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SEPA to Binance warning

  • 10-10-2022 12:34pm
    #1
    Joe Public
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Joe Public


    On Binance I setup SEPA transfer to Binance, went through a mini KYC procedure and got verified ok. I then transferred a few Euro to test and it arrived in Binance ok. I left it at that and 5 days later they sent me a text to say my verification has been rejected and my Binance services were unavailable and only the withdraw service was available and I should withdraw my funds. I have spent many hours with their support and raised a few tickets but they say their decision is final and my status is Assurance Review Failed.

    On searches I found this https://www.businesspost.ie/news/binance-suspends-sepa-transfers-for-irish-investors/ which dates back to July 2021

    It says Binance sent emails to all their Irish customers, I searched back and didn't find any.

    To me it looks like Binance were supposed to block SEPA payments from Ireland but didn't do it very effectively and when my deposit was flagged there was a mini panic and I was deemed a security risk or something and now they have removed my service and only allowing me to withdraw any funds I have.

    Has anyone experienced this? or any other ideas of what is happening?

    I have been with them for 6 years with no problems until now.



Comments

  • #2
    Potatoeman
    Registered Users, Registered Users 2 Posts: 4,474 ✭✭✭Potatoeman


    I don’t think it was just Ireland the SEPA service was removed for most if not all EU countries. I think can still revolut money to it or use a credit card or use another exchange and send to it with crypto. I transferred money out through Solana to coinbase to cash out.



  • #3
    Joe Public
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Joe Public


    Yes, SEPA was removed for most of Europe and cards should be ok. If Binance did it properly then SEPA transfers would be blocked but mine got through. On further questioning their support they say a 3rd party alerted them so that's probably what spooked them. It could have been my bank that alerted them. They then take it out on me for their shortcomings, that's gratitude for you 😏



  • #4
    Joe Public
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Joe Public


    https://www.boards.ie/discussion/comment/119748992#Comment_119748992

    Thanks for that, I didn't check with the bank but I'm assuming because mine went through they alerted Binance rather than contacting me.

    Post edited by Boards.ie: Mike on


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