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How to Make an Internal Transfer to Another Binance Account

How to Make an Internal Transfer to Another Binance Account

2020-07-06 05:56
You can use the internal transfer function to send funds between Binance accounts. The transfer will be credited immediately with zero transaction fees. Let’s see how to make an internal transfer on the Binance website.
1. Log in to your Binance account and click [Wallet] - [Fiat and Spot].
2. Click [Withdraw].
3. Choose the coin to withdraw. For example, BTC.
4. Enter the recipient address of the other Binance user, or select an address from your address book. If the system detects that the address is a Binance address, it will ask if you’d like to send via PayID. You may ignore this option and proceed to the next step.
5. Select the network for the withdrawal. Please make sure that the network matches the recipient address's network to avoid asset losses.
6. Enter the amount to transfer and you'll see a network fee. Please note the network fee is only charged for withdrawals to non-Binance addresses. If the recipient address you entered belongs to a Binance account, you don't have to pay a network fee and the recipient will get the amount displayed next to [Receive amount].
7. You can mouse over the [i] icon and click [Change] to choose the account to receive the network fee refund. It can either be returned to the withdrawing account (your account) or the recipient’s account. By default, the fee will be returned to the withdrawing account.
8. You can also confirm that the withdrawal is an internal transfer in this step. Choose [Use internal transfer].
If you choose [Transfer through blockchain], your funds will be transferred to the recipient’s address via a blockchain network and you’ll have to pay a network fee.
*Important note:
  • Fee exemption and instant fund arrival are only applicable when the recipient address belongs to a Binance account. Please make sure that the address belongs to a Binance account before confirming the withdrawal.
  • If the system detects that you’re withdrawing a coin that requires a tag/memo, you must enter the correct tag/memo for the transaction to be successfully credited.
9. Double-check your withdrawal token, amount, and address. Then, verify your withdrawal request and click [Submit].
10. After the withdrawal is successful, you check its status from [Wallet] - [Fiat and Spot] - [Withdraw] - [Recent Withdrawals].
Please note that for internal transfer within Binance, no TxID will be created. The TxID field will be shown as [Internal] and you’ll see an internal transfer ID. In case you encounter any issue for this transaction, please provide the ID to Binance Support for assistance.
11. The recipient will receive your funds in their Binance account immediately. They can view the transfer record from [Transaction History] - [Deposit]. The transaction has the same internal transfer ID and will be marked as [Internal] under [TxID].