“Following the completion of fiat verification, you will now be able to send an initial ACH deposit of up to $5,000. You will be able to trade immediately, but USD deposits will be held for 10 days before you will be able to withdraw them.”
Binance.US CEO, Catherine Coley also tweeted regarding the announcement, highlighting the move to be a result of user feedback.
— Catherine Coley (@cryptocoley) October 21, 2019
Starting next month, the users of the platform will have yet another increase in the ACH deposit limits to $30,000, although all deposits will continue to be held for 10 days before you will be able to withdraw them.
The official announcement also mentioned that that no fees will be made applicable for USD deposits and withdrawals. Furthermore, it read,
“Binance.US is also pleased to announce that all USD deposits are eligible for FDIC insurance coverage. Read more about FDIC insurance coverage here.”
In this regard, one of the U.S. users, @titan_v16 tweeted the need of BTC pairs in the near future as most investors/traders moving funds from other exchanges will have their funds in Bitcoin and not USD.