What's happening
Binance does attempt to verify the account, but the bank rejects the automatic validation. This does not mean the money is lost or the account is blocked: it's a compatibility or data issue.
⚠️ Most common causes
The name does not match exactly
On Binance, it must exactly match the bank's name (no abbreviations, no omitted middle names).
Accents and capitalization also matter.
BBVA account not enabled for incoming SPEI
Some new or digital accounts do not accept automatic validation.