I tested a transfer, withdrew 3000U from #币安 to ZhongAn Bank, received 2961 USD, with a total loss of about 1.3%.
The operation process is as follows:
First step: enable Binance $BNB 'Sell to Fiat' feature
● Open the Binance APP home page, enter 'Sell to Fiat' in the search box and click search
● Click on 'Sell to Fiat' in the search results, and click to enter the activation page;
● Follow the prompts to complete the process, submit to activate!
Second step: #USDT exchange #usd (no handling fee!)
● After enabling the feature, select the exchange currency on the 'Sell to Fiat' page: USDT → USD
● Enter the exchange amount, confirm the exchange rate, and submit the order.
Step 3: Transfer USD to the bank account (1 day for arrival)
● It is not recommended to use physical banks like Bank of China Hong Kong or HSBC directly! Physical banks have strict risk controls and are prone to account freezes;
● You can try virtual banks like ZhongAn Bank and Ant Bank (the risk control is not so strict, and the operation is simple);
● Open the ZhongAn Bank APP, copy the account name, account number, SWIFT code, etc., and paste it into the Binance transfer page.
● After submitting the transfer application, please patiently wait for the funds to arrive. Estimated arrival time: 1 working day (submissions on working days are faster, weekend/holiday submissions may be delayed);
After using it, here are a few reminders:
● Transaction fees start at 25 USD, which is not cheap;
● Limit of 6600 USD, exceeding this requires additional KYC certification;
● Ensure that the bank account supports receiving overseas USD remittances to avoid being returned;
● Ensure that the information is filled out accurately during the transfer (name, account number, SWIFT code), as incorrect entries may cause delays in funds;
● Although there are no fees for exchanging USDT to USD, there is a 0.08% exchange rate difference. Transferring USD to a Hong Kong card via SWIFT will incur a fixed fee of 25 USD.
Announcement regarding the reduction of withdrawal fees for USD via Binance SWIFT
Dear users:
In order to continuously enhance user experience and asset convenience, Binance has significantly reduced the fees for withdrawing USD via SWIFT bank transfers starting from today.
Whether for individual users or corporate users, the SWIFT bank transfer fee for USD withdrawals will be reduced from 60 USD per transaction to 25 USD. Deposits of USD via SWIFT bank transfer will still be free of charge.
Note:
Binance does not charge any fees for USD deposits via SWIFT bank transfers, but your local bank may charge corresponding fees.
The English original announcement and the translated version may differ. If there are any discrepancies, please refer to the English original for the latest or most accurate information.
This article does not constitute any investment advice.
