How To Withdraw Money From Binance In The UK

If you’re using Binance in the UK and thinking, “How do I get my money out?” — you’re not alone.

A lot of people get confused about this part.

Whether you’re cashing out profits or just moving funds to your bank account, the withdrawal process can feel a bit unclear — especially with all the recent changes in regulations and services.

So, I’ve put together this step-by-step guide to walk you through exactly how to withdraw money from Binance if you’re in the UK.

Let’s get straight into it.

Is It Still Possible To Withdraw Money From Binance In The UK?

Yes — but with some changes.

Back in 2023, Binance suspended GBP deposits and withdrawals through Faster Payments and Skrill after issues with UK regulations and partnerships.

That caused a lot of confusion for UK users, myself included. But the good news is: you can still withdraw your funds, just not directly to a UK bank like before (at least not through the old methods).

Instead, you’ll need to use a workaround that still works perfectly fine. It just takes a few extra steps — I’ll walk you through everything.

Your Main Options To Withdraw From Binance UK

At the moment, here are the main ways to get your funds off Binance and into your UK bank:

1. Withdraw Crypto To Another Wallet/Exchange, Then Convert to GBP

This is the most reliable method right now. Here’s how it works:

Send your crypto from Binance to another exchange that supports GBP bank withdrawals (like Kraken, Coinbase, or Revolut).
Once the funds arrive, sell the crypto for GBP.
Then withdraw the GBP to your UK bank account.

I use Kraken for this because it offers Faster Payments, which means the money hits your bank account quickly (often in minutes). Coinbase and Revolut also work well.

How To Withdraw From Binance UK (Using Kraken As an Example)

Let me break it down in a way that’s super easy to follow:

Step 1: Create a Kraken Account

Go to Kraken.com and sign up.
Verify your identity — this usually takes just a few minutes.

Step 2: Transfer Crypto From Binance To Kraken

In your Kraken account, find your deposit address for the crypto you’re withdrawing (let’s say USDT or Bitcoin).
Head over to your Binance account and go to Wallet > Fiat and Spot.
Click Withdraw, choose your crypto, and paste your Kraken wallet address.
Choose the network carefully — make sure the sending and receiving networks match. For example, if you’re sending USDT via TRC20, it must be TRC20 on both Binance and Kraken.
Confirm the withdrawal.

Tip: TRC20 (for USDT) is often the cheapest and fastest option.

Step 3: Sell Crypto For GBP On Kraken

Once your crypto arrives in Kraken:

Go to Trade and convert your crypto (like USDT or BTC) into GBP.
You’ll now have GBP in your Kraken balance.

Step 4: Withdraw GBP To Your UK Bank

Go to Funding > Withdraw > GBP.
Add your UK bank account details.
Choose Faster Payments.
Enter the amount and confirm.

Done. Your money should land in your bank within minutes to a few hours, depending on your bank.

What About Direct Withdrawals From Binance To UK Banks?

As of now (July 2025), Binance still doesn’t support direct GBP bank withdrawals via Faster Payments or any local UK banking options. That’s mainly because of ongoing regulatory hurdles and service partner issues in the UK.

You can still withdraw via bank transfer in EUR using SEPA if you have a Euro account. But for most UK users, using a secondary exchange like Kraken or Coinbase is the easiest route.

Fees To Watch Out For

Let’s talk about the fees quickly — because no one likes surprises:

Binance withdrawal fee: Varies by coin and network. For example, USDT on TRC20 might cost around $1.
Kraken trading fee: Around 0.16% to sell your crypto to GBP.
GBP withdrawal fee from Kraken: Free with Faster Payments (for most users).

Compared to using crypto ATMs or third-party services, this method is super cost-effective.

How Long Does It Take?

Here’s what you can expect in terms of speed:

Binance to Kraken: 2 to 20 minutes, depending on the coin and network.
Selling crypto on Kraken: Instant.
Withdrawing GBP to UK bank: Usually within minutes, max a couple of hours via Faster Payments.

So, you can get your money into your UK bank within the same day — sometimes within 30 minutes total.

Is This Safe?

Yes — as long as you’re using legit, trusted platforms like Binance, Kraken, or Coinbase. Always double-check wallet addresses when transferring crypto, and make sure you’re using matching networks.

Also, keep 2FA enabled on both platforms for added security.

FAQs

Can I withdraw GBP directly from Binance now?

No, Binance stopped GBP withdrawals for UK users due to partner issues. Use another exchange like Kraken or Coinbase instead.

What’s the cheapest way to withdraw?

Use USDT on TRC20 to transfer from Binance, then withdraw via Kraken using Faster Payments — this usually has the lowest fees.

Is Coinbase better than Kraken for this?

Both work well. Kraken tends to have better fees and supports more networks. Coinbase is easier for beginners.

Are there daily limits?

Yes — limits depend on the exchange and your verification level. Kraken typically allows up to £100,000/day for verified users.

Can I use Revolut?

Yes — Revolut allows crypto trading and GBP withdrawals, though it may charge higher spread fees when converting crypto to fiat.

Final Tips

Always double-check the network when transferring crypto.
Start with a small test transfer if it’s your first time.
Be patient — the first time might feel slow, but it gets quicker once you’re familiar with the steps.

Conclusion

Withdrawing money from Binance in the UK isn’t as direct as it used to be, but it’s still totally doable. You just need to go through a trusted exchange that supports GBP withdrawals. I’ve done this myself several times now, and once you’ve done it once or twice, it becomes second nature.

So, what crypto are you planning to cash out — and which method are you thinking of using?