Last updated: 30 April 2024
You can use the internal transfer function to send funds between Binance accounts. Internal transfers have zero transaction fees and transfers are credited immediately. Let’s see how to make an internal transfer on the Binance website.
1. Log in to your Binance account and hover over the wallet icon. Click [Spot].
2. Click [Withdraw].
3. Choose the coin to withdraw. For example, BTC.
4. Send via Binance ID (BUID), email, or phone number: Under the [Send to] field, select [Binance user], then choose your send method and enter the recipient’s relevant information. Verify the token amount and ensure that the recipient information is entered correctly. Proceed with [Send].
5. Send via network address: Under the [Send to] field, select [Address] and enter the recipient’s network address.
6. Select the network for the withdrawal. Please make sure that the network matches the recipient address’s network to avoid any losses.
7. Enter the transfer amount to view the network fee. Please note the network fee is only charged for withdrawals to non-Binance addresses. Then hover over the [i] icon and click [Change] to toggle between internal transfer or via the Blockchain. For internal transfers, if the recipient’s address belongs to a Binance account, you will not have to pay a network fee and the recipient will receive the amount displayed next to [Receive Amount].
If you choose [Withdraw On Chain], your funds will be transferred to the recipient’s address via a blockchain network and you will have to pay a network fee.
Important Note:
- Fee exemption and instant fund arrivals are only applicable when the recipient’s address belongs to a Binance account. Please ensure that the address belongs to a Binance account before confirming the withdrawal as an internal transfer.
- If the system detects that you are withdrawing a coin that requires a tag/memo, you must enter the correct tag/memo for the transaction to be successfully credited.
8. Double-check your withdrawal token, amount, and address. Then, verify your withdrawal request and click [Submit].
9. Once the withdrawal is completed, check your status by clicking [Spot] - [Withdraw] - [Recent Withdrawals].
Please note that for an internal transfer within Binance, no TxID will be created. The TxID field will be shown as [Internal] and you will see an internal transfer ID. In case you encounter any issues for this transaction, please provide the ID to Binance Support for more assistance.
10. The recipient will instantly receive your funds in their Binance account. They can view the transfer record in [Transaction History] - [Deposit]. The transaction has the same internal transfer ID and will be marked as [Internal] under [TxID].
