Cancellation service N°1 in Australia
Contract number:
To the attention of:
Cancellation Department – Binance
65 Connaught St
4017 Sandgate
Subject: Contract Cancellation – Certified Email Notification
Dear Sir or Madam,
I hereby notify you of my decision to terminate contract number relating to the Binance service. This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual notice period.
I kindly request that you take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper receipt of this request;
– and, where applicable, send me the final statement or balance confirmation.
This cancellation is sent to you by certified email. The sending, timestamping and integrity of the content are established, making it equivalent proof meeting the requirements of electronic evidence. You therefore have all the necessary elements to process this cancellation properly, in accordance with the applicable principles regarding written notification and contractual freedom.
In accordance with the Consumer Rights Act 2015 and data protection regulations, I also request that you:
– delete all my personal data not necessary for your legal or accounting obligations;
– close any associated personal account;
– and confirm to me the effective deletion of data in accordance with applicable rights regarding privacy protection.
I retain a complete copy of this notification as well as proof of sending.
Yours sincerely,
11/01/2026
How to Cancel Binance: Complete Guide
What is Binance
Binance is a global cryptocurrency exchange and ecosystem that provides spot and derivatives trading, custody-like services such as Binance Earn (including locked staking products), payment and fiat on/off ramps, and a range of ancillary features such as native token-based fee discounts and VIP fee tiers. The platform operates multiple product lines (spot, futures, margin, Earn/staking) with fee schedules tied to trading volume and holdings of the platform token; separate billing and product rules can apply depending on how a service or subscription was acquired.
Binance’s product ecosystem includes fee tiers and staking products that attract active traders and yield-seeking users, but the legal and operational treatment of cancellations, withdrawals and locked products varies by product type and by the channel used to purchase the product.
For consumers in this market, regulatory action and remediation overseen by regulators have affected how certain Binance products are treated and the protections available to affected clients.
Why people cancel
Users cancel access for several reasons: unwanted recurring charges, a desire to withdraw funds, dissatisfaction with service or security, or regulatory events that affect product availability or protections.
For Binance specifically, common drivers include trouble withdrawing funds, concerns about account restrictions or KYC holds, and decisions prompted by regulatory enforcement or licence cancellation affecting derivative products.
How cancellations typically work for Binance products
Framework: cancellations and reversals depend on the underlying product class - trading orders, fiat withdrawals, on-chain crypto transfers, subscription-like services, and locked staking each have distinct contractual rules.
Billing cycle and proration: Binance’s fee structure is largely usage-based (trading fees) or product-based (staking lock period, Earn product term). For recurring charges that arise from a third-party billing arrangement (for example, app store purchases), the merchant of record or the platform that billed you controls proration and refunds.
Cooling-off and consumer law: for financial or investment products, ordinary consumer cooling-off rules may not apply where a product is a financial service or where the product is digital and consumed immediately; the protections vary depending on whether the offering was governed by an Australian financial services licence. The Corporations Act and ASIC guidance apply to services that were offered under an AFS licence and to related remediation.
Order and trade cancellations
Open orders that have not been matched are contractually cancellable prior to execution; once a trade is executed it is final and cannot be unwound through a unilateral cancellation request.
Market orders and immediate-or-cancel instructions may execute instantly and cannot be cancelled after execution; the practical remedy for a filled order is to place an offsetting trade and accept execution risk and fees.
Withdrawals and reversibility
Crypto withdrawals that have been broadcast to a blockchain are, by design of distributed ledgers, irreversible; the usual legal implication is that on-chain transfers cannot be undone by the exchange once confirmed on-chain.
Fiat withdrawals are subject to banking systems and payment rails and may have processing windows; cancellation or reversal is therefore contingent on the processing stage and the payment channel’s rules. Operational outcomes vary and may also be affected by compliance or fraud-hold processes.
Locked staking and subscriptions
Locked staking products by design impose a lock period during which principal is not transferable; early exit provisions, where available, typically forfeit accumulated rewards or impose a penalty. Binance’s locked staking products distribute rewards according to the product terms, and early redemption generally affects interest entitlement.
Customer experiences with cancellation
What users report
Reported issues from local consumer feedback platforms include delayed withdrawals, account restrictions tied to security or KYC checks, long response times for support, and difficulty obtaining clear reasons for freezes or terminations. ProductReview and Trustpilot threads commonly document delays and communication frustrations from users attempting to access funds or challenge account actions.
Regulatory interaction has been material: ASIC cancelled the licence of the local derivatives operator and supervised remediation payments of around A$13.1 million to misclassified retail clients, which demonstrates that some product lines had compliance failures affecting consumer protections.
Recurring issues and practical takeaways
Recurring themes in user reports include: timing uncertainty for withdrawals, non-transparent reasons for account holds, and outcomes that depend heavily on product class and the formal terms and conditions that governed the original transaction.
