How to deposit and withdraw funds from Binomo in India

Have you got questions about depositing and withdrawing funds on Binomo in India? In this article, we’ll look at these issues in detail.

Withdrawal from Binomo to a bank card

One of the ways to withdraw funds from Binomo is through a bank card. How to use it and avoid common issues, we’ll consider further.

How do I withdraw funds to a bank card?

Withdrawals from Binomo can be made to bank cards issued in Turkey, Ukraine, or Kazakhstan. Indian traders don’t have this option.

To withdraw funds to a bank card, you’ll need to follow these steps:

1. Go to the “Cashier” section on the Binomo website or the “Balance” section on the app.

2. Click the “Withdraw funds” tab, enter the payout amount, and fill in the required information.

3. Click “Request Withdrawal” and wait for the funds to be credited to the bank card. 

At this time, you can return to trading. You can also always view the status of your withdrawal in the “Transaction History” tab on the Binomo website or the “Balance” section on the app.

Typically, your payment provider will credit funds to your bank card within minutes to 3 business days. Sometimes it may take up to 7 days due to weekends, holidays, payment system policies, etc.

Note! Please remember that you can only withdraw funds to bank cards you’ve already deposited with.

How do I withdraw funds to a non-personalized bank card?

You can use a non-personalized bank card to withdraw funds from Binomo, even though it does not indicate the cardholder’s name. You must enter the cardholder’s name for withdrawal, as indicated in the bank agreement.

You also need to follow these steps:

1. Go to the “Cashier section” on the Binomo website or the “Balance” section on the app.
2. Enter the payout amount, choose “VISA/MasterCard/Maestro”, and fill in the required information. 
3. Click “Request Withdrawal” and wait for confirmation of it.

You can track the withdrawal status in the “Transaction History” tab (for the web version) or the “Balance” section (for the app version).

Note! Withdrawal from Binomo to non-personalized bank cards is possible only for cards issued in Turkey or Ukraine.

How do I withdraw funds to my bank account?

Cardholders issued in India, Indonesia, Turkey, Vietnam, South Africa, Mexico, and Pakistan can request a withdrawal from Binomo to a bank account. 

Tip: use the bank account linked to your card to receive the withdrawn amount quickly.

To withdraw funds to your bank account, you’ll need to follow these steps:

1. Go to “Cashier” for the web version or “Balance” for the app.
2. Enter the payout amount, choose “Bank transfer” as your withdrawal method, and fill in the required information. 
3. Click “Request Withdrawal” and wait for confirmation of it.

Payment providers usually take 1 to 3 business days to credit funds to your bank account.

If this withdrawal method is unavailable in your country, you can use electronic and cryptocurrency wallets: AdvCash, Perfect Money, Skrill, Neteller, BTC, and LTC.

Frequently Asked Questions (FAQ)

Consider the most common questions from Binomo traders about withdrawing funds to avoid various issues. We will also learn about Binomo minimum and maximum withdrawal amounts in India and other countries where the platform is present.

Why can’t I receive funds right after I request a withdrawal?

When you withdraw funds, it must first be approved by the Binomo support team for security reasons. This process depends on the status of your account. Priority is given to VIP users.

Consider the maximum withdrawal time from Binomo:

• For standard status traders – up to 3 days.
• For gold status traders – up to 24 hours.
• For VIP status traders – up to 4 hours.

Before withdrawing, ensure you do not have an active bonus with a trading turnover. This will help the Binomo support team to approve your request faster. Once approved, they will pass it on to your payment service provider.

Also, the withdrawal time from Binomo in India or any other country depends on whether you have passed the account verification. If not, it will take longer.

What payment methods can I use to withdraw funds?

You can withdraw funds to your bank card, e-wallet, bank account, or crypto-wallet.

Withdrawal to a bank card is available only for cards issued in Turkey or Ukraine.

Bank account withdrawals are available if your bank is in India, Indonesia, Turkey, Vietnam, South Africa, Mexico, and Pakistan.

Withdrawals to e-wallets are available for all traders.

Why can’t I withdraw funds to my bank card or account?

You can withdraw funds to a bank card if it is issued in Turkey or Ukraine.

