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Binance Pay

Binance Pay Frequently Asked Questions

Binance
2021-03-01 01:25

1. Can I change my preferred payment cryptocurrencies for a particular payment?

Yes, you can now change your preferred cryptocurrency payment order for a transaction during your payment checkout. This payment order will only be used for that particular transaction and will not impact the payment priority order you chose during the initial wallet setup.
Please refer to Payment to an individual via QR Code to find out more.

2. What if your Binance Pay Wallet balance is insufficient for your first preferred cryptocurrency during payment?

Binance Pay utilizes your cryptocurrencies according to the order you’ve set in your Binance Pay Wallet. Binance Pay uses an aggregate value of all your cryptocurrencies in your Binance Pay Wallet to make sure payouts/payments are completed.
You can always reconfigure your preferred cryptocurrency payment order by visiting the Binance Pay Wallet. Simply drag the cryptocurrencies to rearrange them in your desired order.
Alternatively, if you wish to change your payment cryptocurrency order for a particular transaction, you can do it during the payment process on the payment checkout page.

3. What cryptocurrency will I receive for payment refunds?

Refunds will be credited to your Binance Pay Wallet in the cryptocurrency the merchant accepted for the payment.

4. How to view your Binance Pay transaction history?

Go to your Binance Pay Wallet and you will be able to view your transaction history above your preferred cryptocurrency payment order. You will also be able to view the cryptocurrencies used for each payment.

5. What are Binance Pay transaction limits?

To enjoy Pay service, you can complete identity verification at [Personal Verification].
Verification LevelPay LimitReceive Limit
Verified / Verified Plus
50,000 BUSD/Day
4,500,000 BUSD/Year
50,000 BUSD/Day
4,500,000 BUSD/Year
If you are a verified OTC merchant, you can enjoy a higher Pay limit.
User TypePay LimitReceive Limit
OTC Merchant
200,000 BUSD/Day
18,000,000 BUSD/Year
50,000 BUSD/Day
18,000,000 BUSD/Year

6. What are the fees for using Binance Pay?

There are no fees for using Binance Pay.

7. Can you reverse a payment transaction?

Sorry, you cannot reverse a Binance Pay transaction. Please take extra caution when performing payment transactions.

8. Is Binance Pay available for all users?

Binance Pay is currently only available to eligible Binance users. To start using Binance Pay, please register on Binance.com and complete your identity verification.

9. What is the difference between a locked Pay PIN and a locked Pay account?

A locked Pay PIN is a result of exceeding the maximum number of incorrect PIN attempts (5 attempts). This can be self resolved by trying again after the time-out period reflected in your app. You do not need to request for your Pay PIN to be unlocked.
A locked Pay account could be due to various reasons, you will need to unlock your account in your Binance App before making another payment.

10. How do I unlock my Binance Pay account?

Open your Binance App and tap [Wallets] - [Pay]. Tap the Settings Icon.
Select [Change Pay PIN].
Enter your current Pay PIN. Please note that if your Pay PIN/Pay account is locked, you will have to complete a 2FA before proceeding.
Enter your New Pay PIN.
You have successfully changed your Pay PIN.
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