How to Choose the Recipient Type in Binance's Travel Rule
The "Recipient Type" in Binance's Travel Rule is mainly divided into Personal Account and Corporate Account. Which one to choose depends on the purpose of the transfer and the nature of the recipient.
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Why is this option appearing?
The Travel Rule is a global anti-money laundering standard established by the Financial Action Task Force (FATF). It requires virtual asset service providers to collect and transmit sender and recipient identity information during cryptocurrency transfers, in order to increase transaction transparency and prevent illicit financial activities. In regions where Binance complies with this rule (such as Japan, India, UAE, the EU, etc.), users will see a questionnaire during deposits and withdrawals asking them to fill in the recipient's or sender's information.
Specific options for Recipient Type
According to Binance's official developer documentation, the "Recipient Type" in the withdrawal questionnaire usually has the following two options:
| Type Code | Option Name | Applicable Scenario |
|---|---|---|
| 0 | Personal Account | You transfer to an individual (including yourself), the recipient is a natural person |
| 1 | Corporate Account | You transfer to a company, institution or organization, the recipient is a legal entity |
In questionnaires across different regions, the labels for these two options may slightly differ. API documents for regions such as Japan and New Zealand list the above codes directly; documents for India, UAE, Bahrain, Europe, etc., also distinguish the nature of the recipient based on the same logic.
How to choose correctly?
The core principle for choosing Personal Account or Corporate Account is just one thing: decide based on the actual identity of the recipient, not on who you are.
Situation A: Withdrawal to yourself Transferring to your own external wallet or personal account on another exchange; the recipient is you.
Recipient Type: Select Personal Account.
Other required information: Your name, country of residence, city, etc.
Situation B: Withdrawal to someone else Transferring to family, friends, or paying fees for services, shopping, etc.
If the recipient is an individual: Select Personal Account, and provide their name, country, city, etc.
If the recipient is a company or institution (e.g., a business paying you): Select Corporate Account, and provide the company name, country of registration, etc.
Situation C: Deposit/Receiving (Supplementary Note) If you are depositing (topping up) to Binance, the question will instead ask for the "Sender (Remitter) Type", with the same options of Personal Account or Corporate Account. The logic is the same — select based on whether the party sending funds to you is an individual or a business.
Completion standard: After selecting the "Recipient Type" (or "Sender Type"), the page will automatically expand the corresponding personal information or corporate information fields. Once successfully submitted, you can continue with the withdrawal or deposit process.
Common failure reasons
Wrong type selection: Selecting Corporate Account when it should be Personal Account, or vice versa. The system may fail verification and require you to re-enter.
Information mismatch: Selecting Personal Account but filling in a company name, or spelling of the name does not match ID documents.
Missing required fields: Not completing the required fields corresponding to the selected type (e.g., city, country code), resulting in inability to submit.
Risk reminder
Fill truthfully: Travel Rule information is used for anti-money laundering compliance review. Intentionally providing false information may lead to account risk control, freezing, or even legal consequences.
Threshold limit: The amount threshold triggering the Travel Rule varies by region. The EU has no minimum limit, so all transfers require filling it out. If no questionnaire appears during withdrawal, it means the transaction amount does not exceed the local threshold, or the recipient address already has saved information.
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Confirmation
After filling in the recipient type and other required information and successfully submitting, Binance will continue processing your withdrawal or deposit request. It is recommended to save the recipient address to your address book so you won't need to re-enter information for future transfers to the same address.
