Posted 1 year ago | by Ben Armstrong

Binance Partners with Clear Junction to Enable Bank Transfers via SEPA and FPS

Leading cryptocurrency exchange Binance recently launched a UK platform in order to expand its services in Europe. Clear Junction will help with payment solutions. The exchange has added direct fund transfers by using SEPA for euro and Faster Payments for British pounds.

The new tools ensure fast fiat deposits and withdrawals for Euros and GBP.

If you are interested in opening an account with Binance, please click right here. It offers a great range of trading tools, and many different options for people who want to own cryptos.

Binance Goes Bigger!

According to a recent announcement, Binance has partnered with Clear Junction, a British provider of payment infrastructure services, to support for direct bank transfers via Single Euro Payments Area (SEPA) and the British pound sterling by adding bank transfers via the Faster Payments Service (FPS).

Binance users must complete identity and address verification to benefit from SEPA and FPS.

From Binance:

“Users can enjoy fast, inexpensive direct deposits and withdrawals of EUR and GBP to and from their Binance account via their bank accounts.”

With both transfer methods, Binance has created daily deposit and withdrawal limits.

New Ways to Move Value

SEPA is powered by the European Banking Industry and allows fast, reliable, and cheap Euro (EUR) transfers between bank accounts in the SEPA-zone.

It is powered by the European Commission and the European Central Bank. SEPA daily and monthly limits are €50,000 and €500,000, respectively. The limit per transaction starts at €20 and may be as high as €15,000.

Each SEPA deposit or withdrawal costs €1.50.

FPS is one of the most advanced systems in the world that reduces payment times. As Binance disclosed, the daily limit for deposits and withdrawals is £50,000. The monthly limit is £500,000. Limit per transaction ranges from £20 to £15,000, with a fee of £1.95.

More Tools from Binance

Recently, the crypto exchange giant has joined the crypto-asset exchange committee at the Internet and Mobile Association of India (IAMAI), a leading trade body of digital businesses in India, to support developing blockchain industry in this country.

Currently, Binance is focusing on expanding its service in Europe by launching its UK platform.

The exchange is planning to introduce the UK platform to retail and institutional investors in the near future.

The new platform is authorized by UK Financial Conduct Authority (FCA). Binance UK will support 65 digital assets and allow users to buy and sell these assets through their bank accounts using direct transfers.

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Binance Partners with Clear Junction to Enable Bank Transfers via SEPA and FPSBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.