Complaint: Faster payment processing time

on 06 February 2021 about Binance in category Crypto / DeFi / Blockchain

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My complaint:

I deposited GBP fiat currency on my Binance account using faster payment method. It’s been over 24 hours and I haven’t received my funds yet. On Binance website they clearly state that faster payments arrive instantly in a few minutes 247365. Also, yesterday one of their representatives said that the money will be in my account by tomorrow (today). It did not arrive so I contacted them again and this time I wanted to see to what extent they can go for their customer. Obviously, I wanted to invest yesterday as fast crypto market moves really fast. You make time sensitive investment decisions. Timings is everything in this market.

You don’t want to use an exchange where they clearly mention payment processing time on their website and don’t fulfill it considering how sensitive this timing issue is for crypto market.

Yesterday, the representative of Binance also said that he would email me the chat history but the email never arrived.

Today, one of the support dept. team leader showed me the payment processing time of another payment method showing it can take 0-3 working days when clearly it was mentioned there that it was related to SEPA payment and not Faster Payment.

So up until now one of their representatives lied that I would receive the money tomorrow and their leader tried to deceive me by showing the processing time screenshot of a different payment method. I instantly showed them the processing time of faster payment from their website. They didn’t have any answer for that and diverted the conversation.

I am losing money as the time is ticking because I could not invest as and when I wanted because of Binance negligence. Who will compensate for that? They lied and deceived their customer as well by stating I will receive the money in one day which I clearly have not received and showing me a different processing time to get away with the situation. Isn’t this a legal case?

I believe as a business what you state on your website and you don’t fulfill that and that has caused damages to someone (i.e. me in this case) then you could take them to the court.

Lastly, the customer representative leader stopped the chat on me. I was taking screenshots of the chat but it all disappeared before I could take all screenshots.

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Justified complaint?

Suggested solution:

Customer service needs to come out of bots and needs to come out of places like for example India where people know nothing about what they are doing. They are never helpful. You are dealing with people's hard earned money! You have to show some good level of responsibility! If you don't have the capacity to deliver something then don't put your hands in it!

In my case I would say your faster payment method is a scam. I haven't received the money in my Binance account yet and your customer service isn't helpful at all! Work on these areas!

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