- The ability to buy and sell cryptocurrencies using credit or debit cards is still fully operational.
- Binance Australia seeks an alternative provider to maintain the availability of AUD deposits and withdrawals.
Binance Australia has temporarily halted its Australian dollar services due to a disruption in support from its local payment services provider. Binance Australia took to Twitter on May 18 to inform users that AUD PayID deposits temporarily halted. And warned that bank transfer withdrawals would be impacted as well, citing a decision made by their third-party payment service provider.
Fellow Binancians,
— Binance Australia (@Binance_AUS) May 18, 2023
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. We understand from our third party payment service provider that Bank…
In response to the situation, Binance has stated that it is actively seeking an alternative provider to maintain the availability of AUD deposits and withdrawals for its users. Moreover, Binance confirms that the ability to purchase and sell cryptocurrencies with credit or debit cards, along with the seamless operation of their Binance P2P marketplace, will not be impact and will proceed as usual.
Additionally, Binance emphasized the safety of user funds. Highlighted the existence of the Secure Asset Fund for Users (SAFU), an insurance fund that protects Binance users and their funds during exceptional situations.
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