Binance currently does not support direct deposits via RMB bank cards. Since the policy adjustment in 2021, the only compliant path for mainland users to deposit funds into Binance using RMB is to buy USDT in the C2C trading section (formerly fiat trading), and then transfer the USDT from the Funding account to Spot/Futures/Earn for use. Note: USDT bought through C2C is a crypto asset, not a fiat RMB balance in a bank account. Therefore, strictly speaking, a "fiat account" in the Binance system refers more to USDT/USDC as a unit of account. To jump directly to the operation page, you can click Binance Official Website, or use the Binance Official APP to enter the C2C section; if you cannot install the APP on Apple devices, click the iOS Installation Guide to see the region switching method. Below, we clarify the three parts: buying coins via C2C, payment safety, and USDT usage boundaries.
I. The Only Compliant Path for RMB Deposits into Binance
Since September 2021, Binance has fully delisted RMB fiat gateways (UnionPay, Alipay, WeChat, etc.). Currently, for mainland users, buying USDT via C2C peer-to-peer trading in the APP is the only way to convert RMB into Binance assets.
This process is actually a "peer-to-peer transaction between you and a merchant holding USDT": you transfer RMB to the merchant via Alipay/WeChat/bank card, and the merchant releases USDT from their Binance account to your Binance account. Binance only acts as the escrow and dispute arbitrator and does not directly touch your RMB.
| Deposit Method | Supported | Description |
|---|---|---|
| Direct Bank Card Deposit | No | Fully delisted after 2021 |
| Alipay / WeChat Direct | No | No official gateway |
| Buy USDT via C2C | Yes (Recommended) | Main path, supports Alipay/WeChat/bank card |
| Buy Crypto with Foreign Credit Card | Partial | Visa/Master with 3D Secure, fee 2%+ |
| SEPA Euro Transfer | Yes | EU bank accounts only |
| Other Fiat Channels | Regional | For GBP / TRY / AED and other regional currencies |
Conclusion: RMB users cannot directly "deposit RMB" into Binance; they can only convert RMB into USDT via C2C to enter the account.
II. Complete Steps for Buying USDT via C2C
Below is the standard process on the APP; the path on the PC version is basically the same.
Step 1: Complete Real-Name KYC
Accounts that haven't passed KYC cannot use C2C. Go to "Identity Verification" to upload your ID and perform face recognition; this is usually passed in 5-10 minutes. The KYC level must be at least "Verified" (formerly Intermediate) to use C2C normally, otherwise, the daily limit is very low.
Step 2: Enter C2C Trading Section
In the APP home, tap "Trade" at the bottom → switch to the "C2C" tab at the top. The web version address is p2p.binance.com. By default, it displays buy and sell orders for USDT/CNY.
Step 3: Filter for Suitable Merchants
Select "Buy," choose USDT for the currency, and CNY for the fiat. Select the payment method you want to use (Alipay/WeChat/bank card). Recommended filter criteria:
- Merchant order completion rate ≥ 95%
- Merchant transaction volume ≥ 500 orders
- Ad price spread not exceeding ±0.5% of market price (to avoid traps)
- Prioritize those with the "Yellow Shield" or "Binance Pro Merchant" icon.
Step 4: Enter Amount and Place Order
Click "Buy USDT" next to the merchant and enter the RMB amount or USDT quantity. Note the merchant's limit per order (e.g., 500-50,000 CNY). After placing the order, you will enter a 15-minute countdown, during which you must complete the transfer.
Step 5: Pay According to Merchant's Specified Method
The system will display the merchant's payment information (Alipay ID/bank card number). Important:
- Do not write words like "USDT," "Binance," or "Crypto" in the transfer remarks—it will trigger bank risk control.
- Transfer using your own real-name account; do not have someone else pay for you.
- The transfer amount must be precise to the cent.
- Keep a screenshot of the transfer.
After paying, make sure to click "Transferred, Notify Seller". Once the merchant confirms receipt, they will release the coins on the Binance back-end, and USDT will arrive in your Funding account.
Step 6: Funding Account → Spot Account Transfer
USDT bought via C2C goes into the Funding account. For spot trading or futures trading, you need to manually Transfer it to the corresponding account. In the APP, go to Wallet → Transfer, select "From Funding to Spot Wallet"; transfers are free and instant.
III. C2C Payment Safety and Card Freezing Risks
The biggest pitfall for C2C in mainland China is not Binance itself, but the risk of bank card freezing. The following avoidance points must be followed.
Avoidance Point 1: Look for Yellow Shield Certified Merchants
The difference between ordinary merchants and certified merchants lies in the security deposit. Certified merchants have deposited funds with Binance, making the cost of running away high and dispute arbitration easier. Beginners are strongly advised to only choose certified merchants.
Avoidance Point 2: Strictly Verify Receipt When Selling
When selling USDT (converting USDT to RMB), you must confirm receipt in your bank APP before clicking "Confirm Release." Some scammers send Photoshopped screenshots pretending to have transferred; once you release the coins, they withdraw the transfer, and the USDT loss cannot be recovered.
