According to the announcement made today, European users of Binance, excluding those in Switzerland and the Netherlands, will now be able to make deposits and withdrawals in both Euros and British pounds starting on Monday, March 7th, using the Single Euro Payment Area (SEPA) and Faster Payment Services (FPS) rails on both the desktop and mobile platforms.

Individuals in Europe will be able to transfer euros and pounds using their bank accounts thanks to SEPA and FPS. However, at this moment, support for corporate and business accounts is not available.

[embed]https://twitter.com/binance/status/1500790236749922308?t=FgKbxxq5GDfUmfZwmQzHRQ&amp;s=08[/embed]
<h2><strong>Celebrating With Zero Deposit Fees</strong></h2>
To commemorate the reintroduction of SEPA and FPS, <a href="https://www.cryptoknowmics.com/news/binance-launches-fiat-to-crypto-payment-provider-bifinity/">Binance</a> will waive all fees for all verified customers who deposit EUR through SEPA and GBP via FPS until the end of this month, regardless of how much they deposit. For transfers to be credited, users must transfer more than 3 EUR or 3 GBP.
<h2><strong>Regulatory Issues in Europe For Binance</strong></h2>
Following the regulatory issues that hampered the exchange's operations last year, the news signals Binance's resumption of fiat trading in Europe.

The exchange has been under intense investigation from a rising number of authorities across the globe, particularly in Europe, who are concerned about the potential for cryptocurrency to be used to launder money and the hazards to consumers posed by unpredictable cryptocurrency trading.

The platform has been under intense investigation from a rising number of authorities across the globe, particularly in Europe, who are concerned about the potential for cryptocurrency to be used to launder money as well as the hazards to consumers posed by unpredictable cryptocurrency trading.

Several banks and payment services in Europe and the United Kingdom also severed relations with the crypto exchange last year, resulting in the suspension of withdrawals and the drastic restriction of withdrawals on a lot of customer accounts.

Binance Reopens EUR and GBP Bank Transfer In Europe Through SEPA and Faster Payment

Binance reopens EUR and GBP bank transfer through SEPA and Faster Payment, waives all fees for all verified customers until March 31st.

Kay is a content specialist who has a particular interest in the finance and cryptocurrency industries, among others. He is a frequent contributor to a number of finance and cryptocurrency-related websites, where he offers readers with informative and educational articles on the cryptocurrency and financial markets. Aside from that, he is an avid supporter of blockchain technology.

Binance Reopens EUR and GBP Bank Transfer In Europe Through SEPA and Faster Payment

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