Binance has restored real-time Australian dollar bank transfers for users in Australia. This reopens PayID and direct bank deposit channels previously suspended for more than two years. The move returns instant fiat on-ramps and off-ramps and follows a phased rollout completed in mid-January 2026.
Real-time AUD Transfers Resume on Binance
Binance Australia confirmed that all verified local users can now deposit and withdraw AUD via PayID and standard bank transfer, effective 16 January 2026. The exchange said the service had been tested with a smaller user group before being extended platform-wide as part of a staged reintroduction of fiat rails.
PayID enables real-time payments using identifiers such as mobile numbers and email addresses. This allows customers to move funds between bank accounts and the exchange in near-instant fashion. Bank transfers via BSB and account number sit alongside PayID as an additional option. It offers standard clearing times for users who prefer traditional online banking flows.
Reversal of 2023 Debanking
The restoration follows a suspension of AUD bank transfers that began in mid-2023. This was after Binance lost access to key local payments partners and halted Australian dollar deposits and withdrawals via bank transfer.
During the outage, Australian customers largely relied on card payments, peer-to-peer markets and crypto-to-crypto conversions. The alternatives added costs and reduced flexibility compared to rivals that maintained full banking access.
After tighter cooperation with Australian authorities and an external evaluation of the platform’s anti-money laundering and counter-terrorism funding measures mandated by AUSTRAC in 2025, Binance has restored its fiat connectivity. As part of the preparation for the reintroduction of direct bank transfers, Binance has emphasized improvements to its user verification requirements and compliance procedures.
What This Means for Australian Users
The return of real-time AUD transfers removes a major operational hurdle for Binance’s Australian users. Users can again move capital quickly between traditional banking and crypto trading accounts. The change brings Binance closer to parity with local competitors and addresses one of the most frequent usability complaints from its Australian customer base.
Binance Australia has framed the relaunch as a response to sustained customer demand for direct bank funding methods and as a way to better align its exchange services with the country’s domestic payments infrastructure.
READ MORE: Bitcoin Price Prediction as Strategic BTC Reserves Odds Jump
