Note: The Binance Card is no longer available. Binance accounts are unaffected and continue to operate as usual.
1. How does the Binance Colombia Card work?
The Binance Colombia Card supports real-time cryptocurrency to fiat currency conversion, enabling you to spend your crypto with 90 million online and offline merchants worldwide. Funds can be debited from your Spot/Funding Wallet.
2. What is the difference between Funding Wallet and Spot Wallet?
Your Funding Wallet is your default source of funds for Binance Card transactions. To allow greater access to your funds and offer a seamless user experience, your Spot Wallet has been automatically enabled as an additional source of funding for making payments. Find out more about using your Spot Wallet as a backup source of funding here.
3. In which order does the Binance Colombia Card use my cryptocurrencies in the Spot/Funding Wallet?
The Binance Colombia Card makes purchases using an aggregated value of your selected cryptocurrencies in your Spot/Funding Wallet based on the payment priority you set in the Card Dashboard.
Currently, the Binance Colombia Card supports 12 cryptocurrencies, including BUSD, USDT, BTC, BNB, ETH, ADA, DOT, SOL, SHIB, XRP, MATIC, and LINK.
You can add, remove, or rearrange the order of the spending cryptocurrencies from [Card Dashboard] - [Payment Priority] - [Edit]. The system will follow the payment priority when you purchase with your Binance Colombia Card. Please note that you must have at least 6 cryptocurrencies in your Payment Priority list (a maximum of 12 can be selected).
For example, your Payment Priority List is as follows: BUSD, BNB, ETC, USDT, BTC, ADA.
If the BUSD balance in your Funding Wallet is sufficient, the purchase will be made solely by converting BUSD. If the balance is insufficient, the system will automatically check whether the balance of your BUSD and BNB, ETH, USDT, etc., can cover the purchase following the payment priority you set. The same priority will be used against your Spot Wallet if your Funding Wallet balance is insufficient.
4. Will my payment be declined if the balance of my prioritized cryptocurrency is insufficient?
The transaction should go through if the balance in your Spot/Funding Wallet equals or exceeds the amount the merchant is attempting to charge. Binance will automatically use all available cryptocurrencies in the order you selected or based on the balance left in the Wallets to complete the transaction.
5. Where can I use my Binance Colombia Card?
You can use your Binance Colombia Card anywhere in the world at any Mastercard merchant.
6. How do I use the Binance Colombia Card to make online transactions?
You can use the Binance Colombia Card to make online transactions by entering your Card details on the payment page when you checkout.
7. When will the funds be returned to my Funding Wallet if a transaction is declined?
If a transaction is declined after the funds were deducted from your Funding Wallet, e.g., due to network issues that are out of Binance’s control, your funds will be returned to your Funding Wallet (in BUSD) within 2 hours.
8. Can I pay for products and services in foreign currency?
Your card is denominated in COP. If you make a purchase or an ATM withdrawal in any other currency, we will convert the amount of the transaction into COP using the exchange rate set by Mastercard on the day they process the transaction. Please note that this conversion rate may differ from the conversion rate on the actual date of the transaction.
9. Can I transfer funds to the Binance Colombia Card from third-party platforms?
You cannot top up your Binance Colombia Card from other external platforms. Funds sent directly from third-party platforms will not be credited to your Binance Colombia Card balance. It might result in the loss of these funds.