🔍 Use of third-party accounts in Verified Merchants,
Not every third-party payment is allowed on P2P… and assuming it is can end in rejection, chargeback, or even suspension. ⚠️
This week, the Binance P2P LATAM announcement channel shared a statement to clarify questions about using third-party accounts in P2P operations.
What’s the key point?
It depends on the country, the currency, and the type of account.
📌 The most important part of the announcement:
In the P2P USD market, third-party payments are enabled only for verified merchants in Panama, El Salvador, Ecuador, Peru, and Uruguay, and only for personal bank accounts.
In other LATAM markets, third-party payments may be allowed if the account is personal and the currency is not USD.
⚠️ Argentina is excluded from this exception: in that country, this type of payment is not allowed.
Payments between merchants from different eligible countries may also be allowed, as long as the indicated conditions are met.
Now, just because this possibility exists doesn’t mean everything is allowed.
If you’re going to operate with third parties, you must take care of sensitive points:
✅ Use personal bank accounts, not business accounts
✅ Clearly state in your terms and conditions for the announcement that you will use third-party accounts.
✅ If the user rejects that payment, you should refund and cancel the order.
✅ Prevent the same bank account from being used by multiple Binance accounts.
✅ Operate from a personal Binance KYC account, not a corporate one.
✅ This option applies to verified merchants with an insignia in their own announcement.
Binance continues to promote the use of one’s own personal accounts.
ℹ That’s why, if the counterparty doesn’t agree to third-party payments, you should not force the transaction.
🧾 Clear rule:
If you use third parties, do it only when the market allows it and under very clear conditions.
In P2P, a misinterpreted detail can turn into an appeal, a dispute, or a restriction.
⁉️ Have you in your market already seen confusion about the use of third-party payments?
#Binance #BinanceP2P #P2P #BinanceSquare #ComerciantesP2P