It’s not too much of a problem and it shouldn’t last long. As they say: “the change will affect less than 1% of users, and the exchange is working to find an alternative solution.”
Sorry, but I'm not buying it. This is a message meant to calm people and it's more often a lie than not. Plus I think that they've used this line not long ago for another problem.
While I have my doubts they'll restore this as soon as they promise, Binance clearly wants people still deposit and withdraw; it's part of the business.
And if deposits and withdrawals were possible in the days there were fewer crypto-friendly banks than now, .. they'll find a solution.
The question is: how stable will be the new partner bank. Another question is: how long until all will be back to normal? Both are hard to answer.
If Coinbase is able to serve UK customers, why Binance couldn't do it too.
The thing is Binance doesn't do the things right. For exemple, they acquired a firm in 2020 to act as its UK subsidiary and named it Binance Markets Ltd. Few months later, the FCA issued a warning for not having the relevant permissions to operate in the country
https://www.fca.org.uk/news/news-stories/consumer-warning-binance-markets-limited-and-binance-groupIt's true in the UK, the agencies are quite bothering with CEXs, but if companies don't follow the regulations, it won't help.
Adding the fact here with PaySafe that decided to stop making business with Binance... the result is normal.
