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Frequently Asked Questions on Binance Pay Send Cash Function

Frequently Asked Questions on Binance Pay Send Cash Function

2023-01-16 03:51
1. What is the transaction limit for senders?
Please refer to the transaction limit below (Effective from January 12, 2023):
Receiving Country
Daily Limit
Monthly Limit
Annual Limit
Hong Kong
233,800 HKD
1,168,900 HKD
2,337,700 HKD
551,500 PHP
2,757,100 PHP
5,514,200 PHP
828,100 INR
4,140,100 INR
8,280,200 INR
91,500 GHS
457,500 GHS
915,000 GHS
2,251,800 PKR
11,258,800 PKR
22,517,500 PKR
237,549,500 VND
1,187,747,200 VND
2,375,494,400 VND
247,000 EGP
1,235,000 EGP
2,470,000 EGP
1,028,200 BDT
5,141,000 BDT
10,282,000 BDT
2. What are the transaction fees?
Our partner financial institutions charge transaction fees on a per-transaction basis. Please refer to the respective country and payment method’s actual fees on the page.
3. How long does the transfer take?
After choosing the destination country, you will see a transaction time estimation. The actual time may vary depending on the payment method you choose. You will receive email and SMS notifications when the transfer is complete.
4. How to check the status of my transfer?
Go to [Pay] - [Send Cash], and you will see the status of your latest transfer. To view your transfer history, tap the [History] icon on the top right.
5. Why did my transfer fail?
a. The recipient details are wrong
Most banks won’t accept payment if you enter the incorrect recipient details.
Please check your recipient details carefully before proceeding.
b. The recipient account has reached its remittance limit
Some countries may limit the amount of money a resident can receive per day due to regulatory requirements. The transfer will fail if the recipient’s remittance limit has been reached.
Please check with your recipients that their remittance limit is sufficient before confirming the transfer.
c. Other possible reasons
  • The transaction did not pass the Anti Money Laundering (AML) or Combating the Financing of Terrorism (CFT) screening.
  • The recipient does not collect the transferred funds within 28 days of a successful transfer (cash pick-up only).
  • The recipient is below the permitted age of 16 (cash pick-up only).
6. What happens when the transfer fails?
You will be notified when the transfer has failed. Transferred funds will be returned to the wallet your crypto is debited. Please note that refunds will be in USDT instead of the currency you converted for payment. This is because we settle payments in USDT with the partner financial institutions and the exchange rate varies from time to time.
If the receiving institution (mobile wallet and bank transfer payout channels) does not accept the transaction, no transaction fees will be charged for refunds.
However, for cash pick-up, if the transfer failed because the recipient did not collect the funds within 28 days of a successful transfer or if the beneficiary is not of permitted age, transaction fees will still be charged.
7. How long do I have to lodge a dispute?
In most cases, you have 30 days from the transaction date to lodge a dispute. Please contact Binance Support via Chat for assistance.