TL;DR
- Binance Australia restored Australian dollar deposits and withdrawals via PayID and bank transfers using BSB details.
- The service returned through a partnership with Bolt Financial Group, following a gradual rollout carried out during the final months of 2025.
- The disruption began in 2023 after Cuscal exited, forcing users to rely on cards and P2P trading.
Binance Australia restored direct Australian dollar deposits and withdrawals, ending nearly two years without full access to fiat services for local users. The exchange confirmed that verified customers can once again fund and withdraw accounts using PayID and standard bank transfers with BSB and account numbers.
Key Partnership With Bolt Financial Group
The service restoration was made possible through a new partnership with Bolt Financial Group, which now provides the local bank transfer infrastructure. Binance said the system was rolled out gradually during the final months of 2025 to a limited group of users and became fully available to all verified customers in Australia as of January 2026.
PayID transfers and direct bank deposits are currently available with zero fees. The exchange did not announce changes to withdrawal conditions or specific limits tied to the restored methods, beyond standard verification requirements.
Access to fiat services had been interrupted in mid-2023, when Binance Australia’s former payments partner, Cuscal, ended its relationship with the platform. This left users unable to deposit or withdraw AUD through the traditional banking system. During that period, available alternatives included debit cards, credit cards, and peer-to-peer markets, which involved higher costs and weaker integration with the local financial system.
Binance Responds to User Demand
The suspension of bank transfers affected the platform’s day-to-day operations in Australia, as direct bank funding had been the primary channel used by local users.
Matt Poblocki, General Manager of Binance Australia, said the restoration of AUD deposits and withdrawals followed sustained demand from the local user base. He noted that hundreds of thousands of customers had identified access to bank transfers as a priority since the 2023 disruption.
With real-time PayID transfers and standard bank transfers back online, Binance Australia is once again operating with the most widely used payment rails in the Australian financial system. The exchange confirmed that the service has been fully operational and available to all verified users in the country since January 2026.
