The following are the answers to the frequently asked questions (FAQ) on doing bank transfers with Xfers Direct:
1. How does Xfers Direct benefit you?
Xfers Direct will enable you with the following:
- Top up your Binance Cash Wallet without the need to leave Binance Singapore
- Receive your deposits in your Binance Cash Wallet within minutes with FAST transfers
- Enjoy unlimited daily transfers with a cap of S$20,000 per transaction for both deposit and withdrawal
2. Will I need to pay any fee for making a deposit and withdrawal with Xfers Direct?
Please refer to the fee schedule below:
- Deposit: No fee will be charged
- Withdrawal: A fee of 0.55% will be charged
3. How is deposit done with Xfers Direct?
Follow the steps below to make your deposit to your Binance Cash Wallet with Xfers Direct:
- Complete your KYC
- Select “Deposit” to find the wire transfer payment instructions
- Initiate a FAST transfer from your bank account using the wire transfer payment instructions
Your Binance Cash wallet will be credited within a few minutes.
If you have any questions about your deposit, please provide information on your deposit to the support team at Xfers via here.
4. What should I do if my deposit is not credited into my Binance Cash Wallet?
Please provide information on your deposit to the support team at Xfers via here. Binance Singapore will credit your funds to your Binance Cash Wallet once Xfer’s support team provides us with the information.
5. How are funds transferred from my Xfers Wallet to my Binance Cash Wallet?
No, you are unable to transfer your funds directly from your Xfers Wallet to your Binance Cash Wallet. This feature is not supported by Binance Singapore.
6. How are funds withdrawn from my Binance Cash Wallet to my Xfers Wallet?
No, you are unable to withdraw your funds from your Binance Cash Wallet to your Xfers Wallet. This feature is not supported by Binance Singapore. However, you are able to withdraw funds to your bank account through inter-bank transfers.
7. Which wallet should I use for buying/ selling cryptocurrencies on Binance Singapore?
Please use your Binance Cash Wallet for buying/ selling cryptocurrencies.
8. How long would it take for each transfer of funds?
Please refer to the transfer schedule below:
Deposit: A few minutes
Withdrawal: 1 hour
Please kindly allow some time for the processing of your funds and do not make a repeated attempt again.
You can refer to here for more information about Xfers Direct. If you require any help from Xfer’s support team, please refer to here
Please reach out to us via here if you would require any support, thank you.
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