binance refund policy

Binance's comprehensive refund policy provides protection to users against mistaken deposits, double deposits, and unauthorized transactions, excluding lost funds and trading losses, with refunds processed within 1-2 business days for legitimate requests.

Oct 14, 2024 at 09:06 am

Binance Refund Policy

Binance, the world's leading cryptocurrency exchange, offers a comprehensive refund policy to protect its users. This policy outlines the circumstances under which users are eligible for refunds and the steps they need to follow to request one.

1. Eligible Transactions

Refunds are only applicable to the following types of transactions:

• Mistaken Deposits: Deposits made to incorrect Binance accounts due to user error.
• Double Deposits: Duplicate deposits made to the same Binance account within a short time frame.
• Unauthorized Transactions: Withdrawals or trades made without the user's authorization.

2. Refund Exclusions

The following transactions are not eligible for refunds:

• Lost or stolen funds.
• Market price fluctuations.
• Negative balances resulting from trading losses.
• Transactions made prior to the implementation of the refund policy.

3. Refund Procedure

To request a refund, users must follow these steps:

1. Contact Binance customer support via live chat or email.
2. Provide evidence supporting the refund request, such as transaction records, screenshots, or account statements.
3. Submit a formal refund request through the Binance support system.

4. Refund Timeline

Refund processing times vary depending on the complexity of the case. However, Binance aims to process legitimate refund requests within 1-2 business days.

5. Refund Limits

Refunds are limited to the net value of the funds that are missing or involved in the disputed transaction. Binance may impose additional limits based on the specific circumstances.

6. Refund Types

Binance offers two types of refunds:

• Cryptocurrency Refund: Refunded in the same cryptocurrency that was deposited or withdrawn.
• Fiat Refund: Refunded to the user's bank account or payment method used to make the deposit.

7. Additional Information

• Users should keep all records related to their transactions for potential refund requests.
• Binance reserves the right to investigate refund requests and deny any requests that are deemed fraudulent or invalid.
• Binance may adjust its refund policy from time to time at its discretion.