Binance, Exchanges

Why Are My ACH Deposits Failing on Binance?

If you’re a US-based customer of Binance, you may have noticed that your ACH deposits have been failing recently. There are a few possible reasons for this:

1) The ACH system is currently backlogged. This is due to an increase in the number of ACH transfers being made in recent weeks, as more people are working from home and using online banking services.

The ACH system is not able to keep up with the demand, and as a result, some transfers are being delayed or rejected.

2) Your bank may be blocking ACH transfers to cryptocurrency exchanges. This is because banks are becoming more cautious about crypto-related activities and don’t want to risk facilitating money laundering or other illegal activities.

If your bank is blocking ACH transfers to Binance, you’ll need to use a different method of deposit, such as wire transfer.

NOTE: WARNING: Depositing funds using ACH transfers from your bank to Binance is a highly complex process and may fail due to technical issues or bank policies. Before attempting to deposit funds via ACH, please ensure that you have completed all of the necessary steps on Binance, including providing the correct information and ensuring that sufficient funds are available in your bank account. If your ACH deposit fails, contact your bank immediately and confirm that they have not blocked the transfer.

3) There may be an issue with your Binance account. If you’ve recently changed your address or phone number, your account may need to be verified again.

You can do this by submitting a support ticket.

If your ACH deposit is failing, it’s likely due to one of these three issues. You can try again later when the ACH system is less backlogged, use a different method of deposit, or verify your Binance account if there’s an issue with it.

Previous ArticleNext Article