Binance Pay Frequently Asked Questions
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.
Please refer to Payment to an individual via QR Code.
2. What happens when my Funding Wallet balance is insufficient for the first preferred cryptocurrency during payment?
Binance Pay utilizes your cryptocurrencies according to the order you’ve set in your Binance Pay. Binance Pay uses an aggregate value of all your cryptocurrencies in your Funding Wallet to make sure payments are completed.
You can always reconfigure your preferred cryptocurrency payment order by visiting the Binance Pay feature. 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 Funding Wallet in the cryptocurrency the merchant accepted for the payment.
4. How to view my Binance Pay transaction history?
Go to your [Funding Wallet] - [Pay] and you will be able to view your payment history. You will also be able to view the cryptocurrencies used for each payment.
5. What are the Binance Pay transaction limits?
To enjoy the Pay service, you need to complete Identity Verification first at [Personal Verification].
Your Binance Pay limits are dependent on your Binance VIP Level. Please see the below table for more details.
VIP Level | Daily Pay Limit (BUSD) |
Regular | 8,000,000 |
VIP 1 | 8,000,000 |
VIP 2 | 8,000,000 |
VIP 3 | 8,000,000 |
VIP 4 | 16,000,000 |
VIP 5 | 24,000,000 |
VIP 6 | 40,000,000 |
VIP 7 | 64,000,000 |
VIP 8 | 80,000,000 |
VIP 9 | 96,000,000 |
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 check the payment details carefully before you confirm payment.
8. Is Binance Pay available for all Binance users?
Binance Pay is currently only available to eligible Binance users. To start using Binance Pay, please register on Binance.com and complete Identity Verification.
9. What is the difference between a locked Pay PIN and a locked Pay account?
Your Pay PIN will be locked when you exceed the maximum number of incorrect PIN attempts (5 attempts). You can try again after the time-out period displayed on the 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 Binance Pay in your Binance App before making another payment.
10. How do I unlock my Binance Pay?
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 verification before proceeding.
Enter your New Pay PIN.
You have successfully changed your Pay PIN.