Starting September 29, Binance will no longer accept direct on-chain cryptocurrency deposits to Funding Accounts. Users depositing crypto must route new deposits to Spot instead.
The change affects multiple account functions. Binance Pay receipts and Convert order settlements now flow to Spot, though users can still draw payments from Funding or Spot based on their Payment Priority settings. Existing Funding balances will migrate on a separate timetable, and Binance says most users will not need to manually move existing assets.
Pay and Convert Timeline
Incoming Binance Pay assets now land in Spot, but Pay transactions can continue drawing from Funding temporarily. Recurring Pay sends that rely only on Funding will eventually stop executing when Binance removes Funding as a Pay source at a later, unspecified date. Users relying on such plans will need to establish new ones with another source.
Convert orders now settle in Spot. Existing limit orders backed by assets frozen in Funding remain open and will settle into Spot after September 29. New limit orders will freeze and settle in Spot. Recurring Convert orders settle into Spot or Earn based on configuration, and failed recurring-order refunds return to Spot. Binance recommends users update Convert plan account selections from Funding to Spot.
P2P and Future Changes
P2P trading faces different timing. Users who have not posted ads in the past three months and are not merchants will prioritize Spot for buy and sell orders after updating the Binance app. Advertisers will continue using Funding for now, ahead of a dedicated P2P Account planned for December 2026.
Assets remaining in Funding after voluntary transfers will be moved automatically in batches starting January 2027. Binance also plans to rename Funding the Stocks Account in January, with that account intended for stock and stock-options settlement. Binance stock balances will move to Spot. These changes may differ by region based on product availability.
