Binance provides extra information on which bank deposit method is available for each specific fiat currency. Hover the mouse cursor over the tab on the main navigation bar, then select from the drop-down menu. To do that, visit Binance through the link and log in to your account. The process is simple, but there are some crucial steps to which you need to pay attention to avoid any delay in transaction execution. There are a few simple steps to follow to make a Dollar deposit from your bank to Binance.
How to Deposit US Dollars into Binance via SWIFT Followup digits after the first eight typically represent the branch number.
The first four letters of the code (BOFA) represent the name of the bank, and the next two (US) are the country code in which the branch is located, while the next two digits (3N) denote the locality of the institution. In a typical transaction such as an interbank deposit between a Binance user and the exchange, the recipient has to specify which bank to which they are making the deposit, and this is done using the SWIFT code.Īn example of a SWIFT code is BOFAUS3NXXX, representing one of the Bank of America branches.
The SWIFT’s membership community comprises over 11,000 organizations from more than 200 countries, with each organization receiving a unique identification code to be used for interbank transactions. Several entities make up the SWIFT community, including: The name is an acronym for the Society for Worldwide Interbank Financial Telecommunication. SWIFT is a communication protocol for banks to securely and accurately correspond across borders within a worldwide network.