Hey there, I started using the Binance Visa Card last year and was amazed by their offer. I collected throughout the months a nice little amount of rewards.

Now, last month I bought some gifts from an online shop, and sent them back as they were not what we were looking for. I paid via PayPal, where Binance was behind, hence the Binance visa card got charged for it. The online shop received my return and refunded me, PayPal confirmed all fine.

Until today, when I realized that a lot of my refunds never arrived at my Binance card. So I wrote their support, and they confirmed that for every return / refund I have to file in a request with them, every time a refund happens, I have to send them PayPal confirmations of the refund and from the online shop.

I now did it for all transactions in question, amounting to nearly 800$. I don’t understand (1) why I have to request a refund with them, and it is not done automatically as with every other credit card? This is really killing the customer experience. And if I would have not recognized, I would have lost that money.

Furthermore, (2) I am surprised that this is not openly communicated on their T&Cs. The only thing I [found](https://www.binance.com/en/support/faq/frequently-asked-questions-on-binance-card-refund-9b73c3e857b449b6a41762a4c3b27632) mentions a timespan to wait – which is fine – but not receiving the money is kind of another thing. This is nowhere mentioned, and I got it confirmed by their support, which surprises me a lot. Binance would be the one keeping my money for goods I returned…

u/Binance: What are you planning to improve this situation? Why is this even a situation? This should not be something that a user has to rely on. It is industry standard that refunds are automatically allocated. How can I make sure all refunds are processed correctly? I filed in all cases with the customer agent.

@.all: This is truly a reason to ditch the card for me. Anyone had similar experience? How did you handle it? What was the outcome? Why hasn’t this become more of a public discussion? Is it just me having this issue?


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5 Comments

  1. Latteflinker on 5. January 2024 at 2:43

    Thank you for sharing this. I agree with you that this kills customer experience

     


  2. [deleted] on 5. January 2024 at 2:43

    [deleted]

     


  3. thetgrk on 5. January 2024 at 2:43

    Never had issues with this. I get refunded every time without support but the refunds are always in EUR even though I’ve paid in crypto.

     


  4. krimmelnnd on 5. January 2024 at 2:43

    Thanks for this. Crypto is still in infancy, and a lot of mistakes would be made. I’m assuming they do this for security. Good thing we have options like cryptoxpress, utrust, and even coti. You can always check and compare.

     


  5. BinanceCSHelp on 5. January 2024 at 2:43

    Hello there.
    Thank you for providing this information.
    Please, kindly share with us the Case ID, you have opened with our team.

    Typically, you will receive the refund from the merchant within 20 business days. You will receive the refund in EUR.
    And if you have any doubts or you didn’t receive the refunds, please, kindly contact us again, so we could check the issue properly.

    You can also leave your feedback for our relevant team on this page [https://www.binance.com/en/my/user-support/feedback/entry](https://www.binance.com/en/my/user-support/feedback/entry) so we could become even better for you.
    VG