will be prompted to do so at this step.
6. Click [Link Account via TrueLayer].
7. Then, you will be directed to TrueLayer’s website. Select your bank and login. You need to grant TrueLayer access to your account.
8. The linking process should be instant. Please note that the account must be under the same name as your Binance account. Once your bank account is verified, click [Deposit Now].
9. Now, enter the amount you want to deposit and you will see the transaction fee (if any). Click [Continue].
10. You will then be redirected to TrueLayer’s website. Choose a linked bank account, then confirm and authorize the transaction.
11. Your deposit order is now submitted. Please wait patiently for your bank to process your order. You can click [View History] to check the order status.
Typically, your order will be processed within 1 - 7 working days. If your funds haven’t arrived after 7 working days, click [Appeal].
If your deposit is denied, please ensure that your bank account balance is sufficient to cover the order and that you have completed the MFA (if required).
How to deposit to Binance via open banking?
You can deposit EUR and to Binance via open banking on the Binance app.
1. Log in to your Binance app and tap [Deposit] on the app homepage.
2. Tap [Deposit EUR].
3. Choose [Open Banking (SEPA)] and tap [Continue].
4. If you haven’t completed identity verification for your Binance account, you will be prompted to do so at this step. Tap [Start Now] and follow the instructions to complete.
5. Tap [Link Account via TrueLayer].
6. You will be directed to TrueLayer’s website. Select your bank and login. You need to grant TrueLayer access to your account.
7. The linking process should be instant. Please note that the account must be under the same name as your Binance account. Once your bank account is verified, tap [Deposit Now].
8. Enter the amount you want to deposit and you'll see the transaction fee (if any). Tap [Continue].
9. You'll be redirected to TrueLayer. Choose a linked bank account, then confirm and authorize the transaction.
10. Your deposit order is now submitted. Please wait patiently for your bank to process your order. You can tap [View History] to check the order status.
Typically, your order will be processed within 1 - 7 working days. If your funds haven’t arrived after 7 working days, tap [Appeal].
If your deposit is denied, please ensure that your bank account balance is sufficient to cover the order and that you have completed the MFA (if required).
