BINANCE — Binance Bank Charge Explained

BINANCE on your bank statement is a transaction descriptor for Binance, a cryptocurrency company. Binance is the world's largest cryptocurrency exchange, billing for crypto purchases, trading fees and card transactions. Amounts vary by transaction, and UK banks sometimes restrict or flag payments to crypto platforms.

What Is the BINANCE Charge?

BINANCE is a transaction descriptor for Binance, a cryptocurrency company.

Binance is the world's largest cryptocurrency exchange, billing for crypto purchases, trading fees and card transactions. Amounts vary by transaction, and UK banks sometimes restrict or flag payments to crypto platforms. They typically appear as BINANCE; treat any crypto charge you did not make as a possible scam or fraud.

This code appears on your bank statement because banks display a short payment reference — set by the merchant's payment processor — rather than the company's full trading name. The code BINANCE is the official identifier that Binance registered with Visa or Mastercard.

Is the BINANCE Charge Legitimate?

Binance has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

How Do I Cancel or Dispute a BINANCE Charge?

  1. Identify the charge: Confirm the charge is from Binance by checking your email for a receipt or logging into your account on their website.
  2. Cancel your subscription: If you no longer want the service, log in to Binance and cancel your subscription through account settings before the next billing date.
  3. Contact the merchant: If you do not recognise the charge, contact Binance customer support and ask for an explanation and refund.
  4. Dispute with your bank: If the merchant does not resolve the issue, call the number on the back of your card and ask to raise a chargeback on the BINANCE transaction. Provide the transaction date and amount.
  5. Section 75 rights: If you paid by credit card and the amount was over £100, you may have additional protection under Section 75 of the Consumer Credit Act 1974.

What Other Names Does Binance Use on Bank Statements?

Binance may also appear on your statement as:

Frequently Asked Questions About BINANCE

What is BINANCE on my bank statement?

BINANCE is a bank statement transaction code for Binance, a cryptocurrency company. Binance is the world's largest cryptocurrency exchange, billing for crypto purchases, trading fees and card transactions. Amounts vary by transaction, and UK banks sometimes restrict or flag payments to crypto platforms. They typically appear as BINANCE; treat any crypto charge you did not make as a possible scam or fraud. This descriptor appears because banks display a shortened payment code instead of the full company name.

Is BINANCE a scam?

Binance has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

Why is BINANCE on my bank statement?

BINANCE appears on your statement because Binance processed a payment through their card payment provider. The code is set by their payment processor and is the official descriptor registered with Visa or Mastercard. Common reasons include a subscription renewal, a one-off purchase, or a trial period that has converted to a paid plan.

How do I cancel BINANCE?

To stop BINANCE charges from appearing on your statement, you need to cancel your Binance subscription or account. Log in to the Binance website, go to your account settings, and cancel your subscription. If you cannot find the cancellation option or do not recognise the charge, contact your bank to dispute it and block future payments.

How do I get a refund for a BINANCE charge?

If you believe you have been charged incorrectly by Binance, first contact their customer support to request a refund. If they are unresponsive or unhelpful, contact your bank and ask to raise a chargeback. You typically have up to 120 days from the transaction date to raise a chargeback claim. For credit card purchases over £100, you may also be protected under Section 75 of the Consumer Credit Act.

For more information about Binance and all its known transaction codes, visit the Binance merchant page.