bind, tie, fasten
綁 centers on securing something with cord or rope: binding, tying, or fastening.
綁 combines 糸 (thread) with 邦, which likely contributes the sound ホウ. The thread component points to binding or tying.
The thread radical 糸 on the left wraps around 邦 on the right, like cord binding a bundle together.
For ホウ, imagine tying a bundle with a strong cord and calling it a 'hoe' (ホウ) knot: hoe -> ホウ, and the thread fastens everything tight.