Binance P2P Merchant Guidelines

Last Updated: 8 April 2024

Please note that the rules outlined here apply to makers and non-CN merchants only.

To create a fair, secure, and reliable trading environment for users on the Binance P2P platform, all P2P merchants need to abide by the following principles.

General Principles

Be honest, polite, and fair.
Be responsible for your ads. Confirm the price and quantity before you publish.
Always make payments, release tokens, and reply to users in a timely manner. Only accept payments in the methods you advertise and those available on Binance.
Do not cancel orders arbitrarily and do not appeal maliciously. Contact users directly before filing an appeal.
Do not include “Binance”, local bank names, payment method names, or any sensitive words in your nickname.
Binance does not have official representatives on any social media apps or messengers except for Telegram. Please be cautious if someone contacts you and claims that they represent Binance.
The Binance Telegram group only serves one-way communication for the Binance P2P Team to contact merchants.
Please do not seek support from the Telegram group.
The Binance P2P team email (p2p@binance.com) does not support any form of inquiries. For merchant support, please use Binance Chat.

Important Note: The maker fee scheme is effective from 2021-07-01 00:00 UTC. The taker fee scheme is effective from 2023-09-18 00:00 UTC.

Under the new fee schemes, Binance P2P is charging transaction fees to makers (those who post trade advertisements) and takers (those who buy/sell cryptocurrencies by placing an order from existing advertisements on the P2P platform). The fee rates range from 0% to 0.35%, depending on fiat markets and trading pairs.
Binance also launched a P2P Merchants VIP Program. All Binance P2P Verified Merchants can enjoy an exclusive 20 - 50% VIP discount on trading fees based on their monthly trading volume and completion rate.
For exclusive Binance Merchant support, please get in touch with us via Binance Chat.

Trading Principles

Ⅰ. Payment and receipt of funds

1. Binance requires the account holder's personal/corporate name on your payment method to be consistent with the name you used in identity verification on Binance. If your name is not identical to that on your ID/Passport, please contact Binance Chat for assistance.

2. When receiving funds, if the counterparty’s bank account information is inconsistent with their verified name on the platform, do not release the crypto. You can make a refund to them, and the counterparty should cover any fee charged by the payment method for the refund. Furthermore, we strongly recommend you report that order through Binance Chat (P2P Merchants - Report Scams).

3. When making a payment, merchants can cancel the order if the counterparty uses a non-authenticated account to receive the payment. We strongly recommend you report that order to us through Binance Chat (P2P Merchants - Report Scams).

4. You are encouraged to ask for additional identity verifications from the users. However, users have the right to refuse. If they refuse to provide further information, you are advised to terminate the trade by refunding the user, canceling the order directly, or asking the CS team to help cancel the order.

5. We discourage use of payment methods that don’t display the payer's name to the counterparty, as this cannot verify whether their name is consistent with the name on Binance. If disputes arise from using payment methods that do not display real names, the payer should always be responsible for the loss.

Ⅱ. Asset security

1. Merchants must not participate in any form of transactions involving illegal funds.

2. When the user complains that their bank card is frozen after receiving payment from the merchant, the merchant must cooperate with Binance to provide evidence actively. If the merchant’s bank account is frozen due to the counterparty’s fault, the merchants shall contact local police immediately and ask the police to email the Binance Law Enforcement team directly.

Please reach out to us by sending a request to our Law Enforcement Request System via the official email address. Please attach the following documents in the email:

The investigating officer's photo, name, email, and contact number;
An official document of assistance with an official seal;
A letter that specifies what information Binance needs to provide to cooperate with the investigation. For example, providing the counterparty’s account information, address, real name, phone number, etc. Binance will fully comply with law enforcement upon receiving the documents mentioned above.

3. If a merchant brought illegal digital assets or illegal funds into Binance, resulting in legal risks and the loss of assets for Binance and its users, Binance has the right to disqualify the merchant, ban all their activities, and confiscate the security deposit.

Ⅲ. Operating rules

1. Please read the Merchant Portal Tutorial carefully before trading.

2. You are not encouraged to trade with users outside the Binance P2P platform. If you trade with users privately, Binance will not bear any responsibility for any losses. You should not indicate any personal contacts (social networks, messengers) in the ads, the trading conditions, or the auto-reply.

3. After completing the payment, you should contact the counterparty directly if they do not release the tokens after 15 minutes. If there is no response, click [Appeal] and wait patiently for the Binance P2P agent to contact you.

4. You must not make a small amount of transfer to the user's bank account for testing purposes without their consent.

5. You can only post 3 online ads of the same order type (buy/sell) and the same crypto-fiat pair.

Order Type (Buy/Sell)	USDT	BTC	ETH	BNB	BUSD	RUB/UAH/NGN/BIDR
Max. Number of Orders per Fiat Currency	3	3	3	3	3	3

5.1. For all fiat markets (except EUR), you can only post 1 online ad in the same direction (buy/sell) for the same crypto-fiat pair. If the price, payment method, total order amount, or order limit of the second ad is the same as the first ad, your ads will be closed.

