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What Is the Dispute Handling Fee?
2024-08-30 09:54
Last Updated: 18 October 2024
Binance may levy a dispute fee in the event of a user initiating a dispute claim for a completed, canceled, or expired transaction on the Binance P2P platform. Details regarding our standard dispute fees are as follows:
Standard Dispute Fees
Complainant
Defendant (Refunder)
First 3 times
Free of charge
Free of charge
4th time onwards
1%, capped at 10 USDT max
Free of charge
Complainant (party initiating the dispute): No charge for the first 3 instances. For all subsequent instances, a fee of 1% of the dispute amount will be charged, up to a maximum of 10 USDT.
Defendant (party making the refund): No charge, regardless of the number of disputes.
Binance handles dispute resolution for P2P transactions that are completed, canceled, or expired. A dispute fee is charged when a dispute is resolved with a refund through the Binance Fund Recovery Center. This fee is deducted from the complainant's refund amount.
The fee is based on the dispute amount at the time the dispute is created. It is waived for the first 3 disputes raised by a user but applies from the 4th dispute onward.
You will NOT be charged a dispute fee for:
The first 3 disputes you escalate as a complainant.
Disputes resolved directly between the buyer and seller without Binance's intervention.
Frequently Ask Questions
1. How do I open a dispute with a seller or buyer?
You can raise a dispute or appeal for a completed, canceled, or expired P2P order directly on the Binance app or website. For more details, please refer to How to Appeal for Canceled/Completed P2P Orders.
2. How do I check the status of my dispute?
To check your dispute status, click [Appeal History] for details. Note that while Binance facilitates the process, resolution depends on your trading counterparty's cooperation, and a refund is not guaranteed.
3. What is the Binance Fund Recovery Center?
The Binance Fund Recovery Center assists users in recovering funds lost during P2P trading. It works with Binance's P2P support team to investigate claims and request refunds from trading counterparties. Refunds, if approved, are credited to the receiver. This service aims to enhance user security and trust.
4. How do I withdraw my dispute?
If your issue has been resolved, tap [Cancel Appeal] to close the dispute.
5. How do I provide the proof for my dispute claim?
Tap [Appeal History]. Submit further evidence, including video recordings and screenshots from the Binance app, along with a detailed explanation of your situation. Then tap [Submit].
6. How do I (Defendant) issue a refund in a dispute?
To resolve the dispute by refunding the crypto amount to your counterparty, follow the steps below:
Step 1: Access the withdrawal page
On the Binance app:
1. Go to [Wallets] - [Spot] - [Withdraw].
2. Tap [Withdraw Crypto] - select crypto - [Send via Crypto Network].
Step 2: Upon loading the page, you'll see a notification banner at the top, detailing the nature of the dispute and the refund amount.
Step 3: Select [Deduct Now] and follow the prompts to complete the refund process.
Ensure your Spot Wallet has sufficient funds. Once the transaction is completed and no other P2P disputes exist, your P2P access will be automatically reactivated.
7. How long does it take to resolve a dispute?
Resolution speed depends on the counterparty's cooperation and may take up to 7 days. Refunds are not guaranteed. Binance may suspend uncooperative users and freeze related dispute funds if available.
8. What is the Binance P2P Dispute Fee and why was I charged one?
The Binance P2P Dispute Fee covers administrative costs for resolving disputes. This fee applies if you initiate a dispute requiring Binance support intervention, ensuring an efficient and fair process.
Note:
The fee is waived for the first 3 disputes. It applies from the 4th successful dispute onwards.
The dispute fee will be calculated based on the value equivalent to USDT. For example, if BNB is priced at 600 USDT, a 1% dispute fee would be 6 USDT, which is equivalent to 0.01 BNB.
9. How can I appeal Binance's decision on my case?
If your previous dispute was rejected, you can raise another dispute with additional information and evidence. Ensure all proof is unedited and meets requirements. Please clearly explain your issues to receive faster assistance.
For more details regarding P2P Order Appeal/Account Suspension, please refer to:
