Note: This feature is gradually rolling out in stages. Please refer to the product page for more updates.
UPDATE:TheSend Cash function on Binance Pay has been upgraded. You can now easily access Binance P2P via Binance Pay's Send Cash function to trade digital assets with other counterparties and receive cash in your bank account or e-wallet. For more details about this new P2P integration in the Send Cash feature, refer to the How to Use Send Cash on Binance P2P tutorial.
Using the balance in your Spot or Funding Wallet, you can now directly send cash to your family and friends. The Send Cash function on Binance Pay lets you use crypto to send fiat currency to your recipient via bank or e-wallet transfer.
How to send cash using Binance Pay?
1. Log in to your Binance app and go to [Binance Pay]. Tap [Send Cash].
2. Choose the destination country, receiving currency, and the currency you pay. Enter the amount you would like to pay, or the amount the receiver would like to receive, then tap [Get Quotation]. You’ll see the available channels and their estimated prices. Select your preferred channel.
Note: If Binance P2P supports your selected option, it will be indicated at the bottom of the page.
3. Select a recipient from the recipient list to receive the fund. If there is no existing recipient, you may enter the recipient’s details, including their full name, bank, and account number. After entering the recipient’s details, it will be automatically saved to your recipient list for easy access in the future.
In addition, you need to indicate your source of funds, your relationship with the recipient, and the purpose of the transfer. Please check all details carefully before tapping [Continue].
4. You will see a summary of the payment information. Check carefully before proceeding to the next step.
5. You’ll be asked to confirm your payment. You can choose to pay with funds from your Spot or Funding Wallet or use a combination of the available balance.
6. Verify the transfer with 2FA. You’ll receive email and SMS notifications once the payment is complete.