If your card is issued in India, Indonesia, Turkey, Vietnam, South Africa, and Mexico, you can withdraw funds from Binomo to a bank account.

For residents of other countries, these withdrawal methods are unavailable due to the high fees charged by local banks. Instead, you can use electronic and crypto wallets such as AdvCash, Perfect Money, Skrill, Neteller, BTC, and LTC.

What is the minimum and maximum withdrawal limit?

The minimum withdrawal from Binomo in India or another country where the platform is present is $10/€10. 

The maximum withdrawal amount from Binomo is:

• $3,000 or equivalent per day.
• $10,000 or equivalent per week.
• $40,000 or equivalent per month.

Sometimes these limits may differ depending on specific payment systems. We advise you to check the withdrawal limit from Binomo with your payment provider, for example, NEFT Bank Transfer in India.

How much time does it take for funds to be withdrawn?

Your withdrawal request goes through three stages:

1. Approval of the request by the Binomo support team and its transfer to your payment provider.
2. Processing the request by your payment provider.
3. Your receipt of funds.

The maximum withdrawal time from Binomo in India or any other country where the platform is present is 7 days. If you are waiting longer than this period, we advise you to write to [email protected].

You can check your request status in the “Transaction History” tab in the “Cashier” section (for the web version) or “Balance” (for the app).

Can I withdraw in my country’s currency?

Yes, it is possible if, during registration on Binomo, you have chosen the currency of your account in local currency. In this currency, you can trade, deposit, and withdraw funds.

Your funds will be converted automatically if your payment method uses a currency other than your Binomo account currency.

For example, the minimum withdrawal amount from Binomo in rupees in India will be equivalent to $10. The conversion exchange rate depends on the current rate of the market.

Are there any withdrawal fees and commissions?

Binomo does not charge commissions or fees for withdrawals. However, there are a few exceptions.

There is a limit on the number of withdrawals from Binomo without commission for traders in India. No fee is charged if you withdraw funds every 24 hours. Otherwise, you will have to pay 10%.

Sometimes payment providers may also charge a conversion fee. Binomo pays this fee, and it will be automatically returned to your account.

Also, a commission of 10% may be charged if you have made a deposit and decide to withdraw it before the start of trading.

What is the conversion exchange rate?

If the currency of the payment method differs from that of your Binomo account currency, your funds will be automatically converted. The payment service provider may also do this during processing. The exchange rate is based on the current rate of the market.

Why do I see a “Failed” status when withdrawing?

A problem with your payment provider can cause a “Failed” status. You might find an error description in the “Cashier” section on the “Transaction History” tab (“Balance” section for mobile app users).

Otherwise, recheck your payment details and try sending a withdrawal request again. Alternatively, contact Binomo via live chat or write to [email protected]. 

Can I withdraw funds from my account before I start trading?

Yes, you can. However, in this case, Binomo will charge a withdrawal fee. This fee is part of the company’s anti-fraud policy.

To prevent this from happening, you must make a trading turnover: double the amount you deposited by making trades. You can learn more about this rule in par. 5.13 of the Client Agreement.

How to deposit on Binomo?

We have covered the withdrawal process with Binomo, including the minimum and maximum amounts in India and other countries. It’s time to find out everything about the Binomo deposit.

How to deposit via bank card?

You can use your bank card to deposit to your Binomo account. The card may be personal or non-personalized and in a currency other than the one in which your account is used.

These steps will help you deposit funds into your account:

1. Click “Deposit” in the upper right corner of the platform.
2. Select your country from the “Country” dropdown menu.
3. Specify the amount to deposit and fill in the card details.
4. Click “OK” and enter the verification code that will come to you in an SMS or push notification.

You will be redirected to the transaction details page if the payment is successful.

As a rule, funds are credited to your Binomo account instantly or within an hour. Sometimes it may take longer, depending on your payment provider.

How to deposit via e-wallet?

Consider step by step how to deposit in Binomo using an e-wallet:

1. Click “Deposit” in the top right corner of the platform.
2. Choose your country in the “Сountry” section and select your e-wallet.
3. Specify the amount to deposit and click “Deposit”.
4. Follow the instructions that come up; it is different with each e-wallet.

For specific instructions, locate your e-wallet via the “Deposit funds” link.

