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How to Make Payments with Binance Bahrain Card

2022-09-07 05:09
1. How does the Binance Bahrain Card work?
The Binance Bahrain Card supports real-time cryptocurrency to fiat currency conversion, enabling you to spend your crypto assets with merchants globally.
2. In which order does the Binance Bahrain Card use my cryptocurrency in the Spot/Funding Wallet?
The Binance Bahrain Card uses an aggregate value of your selected cryptocurrencies in your Spot/Funding Wallet to make purchases based on the payment priority you set in the Card Dashboard.
Currently, the Binance Bahrain Card supports 11 cryptocurrencies, including BUSD, USDT, USDC, BTC, BNB, ETH, ADA, DOT, SOL, MANA, and SXP.
You can add, remove, or rearrange the order of the spending cryptocurrencies from [Card Dashboard] - [Payment Priority] - [Edit]. The system will follow the payment priority when you make a purchase with your Binance Bahrain Card. Please note that you must have at least 6 cryptocurrencies in your Payment Priority list. A maximum of 12 cryptocurrencies can be selected.
If the BUSD balance in your Funding Wallet is sufficient, the purchase will be made solely by converting your available assets to BUSD. If your wallet balance is insufficient, the system will automatically check whether your BUSD and USDT balances can cover the purchase following the payment priority you set.
3. Will my payment be declined if the balance of my prioritized cryptocurrency is insufficient?
The transaction should go through if the aggregated balance in your Spot/Funding Wallet equals to or is greater than the amount the merchant is attempting to charge. Binance will automatically use all available cryptocurrencies in the order you selected or based on the balance left in the Wallets to complete the transaction.
Your Spot Wallet will be automatically enabled as an additional source of funding for making payments. Find out more about using your Spot Wallet as a backup source of funding here.
4. Where can I use my Binance Bahrain Card?
You can use your Binance Bahrain Card anywhere in the world at any Mastercard merchant.
5. How do I use the Binance Bahrain Card to make transactions online?
You can use the Binance Bahrain Card to make transactions online by entering your Card details on the payment page when you checkout.
6. When will the funds be returned to my Funding Wallet if a transaction is declined?
If a transaction is declined after the funds were deducted from your Funding Wallet, e.g., due to the network issues that are out of Binance’s control, your funds will be returned to your Funding Wallet (in BUSD) within 2 hours.
7. Can I pay for products and services in a foreign currency?
Your card is denominated in USD. If you make a purchase or an ATM withdrawal in any other currency, we will convert the amount of the transaction into USD using the exchange rate set by Mastercard on the day they process the transaction. Please note that this conversion rate may differ from the conversion rate on the actual date of the transaction. You may check the conversion rate for each transaction in the transaction details.
8. Can I transfer funds to the Binance Bahrain Card from third-party platforms?
You cannot top up your Binance Bahrain Card from other external platforms. Funds that are sent directly from third-party platforms will not be credited to your Binance Bahrain Card balance and might result in the loss of these funds.