Note: This feature is gradually rolling out in stages. Please refer to the product page for more updates.
UPDATE: The Send Cash function on Binance Pay has been upgraded. You can now easily access Binance P2P via Binance Pay's Send Cash function to trade digital assets with other counterparties and receive cash in your bank account or e-wallet. For more details about this new P2P integration in the Send Cash feature, refer to the How to Use Send Cash on Binance P2P tutorial.
Using the balance in your Spot or Funding Wallet, you can now directly send cash to your family and friends. The Send Cash function on Binance Pay lets you use crypto to send fiat currency to your recipient via bank or e-wallet transfer.
Using your crypto assets, you can now send cash directly to your friends and family. The new Send Cash function on Binance Pay lets you send from your crypto balance and the recipient will receive fiat currency in their bank account.
How to send cash using Binance Pay?
1. Log in to your Binance App and go to [Binance Pay]. Tap [Send Cash].
2. Then, choose the destination country and select the payment method.
3. Enter the recipient’s details, including their full name, bank, and account number. Additionally, indicate your source of funds, your relationship with the recipient, and the purpose of the transfer. Please check all details carefully before you tap [Continue]. If you enter the wrong recipient details, your transfer will fail.
Please note that after entering the recipient’s details, it will be automatically saved to your recipient list for easier access in the future.
4. Enter the amount to transfer. Please note that this is the exact amount the recipient will receive, excluding the transaction fee.
5. You will see a quotation with the exchange rate, transaction fee, and an approximate time for the transfer to be complete. You can choose to pay with funds from your Spot or Funding Wallet or use a combination of the available balance.
6. Verify the transfer with your 2FA devices. Then, you will receive email and SMS notifications once the payment is complete.
To view the transfer status, tap [View Details].
Please refer to the Frequently Asked Questions on Binance Pay Send Cash Function for more information.