SEPA credit transfers are back on Binance. All European users of the platform, with the exception of the Dutch and the Swiss, can now benefit from this type of transfer again. For this occasion, the transfer fees will be fully covered by Binance until the end of the month.
Binance reintroduces SEPA credit transfers
After the abolition of the SEPA (Single Euro Payments Area) mandates by Binance in July 2021, they returned to Europe on 26 January, starting with Belgium and Bulgaria. A gradual return to other European countries was announced at the time.
Binance announced today via a press release that SEPA mandates are available again across Europe, with the exception of the Netherlands and Switzerland. The UK is no exception, as SEPA transfers support both the euro and the pound sterling.
It should be noted that for the time being, SEPA transfers are only available to individuals. However, the press release states that Binance is actively working with its partner Paysafe to extend its services to businesses.
The SEPA payment method should delight many users. Indeed, it allows to deposit large amounts of money on the platform for an attractive price. Note that to celebrate the return of the SEPA transfer, Binance will cover the transfer fees for all users who have completed the identity verification process (KYC) until the end of March.
Binance is on all cylinders
Rather battered last year by various financial and judicial authorities, Binance has been consolidating its structure since the beginning of this year through a myriad of collaborations in the 4 corners of the globe.
The platform has been noticed for its 2 recent partnerships in South Korea with YG Entertainment and SM Brand Marketing, 2 of the 3 biggest management companies in the country and which produce world famous K-pop groups.
The platform has also decided to place itself in favor of the various international regulators, as evidenced by the entry of the director of Binance in Russia into the Association of Banks of Russia. As an additional security measure, the platform also announced in late January that its security fund had reached $1 billion.
Also in a bid to bring in a new wind, Binance also unveiled the “BNB Chain”, which now replaces the Binance Chain and the Binance Smart Chain (BSC) in order to materialize the opening of the platform to the metaverse and to Web 3.0.
