Binance Deposit Failed? See Why & How To Fix It
For many, Binance is the main exchange to perform transactions related to crypto assets.
Signing into this digital asset exchange is really easy, and so is making all kinds of operations.
For example, customers can withdraw their funds, perform trades, access a wide variety of cryptocurrencies, and more.
But nothing is perfect, not even the biggest crypto exchange in the world.
That’s why learning how to resolve a problem it’s fundamental for having a good crypto experience.
If you are attempting to get money deposited into your Binance account, but an error message shows up, then this article is for you.
Keep on reading to get more information about the following matters:
- Binane deposit failed? Learn how to solve it;
- Different bank transactions and error messages;
- Alternatives for getting a transaction problem fixed in Binance.
Was Your Bank Account Deposit Successful?
If you want to get started in the cryptocurrency world, then Binance is probably your best shot.
Depending on the country you live in, you might or might not get access to all Binance’s features.
Clearly, if you want to buy crypto, you first need to add a payment method.
If that payment form is your bank account, then your account must be fully verified.
Binance KYC Verification Process is a must that you must complete on the Binance website before trying to add funds to your balance.
Either way, your Binance’s deposit history will show you up-to-date news about your submitted deposits.
If your past deposit is locked, rejected, or successful, the system will show it to you on the following page: Binance Deposits.
So, before you sign in and submit a request for a transfer problem happening, you better first check the deposit page in order to see the actual status of your bank account transaction.
Binance Deposit Failed: How to Fix It
Now, before you proceed to Delete Your Binance Account out of rage, it’s necessary to check if your payment method is working as it should.
Maybe you don’t have enough balance in your account, or perhaps the request for the deposit wasn’t submitted correctly.
In any case, don’t get your account deleted just yet!
You can still trade, sell and buy crypto with cash in Binance, so the advantages outweigh the disadvantages.
Pro Tip: You can start withdrawal money deposits from Binance to your bank account after you trade or sell your cryptocurrency.
If, for example, you want to turn your Bitcoin into fiat money, you can do so!
Learn how to do it by reading our Withdraw Money from Binance to Bank guide.
1. ACH Payment Method Failed Due to Insufficient Funds
U.S users usually prefer using the ACH payment method because it is the most efficient one of them all.
As we mentioned before, you need to verify your identity before getting a deposit initiated.
Nonetheless, if the “insufficient funds” error appears, then you need to proceed with the following fixes.
Fix 1: Check that You have Enough Funds in Your Bank
First, log in to your account and check the overall status of your deposit.
If you don’t have enough money in your bank, then there’s no way for the transaction to take place correctly.
In fact, before you even accept to make a transfer to Binance, this is the first thing you must check.
Binance recommends having at least 110% of the funds you want to transfer.
Fix 2: Delete and Reconnect Your Payment Method on the Platform
Now, let’s say that insufficient funds aren’t the problem, but you still can’t get the problem fixed.
In this case, you need to delete and reconnect the form of payment before proceeding.
You can learn how to delete and reconnect your account by reading this official Binance Guide.
Fix 3: Proceed to Complain with Your Bank Provider
If you do have enough funds, and, for example, you have already tried everything, then the problem is related to your bank provider.
Don’t hesitate and go talk to them!
2. Wire Transfer or Other Deposits Didn’t Arrive
If you are not using ACH as your main payment form, then try the following fixes on your account.
Read Also: Crypto.com vs. Binance - which one is really better?
It depends on your goals, but knowing the crucial differences between the two platforms is fundamental for making a firm decision when it comes to managing your funds.
Fix 1: Check if There Are Problems Reported with the Fiat Network
If you submit a past transfer and it hasn’t arrived at your account yet, then there might be a problem with the fiat network.
Keep in mind that these problems are out of Binance’s control and reach, so you must wait patiently for the issues to be solved.
Fix 2: Submit a Ticket to The Support Team
At last, your last resort alternative is to contact Binance support.
The Support Team will help you only if the problem has persisted for more than 72 hours.
In that case, you need to fill a support form. You can fill in this form by clicking here.
Nonetheless, keep in mind that Binance Support receives thousands of requests every day, so their response might take a while.
Anyhow, these fixes should get your problems solved as soon as possible.
Finally, remember to never make a deposit twice if the first one hasn’t arrived on your Binance profile yet!
Did you like this article? Check our site for more amazing Binance-related content!
Binance Deposit Failed FAQ
Can Binance Support Team Recover My Missing Crypto?
Missing cryptocurrencies cannot be recovered.
Risk management is a fundamental part of the cryptocurrency world, so there will always be a risk related to your cryptocurrency transactions.
Thus, due to the decentralized nature of crypto assets, not even Binance Support can help you recover missing cryptos sent to the wrong address.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.