Binance Restores Support for Russian Bank Card Transactions

Binance has recently restored support for Russian bank card transactions, including credit cards from Visa and Mastercard, according to a report by Forklog. Binance had previously blocked fiat-to-crypto exchanges for Russians following the invasion of Ukraine by Russia. However, the company has now reinstated the service without prior announcement.

Russian cardholders can now top up their accounts in a range of currencies, including rubles, Turkish liras, British pounds, euros, Kazakhstani tenge, Australian dollars, Ukrainian hryvnias, Czech crowns, and others. Notably, deposits in US dollars are not currently available.

Image via Forklog

The replenishment process reportedly involves the use of the Qiwi payment gateway, according to “Durov’s Code,” a Russian tech publication. Meanwhile, the withdrawal of funds is subject to a limit of between 4,300 and 200,000 rubles.

While a Qiwi representative emphasized that the company “does not have any cooperation agreements with the Binance platform,” the Binance support service has confirmed that operations with cards issued by Russian banks are once again available. However, unauthorized users of the web platform, who are allegedly located outside of Russia, were informed that deposits using Russian-issued plastic cards are not supported.

The fiat deposits page on the Binance web interface also shows that replenishment in rubles is only available through the Advcash and Payeer payment systems. Additionally, the support service clarified that legal entities of Binance registered in the EU are prohibited from providing services to legal entities established in Russia or Russian citizens residing in Russia, with some exceptions.

It is worth noting that Binance had previously imposed a €10,000 deposit limit on accounts held by Russian users. However, in April 2023, reports suggested that this restriction had been lifted.

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