Your bank shows the money was returned, but the Binance P2P order is still stuck. You haven't received crypto, and the money is gone too. Confusing, right?
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A refund does not mean the order is finished. Bank refunds and P2P orders are two separate systems. Your fiat currency goes back to your bank, but the platform has not released your digital assets. It means neither the money nor the crypto is in your hands. What you do next depends on whether you are the buyer or the seller in this trade.
Case A: You are the buyer (you paid, but the order status is abnormal)
[What to do] After confirming the money has returned to your bank card, open an appeal to cancel this invalid order.
[How to do it]
Open Binance App → Trade → P2P → bottom "Orders".
Find the order under the "Canceled" or "Appealing" tab.
Tap the order → bottom right "Need Help" → choose "Other types of disputes" or "I have paid but the order was canceled".
In the description, explain: You have initiated a bank refund and the money has been returned. Ask the platform to cancel the order and release your purchase quota. Attach a screenshot or electronic receipt of the successful bank refund.
[Done when] The order status changes from "Appealing" to "Closed", and the frozen funds or quota tied to that order in your account return to normal.
Case B: You are the seller (you released crypto, but the buyer initiated a bank refund)
[What to do] Take screenshots of evidence immediately, tell the buyer in the order chat, and submit an appeal.
[How to do it]
Do not settle privately with the buyer first. Open the order chat and politely tell the buyer that a refund has occurred. But platform rules do not allow private refunds or repayments. It must go through the official appeal process.
Click "Need Help" → submit an appeal, choose "Buyer initiated a chargeback after release."
Attach key evidence: order screenshot, a screenshot showing you released the crypto (showing "Released"), and a screenshot of the bank account record showing the funds were withdrawn.
Clearly tell customer service: You have fulfilled your delivery duty. Now the funds were withdrawn. Ask the platform to return the corresponding crypto assets.
[Done when] After submitting the appeal, the order status changes to "Appealing". Binance customer service will freeze the disputed funds for that order and handle it after verification.
Processing flow comparison after a bank refund
| Your role | Main goal | Evidence to submit | Next step |
|---|---|---|---|
| Buyer (money was returned) | Cancel this invalid order and release account quota | Screenshot/electronic receipt of successful bank refund | After the order is canceled, place a new order |
| Seller (released crypto, money was withdrawn) | Recover the crypto that was released | Release screenshot + bank refund notice/transaction reversal proof | After platform review, the corresponding crypto may be returned to the seller account |
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Common failure reasons
Reason 1: Buyer and seller privately agreed to a refund and did not use the platform appeal. Binance P2P appeal rules' "Other types of disputes" clause clearly states: If a private refund agreement is reached without platform records, later problems (for example, the seller denies it) cannot be traced by the platform. All communication and refund operations must stay in the order chat.
Reason 2: The submitted evidence is a screenshot, not a video. According to Binance official appeal requirements, video evidence is much more effective than screenshots. When appealing, try to submit a video of the bank app operation taken with another device (showing your account info, balance, and the withdrawal record for that transaction).
Reason 3: Not following up after the appeal. After submitting an appeal, customer service usually contacts you by email or App notification. If you did not receive an email, check your spam folder, or actively add more materials in "Appeal History".
Risk reminder: A bank refund does not mean the P2P order is automatically canceled. If you are the buyer, do not privately transfer crypto to the seller outside the platform after the money has been returned. This is an over-the-counter trade. Once the seller receives the crypto and disappears, the platform will not help you recover it. Handle everything through the official appeal process.
