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How to Redeem Binance Gift Cards to Fiat in the Philippines

How to Redeem Binance Gift Cards to Fiat in the Philippines

2023-05-05 04:00

How can I redeem a Binance Gift Card to fiat in the Philippines?

Binance Gift Card recipients in the Philippines will receive a redemption code via email or mobile number when receiving or purchasing a gift card. They can then cash out the gift card by presenting the redemption code and a valid ID at a nearby physical store. The cash equivalent will be given to the recipient.
Please note that effective from 20 July 2023, only verified entity accounts can create and transfer Binance Gift Cards. If you wish to create and transfer gift cards, please register for an entity account and complete Entity Verification.
  • Please sign out of your existing Binance account before attempting to register for a new entity account.
  • Personal Binance accounts will still be able to send and redeem gift cards. If you want to buy gift cards, please visit our Gift Card merchants.

Is there a value limit on Binance Gift Card transactions and redemption?

Yes, there is a transaction limit. Please check the DA5/Surgepay website for the latest information on transaction limits.
Additionally, there is a gift card value redemption limit of ₱15,000 fiat equivalent per transaction, with each recipient being able to perform up to 3 transactions per day, totaling ₱45,000. Binance Gift Card recipients can redeem up to a total value of ₱500,000 per month.

What are the fees for redeeming a Binance Gift Card in the Philippines?

The fees vary per local partner and are subject to change. Please check the DA5/Surgepay website for the latest fees.
Binance Gift Card redemption and processing is free, but exchanging tokens for fiat will require an exchange fee. This will be based on a transaction value tiering system. Please see the examples below:
Transaction value between ₱ 500 to ₱ 5000 - ₱ 50 exchange fee
Transaction value between ₱ 5001 to ₱ 10,000 - ₱ 70 exchange fee
Transaction value between ₱ 10,001 to ₱ 15,000 - ₱ 200 exchange fee

What happens if the recipient loses the redemption code?

The redemption code is a unique code for each gift card. If the code is lost, please get in touch with the sender.