Practical takeaway: the likely success of a cancellation, refund or reversal claim depends on the contract terms you agreed to, the timing of your request relative to transaction finality, applicable payment rails, and any regulatory remediation programs that may apply to a specific product line.
Legal framework and consumer rights relevant to Binance
In accordance with the Corporations Act and ASIC guidance, services provided under an Australian financial services licence attract specific disclosure obligations, dispute resolution responsibilities and design/distribution obligations; where those obligations were breached, remediation and compensation may be available.
Australian Consumer Law remedies (including unfair contract term scrutiny) may be relevant where terms are standard-form and have the effect of imposing disproportionate cancellation or refund barriers. Consequences depend on whether the product is characterised as a financial service or a consumer good/service.
Documentation checklist
- Transaction evidence: timestamps, transaction IDs, blockchain TX hash or bank reference.
- Purchase receipt: copy of the payment receipt showing the billed amount and billing entity.
- Terms snapshot: cached or printed copy of the product terms and the date you accepted them.
- KYC / identity records: evidence of verification steps completed and any notices received.
- Communication log: dates and short notes of any communications (case IDs where issued).
- Bank/card statements: entries that show debits or credits, formatted and dated.
- Regulatory documents: ASIC media releases or remediation notices relevant to Binance products.
Tables: pricing and comparison
| Service / product | Typical cost or fee (A$) | Notes |
|---|---|---|
| Spot trading fees (maker / taker) | A$Varies (tiered) | Standard starting fee ~0.10% per trade; reduced via native-token discount or VIP tiers; actual A$ equivalent depends on trade size and market price. |
| Locked staking (Earn) | A$Varies | Return expressed as APY; principal is locked for a fixed term and early exit typically impacts reward entitlement. |
| Fiat withdrawal | A$Varies | Fees and processing times depend on payment rail and currency conversion; may be charged per transaction. |
| On-chain crypto withdrawal | A$Varies (network fee) | Withdrawal cost depends on coin and network congestion; amount is charged in crypto and converts to AUD at fiat value. |
| Feature | Binance | Typical local alternatives |
|---|---|---|
| Fee structure | Tiered maker/taker, BNB discounts; VIP tiers for volume. | Local exchanges often simpler fee tables and local fiat rails; fees vary. |
| Locked staking availability | Yes - multiple terms and APYs via Earn. | Some local platforms offer staking but lock terms and custodial arrangements differ. |
| Regulatory remediation history | Local derivatives unit had licence cancelled and remediation overseen by ASIC (approx A$13.1 million). | Other providers may be subject to different regulatory regimes and dispute schemes. |
Common pitfalls and mistakes to avoid
- Assuming reversibility: treating on-chain transfers as reversible is legally and technically incorrect.
- Ignoring purchase channel: failing to identify whether a subscription or payment was billed by an app store or by Binance itself can delay correct remedy routes.
- Not preserving terms: not saving the exact terms and timestamps reduces leverage in any dispute about cancellation windows or refund entitlements.
- Overlooking product classification: mischaracterising a product as a consumer service when it is a financial service under the Corporations Act can lead to wrong expectations about protections.
Specific phrases users search for
How to cancel locked staking Binance or cancel locked staking Binance: locked staking is contractual and usually immobile during the lock period; early redemption, if permitted, commonly reduces or forfeits accrued rewards.
How to cancel Binance withdrawal, can i cancel Binance withdrawal, cancel Binance withdrawal: where the withdrawal is an on-chain transaction it is irreversible once confirmed; fiat withdrawals depend on processing stage and payment rail rules, and cancellations are not guaranteed.
Cancel trade Binance: a placed trade that is not yet executed may be cancellable, but executed trades are final and commercially settled by the exchange.
Practical dispute and escalation options
Document everything and preserve contemporaneous records showing the date, time and content of the transaction and the terms in force at the time of purchase.
If your claim involves products or conduct that fell within the scope of a cancelled or regulated local licence, regulatory remediation processes and notices may be relevant evidence; ASIC’s public materials document such remediation.
Where a refund or reversal is pursued through a payment provider, the provider’s chargeback or dispute scheme may be an avenue; outcomes depend on the contractual relationship between payer, merchant and acquirer.
Address
- Address: 65 Connaught St Sandgate - 4017 AUSTRALIA
What to do after cancelling Binance
After a cancellation request or a disputed transaction, continue to monitor payment and bank statements and record any subsequent debits or credits.
Where funds remain inaccessible or the cancellation/refund is not delivered, consider obtaining independent legal advice about remedies and the viability of a dispute or compensation claim under financial services law or consumer law.
Where regulatory remediation programs have been announced for specific Binance product lines, check official regulator publications and preserve evidence that supports your inclusion in any remediation cohort.
Finally, if you must restart access to markets or move holdings, plan the operational next steps that respect product-specific finality: for example, treat on-chain transfers as final, treat locked staking as time-bound, and account for fee-tier consequences when rebuilding trading positions.