It has almost been 5 months since I started trading with Binance. I don't usually use P2P, I use coins.ph instead to cash in. I recently decided to cash out. Since in coins.ph there will be conversion fee, I decided to cash out thru P2P by posting a Sell Order. Since I've decided to do P2P, I've read details on the how to do it and the things I should avoid and be careful about.
Someone bought me around Php3,000.00 worth of USDT (59.12 USDT). The buyer marked the order paid or he clicked "Transferred, Next" so it will appear to me the release crypto button.
He choose Paymaya but I did not receive confirmation from my Paymaya account. To double check, I opened my account to check the transaction. Unluckily, I did not receive any payment and the buyer, I keep on chatting he is not replying.
So, I make an appeal to not release the crypto automatically, since as per Binance policy, they will release the crypto in 2 working days.
"If the buyer paid, but the seller did not receive the payment, Binance customer service agents will contact the seller to release the crypto within 2 working days. If the crypto hasn't been released within the prescribed time, Binance customer service agents will forcibly release the crypto. If the crypto cannot be released normally, the seller needs to contact customer service to communicate, if she/he hasn't contacted, it will be considered as payment was received."
Source: P2P Handling Rules, Binance Appeal Process
In the appeal section, I did send the screenshot of our chat which he did not reply. I also sent my transaction history in Paymaya and chatted the order # as per their instruction.
I am really impatient, so I chatted Binance chat support. The reply is automated and really long, I get drowned. But I only pay attention to this line:
"2 - P2P Appeal
Please note that it will take between 12 to 48 hours for our team to handle the appeal, please do not contact chat support if this deadline has not passed yet. If there is any additional proof, please provide it via the appeal directly.
Note: Please do NOT accept third party payment and do NOT release the order before you actually received payment in your account."
See screenshot here:
So it's standard reply. I cannot do anything than to wait. I am expecting my USDT be frozen for like two days. Ahhhh.
And wait, while I'm writing this post, I have receive a notification from Binance that they have cancelled the order. Yay!
So it's not actually 12 to 48 hours it's around 4 to 5 hours. Whew!
From 11:41 am resolved 4:17pm! Not bad Binance.
Note: This is a personal review without the knowledge of Binance nor my counterparty. Some info are hidden.
Hope this post will help you. Always be careful when buying and selling crypto. Good luck!
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