Catenaa, Sunday, January 25, 2026- Binance has restored direct Australian dollar deposits and withdrawals for users in Australia, reopening PayID and bank transfer access after more than two years of disrupted banking services.
Reports citing the cryptocurrency exchange said the functionality is now available to all Australian customers following a phased rollout that began with a smaller group of users.
The move marks the first time since mid-2023 that Binance has offered direct fiat on and off-ramps in the country.
Australian users can now move funds between local bank accounts and Binance accounts in real time using PayID or standard bank transfers.
PayID allows payments through identifiers such as phone numbers or email addresses rather than traditional account details.
Local banks have taken a cautious stance toward crypto-related services in recent years, citing fraud and compliance concerns.
That approach led to the suspension of Binance’s banking channels, forcing users to rely on debit and credit cards, which increased costs and reduced flexibility compared with rival platforms that retained PayID access.
The return of real-time payments brings Binance closer to parity with competing exchanges in Australia and removes an operational constraint that weighed on user activity during the period of restricted access.
Binance said the renewed fiat channels are supported by Bolt Financial Group, an Australian fintech providing payments and banking infrastructure.
The company did not identify the banks involved.
The restoration follows a turbulent period for Binance in Australia that included regulatory scrutiny and the 2023 wind-down of its local derivatives business.
In late 2024, the Australian Securities and Investments Commission filed civil penalty proceedings alleging the misclassification of retail clients, reducing consumer protections.
Binance has reopened PayID and bank transfers for Australian users, restoring real-time dollar deposits and withdrawals after more than two years of limited banking access.