5.1.1 For all fiat markets (except EUR, VND, THB, PHP, IDR, LAK, KHR, MNT, MMK, BND, TWD): If you want to post 2 online ads of the same direction (buy/sell) and the same crypto-fiat pair, the price difference of the ads should be ≥ 0.5%.

5.1.2 For all LATAM fiat markets (ARS, BOB, BRL, CAD, CLP, COP, CRC, DOP, GTQ, HNL, MXN, NIO, PAB, PEN, PYG, UYU, VES, BZD, JMD, TTD, BSD, and HTG): You can only post 2 online ad in the same direction (2 buy/2 sell) for the same crypto-fiat pair. If the price of the second ad is the same as the first ad, your ads will be closed. The price difference must be larger than 0.1%.

For example:

Buy Ads

A merchant posts 2 USDT/USD buy ads:

Ad A price: 1/0.98, payment method: Wise
Ad B price: 1/0.98, payment method: Revolut

As the prices of Ad A and B are the same, the ads will be closed, and the merchant will receive a warning.

A merchant posts 2 USDT/USD buy ads:

Ad A price: 1/0.98, payment method: Wise
Ad B price: 1/0.99, payment method: Revolut

As the prices of the ads are different, the merchant didn’t violate any guidelines.

Sell Ads

A merchant posts 2 USDT/USD sell ads:

Ad A price: 1/1.00, payment method: Wise
Ad B price: 1/1.00, payment method: Revolut

As the prices of Ad A and B are the same, the ads will be closed, and the merchant will receive a warning.

A merchant posts 2 USDT/USD sell ads:

Ad A price: 1/1.00, payment method: Wise
Ad B price: 1/1.01, payment method: Revolut

As the prices of the ads are different, the merchant didn’t violate any guidelines.

6. You cannot post links to third-party resources in the “remarks” or “auto-reply” sections, especially with links to other exchanges/P2P/OTC platforms.

7. We may hide or close your ad without prior notice if you violate the Merchant Guidelines. We may also hide your ads if they fall under these conditions.

Ⅳ. Disqualification

You may be disqualified if one of the following conditions exists:

1. You do not cooperate with our customer support team when processing the appeal order.

2. You charge any form of extra fees or commissions from users.

3. You contact the user to carry out transactions outside the Binance platform.

4. You leak the user's name, contact information, address, and other related information.

5. You spread false information that affects Binance.

6. You gain an advantage through unfair competition.

7. You use more than one merchant account to take advantage of trading or block assets of other merchants.

8. You receive a large number of negative feedback from other users.

9. You use foul and offensive language on the platform. This includes, but is not limited to, the tools permitting messaging with other users, customer support live chat, and the order comment section.

10. You engage in any type of price or market manipulation activities.

Types of Violation	Behavior	1st Violation	2+ Violations
Payment and receipt of funds	The merchant uses an account that is inconsistent with their Binance account's verified name, but the merchant does not refund the user and the user appeals	Warning	Disqualification
	The bank account provided by the merchant is abnormal and the merchant failed to provide an effective payment method in a timely manner, which caused the user cannot complete the payment and appeals	Warning	Disqualification
	The merchant clicks [Transferred, notify seller] before completing the payment and the user appeals	Warning	Disqualification
	The merchant makes payments using accounts that are inconsistent with their verified personal or corporate name on Binance and the user appeals	Trading banned for 1 week	Disqualification
Types of Violation	Behavior	Results
Failed to meet the required assessment metrics	The average release time and payment time have been below average for the past 30 days	Possible disqualification
	The order completion rate has been below average for the past 30 days	Possible disqualification
	Appeal Rate ≥ 3% (appeal rate = the number of complaints / total number of matched orders)	14 day P2P activity suspension or possible disqualification
	Valid Complaint Rate ≥ 1% (Valid Complaint Rate = the number of appeal cases with Respondent Responsibility / total number of matched orders)	14 day P2P activity suspension or possible disqualification
	The merchant did not complete any orders in 2 consecutive weeks	Disqualification
	The merchant is unresponsive to appeals ≥ 2 times per week	Possible disqualification
	The merchant requested the user to complete identity verification without enabling the “Additional Verification“ tag in the ad	All violated ads will be closed and all P2P activity will be suspended up to 14 days, or possible disqualification
	The merchant received a large number of negative feedback from other users	Possible disqualification
Types of Violation	Behavior	Results
Risk control triggered	Binance verified that the user’s bank card was frozen due to the payment made by the merchant, and the merchant failed to provide a bank statement within the given timeframe	Ads will be removed and all trading activities will be banned until the investigation is complete
	The risk control system detects an abnormality, and the merchant refuses or does not actively cooperate with Binance for investigation	Disqualification
	The risk control system detects that the merchant uses other accounts to wash trades and block other merchants’ ads intentionally	Disqualification
	Merchant engaged in price or market manipulation activities	Disqualification

V. Withholding Merchant Deposit

Please note that in some major violation cases, Binance P2P may withhold the merchant deposit. Therefore, it is important for you to respect and adhere to the Binance P2P Merchant Guidelines. For more details, please visit Supplementary Clauses to Advertiser Management Regulations on Security Deposit Assets.