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500 USD withdrawal from Binance turned into a 351.54 USD fee... Not sure if its an insurance kind of deal or what, but allow me to explain...

500 USD withdrawal from Binance turned into a 351.54 USD fee... Not sure if its an insurance kind of deal or what, but allow me to explain...

Binance

Cryptocoins Exchanges / Binance 25 Views

So it has come time for me to take some profits from my gains using Binance (per wife's request) so I logged in, went to the balance tab, clicked on the withdrawal USD button, typed in 1000 USD then out of fear of the unknown, I pressed the backspace button 4 times, and proceeded to type 500 USD to be withdrawn from Binance and deposited into my checking account. Did the 2 step verification, verified via email, and at the end it took me to a Prime Trust page that said confirm disbursement from me to me. I clicked the confirm button and it looked like everything went according to plan. Well a few minutes later I checked my bank account because it is the first time I have taken USD from Binance. I wasn't sure if it was an instant deposit or if its the standard wait a week kind of deal and low and behold there is a temporary hold on 351.54 USD From Prime Trust.... WAIT.. WHAT?! I did not buy any crypto today, matter of fact I have not put money from my checking account into Binance/Prime Trust for weeks now. So my question is, pardon my French, but WTF is happening?! This is not an FUD thread I am not dissing on Binance I actually love it! I am just hoping someone can shed some light on the situation for me?

submitted by /u/Mcdubrs
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