Deposit and withdraw on Binomo via Vietnam Bank card, Internet banking, and E-wallets

In this review, we will tell you how to deposit in Binomo through a Vietnam bank card, Internet banking, and e-wallets, as well as how to withdraw money from the platform and what problems you may encounter in this case.

Deposit and withdrawal methods

You have different options for depositing funds into your Binomo account. You can use bank cards, e-wallets, and internet banking. In addition, the conversion will be carried out at the internal rate of your bank if you transfer funds from a bank account in a currency other than the one set on your account.

Internet banking is available through the Vietnamese payment system:

• BIDV;
• Asia Commercial Joint Stock Bank (ACB);
• Techcombank;
• Vietinbank;
• DongA Bank;
• Vietcombank.

Below are some of the e-wallets available for Vietnamese people:

• Viettel Pei;
• MoMo;
• Webmoney WMZ.

You can withdraw funds to your e-wallet or bank account. However, withdrawals are only possible using the same payment method you used for the deposit.

Minimum deposit and withdrawal amount from Binomo

The minimum deposit in Binomo is $10. It is the same minimum withdrawal amount from Binomo. There is no commission for depositing and withdrawing funds from Binomo.

If you find any problems with depositing or withdrawing funds from Binomo, you can contact support via email at support@binomo.com 24/7.

Withdrawal time

All withdrawal requests are processed as soon as they are received. Fund withdrawals undergo three stages once you make a request:

1. Approval. Your withdrawal request will be approved and passed on to the payment provider.
2. Processing. The payment provider will process the withdrawal.
3. Transfer. Funds will be credited to your account.

In the approval stage, your request may be assigned a “Pending” or “Approving” status.

The processing time for a withdrawal request may depend on the status of your Binomo account:

• If you are a Standard account holder, you will have to wait up to 3 days.
• If you are a Gold account holder, you will have to wait up to 24 hours.
• If you are a VIP account holder, you will have to wait up to 4 hours.

As soon as the request receives the status “Approved”, it goes into the processing stage. The request is sent to the payment service provider. “Processing status” may take some time, depending on the payment service provider. In the “Transaction history”, you will see your request’s average and maximum transaction processing time.

In rare cases, funds may appear in your bank account within 7 days. The delay can be caused by payment system policies or national holidays, as well as many other situations that affect the ability of the payment system to transfer funds.

Fees

Binomo allows free deposits, i.e., no fees. Funds are usually reflected in your account within an hour. Sometimes it can take several hours or even days. On this occasion, you need to check why the delay occurred with Binomo support or your payment provider.

According to the Binomo withdrawal conditions, no commission is charged for withdrawing funds. But sometimes, payment processors may charge a fee if your Binomo account currency differs from your chosen payment method during the withdrawal process or by their policy.

Deposit and withdrawal through Internet Banking

Now you will learn how to deposit in Binomo and withdraw money through Internet banking.

Deposit via Internet Banking

Open the Binomo website or mobile app and sign in with your account. After that, follow the instructions:

1. Click the “Deposit” button or go to the “Cashier” section from the menu.
   
2. Choose Viet Nam as the country name.
   
3. Specify the amount.
4. Pick the bank among BIDV, Asia Commercial Joint Stock Bank (ACB), Techcombank, Vietinbank, DongA Bank, and Vietcombank, and click “Deposit”.
   
5. Fill in the name and password to log into your account.
   
6. Wait while the system connects to your bank account, then click “Transfer money”.
   
7. You will see the transaction ID, which will help to get the OTP on your phone:
   1. Click on the “Get the OTP Code” button.
   2. Enter the transaction ID and click the “Confirm” button.
   3. Receive the OTP code.
8. Еnter your OTP, tap “Continue” to complete the payment.
   
9. You will be redirected to the following page with the payment amount, date, and transaction ID indicated if the payment was successful.

Your deposited funds will be available within 24 hours after completing the transfer.

Withdrawal via Internet Banking

If you are from Vietnam and want to withdraw funds from Binomo via Internet banking, follow these steps:

1. For withdrawal, click the “Deposit” button or go to the “Cashier” section from the menu.
2. Choose “Withdraw funds”.
3. Enter desired details: payout amount and your withdrawal method.
4. Click “Request withdrawal”.

You can view the estimated withdrawal date on the “Transaction history”.

Deposit and withdrawal through e-wallets

Binomo enables its Vietnamese traders to deposit and withdraw funds using e-wallets.

Deposit via MoMo

1. Click on the “Deposit” button and choose Viet Nam as the country name.
   
2. Select MoMo from the list of e-wallets.
   
3. Select the amount to deposit and the bonus (if available and you want to use it), and click “Deposit”.
   
4. You will be redirected to the page, where you need to enter your MoMo account name (in capital letters and without accents), then click on the “Next” button.
5. You will see the page with the name, amount, and phone number which should be used for making the transfer.
   
6. Enter in the MoMo app. Pick “Transfer money” from the menu, then enter the recipient’s details.
   
7. Enter the exact amount that is indicated on the payment page.
   
8. Check the entered information and click “Transfer”.

MoMo will successfully create your deposit, and the process may take up to 12-24 hours.

