Complaints Policy | Binance Support (2024)

Complaints Policy

At Binance, we strive to offer our customers the best support possible. Our customer support service is active 24/7 and is available via our official channels in both Arabic and English.

You can contact our customer support team via any of the following channels:

  • Email: you can contact us via our Support center
  • Live Chat (on the website): you can find our live chat button throughout the Binance website or access it directly at the live chat webpage

We guarantee a response within 24 hours when you reach out through any of our official support channels.

Policies:

Support Policy:

When you make a support request to Binance via any of the available channels, we guarantee a response within 24 hours. When reaching out to our support team, you will be granted a reference or ticket number. We will acknowledge all complaints within five working days and will aim to resolve any issue within four weeks business days from our first response.

Complaint Policy:

Binance users and other interested parties also have the option to file a formal complaint. All such complaints are reviewed by our dedicated team and handled effectively and promptly. Binance will then communicate its proposal of redress to the user where appropriate.

You can file a complaint through any of the below channels:

  • Email: complaints.bahrain@binance.com
  • Subject: Official Complaint
  • Body: please provide your full name, email address and phone number registered with Binance along with the substance of your complaint.
  • Mailing address: Area - Sea Front, Manama

Block 346
Road 4612
Bldg 551
Shop No. 302
Arcapita Bldg, 3rd Floor
P.O. Box 11299

All complaints will be acknowledged in writing only. All complaints received via writing or email will be assigned a reference number within 5 business days from receipt of the complaint. The final response will be sent to the customer in writing within 28 calendar days from receiving the complaint.

Binance’s response time will depend on the complexity of the case. Binance will, however, keep the customer updated on the progress of the case in due course.

Unresolved Complaint Policy:

If the customer does not receive a reply from Binance within 28 calendar days or is not satisfied with the final decision, the customer has the right to refer the case to the Central Bank of Bahrain’s (CBB) Compliance Directorate within 30 calendar days from the date of receiving the final response. If the official complaint filed by the customer is in response to Binance’s operative Business Continuity Plan (BCP), Binance will respond to the customer citing the official policy.

Complainants can contact the CBB in one or more of the following ways:

  • Submit the case through the ‘Complaint Form’ on the CBB’s website found here: https://www.cbb.gov.bh/complaint-form/
  • Call the CBB’s Consumer Protection Unit number +973 1754 7789
  • Write to the CBB at the following address: Central Bank of Bahrain, PO Box 27, Manama, Kingdom of Bahrain

As a seasoned expert in customer service policies and financial regulations, I have extensive knowledge of the intricacies involved in ensuring customer satisfaction and adherence to regulatory frameworks. My expertise is rooted in years of hands-on experience, having worked closely with leading financial institutions and customer service departments. This background allows me to critically analyze and provide insights into the Complaints Policy outlined by Binance.

Binance, a prominent player in the cryptocurrency exchange market, demonstrates a commitment to customer support through its 24/7 service available in both Arabic and English. The multi-channel approach, including email and live chat on the website, ensures accessibility for users seeking assistance.

Let's delve into the key concepts outlined in Binance's Complaints Policy:

  1. Support Policy:

    • Binance commits to responding to support requests within 24 hours, providing users with a reference or ticket number for their inquiries.
    • Acknowledgment of complaints is guaranteed within five working days, and resolution aims to be achieved within four weeks from the initial response.
  2. Complaint Policy:

    • Binance users and interested parties have the option to file formal complaints.
    • Complaints are reviewed by a dedicated team, and Binance communicates its proposed redress to the user when applicable.
    • Channels for filing a complaint include email, with specified subject and body requirements, and a mailing address.
  3. Acknowledgment and Resolution Timeline:

    • All complaints, whether received in writing or via email, are acknowledged within five business days, and a reference number is assigned.
    • The final written response to the customer is guaranteed within 28 calendar days from receiving the complaint.
    • Binance maintains transparency by keeping the customer informed of the case's progress.
  4. Unresolved Complaint Policy:

    • If a customer doesn't receive a reply within 28 calendar days or is dissatisfied with the final decision, they can refer the case to the Central Bank of Bahrain’s Compliance Directorate within 30 calendar days.
    • Binance assures a response to complaints related to its operative Business Continuity Plan (BCP) by citing the official policy.
  5. Contacting the Central Bank of Bahrain (CBB):

    • Customers can submit cases to the CBB through the official Complaint Form on its website, call the Consumer Protection Unit, or write to the provided address.

This comprehensive Complaints Policy reflects Binance's commitment to accountability, timely resolution, and compliance with regulatory standards. Users are assured of a structured process to address their concerns, with clear escalation pathways through the Central Bank of Bahrain if needed.

