In reality, it takes 2-7 business days from the original date of the transaction for Binance to charge the connected payment method, meaning that the deposited funds must remain in the account during that time. One explanation for the hold is that Binance provides the convenience to users of pre-crediting their account when an ACH or Debit Card deposit is created.
This means that if a user were to make a deposit with a new ACH, they must wait 10 days in order to make any withdrawals on those funds. Debit deposits are subjected to a 5-day withdrawal lock, while ACH requires a 10-day withdrawal lock. During this period, users will be unable to withdraw USD (or their local fiat currency) or cryptoassets that were funded by the deposit. While there are a few reasons why a user may experience this error, one of the more common causes is a lock placed on new ACH (automated clearing house) and debit deposits.īinance requires all new ACH and debit deposits to be subject to a brief withdrawal lock period. Thankfully, Binance Support provides a trouble-shooting page to help users figure out what’s going on.Īccording to Binance, the exchange’s automated system will occasionally lock a user’s ability to withdraw funds from their account under certain circumstances. It can be frustrating to get an unexpected error message or have your account withdrawals temporarily suspended. Read on to find out why you are receiving this error and what you can do to get your account back in working order. There are several reasons why a user may experience this error and have their withdrawals from Binance temporarily suspended. One of the more concerning error messages is the following: “withdrawal suspended due to risk management.” Users of the leading crypto exchange Binance may occasionally come across an error message and not know what it means.
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