Binance Australia Maintains AUD Withdrawals Despite Suspension of PayID AUD Deposits

blockchain.news:

Binance, the world's largest cryptocurrency exchange, has announced an immediate cessation of PayID AUD deposits and potential impacts on bank transfer withdrawals for its users.

The unexpected decision follows an action taken by its third-party payment service provider. In a recent tweet, Binance stated, «We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third-party payment service provider.» The payment processor's decision also affects the bank transfer withdrawals, the timeline for which will be advised to the users once confirmed.

While the sudden stoppage may cause some disruptions for Australian users, Binance has made it clear that they are actively seeking a new payment service provider to resume the services swiftly. «We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users,» the exchange said.

Despite this setback, Binance assured its customers that other transaction methods remain operational. Users can still purchase and sell cryptocurrencies using credit or debit cards.