How to Withdraw from Binance to UAE Bank Account
Bitcoin and other Altcoins are currently going through a massive bull market where many people are making a lot of money on most of the currencies and tokens.
One of the most famous and reliable platforms to trade cryptocurrency in UAE and worldwide is Binance. This platform has gained popularity recently in the UAE due to its wide of coins and tokens they offer. However, the trending question among traders and investors nowadays is how to withdraw money from Binance to UAE bank account as there is no direct withdrawal option from Binance exchange to UAE banks.
In this article, we will solve this problem and provide a step-by-step guide on how to withdraw your money from Binance to your UAE bank account. So, let’s dive in:
1. Go to Wallet and choose Funding Wallet:
From your homepage, on the upper menu, hover over the “wallet” and select “Funding wallet”
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2. Choose the Currency You Want to Withdraw:
After choosing Funding wallet, choose the currency you want to withdraw. We will USDT as an example to our guide. Then, from the upper menu, choose “Transfer”
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3. Transfer to Funding Wallet:
Choose the amount of USDT you want to transfer from Spot wallet to Funding Wallet
Read more: Best trading apps in UAE
4. Sell your USDT through P2P:
From the same menu, choose “Buy/Sell”. This will take you to Peer to Peer transactions P2P
Read more: How to buy US Stocks from UAE (2023 Update)
5. Choose Selling option:
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6. Change Currecncy:
Put your desired currency. It will be AED in our example.
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7. Choose Bank Transfer:
Choose the “Bank Transfer” payment option. There are many other options such as cash deposit to your bank account, Skrill and Western Union.
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8. Finding the Right Peer:
Find the best exchange rate, and choose the peers with the highest completion rates as they should be more reliable, and then click “Sell USDT”.
Read more: How to Invest in ETFs from Dubai
9. Choosing the Quantity:
Choose the quantity of the USDT you want to sell, and click “Set a Payment Method”
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10. Add a Payment Method:
After choosing the USDT You will be directed to a page where you need to add a payment method. Choose a bank transfer as a payment method.
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11. Provide Your Bank Account Details:
Put your bank account details. Be accurate as you don’t want to enter wrong figures and ending up stuck with this transaction.
Read more: How to Invest Index Funds from Dubai
12. Finalizing your Transaction:
After that you would need to wait a several minutes so the buyer would have time to transfer the money to your account. Once the money are transferred by the buyer, you will be notified that your transaction was successful.
Finally a useful and a straight forward article , thanks a lot for sharing
Most Welcome. Glad it helped. Do let us know if you have any questions, you can send us an email on info@thefinancedean.com
Hi, with the bank transfer tho… how do I make sure the other party really did tansfer the funds? do I wait for the money to reflect on my bank account before clicking ok on my end? but it usually will take an hour or so doesnt it?
Hello Bahati, yes, your crypto will not be transferred to the buyer until you confirm that you received the funds. You will get a notification once the buyer transfers/deposits the money in your account, and after that you can check and click confirm on that notification, then only your crypto will be transferred. Hope that helps!
Thanks for the answer much appreciated
Do u need to sell and change currency to aed or can just transfer to bank account in uae
very clear and easy steps Thank you.
Thanks a lot Talal for your comment. We are glad you found it useful!
This is p2p but cant we withdraw direct to bank account from binance like it done in us uk ..
I think bitoasis sy direct withdraw hojata in bank
Hi Adnan,
Binance in UAE doesn’t support the direct transfer to UAE bank accounts yet. And yes, from a Bitoasis account you can withdraw directly to your bank account. Hope that helps!
Hi. So basically, I can transfer my coins from Binance to BitOasis, then from BitOasis I can withdraw to my UAE Bank account?
Let’s say I have ADA in Binance, I can see that BitOasis does NOT have ADA listed there, does this mean I have to trade my ADA to any coin that BitOasis supports, and then I can withdraw to my bank account?
Yes Sam exactly. You can transfer to USDT for example
Is using the IBAN better than using your Bank’s account number?
Hi There, depends on the payment method you are accepting. If it’s a bank transfer, then IBAN has to be there, if only a deposit in the account/ATM, then Bank account is enough. Hope that helps
What are the fees if for example i withdraw 1000usdt how much will i be left with after transactions, is it fixed or based on %?
Hi John, if you are an ad maker, there would be a fee up to 0.35%. However, if you are a taker, it means that if you choose an existing as or offering from someone else, and you sell your crypto on P2P, there would be no fees. Hope that helps!
