Why Does Binance Require Sender Information When Depositing?
Because the "Travel Rule" under the global Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulatory frameworks requires Virtual Asset Service Providers (VASPs) to collect, verify, and transmit sender and receiver identity information with each transaction. This is not Binance's own policy, but a legal requirement in your region (such as the EU, South Africa, etc.) that Binance must follow. The information you provide will be used for compliance review; failure to provide it or providing incorrect information may result in deposit delays or returns.
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1. Confirm Whether Your Deposit Triggers This Requirement
What to do: Determine whether this deposit requires you to fill in sender information.
How to do it:
Case A (Crypto Deposit): Check if a questionnaire about "Sender Information", "Source of Funds", or "Travel Rule" appears on the deposit page in the Binance App or website.
Case B (Fiat Deposit): Some fiat deposit channels (e.g., SWIFT bank transfers via BPay Global) may require you to enter a Reference Code or similar field. This is not a sender information questionnaire, but an order linking identifier for that channel. If you encounter additional information requirements during a fiat deposit, simply follow the on-screen instructions to fill them in.
When is it considered done: Clearly know which case you are in. If you don't see any extra questionnaire, it means this transaction does not trigger this requirement, and you can proceed as usual.
2. If the Questionnaire Appears: Fill in Sender Information as Required
What to do: On the questionnaire that pops up on the deposit page, truthfully fill in your source of funds information.
How to do it: The fields vary by region, but the core logic is the same: Is the fund coming from "yourself" or "someone else / another exchange"?
Funds from your own wallet (self-deposit):
For questions like "Who is the sender?", select "Myself" (or "Individual").
Fill in your name (as in your identity document), country of residence, city, etc.
Funds from another exchange (e.g., withdrawing from OKX to Binance):
Select "Another VASP" (or "Not Myself").
Fill in the exchange name (e.g., OKX), the sender's name / company name, country, etc. If the exchange is not in the dropdown list, you can usually select "others" and manually enter the name.
Prerequisites:
You must have completed Binance account KYC (identity verification). Unverified users cannot use fiat services and may not be able to initiate deposits that require Travel Rule verification.
Ensure the information about the source of funds is true and accurate. Binance may request additional proof.
When is it considered done: All required fields (marked with * or "required") are filled in and submitted, and the page shows "Submitted" or "Under Review" without any error.
The key criterion is "who initiated the transfer". If you are depositing from your own wallet, choose "Myself"; if you are doing it for someone else or the funds come from a corporate account, choose the corresponding option. Incorrect selection may cause the review to fail.
3. Status Check and Handling After Submission
What to do: Confirm whether the fund has arrived and check the review status.
How to do it:
Go to Binance [Wallet] → [Spot Account] to check the change in asset balance.
If the fund has been transferred but is not reflected in your available balance, check [Wallet History] or [Order Center] for the status of this deposit.
If you receive a notification like "Information mismatch" or "Review failed", the system will indicate which field has an issue. Follow the instructions to correct and resubmit.
Common reasons for failure:
Name does not match the bank/wallet holder: You selected "Myself" but the on-chain wallet address or bank account holder's real name is someone else. The system will flag this as a mismatch.
Exchange name wrong: You withdrew from OKX but manually typed "OKEX" or entered the sending party as "Binance", causing a mismatch.
Risk Warning:
Delay risk: Failure to provide required information or providing incorrect information may cause the funds to be delayed, and in extreme cases, returned to the original sending address. The return process may incur on-chain gas fee losses.
Account risk control: Multiple incorrect entries or deliberate provision of false information may lead to an increased risk level on your Binance account, and even restrictions on deposit/withdrawal functions.
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4. Applicable Regions and Thresholds for This Requirement
What to do: Understand the triggering conditions so you won't be caught off guard if a questionnaire "suddenly appears" next time.
How to do it: The following regions are known to have explicit sender information requirements:
European Union (e.g., Poland, Belgium): From January 20, 2025, deposit transactions exceeding 1,000 euros (or equivalent) require sender information. Note that this threshold applies to individual transaction amounts.
South Africa: From April 30, 2025, all cryptocurrency deposits and withdrawals require sender and receiver information, with no amount exemption.
If you are a user from other regions and a questionnaire pops up on the deposit page, follow the on-screen instructions.
How to confirm you have correctly completed the process?
If you submitted the questionnaire without any error message, and the funds appeared in your spot wallet balance within a reasonable time (usually 1-3 hours after the required number of blockchain confirmations), it means the information has passed review and the operation is complete. If the funds have not arrived after more than 6 hours and the status shows "Under Review", we recommend submitting a ticket through Binance customer support, attaching your TxID and a screenshot of the information you filled in to speed up verification.
