Binance begins limiting access to SEPA customers more than a month ahead of announced deadline
Aug. 21, 2023
By Jacob Oliver
The exchanges support for SEPA area countries had been slated to end Sept. 25 but some have seen their accounts disabled more than a month in advance.
Binance has started the process of early account closures for a select group of its customers within the SEPA (Single Euro Payments Area). This move comes ahead of the previously announced termination of SEPA services on 25th September 2023 due to disruption with their EUR Fiat payments partner, Paysafe.
Several Binance users in the SEPA region reported receiving emails regarding the early closure of their accounts. According to an email sent to customers, specific “high frequency Paysafe services user[s],” these accounts would be closed early “to speed up the refunding process and to make sure that everything is in order,” before promising refunds “as soon as possible.”
A Binance spokesperson confirmed the early closures in a comment emailed to CryptoSlatae:
“The SEPA deposit and withdrawal service will continue until 25 September as originally communicated. As we approach that date, some users may occasionally be asked for more information as part of routine compliance checks, which could lead to early closure of their accounts. We apologize for the inconvenience and it is important to note that we will have alternatives for our users in place before the end of the SEPA service.”
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