Binance ends Funding Account crypto deposits as Pay and Convert move to Spot

From Sept. 29, Binance says Funding Accounts no longer accept direct on-chain crypto deposits. Users depositing crypto must use Spot instead. Binance Pay receipts and Convert order settlement also move to Spot, although existing Funding balances are being migrated on a separate timetable.

The changes alter where users send assets and find them after a transaction. Binance's account FAQ says most users do not need to move existing assets manually, while its migration announcement lays out the phased account changes.

Pay receipts move before Pay spending

Incoming Binance Pay assets now land in Spot. Pay transactions can still draw from Funding or Spot under a user's Payment Priority settings, so a change to the receipt account does not by itself disable Funding as a payment source.

Funding-only recurring Pay sends can continue while Funding remains an available source. Tokenearly's reproduction of Binance's announcement says those plans will cease to execute when Binance later removes Funding as a Pay source. Binance gives no exact date for that removal; users relying on such plans will need to set up new ones with another source. The announced removal is a separate step from the Sept. 29 receipt change.

Convert orders now settle in Spot. Existing limit orders backed by assets frozen in Funding remain open; after Sept. 29, they settle into Spot. New limit orders freeze and settle there. Recurring Convert orders settle into Spot or Earn as configured, and failed recurring-order refunds return to Spot.

Binance recommends switching a Convert plan's account selection from Funding to Spot. Its announcement also advises API users to update account references to Spot. Neither change means existing Convert limit orders are canceled.

P2P users face a different split. According to Binance's FAQ, users who posted no ads in the past three months and are not merchants will prioritize Spot for buy and sell orders after updating the Binance app. Advertisers continue using Funding for now, ahead of a dedicated P2P Account planned for December 2026. Website users do not need an app update.

Binance's updated announcement says assets left 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 the exact date still to come. That future account is intended for stock and stock-options settlement, while Binance says bStocks balances move to Spot. The changes may differ by region because the products in the notice are not available everywhere.