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Thomas StelzerUpdated
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Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
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Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
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Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
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Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
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As one of the world's biggest cryptocurrency exchanges, offering over 440 cryptocurrencies, Binance shocked users in June 2023 when it announced it would no longer allow you to deposit or withdraw Australian dollars via bank transfer.
But it has since restored this option. You can now withdraw and deposit Australian dollars via bank transfers or PayID.
There were still options available to withdraw your holdings from Binance and back into AUD, but now, you can also easily withdraw it to your bank account.
You have 4 main options if you have your crypto on Binance Australia:
To withdraw from Binance to your bank account, you need to first convert crypto to fiat (like AUD) in your Spot Wallet, then select 'Withdraw' for that fiat currency, choose 'Bank Transfer,' link your bank (name must match), enter the amount, and confirm with 2FA; the process involves converting crypto to cash, then sending that cash via bank transfer, taking 1-5 business days.
Since October 2024, Binance lets Australian users sell certain cryptos directly for AUD to their debit or credit card via the crypto payments provider Paymonade.
While this can be a convenient option for those looking to sell their crypto as simply as possible, it does come with high fees. When we tested it, it seemed to be charging a fee of around 5-6%. If you're looking to sell a large amount of crypto, this might not be the most cost-effective method.
You can also list your crypto for sale on AUD using Binance's P2P marketplace, but it will only be sold if there is a buyer willing to match your offer.
You can easily withdraw your cryptocurrency and move it to another Australian exchange. You can either leave it there, or sell it and withdraw AUD from the new exchange.
You can compare a list of the best exchanges in Australia in this guide. All of the exchanges in this list (excluding Binance) accept AUD.
If you are looking for an exchange with a similar range of coins to Binance that also offers AUD withdrawal, then you may want to consider CoinSpot, Swyftx or Coinstash.
Some exchanges, like Swyftx, also offer free transfers from Binance provided you transfer your coins using an API key.
Choosing an exchange with a wide range of coins makes it more likely that they will be able to accept the assets you have stored on Binance.
Once you have chosen a new exchange, you can withdraw your crypto from Binance by doing the following (note that these instructions are based on using a computer with the desktop version of the exchange).
Remember that cryptocurrency transactions are irreversible, and you cannot recover lost funds. Reach out to either exchange's customer support team if you're unsure about what you're doing at any point.
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How we picked theseSelf-custody is a cornerstone of cryptocurrency.
Self-custody refers to storing your cryptocurrency in a wallet that only you own the private keys to. Private keys can be thought of like a special, extra secure password.
This is the opposite of keeping your crypto on an exchange, where the exchange ultimately controls your private keys and therefore your crypto.
By transferring your funds off an exchange and into a wallet, you help reduce the counterparty risk associated with an exchange.
The most secure way to store your crypto like this is with a hardware wallet – a specialised device similar to a USB drive.
Hardware wallets cost money (starting from about $76 AUD), but are considered the most secure way to store cryptocurrency and should be seriously considered by anyone who can't afford to lose their investment.
Read more: Compare the best hardware wallets in Australia
Alternatively, there are a range of free software-based wallets which run on a smartphone or computer.
You can read more about hardware and software wallets in our dedicated guide.
Mind you, self-custody isn't for everyone. It requires a bit of learning to get started, and the burden of responsibility shifts from the exchange to you.
You need to safely secure your backup seed phrase, which is the only way to regain access to your wallet in the event you lose your private keys or password.
There is no customer service team that can restore access to your wallet if you lose access to the private keys, unlike an exchange which usually just requires a selfie with photo ID to reset a password.
"Binance remains one of the world's leading crypto exchanges for liquidity, trading fees and number of markets, which makes it a popular choice with a lot of investors."
If you plan to store your cryptocurrency long-term, then it's generally advisable to move it to a self-custodial wallet.
However, if you plan to continue trading frequently, you may want to keep in on an exchange.
The only change to Binance's services in Australia is AUD deposits and withdrawals from bank accounts. You can still trade as normal.
Mind you, it's worth noting that Binance is under regulatory pressure in the US and in several other jurisdictions which may cause disruptions to its services in the future.
Also keep in mind that no exchange is 100% secure, and always at risk of hacks or human error.
You can now once again withdraw AUD directly from Binance, and you can still move your crypto to another Australian exchange (like CoinSpot or Swyftx), or sell for AUD using Paymonade or Binance’s P2P marketplace.
Yes, as of January 2026. Prior to this, Binance did not support AUD bank withdrawals (from June 2023), but you could withdraw funds indirectly by transferring your crypto to another exchange that allows AUD withdrawals, or by using third-party payment providers.
Binance faced regulatory challenges and lost its local payments provider in mid-2023, which led to the suspension of AUD deposit and withdrawal services for Australian users. As of January 2026, that suspension is no longer in effect and users can withdraw and deposit via Australian banks again.
Yes, you can directly deposit AUD into your Binance account, as of January 2026. Binance is gradually rolling this out from January onwards.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance. See full bio
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Hi
I am having issue trying to take my money out of binance aus
can you assist in anyway with this?
Hi Bill, We’re not able to provide any advice beyond the information in this guide. It’s a really tricky situation, your best bet might be to try and contact Binance Support? Best of luck!