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How to Make Internal Transfer on Binance

How to Make Internal Transfer on Binance

2020-07-06 05:56
The internal transfer function lets you send funds between two Binance accounts. It will be immediately credited, and you don’t have to pay any transaction fees.
1. Log in to your Binance account and click [Wallet] - [Fiat and Spot].
2. Click [Withdraw].
3. Choose the coin to withdraw.
4. Next, enter the recipient address of the other Binance user, or select from your address book list.
5. Select the network. Please make sure that the network matches the addresses network entered to avoid withdrawal losses.
6. Enter the amount to transfer. You will then see the network fee displayed on screen. Please note the network fee will only be charged for withdrawals to non-Binance addresses. If the recipient address is correct and belongs to a Binance account, the network fee will not be deducted. The recipient account will get the amount indicated as [Receive amount].
You can hover over to [i] and click [Change] to choose the account the withdrawal fees are to be returned to. It can be either returned to the withdrawing account or the recipient’s account.
Please also note that if you choose [Blockchain Transfer], your funds will be transferred to the recipient’s address via blockchain and you have to pay for the network fees of your withdrawal.
*Please note: The fee exemption and instant arrival of the funds are only applicable when the recipient address belongs to a Binance account too. Please make sure that the address is correct and belongs to a Binance account.
Moreover, if the system detects that you are withdrawing a coin that requires a memo, the memo field is also mandatory. In such a case, you will not be allowed to withdraw without providing the memo; please provide the correct memo, otherwise, the funds will be lost.
7. Click [Submit] and you will be redirected to complete the 2FA Security verification for this transaction. Please double-check your withdrawal token, amount, and address before clicking [Submit].
8. After the withdrawal is successful, you may return to [Wallet] - [Fiat and Spot] - [Deposit Withdraw History] to check the transfer status.
Please note that for internal transfer within Binance, no TxID will be created. The TxID field will be shown as [Internal Transfer] and will show a [Internal Transfer ID] for this withdrawal. If there is any issue for this transaction, you may provide the ID to Binance Support for assistance.
9. The recipient (another Binance user) will instantly receive this deposit. They may find the record in [Transaction History] - [Deposit]. The transaction will be marked as [Internal Transfer], with the same [Internal Transfer ID] under the TxID field.