I. Account Management
Q. Can I link a new account to the same mobile phone number that I have linked to an old Binance account?
A. No, you need to unlink the mobile phone number on the old account or link a new mobile phone number.
Q. Does the merchant need to use the real name to trade?
A. Yes, merchants and users both need to use real names. The account owner’s name of payment methods has to be consistent with the Binance account verified name.
Q. Can I use an institutional account to register a merchant account?
A. Not for now, you can only use an individual account to register.
Q. Can I apply for multiple accounts in Binance with different types of ID?
A. A person can only apply for one account with one type of ID. For example, if a user has gone through the KYC process with a national ID card, he/she will not be able to go through the KYC process again with a passport, even with a new account.
Q. When a merchant publishes a Sell advertisement, the total amount being sold will be locked up. In which wallet does the system lock the fund? Exchange wallet or Fiat wallet?
A. Exchange wallet.
II. Security and Compliance
Q. How does Binance ensure compliance with fiat transfers?
A. Binance P2P does not handle any fiat transfers. Binance P2P is a marketplace that facilitates direct trades between merchants and users. The fiat transfers are completed on third-party payment platforms on a peer to peer level.
Q. As a buyer, is there a risk that I will not receive coins after making a payment?
A. After the buyer places an order, the platform will lock the seller's position in the platform's wallet, so you can safely send money to the seller. 30 minutes after completing the payment, if you have not received the coins, you can contact us by filing an "appeal". Our dedicated customer service team will contact the users to resolve the dispute.
Q. How can I contact online customer service?
A. You can log in to the Binance official website: www.binance.com, and contact customer service in the lower right corner, or you can go to the Binance mobile app, select the “Account” Tab at the bottom and select “Help & Support ''.
Q. Is it possible to trade fiat currencies on Binance P2P without KYC?
A. All Merchants must complete KYC to conduct P2P fiat currency transactions.
Q. How do I enable Google authentication?
A. For desktop, after logging in to the account, click [Account Security]-[Google Authentication]-[Enable] and follow the instructions. For mobile apps, click [My]-[Security]-[Google Authentication ] and then follow the instructions.
Q. What is the transaction fee for P2P fiat currency trading?
A. There is no transaction fee at this moment.
V. App download
Q. How do I download the latest version of the app?
A. Go to this address: https://www.binance.com/en/download.
Q. I (the buyer) paid the user, but the user didn’t release the crypto. What should I do if I can’t reach the user?
A. If there is a problem with the transaction, you can contact the other party by clicking on the chat bubble and start an instant chat with them. There is also the phone button in the red box on the order details page if needed. If you cannot contact the user, you can click the "I want to appeal" button, fill in the appeal information as prompted, and initiate an appeal. All crypto will be locked once the appeal process is started. If the matter gets resolved, the user who initiates the appeal can always cancel the appeal. Our customer service will assist with any unresolved appeal cases.
Q. What is the daily withdrawal amount of Binance?
A. If you haven’t done KYC, the daily limit is 2 BTC. If you have done KYC, the daily limit is 100 BTC. The new withdrawal amount is recalculated after 12 am (UTC) every day.
VII. Merchant application
Q. What's the criteria to become a P2P merchant?
A. We will ask applicants to provide
- Complete Binance KYC verification;
- Local bank account, mobile phone number, and email;
- Proof of crypto asset and transaction volume on other platforms;
- Permanent address and proof of address;
- Bank account statements
After users submit the applications, we will review them one by one.
Q. How do I become a merchant?
A. Please submit an application at https://docs.google.com/forms/d/e/1FAIpQLSfBp8Au1TfP5CXRlCxZi-Ok91rzttD2gSU6MH8ujKdndVurlw/viewform. If you have any questions, please send an email to firstname.lastname@example.org.
Q. Can a linked bank account be deleted?
Q. Am I allowed to link only one bank account?
A. You can link multiple bank accounts and up to 20 payment methods.
Q. Does Binance P2P support non-real-time payment methods?
A. Binance does not support non-real-time payment methods. The seller has the right to refuse to continue the transaction in case of any dispute on the receipt of fiat payment.