Refunds in a different coin than you paid with usually happen because the asset actually used for your payment was not the coin you thought you were paying with. Binance Pay's refund rules in the official FAQ state it directly: refunds are returned in the cryptocurrency the merchant received, credited to your Funding Wallet. But this rule has an easy-to-miss condition — it assumes you only paid with one coin. If you enabled "Pay with different coins" or completed the transaction through specific channels like QR code payments, the refund path can differ from the intuitive "same coin back" expectation.
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First, check your payment history: what did you actually pay with?
By default, Binance Pay prioritizes deducting the same asset as the order currency from your Funding Wallet. If the balance is insufficient, it uses other coins based on your payment priority settings. This creates a common scenario: you think you paid with USDT, but your Funding Wallet didn't have enough USDT, so the system automatically deducted BNB or ETH to cover the difference. When a refund happens, the merchant returns whatever coin they received — the system won't automatically convert it back to USDT for you.
So the first step is not contacting support, but opening the Pay history in your Binance App, finding that order, and checking the actual assets and amounts deducted in the details page. If the deduction record shows more than one coin, the refund may also come back in multiple assets rather than the single coin you expected.
When using "Pay with different coins," refunds follow the converted coin
Binance NFT Marketplace's official documentation explains this logic clearly: if you converted ETH to BNB to complete a payment, the refund will be returned in BNB. At the moment of payment, you already completed an exchange — ETH became BNB, and what you actually paid with was BNB. Refunds return the "coin you paid with," not the "coin before conversion."
The same rule applies to Binance Pay scenarios beyond NFTs. If you selected to use other assets to cover the payment, or the system automatically converted your holdings based on priority, the refund will arrive in the currency the merchant actually received. To avoid this, make sure your Funding Wallet has enough of the order currency before paying, or adjust your payment priority so the target coin is listed first.
QR code payment refunds: may be settled in USDT
For payments completed through the Binance Pay QR code feature, the refund rules are different. Binance officially states that refunds for QR code transactions will be issued in USDT, with the amount calculated at the exchange rate when the refund is processed. If you paid with a QR code denominated in local currency (such as tourist payment scenarios in Vietnam or the Philippines), or the merchant's settlement currency is not an asset in your account, the refund will naturally not return to the coin originally deducted from your account.
This is not an error but a result of the settlement mechanism of the QR code payment channel. Payment and refund go through two different clearing paths, with exchange rate conversion in between. If you recently used tourist QR code payments, a mismatch between the USDT amount refunded and the coin amount originally deducted is an expected outcome.
Third-party merchant handling may amplify the difference
Binance Pay itself is a payment channel. Specific refunds are initiated by merchants and executed by processors. Taking travel booking platforms as an example, some merchants' help documents state: refunds return the value of the order, not a fixed coin amount. The processor converts the fiat value back to cryptocurrency at the exchange rate at the time of refund. If the coin price rose between your payment and the refund, you'll receive fewer coins; if the price fell, the opposite happens.
This scenario does not contradict Binance's official "same coin back" rule, but the scope of application differs. Binance's official FAQ describes the platform-level default rule, while refunds initiated by third-party merchants through payment processors may be value-based rather than coin-amount-based. To determine which type your refund falls under, look at where the order was completed: transactions directly within the Binance ecosystem (such as the NFT Marketplace) follow platform rules; payments made through external merchant websites that redirect to Binance Pay depend on the merchant's terms.
Three places you need to check
After a refund arrives, don't just focus on the "wrong coin" issue. Check in order:
First, the refund details in Pay history. The order details page usually shows the refund status and the asset type refunded. If it shows "Refunded" but you can't see the corresponding asset, first confirm whether your Funding Wallet filter includes that coin.
Second, the actual balance changes in your Funding Wallet. Binance Pay refunds go to your Funding Wallet by default. If you're looking in your Spot Wallet, you naturally won't find them. Some scenarios (such as Pay Later refunds) go to the Spot Wallet — another branch to keep in mind.
Third, the relationship between refund time and exchange rate. If the refund is executed in USDT or by value conversion, the amount received depends on the exchange rate at the time of refund execution, not the rate when you paid. You cannot change a completed conversion after the fact, but you can record the execution time and amount shown on the refund details page as a basis for later verification.
If you've confirmed all three places and the refund truly hasn't appeared in any account, or the amount clearly differs from the record on the order details page, then submit a ticket through the in-app customer service portal with the order number and a screenshot of the refund details page. Before that, rule out the two most common causes: "looking in the wrong account" and "coins were automatically converted."
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References
- Binance·Binance Pay Frequently Asked Questions，2026-10-31
- Binance·How to Purchase NFTs Using Binance Pay on Binance NFT Marketplace，2026-10-31
- Binance·How to Use Tourist Payments via QR Codes in Vietnam (VietQR, Momo) and the Philippines (QRPH, InstaPay)?，2026-10-31
- Binance·How to Use Pay Later in Binance Pay?，2026-10-31
- trip1·How do refunds work for a hotel booked with Binance Pay?，2026-10-31