Withdrawal via MoMo

To withdraw funds from your Binomo account to your MoMo account, follow these steps:

• For web version users:
  • Open the “Cashier” section by clicking on your profile icon.
  • Tap on the “Withdraw funds” tab.
  • Enter desired details: payout amount and MoMo withdrawal method.
  • Click “Request withdrawal”.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section and the “Withdraw” button.
  • Enter the payout amount and choose MoMo as your withdrawal method.
  • Click “Request withdrawal”.

Note that it may take 12 to 24 hours for your withdrawal request to be processed. Withdrawal confirmation is displayed in your account.

Deposit via Viettel Pay

1. Log into your Binomo account and click “Deposit”.
   
2. Select “Viet Nam” in the “Country” section and select the “Viettel Pay” method.
   
3. Сhoose the amount to deposit and bonus, and click on the “Deposit” button.
   
4. You will see a window with additional billing information.
   
5. Open the Viettel Pay app and copy the unique payment details from the cashier page.
   
6. Fill in the password and OTP code and select “Xác nhận” to complete the transaction.
   

In the “Transaction history” area, you can see the current status of your transaction.

Withdraw via Viettel Pay

To withdraw funds from your Binomo account to your Viettel Pay account, follow these steps:

To make a cash withdrawal using Advcash, follow these steps:

• For web version users:
  • Open the “Cashier” section.
  • Tap on the “Withdraw funds” tab.
  • In the “Payout amount” field, enter the amount you want to withdraw.
  • In the withdrawal method, choose Viettel Pay.
  • Click the “Request withdrawal” button.
• For the mobile app users:
  • Launch the left side menu.
  • Click on the “Balance” section.
  • Click the “Withdraw” button.
  • Tap on the “Withdraw funds” tab.
  • In the “Payout amount” field, enter the amount you want to withdraw.
  • In the withdrawal method, choose Viettel Pay.
  • Click “Request withdrawal”.

Wait for the payment proof from Binomo. Usually, withdrawal time takes from 1 hour to several days (depending on your payment provider).

Frequently Asked Questions (FAQ)

If you still have questions about depositing or withdrawing funds in Vietnam, please visit the official Binomo website or read some of the most frequently asked questions below.

Is it safe to send your funds?

It is safe to send funds through the “Cashier” section or the “Deposit” button on www.binomo.com. The company works only with proven and reliable payment service providers, both national and international.

Furthermore, payment service providers comply with all local and international personal data protection and security standards. They include 3-D Secure and the PCI standard (used by VISA and some others). Therefore, your data is always safe to deposit money in Binomo.

How do I fund my account with an e-wallet in a different currency?

You do not have to worry if your card or wallet is in a different currency. Proceed with the usual payment method, i.e., through the “Cashier” section on the website www.binomo.com or “Balance” in the Binomo app. Your funds will be converted to the currency of the Binomo account automatically.

Also, note that Binomo does not charge any currency conversion fees. However, some fees may apply from the payment service provider. Therefore, it is recommended to find out about this from your service provider before paying.

Moreover, before your payment is processed, Binomo will show you the converted amount in the target currency. It ensures better decision-making on the user’s end.

When will the funds be credited to my account?

It may largely depend upon your payment service provider. Some transfers are credited instantly, while others may take up to 3 days.

Remember that national laws, payment service providers’ policies, or local holidays may delay transaction processing. In 99% of the cases, any delay is at the end of the payment service provider and not Binomo.

Don’t worry if your funds are not credited to your account even after a few hours. Wait for at least one business day. If the issue persists, contact support@binomo.com to find out the exact reason for the delay.

What is the minimum and maximum withdrawal limit?

You can withdraw a minimum amount of $10 or equivalent in your currency. Maximum withdrawal amounts may vary depending on whether withdrawals are made per day, week, or month:

• There is a $3,000 withdrawal limit per day.
• There is a $10,000 withdrawal limit per week.
• There is a $40,000 withdrawal limit per month.

Sometimes payment systems set a withdrawal limit so that the amounts may vary.

Can I withdraw in my country’s currency?

Yes, you can withdraw funds in your country’s currency (when registering, you will be prompted to set it). You can choose dollar, euro, or Vietnamese dong (VND). It will be used for trading, deposits, and withdrawals.

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

It can happen due to the following reasons:

1. You entered incorrect payment details.
2. The payment service provider is encountering technical difficulties.

Payment providers usually do not indicate the reasons for the problem. But sometimes, you can find an error description when you open the “Transaction history” section.

If an error occurred while submitting a withdrawal request, you could submit another one. If the error still appears on the second try, contact support@binomo.com. The support team will help identify and resolve the issue.

Conclusion

Binomo offers a convenient way to earn extra income through trading. And for this, Vietnamese users can simply deposit and withdraw funds using different payment methods.

However, remember that any trading involves the risk of losing funds, so it is essential to know how the platform works, what strategies to use, and other trading secrets. To do this, Binomo offers a free demo account with $10,000 in virtual currency.