Here is a step-by-step guide on how to deposit to Binance using the Sparkasse Frankfurt banking platform. This guide is broken down into 3 parts. Please follow all the instructions in order to successfully deposit EUR funds into your Binance account.
Part 1 will show you how to collect the necessary bank information for the transfer.
Part 2 will show you how to activate SEPA transfer to the UK.
Part 3 will show you how to initiate the transfer with the Sparkasse Frankfurt banking platform, using the information obtained in Part 1.
Part 1: Collect the necessary bank information
Step 1: From the Menu bar, Go to [Buy Crypto] > [Bank Deposit]:
Step 2: Select ‘EUR’ under ‘Currency’ and then select ‘Bank Transfer (SEPA)” as the payment method. Next, enter the EUR amount you would like to deposit and click [Continue].
** Note that you can only deposit funds from a Bank Account with the EXACT same name as your registered Binance account. If the transfer is made from a Bank Account with a different name, the bank transfer will not be accepted.
Step 3: You will then be presented with Bank Details to deposit funds into. Please keep this tab open for reference and proceed to Part 2.
**Note that the Reference Code presented will be unique to your own Binance account.
Part 2: Activate SEPA transfer to the UK on the Sparkasse Frankfurt banking platform
In order to make a SEPA transfer abroad, you must first have the country activated. In the case of Binance, we need to activate transfers to ‘Great Britain’.
** If you already have ‘Great Britain’ activated, please proceed to Part 3
Step 1: Log into your online banking platform.
- Go to [Online baking] > [Service] > [Manage foreign payments]
Step 2: Fill in the PPZV security questions by entering your date of birth and debit card number.
Step 3: Now, a list of already unlocked countries appears.
- In this case, none are unlocked yet.
- Click on the edit icon on the far right to add.
- Select ‘Great Britain’ from the list of countries
Step 4: Confirm the instruction with your TAN (transaction number).
Step 5: That’s it! Foreign payments via SEPA are now enabled to the UK.
Part 3: Initiate the transfer instruction with the Sparkasse Frankfurt banking platform, using information obtained in Part 1.
Step 1: Go to [Online banking] and select [Transfer] under your financial status
Step 2: Fill in the transfer details according to the information obtained in [Part 1-Step 3]
**Note that all information entered must be EXACTLY as indicated on [Part 1-Step 3]. If the information is incorrect, then the bank transfer will not be accepted.
- Reference code
- Amount to transfer
Step 3: Review and confirm that the information has been entered correctly.
- Next, confirm the transaction with your TAN (transaction number).
STEP 7: The transaction is now complete. You should see the confirmation screen.
**Normally, the SEPA transaction processing needs 0-3 business days, and SEPA Instant takes around 30 minutes to proceed.