Depositing money on Binomo is an easy procedure. Here’s a complete guide for you to become an actual trader right away. This article explains the entire deposit process and a few other pointers that might be helpful to understand some of Binomo’s payment terms.
Binomo Deposit Process
To get started, go to the Binomo website and log in with your correct credentials. You will be able to find a drop-down menu on the right corner of the screen which has trading options using a Real Account and a Demo Account. Select Real Account and click on the yellow Deposit button right next to it.
Binomo Deposit Limits
Generally, the minimum amount of deposit for a Binomo trading account is ₹350.
But for certain payment methods, the minimum deposit is ₹750 (like via Unionpay).
Binomo Deposit and Withdrawal Commission
Binomo doesn’t charge anything for depositing or withdrawing funds in your trading account. This excludes any transfer or conversion charges levied by payment service providers. Which generally happens when the currency is different. Although, if you decide to withdraw before trading, you might be charged a 10% commission as a protocol to the company’s anti-fraud policy.
In fact, they might give you a bonus for topping up. Depending on the amount you’re transferring, it gives a deposit bonus starting from 20% up to 70%.
Binomo Payment Methods
The next page will have four main headings:
- Deposit Funds
- Withdraw Funds
- Transaction History
Under the Deposit Funds heading, there will be many payment methods to choose from. You can select your country name from the drop-down menu and move on in the deposit process.
The different modes of payment are categorized as follows:
- Bank cards
MasterCards/ Maestro cards and Unionpay are accepted here.
This allows payment through modern-day wallets like PhonePe, PayTM, Mobikwik, Freecharge, Ola Money, Jio Money, Google Pay, Amazon Pay, AstroPay, Perfect Money, Jeton Wallet, SticPay, and Cryptowallets.
- Internet Banking
UPI, NetBanking, and IndianCash can also be used to transfer money from your bank account to the Binomo trading account.
Binomo CVC/CVV Code
A Card Verification Code/ Value is a 3-digit number at the right end of the white signature strip at the back of any MasterCard or VISA card. It is used as a security feature for transactions when the card is not present.
What is 3DS On Binomo?
3DS stands for 3 domains (merchant domain, issuer domain, and interoperability domain) secure. With this system, the payment becomes a two-step process and no transaction can go through without your authorization. This helps in avoiding e-commerce fraud. It is a security protocol used by such trading platforms to authenticate users and adds an extra layer of protection for online card transactions.
Binomo Bank Card Deposit
If you have a MasterCard or a Maestro Card, go ahead and click on the same to proceed. You can choose the amount you want to top-up from the gold or the standard category or enter any amount on your own. The minimum deposit amount is ₹750. Click on the yellow Deposit button. On the next screen, check the amount you’re depositing, currency, and other particulars mentioned.
Fill in your card details required for the transaction as below:
- Cardholder name
- Card number
- CSC/ CVV
- Expiry month and year
If you’re paying via Unionpay, click the same to get started. You will see many amounts to select from the VIP, gold, or the standard category. You may custom-enter the amount as well, keeping in mind the minimum deposit value being ₹750.
Mention the additional information to finish the transaction as follows:
- First name
- Last name
- Email address
- Phone number
- Postal code
Press the yellow Deposit button.
Binomo eWallet Deposit
You can also top-up your account via any of these eWallets with a simple process:
- Click on the preferred payment option
- Select the amount you want to top-up from the given options of VIP, gold, or standard categories
- Or you can enter your value
- Check the Deposit bonus box if offered by the company
- Click on the yellow Deposit button
- On the redirected payment portal, enter your particulars to operate the eWallet
- Pay as you normally would
Binomo Transaction Declined
There can be many reasons for a transaction decline situation, like:
- Incorrect card or account number
- Invalid expiry date or month
- Insufficient funds in the account
- The account or card not being active
- Transaction limit exceeded
- Card lost or stolen
In such a case, you can just restart the deposit procedure from the main page of Binomo. Trying with another payment method as already used might be helpful here.
Binomo refund rules are straightforward. Payments done at the request of the client are not refundable. Money deducted as a result of an error on the company’s part will be refunded after proper investigation.
Chargeback is generally when the cardholder raises a payment dispute on a particular transaction and the issuing bank ends up reversing the charge debited. This system is established to protect the consumer from unauthorized use of the account. But it is a complex and time-consuming procedure for both the bank and the consumer.
Can I Earn Money With Binomo?
Without a doubt, yes! Binomo is an innovative trading platform that facilitates online earning. Balanced use of good trading strategies and money management leads to building a profitable trading profile and increased capital.