Can I withdraw money in my salary account ? I have mashreq neo (salary account)
And what should I choose to withdraw money in my salary account.
bank transfer or cash deposit ?
Hi Farhad, yes of course you can. You can choose both options. Whatever is more convenient to you!
How long it take to receive the money in my NBD bank account
Hi Sabrina, should be within a few minutes once the buyer issues the transfer!
So you do need to wait for a buyer first before the money goes to your bank account? So withdrawing the money to your bank account might not happen instantly?
Hi there, yes you need to wait for the buyer to transfer/deposit the money. This is the only way in the time being. However, so many people are withdrawing their money in this method and it’s quick and working very well (but always do your own research and diligence and choose buyer with higher completion rates to be on the safe side)
Hey, I went through the above steps (very useful) but when I wanted to select a payment method, I couldn’t find any of the UAE banks listed (my bank is Emirates NBD). Do you know what is the reason for that? Could it be that the payment methods shown are related to the country of residence in the binance account? For context I setup my account when I was in the UK but now I’m living in the UAE.
Thanks!
Hi Mo, yes most probably it is related to you address, because Emirates NBD is available in the banks list for sure. Change your address and it should work smoothly. However, I would advise you to chat with their support team before changing and they will help for sure. It might take a bit to get a response on the chat with support team, but we it’s worth waiting to fix this issue 🙂
hi Mo,
just change your currency from euros / pounds to AED and then go to payment method.
so you can see NBD bank would appear
Thank you! I was never able to transfer back to my bank account. I always thought I needed to use BitOasis to be able to transfer back.
Thanks. Glad it helped
Is there any limit to the minimum amount that can be transferred?
Is it ok and legal to do this process of bank transfer in the UAE. Even if a salaried expat? Do I need a trading license or something for making such investments and withdrawing. Silly question but it’s my first time thus asking.
Hello Moro, yes it’s totally legal and you don’t need any trading license to trade cryptocurrency in UAE. If you have any doubt, please send us an email on info@thefinancedean.com and we can explain to you anything you want. Hope that helps!
Hi Mate, my Binance account created from India and currently residing in Abu Dhabi. Can I add my UAE bank account (Abu Dhabi Commercial Bank) in Binance without changing my Indian address and phone number which is working in UAE.
Thanks in advance
Hi Mate, my Binance account created from India and currently residing in Abu Dhabi. Can I add my UAE bank account (Abu Dhabi Commercial Bank) in Binance without changing my Indian address and phone number which is working in UAE.
Thanks in advance
can youn fait from uae bank acccount to binance?
Hi Khal, not yet available
Will this be the process with any crypto or just USDT?
Hi Joel, any crypto
hello ,, what kind of UAE bank account can use for withdraw from binance??
Hello, any bank in P2P can work
Hello this bank transfer from crypto to uae bank account has happened already especially for a normal person like me who did investing in crypto?
I mean is this authorize in UAE?
Hello this bank transfer from crypto to uAe bank account has happened already especially for a normal person like me who did investing in crypto?
Dear FD,
Can you confirm the amount of Tax deduction in uae if i withdraw or transfer it to my UAE bank account.
Hi Hamid, taxes are based on your home country. However, if your home country don’t require taxes on the money you earn outside your country, then there would be no taxes on your withdrawals in the UAE. Hope that helps!
If no bank account than how withdra in uae
Nice question
You can choose other payment methods such as western union
is this still the only way? cause i saw another way where you go to fiat/spot wallet then withdraw then select bank transfer. so i want to know if this way is also possible?
Hi Nadim, it’s still the only way unfortunately!
hi guys, newbiw here. how can i transfer money from my uae AED current account to binance and secondly how do i receive funds back to this account.
pls assist
Can i ask please? Its legal to transfer from binance in uae to bank account p2p right.. and if the amount in big the bank wont freeze the account and ask about it?
Hi Mahfouz, we sent you an email to answer your questions. Hope it helps!
Would you guys send me an answer to the same question regarding big cash withdrawals/transfers? Thanks
Hi can you please send me the answer to this question as well, i don’t want my account to be frozen after transferring funds to binance.
Can you please send me the answer to the same question. This is very important to me. Thanks
Hello dears,
i have withdrawn my money thru fiat and entered my uae bank account.. it has heen 18 days and i didn’t recieve my money.
could u advise here pls. what shall i do?
Hi Moe, was it through P2P you mean?