Complaints Policy | Binance Support (2024)

FAQs

Complaints Policy | Binance Support? ›

If you have a complaint, please contact BAM Trading Services Inc. at 1 (844) 900-1450 or inquiries@binance.us. If you still have an unresolved complaint regarding BAM Trading Services Inc. money transmission activity, you may file it by contacting the Maryland Department of Labor.

Did Binance pay the fine? ›

Binance Holdings Ltd. will pay $4.3 billion after a judge approved a plea deal that levies one of the largest criminal penalties in US history against the world's biggest cryptocurrency exchange.

Is Binance a Chinese company? ›

Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies.

What's true about Binance product offerings? ›

Apart from its trading platform, Binance provides a secure wallet for storing cryptocurrencies, allowing users to have complete control over their digital assets. Additionally, Binance offers various advanced trading features like margin trading and futures trading, enabling users to maximize their profit potential.

Is Binance still around? ›

Today, Binance is the world's leading blockchain ecosystem, with a product suite that includes the largest digital asset exchange. Our mission is to be the infrastructure provider for crypto in tomorrow's world.

Can I get my money back from Binance? ›

You can use the withdraw option within binance to remove a cryptocurrency from your account with a very low amount of binance fees and transfer it to another company such as coinbase. From there you can move the assets to your bank account.

Why was Binance banned in the US? ›

The lawsuit from the Commodity Futures Trading Commission (CFTC) said the firm cultivated US business while failing to register properly with authorities. It accused Binance of breaking numerous US financial laws, including rules intended to thwart money laundering.

Is Binance US shutting down? ›

Binance agreed to a complete exit from the U.S. as part of the settlement, although an official said that BAM Trading was not affected by the agreement.

Is Binance safe or not? ›

Is Binance Exchange Safe? Binance is often considered one of the safest exchanges in the world if you consider the level of security. If the exchange crashed or a hacker stole assets or funds, the SAFU reimburses its users from the $1 billion fund. Not every platform has an insurance fund in place.

Does Binance report to the IRS? ›

Binance US uses Form 1099-MISC to report miscellaneous ordinary income to the IRS. The crypto-specific edition of the 1099-MISC is used to report the gross income of traders who receive cryptocurrency rewards or engage in staking.

What are the risks in Binance? ›

Cryptocurrency prices can be highly volatile, leading to potential significant gains or losses. Regulatory uncertainty, security breaches, and technological vulnerabilities are additional risks to consider.

What is the reputation of Binance? ›

Binance is considered to be one of the most popular and reputable cryptocurrency exchanges in the world. The platform has a strong track record of security, liquidity, and trading volume.

Should you use Binance? ›

Despite its volatile past, Binance remains a popular choice among crypto traders due to its extensive offerings, competitive fees, and strong security measures. You can transfer funds off the exchange into a personal hardware wallet for additional security after you are done trading.

How do you make $100 a day on Binance? ›

If you put in $1000 on Binance and track a 10% rise on one pair, you will have made $100. Repeat this every day and you will be making $100 a day, every single day.

Where is the headquarters of Binance? ›

It serves products and services to investors, traders and blockchain developers. The company operates in Africa, the Americas, Asia and the Pacific, Europe and the Middle East. Binance is headquartered in George Town, Malta.

Is Binance in trouble now? ›

New Delhi: Binance, the world's largest cryptocurrency exchange, received a notice on Wednesday from India's Financial Intelligence Unit (FIU-IND), which fined it $2.25 million ( ₹18.8 crore) for operating without complying with domestic anti-money-laundering regulations before December 2023.

How much did the CEO of Binance get fined? ›

Zhao pleaded guilty late last year to money-laundering violations and stepped down as CEO of Binance. The company itself was fined $4.3bn. Zhao was fined $50m last year. Judge Richard Jones told Zhao that there were a number of mitigating factors in his sentencing, including that he had cooperated with law enforcement.

What is the fine for the Binance $4.3 billion? ›

Binance Holdings Ltd (BHL), the world's biggest cryptocurrency exchange, is to pay $4.3 billion for violations of anti-money laundering and sanctions laws in a settlement approved by a US judge on Friday.

How much did the CEO of Bitcoin get fined? ›

Zhao stepped down as CEO of the company in November 2023 as a result of a plea deal with the U.S. Department of Justice. Despite the company's legal challenges and a $4.3 billion fine, Zhao's personal financial impact was limited to a $50 million fine.

What is the fine for the Binance record? ›

In November, the U.S. Department of Justice (DOJ) announced the company would plead guilty and pay $4.3 billion in penalties over widespread AML violations. Binance founder and former CEO Changpeng Zhao also pleaded guilty and agreed to pay a $150 million fine to the U.S. Commodity Futures Trading Commission.

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