*The rules outlined here are applicable to non-CN merchants only
Dear Binance P2P merchants,
In order to create a fair, secure, and reliable trading environment for our users on the Binance P2P platform, merchants need to abide by the following principles:
- Be honest, polite, and fair.
- Be responsible for your ads, confirm the price and quantity before you publish.
- Always make payments, release tokens, and reply to users in a timely manner. Only accept payments in the methods you advertise, and those that are available on Binance.
- DO NOT cancel orders arbitrarily and do not appeal maliciously, contact users directly before filing an appeal.
- DO NOT include “Binance”, local bank names, payment method names, or any sensitive words in your nickname.
- We do not have any official representatives on all other social media apps or messengers except for Telegram, so please be cautious if someone contacts you and claims they are from Binance on other platforms.
- The Telegram group only serves for one-way communication (for our Binance P2P Team to contact merchants only), merchants will not receive prompt support from Telegram groups.
- Our P2P email (firstname.lastname@example.org) does not support any form of enquiries.
Important Note: Fee scheme is effective from 2021-07-01 00:00 UTC.
- With the new fees scheme, Binance P2P will maintain 0 fees for takers who buy or sell cryptocurrencies by placing an order from existing advertisements on the P2P platform, while charging transaction fees to makers who post trade advertisements. The fee rates range from 0% to 0.35%, depending on fiat markets and trading pairs.
- Binance is also launching a P2P Merchants promotion, where all Binance P2P merchants can enjoy a 20% discount on trading fees until further notice.
- Merchant Exclusive Support: Contact our Binance Chat for help.
Ⅰ Payment and receipt of funds
1. Binance requires that the account holder’s name on the payment method you use is consistent with the name you used in Identity Verification on Binance. If your name is not identical to that on your ID/Passport, please contact Binance Chat for help.
2. When receiving funds, if the counterparty’s bank account information is inconsistent with his/her verified name on the platform, you should refuse to release the crypto and make a refund to the buyer. Any fee charged by the payment method during this refund process should be covered by the buyer. Furthermore, we strongly recommend you to report that order to us through Binance Chat (P2P Merchants - Report Scams).
3. When making a payment, if the counterparty uses a non-authenticated account to receive the payment, merchants can cancel the order. Furthermore, we strongly recommend you to report that order to us through Binance Chat (P2P Merchants - Report Scams).
4. You are encouraged to ask for additional identity verifications from the users. However, users have the right to refuse to cooperate. If the users refuse to provide additional information, you are supposed to terminate the trade by refunding the money, canceling the order directly, or asking the CS team to help cancel the order.
Ⅱ Asset security
1. Merchants must not participate in any form of transactions involving illegal funds.
2. When the user complains that their bank card is frozen after receiving payment from the merchant, the merchant is required to actively cooperate with Binance staff to provide evidence. If the merchant’s bank account is frozen due to the counterparty’s fault, the merchants shall contact local police at once and ask the police to send a query email to email@example.com directly.
3. If the illegal digital assets or illegal funds brought by the merchant flow into Binance, resulting in legal risks and the loss of assets for Binance and users, Binance has the right to disqualify the merchants, ban all his activities and confiscate the security deposit.
Ⅲ Operating rules
1. Please read the Merchant Portal Tutorial carefully.
2. You are not encouraged to trade with users outside the platform. If you trade with users privately, the platform will not bear any responsibility for any losses caused. You should not indicate any personal contacts (social networks, messengers) in the ads, neither in the trading conditions nor in the auto-reply.
3. After completing the payment, if no tokens are received after 15 minutes, you should contact the counterparty directly. If there is no response, click [Appeal] and wait patiently for Binance P2P agents’ support.
4. You must not make a small amount of transfer to the user's bank account for testing purposes without the user's consent.
5. You are limited to post 2 online ads with the same direction/same crypto pair
Order Type (Buy or Sell)
5.1. For Russia, Ukraine, India, Canada and all Latin America fiat markets, you can only post 1 online ad with the same direction/same crypto pair, if one of the following parameters for the second ad is the same: price, payment methods, ad total order amount and order limits.
5.1.1 If you were to post 2 online ads with the same direction/same crypto pair the price difference of the ads should be > or = 1% between the ads.
6. You are not allowed to post links to third-party resources in the “remarks” or “auto-reply” sections, especially with links to other Exchanges/P2P/OTC platforms.
7. We may hide or close your ad if you violate the Merchant Guidelines without prior notice. Your ads may also be hidden if they fall under these conditions.
You may be disqualified if one of the following conditions exists:
1. You do not cooperate with our customer support team when processing the appeal order or delaying the trading process.
2. You charge extra fees or commissions to the user in any form.
3. You contact the user to carry out transactions outside the Binance platform.
4. You leak the user's name, contact information, address, and other related information.
5. You spread bad information that affects Binance.
6. You gain an advantage by unfair competition.
7. You use more than one merchant account (multi-accounts) to take advantage of trading, or block assets of other merchants.
8. You receive a large number of negative feedback from other users.
*Detailed rules for merchant management
|Violation regarding payment and receipt of funds||The merchant uses an account that is inconsistent with the verified name of the platform account, but the merchant does not refund the user and the user appeals.|
|The bank account provided by the merchant to receive payment is abnormal, and an effective payment method is not provided in a timely manner, so the user cannot complete the payment and appeals.|
|The merchant clicks [Transferred, notify seller] before completing the payment, and the user appeals.|
|The merchant makes payments using accounts that are inconsistent with the verified name on the platform and the user appeals.|
Trading banned for 1 week
|2 Consecutive Months|
|Assessment metrics did not meet requirements||The average release time and paying time is below average for the past 30 days.|
Might be disqualified
|The order completion rate is below average for the past 30 days|
Might be disqualified
|Appeal rate ≥ 5% (appeal rate = the amount of complaints / total number of matched orders)||Disqualification|
|The merchant did not complete any orders for 2 consecutive weeks.||Disqualification|
|Risk control triggered||After verified by the customer support, the user’s bank card was frozen due to the payment made by the merchant and the merchant failed to provide a bank statement within the given timeframe||Ad removed and all trading activities banned until the investigation is over.|
|The abnormality was detected by our risk control system, and the merchant refuses or does not actively cooperate with the platform for investigation.||Disqualification|
|Detected by our risk control, the merchant uses other accounts to intentionally wash trades and block other merchants’ ads||Disqualification|