Hi,
I have some coins in my trading wallet and would like to withdraw the profit from them; however, when transferring to my Binance account, I was advised to pay a tax of 10% of the total wallet amount. How do I initiate the tax payment process?
Hello! i still havent received my funds, i transferred BUSD to my Emirates NBD account via funding option and then Binance P2P: Buy/Sell Your Crypto Locally option. i checked on sell and chose the highest rated buyer. do you think it takes time?
Hello, answered to your email! hope your issue has been resolved by now
Hello. The video instructions and the written instructions are different from each other. Which one should we follow?
Hi Sheri, the article is the updated one. After recording the video, the platform has been slightly changed.
I m residence in UAE
Can i work binance legally in UAE normally like deposit, transfer and withdraw with local back accounts? Plz advise
great content, i like it. Thanks for the article.
Thanks a lot for your kind comment. Appreciate it!
Hello, thanks for the useful straightforward article, very useful. Will I be taxed on the amount that I receive in my bank account ? I’m not familiar with Dubai’s laws yet.
Hi Amir, thanks for your kind words. Regarding taxes, it all depends on your country. If your home country doesn’t impose taxes on Gaines outside the country, then from the UAE there are no taxes. Hope that helps!
hello mate, I am bank with HSBC uae, and my account currency is USD. can i use my debit card for direct deposit and withdrawals from binance? moreover, p2p sellers always make note that dont write any comment in payment reference like binance , crypto, usdt etc why is that?
Hi Khurram, you can use your debit card for deposits not for withdrawals since you can only withdraw through P2P. And regarding not mentioning in the payment reference, that’s because banks might block the transaction
I am unable to get my funds from Binance till now (since 10 days) in my UAE bank account, and of course no customer response from Binance!! just ridiculous.
Hi Naser, did you withdraw through P2P?
also when transferring to EmiratesNBD for example, Binance does not accept the SWIFT code, I used BIC routing code instead, however, no funds so far.
if i have a dollar account in dubai can i take dollars instead of AED. also will my account freeze if i take a lot. example: 1million$
It is truly bad how binance support is. Also, Binance stopping to directly transfer money to and from UAE is outrageous, specially for people who invested in Binance
The buyer after I set the payment as bank transfer and entered details of bank acount
Ask me to share the IBAN number ¡¡¡
Is that ok??
Yes that’s ok
Hello,
Can we withdraw from Binance to an HSBC Account in UAE?
I have DIB card. Will DIB freeze my account if i buy crypto direct through my card?
As per the feedback we hear from our viewers, no DIB is not freezing accounts that are trading Crypto – however, we urge you to check with them before you make any transaction since banks internal rules keep on changing regularly
My only comment is after you create the bank details how to go back to the same page where you were trying to sell. in my case i had to repeat the process from 1 to 9 and choose another seller and now i am not sure if i did it sell twice.
Hello, in the UAE, should taxes be paid for the profit of buying and selling in Bainance?
Hi there, for non US citizens, no taxes shall be paid on Crypto capital gains in the UAE
Hello, in the UAE, should taxes be paid for the profit of buying and selling in Bainance?
Hi Taheri, for non US citizens, no taxes shall be paid on Crypto capital gains in the UAE
Why do most p2p traders say do not mention not to mention crypto or binance on bank transfers within UAE ? Is there an issue in doing so?
Hi there, some banks used to stop transactions related to Crypto, that’s why they put this comment
i need to withdraw money from my index account to binance, how will i do that.. i was trading in Koodefi.com, now my money is stuck in this account i need to release from here can any one help me
they are scammer man . they did the same for me
but i think know they open binance office inn dubai
in dubai have binance office
Hi would this also work for Saudi or not. If not could you tell me a way to withdraw to Saudi bank account??
Hi, it works in Saudi yes
Hi, Binance doesn’t produce a proper account statement, with full name, Emirates ID, user ID details etc.., so I suspect it cannot be accepted by banks in the UAE (Emirates NBD?) particularly with large transfers. Also if it does get accepted in the UAE, it may not be accepted as I transfer funds back to my home country in North Africa. What’s your experience here?
Fahad
Hi im using binance app and i have transfered from my spot wallet to funding but for some reason it when i use p2p to sell the balance shown is zero. Why is that? Am i doing something wrong.
PS need to transfer to UAE BANK acoount
How can I transfer my fund from index trading account (Koodefi.com) to Binance..Kindly advise..
I was trading through Koodefi.com index trading account. Now my funds are stuck in it. I cannot to able withdraw the funds to Binance. Kindly advise..