Updates to Binance Card in LATAM and MENA Region
Today we have let affected users know that the Binance Card product will no longer be available in LATAM and MENA.
Although Binance Card users in LATAM and MENA have enjoyed using Binance Card to make day-to-day payments with crypto assets, this change only affects less than 1% of our users in those markets.
To help address some of the questions and comments our users will no doubt have, we’re publishing an FAQ below.
Q: What countries/markets are affected by this decision?
A: We will no longer offer Binance Card to users in Latin America and the Middle East .
Q: What's the exact time the card will stop working? What can users do in the meantime?
A: For Mastercard issued cards in Latin America, transactions on the Binance Cards will no longer be processed after September 21, 2023, until then cards can be used as normal.
For Mastercard issued cards in MENA, Binance Cards will no longer process transactions after August 25, 2023, until then cards can be used as normal.
Binance accounts are working as usual and will not be affected. Where available, users can also shop with crypto and send crypto using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance, at merchants accepting Binance Pay. Binance Pay is accessible from the funding wallet.
Q: Are you going to offer an alternative?
A: Although this decision only affects less than 1% of our users , Binance is fully committed to ensuring the best customer experience possible and is always working to develop new products and features that facilitate the day-to-day use of crypto. Where available, users can also shop with crypto and send crypto using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance, at merchants accepting Binance Pay. Binance Pay is accessible from the funding wallet.
Q: What happens to purchases returned after the closure date? Where is the money refunded?
A: Refunds and dispute claims related to cards issued by Mastercard in Latin America and MENA can still be processed through December 20, 2023.
It is recommended to take action at your earliest convenience. All purchases returned after the Binance Card ends will be deposited on the user's account.
Q: What happens to recurring purchases and subscriptions?
A: Users will have to register a different card to replace the Binance Card. Failure to do so may result in unsuccessful transaction.
Q: Can I request a refund on the card order fee? (For users that preordered card for 10 BUSD)
A: Please reach our Customer Support service for assistance.
Q: I am trying to reorder a new Binance Card but am unable to do so? Why?
A: The Binance Card is no longer available to order. Users can shop with crypto and send crypto using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance, at merchants accepting it. Binance Pay is accessible from the funding wallet.
Q: How will the card closure impact my cashback rewards?
A: Cashback for successful transactions will continue to be distributed as normal.
Q: Why do the Card end dates differ between countries?
A: Cards around the world are issued by different third-parties, the dates that different countries’ Card programs end is dependent on their processes.