Binance Shifts Crypto Deposits from Funding to Spot Accounts

Binance has made significant changes to its account structure by ending direct on-chain crypto deposits into Funding Accounts. As of September 29, users must deposit new crypto assets into Spot instead. Binance Pay receipts and Convert settlements now also move to Spot, while existing Funding balances are being migrated separately.

The changes affect how users send and receive assets, with most users not needing to manually transfer their existing assets. However, those relying on Funding-only recurring Pay sends will need to set up new plans with another source as Binance will eventually remove Funding as a Pay source, although no exact date has been given.

Convert orders now settle in Spot, and existing limit orders backed by assets frozen in Funding remain open but will settle into Spot after September 29. New limit orders freeze and settle in Spot from the start. Recurring Convert orders can be configured to settle into either Spot or Earn.

Binance recommends updating account settings for Convert plans from Funding to Spot and advises API users to update account references accordingly. P2P users who have not posted ads in the past three months will prioritize Spot for buy and sell orders after updating their Binance app, while advertisers continue using Funding for now ahead of a dedicated P2P Account planned for December 2026.

Binance also plans to automatically move assets left in Funding after voluntary transfers into batches starting January 2027. The Stocks Account will replace Funding in January, with the exact date still to come, and bStocks balances will be moved to Spot. The changes may differ by region as some products are not available everywhere.