Binance has begun disabling P2P merchants for using cards of sanctioned banks

Other payment methods remain available regardless of the nationality of the users

21.03.2022 - 07:20

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1 min

What’s new? Binance has begun blocking users of its P2P platform who have used sanctioned bank cards. Such users’ ads are being removed, offering them to choose other payment methods. This was reported to GetBlock Magazine by P2P merchants who were affected by the blocking.

Which banks have been hit by the sanctions? The following financial institutions and payment methods have been blocked in P2P: SberBank, VTB Bank, Otkritie Bank, Alfa-Bank, Gazprombank, Tinkoff Bank, FPS (the faster payments system), transfers from Russian bank cards, and the Mir payment system.

“All ads containing these payment methods were automatically closed by the system. Please choose another available payment method. Thank you for your understanding and we apologize for the inconvenience caused,” Binance’s mailing list says.

The cards from Raiffeisen Bank, MTS Bank, Bank Uralsib, and other non-sanctioned banks can still be used to operate with P2P on Binance.

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