Why Might Binance Require Source of Funds Proof for Large Deposits?
Large deposits triggering Source of Funds (SOF) or Source of Wealth (SOW) verification are a standard part of Binance's anti-money laundering (AML) compliance obligations, not a personal action against you. This indicates that your account activity has drawn the attention of the risk control system, and you are required to provide documents to prove the legitimacy of your funds and the process of your wealth accumulation.
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Step 1: Understand the Difference Between "Source of Funds (SOF)" and "Source of Wealth (SOW)"
Many users are unclear about the difference when they receive the notification, leading to wrong document submissions. They are actually two different concepts that determine what proof you need to prepare:
Source of Wealth (SOW) – "How your total assets came to be": Refers to the "overall story" of how you accumulated your total net worth over a lifetime. It could be a combination of your professional income, business investments, inheritance, and other sources. It describes your overall wealth background.
Source of Funds (SOF) – "Where this specific money came from": Refers to the origin of the specific funds you are depositing into Binance. For example, you received funds from a one-off real estate sale and then deposited them into Binance.
Simply put: SOW is "why you have money", and SOF is "where this money came from".
What counts as completion: After receiving the system notification, determine whether you are being asked to verify SOW, SOF, or both.
Step 2: Prepare the Corresponding Proof Documents Based on Your Situation
Binance has strict format requirements for documents ("golden rules"): issued in your real name, clearly legible (recommended 300 DPI), unedited, recent (e.g., last 3 months). Below are several common sources of funds and the corresponding materials. If the funds come from cryptocurrency investments, you can provide exchange statements showing client identity, portfolio, balance, and trading activity.
| Source of Funds Type | Documents Required |
|---|---|
| Employed (salary) | Salary slips for the last 3 months; bank statements showing salary credits; or tax return from the previous tax year |
| Self-employed/Freelance | Tax return from the previous tax year; or recent invoices/contracts for self-employed services |
| Savings / Deposits | Savings account statements issued within the last 3 months, showing name and balance |
| Cryptocurrency Investments | Exchange statements from the past 1 month; or wallet screenshots showing holdings and customer identity; or crypto asset tax payment records |
| Real Estate / Asset Sale | Sale contract showing asset type, sale price and date, along with bank statements showing the deposit of sales proceeds |
| Inheritance | Certified copy of the will by a lawyer or accountant; or a letter signed by the executor |
| Gift / Donation | Gift declaration signed by the donor (within 3 months), accompanied by bank statements showing the transfer |
What counts as completion: Corresponding proof documents based on your income type have been prepared (PDF or JPG format).
Step 3: Submit Documents in the Binance App
Log in to the Binance App, go to [User Center] - [Identity Verification] page.
Find the entry for "Supplementary Information" or "Complete EDD Verification" and tap to enter.
Follow the prompts to select your source of funds / source of wealth type.
Upload the prepared documents (original PDF recommended).
If required, a customer service video call verification: hold your KYC ID and recite a specified statement in your native language or English.
Submit and wait for review.
What counts as completion: Documents have been submitted and the page shows "Under Review".
Step 4: Wait for the Review and Pay Attention to Notifications
After submission, the Binance compliance team will review. The review usually takes 1-3 business days. Keep an eye on your registered email and in-app notifications.
If your documents are rejected, the system will indicate the reason (e.g., blurry, expired, inconsistent information). Follow the guidance to correct and resubmit.
What counts as completion: You receive a notification of approval or a request for additional documents.
Common Rejection Reasons
Occupation inconsistent with documents: e.g., claiming "employed" but only submitting savings statements without pay slips.
Documents exceed the time limit: Binance requires proof documents usually to be issued within the last 3 months.
Cropped or obscured documents: Missing edges, covered key information will be rejected outright.
File format non-compliant: Excel or Word files are not accepted; you need PDF, JPG, PNG.
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Risk Reminder
Failure to cooperate with EDD may lead to account restrictions: If verification is not completed within the specified time, account functions such as deposits, trading, and withdrawals may be restricted until verification is complete.
Binance will never ask you to transfer funds out under this process: The EDD process is entirely within the platform; any private contact requesting transfers is a scam.
After submission, keep an eye on your registered email and in-app notifications. The review usually takes 1-3 business days. If you haven't received a response after more than 3 business days, you can contact customer support via the Binance [Help Center] to check the progress.
