Binance Australia restores AUD deposits and withdrawals for local users

The exchange has restarted bank and PayID deposits and withdrawals for local users through a partnership with Bolt Financial Group, bringing back AUD transfers after two years without full banking links.

Fiat payment rails went live for Australian customers on Jan. 16, 2026. Until now, users had been limited to debit and credit cards for fiat deposits and withdrawals since mid-2023. The company outlined a phased rollout that began with a small group last year, citing user feedback and compliance checks.

“Through our new partnership with Bolt Financial Group, we are now pleased to reintroduce secure, reliable fiat payment rails for our Australian community,” noted Matt Poblocki, general manager for Binance Australia and New Zealand. He added that the rollout has been gradual to “fortify our compliance controls” and improve the user experience.

Binance Australia’s access to banking services was curtailed in 2023 when its payments provider withdrew support. At that point, the exchange stopped Australian dollar deposits and withdrawals by bank transfer and removed all AUD trading pairs, leaving cards and crypto transfers as the main alternatives. The company has noted that Australian banks have at times refused services or placed restrictions on transactions linked to crypto platforms. The third-party provider, Cuscal, did not specify its reasons at the time and later stated it was working to limit scams and fraud, with plans to terminate clients that did not meet onboarding and compliance requirements.

The exchange has positioned the return of bank transfers as a way to reduce friction for local users moving funds between bank accounts and the platform. According to the company, restricted fiat access slowed participation and activity among Australian customers.

Industry polling in 2023 indicated strong demand for simpler fiat options, with 58% of respondents wanting easy deposit access without limits and 22% reporting they had changed banks to make buying crypto easier.

On the company’s podcast on Friday, Poblocki described the outlook for 2026 as centered on “regulatory consistency and certainty for the market.” He added, “Preempting 2026 I think fiat is our foundation now, and from that foundation will be a lot of other things that we start bringing to the market, listening to our users, reacting and responding a lot more and probably faster as well.”

Binance Australia said the restored bank transfer and PayID channels are available nationwide and will expand as the rollout continues.