Binance moves Pay receipts and Convert settlements to Spot

Binance on Sept. 29 stopped direct on-chain crypto deposits to Funding Accounts and redirected Binance Pay receipts and Convert order settlements into users’ Spot accounts.

New on-chain deposits must be sent to Spot. Pay receipts arrive in Spot immediately, and Convert orders — including limit and recurring Convert transactions — will settle into Spot. Binance’s notice says existing balances in Funding will be migrated on a separate schedule and do not require immediate manual transfers for most accounts.

Users can still allow Pay to draw from either Spot or Funding through Payment Priority settings. Recurring Pay sends that depend exclusively on Funding will continue while Funding remains an available Pay source; the exchange did not provide a firm date for when Funding will no longer be usable for Pay transactions. Customers who rely on Funding-only recurring plans will need to recreate those plans using another account after Funding is removed as a source.

Convert orders changed in place. Existing limit orders that froze assets in Funding remain active and, after Sept. 29, will settle into Spot. New limit orders will freeze and settle from Spot. Recurring Convert orders will settle into Spot or into Earn accounts according to their configuration, and refunds for failed recurring orders will return to Spot. Binance recommended that users update Convert plan selections from Funding to Spot and advised API users to change account references to Spot to avoid disruptions.

Peer-to-peer trading will split by user type after an app update. App users who have not posted ads in the past three months and who are not merchants will see buy and sell orders prioritize Spot. Advertisers will continue to use Funding for P2P transactions for now. Binance plans to introduce a dedicated P2P Account in December 2026. Website users do not need the app update to reflect the change.

Voluntary transfers out of Funding are allowed now. Any remaining balances in Funding will be moved automatically in batches beginning January 2027. The exchange plans to rename Funding the Stocks Account in January, with the exact date to be announced. That account is intended for stock and stock-options settlement, and bStocks balances will move to Spot. Binance noted that timing and exact details may vary by region because not all products are available everywhere.

Spot is the exchange’s primary trading account for executing buys and sells. Funding historically hosted Pay receipts, P2P activity and some Convert settlements. The announced changes affect where receipts, settlements and certain trading functions appear in user accounts and require customers who run automated plans or use account-specific APIs to review and update their settings.