Note! The minimum deposit in Binomo in India and other countries where the platform is present is usually $10, but exceptions exist.

How to deposit via Bank transfer?

Consider another way to deposit funds on Binomo using a bank transfer:

1. Click  “Deposit” in the top right corner of the platform.
2. Choose your country in the “Сountry” section and select your bank.
3. Specify the amount to deposit and click on “Deposit”.
4. Follow the instructions that come up; it is different with each bank.

Find your bank on the “Deposit funds” link for detailed instructions.

Frequently Asked Questions (FAQs)

Let’s find out what is the minimum and maximum deposit in Binomo and how to deposit it without any issues.

Is that safe to send you funds?

The deposit on the platform is safe. Binomo only works with trusted payment service providers that comply with security and privacy standards, such as the PCI standard used by Visa or 3-D Secure.

Sometimes, you’ll be redirected to our partners’ websites when depositing. For example, you will see the CoinPayments user interface when you fund your account with cryptocurrencies. Do not worry about the security of your data in this case; they are well protected.

How to deposit with a non-personalized card?

You can use a non-personalized bank card to deposit funds to your Binomo account. But the card must be yours, and you must prove ownership by sending one of these documents to [email protected] or via live chat:

• Statement from the banking service with an official signature and seal;
• Reference from the bank with an official signature and stamp;
• Screenshot of your account from a bank app or online service.

Ensure the cardholder’s name and card number are visible on the documents. Also, send documents from the email address you provided during registration.

Can’t deposit with a bank card; what do I do?

Try the following if you are unable to deposit for any reason:

• Recheck your country of residence in the “Personal details” section and your payment order.
• Ensure you’ve selected the correct card brand (e.g., Visa, Mastercard) and entered the correct card details.
• Clear your cache and cookies, or use another browser or device.
• Try another payment method or get in touch with our support team.

Do not forget that the minimum deposit in Binomo in India and many other countries where the platform is present is $10.

My deposit didn’t go through; what do I do?

All failed payments fall under the following categories:

• Funds have been debited but not added to your Binomo account.

• Funds have not been debited from your card or wallet.

In the first case, provide the Binomo support team with payment confirmation to track the deposit. It can be a bank statement or a screenshot from a banking app or online service. The documents must clearly show your name and surname, card or wallet number, the amount of the payment, and the date it was made.

In the second case, check the status of your deposit in the “Transaction History” tab.

How long does it take to deposit funds into my account?

While your payment provider is processing your transaction, it will be given a Pending status. The time of crediting funds to the account also depends on the provider.

Find out the average and maximum processing time for your deposit by:

1. Click your profile picture in the right corner at the top of your screen and choose the “Cashier” tab in the menu. Then click the “Transaction history” tab.
2. Mobile app users open the left-side menu and choose the “Balance” section.
3. Click on your transaction to find out the processing period for your transaction.

As a rule, payment systems process all deposits within a few hours. The maximum transaction processing time is usually related to the payment system policy, holidays, etc.

How do I fund my account with a card (wallet) in a different currency?

Nothing needs to be done. Funds will be automatically converted to the currency of your Binomo account when you deposit funds. There is no commission for currency conversion, and the funds’ exchange occurs at your bank’s current rate.

Do you charge for depositing?

Binomo does not charge any fees for deposits. On the contrary, it gives a bonus for replenishing the account. It’s up to you to decide whether to use it or not.

However, some payment service providers may charge a fee. Usually, it is indicated on the provider’s website or displayed when ordering a transaction.

Can I deposit with a card that isn’t mine?

The Client Agreement prohibits using payment methods not belonging to you to deposit in Binomo. The card or wallet must belong to you.

When will the funds be credited to my account?

The actual transaction processing time depends on the payment system. Usually, the conditions are on the provider’s website or are displayed when ordering a transaction. As a rule, funds are credited to the account instantly or during the day. If you wait longer, please contact to [email protected].

Conclusion

We hope this article has given you a better insight into how you can manage your deposits and withdrawals. You can see that Binomo takes the security of its clients’ funds seriously. Start trading with your first deposit today, but remember to practice on a demo account. It will help you hone your trading skills and reduce the risk of losing funds.