Avoidance Point 3: Do Not Accept Large Transfers from Unknown Accounts
Be wary of abnormal funds like "sudden payment from a non-local bank card" or "personal account payment with corporate characteristics." These funds are often telecom fraud fund transfers, and receiving them could lead to your bank card being frozen or even being summoned for questioning by the police.
Avoidance Point 4: Spread Across Accounts, No More Than 5,000 per Transaction
Frequent large RMB inflows and outflows easily trigger bank anti-money laundering risk control. Suggestions:
- Keep a single C2C transaction within 5,000 CNY
- Total monthly volume should not exceed 50,000 CNY
- Prepare 2-3 cards from different banks to use in rotation
- Do not use core accounts like your salary card or mortgage card for C2C
Avoidance Point 5: Handle Card Freezing According to Standard Procedures
In the event of a freeze, contact the police station at the source of the freeze immediately, explain that it's for C2C coin purchase funds, and provide Binance transaction screenshots and bank history. Most freezes are temporary freezes caused by third-party payment fund flow involved in a case, and they are generally unfrozen within 3-15 days after cooperating with the investigation.
IV. Can USDT Bought via C2C Be Used as Fiat Currency?
This is a point where many beginners are most confused.
The Nature of USDT
USDT is a US dollar stablecoin issued by Tether, where 1 USDT ≈ 1 USD, but it is essentially a crypto asset, not real US dollars or RMB. The exchange rate fluctuates in real-time (usually 0.998-1.002), and deviations can be larger during occasional de-pegging.
Inside Binance: USDT is a Unit of Account
Most Binance spot trading pairs are XXX/USDT (e.g., BTC/USDT, ETH/USDT). Inside Binance, USDT is used equivalently to fiat currency. Buying USDT and then buying other coins is equivalent to trading with fiat.
Outside Binance: USDT is Not Fiat Currency
USDT cannot be used directly for shopping in a mall nor can it be transferred directly back to a domestic bank account. To turn USDT back into RMB, you must sell it through C2C to a merchant, who will then transfer money to your bank card.
What USDT Can Do
| Scenario | Possible | Description |
|---|---|---|
| Trade other coins in Binance | Yes | Place orders directly |
| Binance Futures Margin | Yes | Use USDT for USDT-M futures |
| Binance Earn (Flexible/Locked) | Yes | Annual yield 2-8% |
| Withdraw to external USDT wallet | Yes | Choose TRC20/ERC20 networks |
| Convert back to RMB directly | No | Must sell through C2C |
| Offline consumption | No | Not accepted by merchants |
| Transfer to others | Yes | On-chain transfer or Binance internal transfer |
V. C2C Fees and Cost Comparison
Binance itself does not charge fees for C2C, but the actual costs come from three sources:
- Merchant Premium: The USDT/CNY ad price is usually 0.3%-1% higher than the global market. For 500 USDT, the difference could be 15-30 CNY.
- Payment Channel Fees: There are occasionally fees for inter-bank transfers using bank cards, and Alipay/WeChat payments might now also incur charges on the merchant side.
- Time Cost: From placing an order to USDT arrival usually takes 5-15 minutes, and merchant response is slower during peak periods (weekend evenings).
Cost-saving advice: Compare prices of 3-5 merchants before placing an order, balancing between "top ad ranking + reasonable price + fast response"; avoid the half-hour before and after US stock market opening (USDT prices fluctuate heavily).
FAQ - Frequently Asked Questions
Q: Can I still use Alipay or WeChat for deposits on Binance? A: Yes, but it's not a direct official gateway; rather, it's through C2C trading where a merchant is willing to accept Alipay/WeChat payments. Just filter for Alipay or WeChat in "Payment Methods" when choosing a merchant.
Q: What is the maximum amount of USDT I can buy at once via C2C? A: It depends on your KYC level and the merchant's single order limit. Verified (Intermediate) users have a daily limit equivalent to 50,000 USDT, but for a single order, you need to select the "Max Limit" of the merchant's ad. Beginners are recommended to buy 500-2,000 USDT per order and buy in batches.
Q: Will transferring RMB to a merchant's bank card lead to a freeze? A: There is a certain probability. The main reason is that the merchant's account might be mixed with other fund flows involved in a case. Avoidance methods: only select yellow shield merchants, spread across accounts, use small amounts per transaction, and avoid non-local cards. In case of a freeze, cooperating with the police investigation usually leads to unfreezing.
Q: Can I sell USDT immediately after buying it via C2C? A: Yes, USDT bought via Binance C2C can be used as soon as it enters the Funding account; there is no freeze period. However, some merchants will check your account for risk control labels when you sell; if you sell a large amount immediately after buying, you might need to wait 15-30 minutes.
Q: Is there a faster RMB deposit method than C2C? A: Currently, there is no faster or more compliant way. So-called "UnionPay Direct Charge" or "WeChat Fast Charge" gateways from third parties are mostly aggregations of grey merchants and carry higher risks. The only official channel is C2C; don't compromise safety for speed.