How to avoid bank account freeze during Binance P2P in Pakistan

Many people in Pakistan earn money online and use P2P (Peer-to-Peer) to withdraw their funds.

P2P is a system that allows you to sell your cryptocurrency to another person and receive payment in your local currency.

P2P is used by many people who work online, such as crypto traders, freelancers, and people who earn money through websites.

However, many people are facing scams through P2P transactions. Sometimes, an unknown person sends money to your bank account. Later, the bank may inform you that the payment came from the wrong account, which can lead to your account being frozen.

According to a report, more than 11,000+ bank accounts were frozen in 2024 due to suspected illegal activities. Many of these accounts were involved in P2P transactions. Surprisingly, around 90% of the affected account holders were reported to be innocent.

If this has happened to you, this guide will explain how to avoid such problems in the future and what steps you should take if your account has already been frozen.

Why does a bank account get frozen?

Many people’s bank accounts get frozen because the person who sent money to their account is marked as a “red flag” in the bank’s system. This means the sender’s account may be linked to suspicious or illegal activity, so the bank takes action and freezes related accounts for safety.

When money is transferred from that account to your account, the bank suspects that your account may also be involved in suspicious activity. Because of this, the bank may also place a red flag on your account and block it.

Sometimes it happens that the person who scams you still sends the payment to your bank account, and you receive it successfully. But after 5 to 10 minutes, the scammer calls their bank.

And they say, “Sir, I mistakenly sent the payment to the wrong account.” In this situation, the bank does not return the payment to them. Instead, it freezes your account.

Another major issue is that the scammer who sends you money often uses an account where the name does not match.

That means when someone creates a Binance or any P2P account, the name used by the scammer is different from the name used for their bank account. They may have registered their bank account using fake or different identity details. Because of this mismatch, the bank can also freeze your account.

Another scam also happens with Easypaisa or JazzCash payments in P2P transactions. The scammer sends payment through Easypaisa or JazzCash, but uses a number not app or identity. In some cases, the payment is transferred within 30 minutes, which makes the situation more suspicious and risky.

During this 30-minute period, the scammer calls the Easypaisa or JazzCash helpline and says, “Sir, I mistakenly sent this payment.” Because of this, your Easypaisa or JazzCash account can also get blocked.

What to Do If Your Bank Account Gets Frozen? (Emergency Steps)

If your bank account has been frozen, you should not panic. You need to follow some simple steps, after which your account can be unfrozen. Also, there is no need to worry at all because your payment will not go anywhere in any situation. Your money will definitely be returned to you.

First, you should go to your bank and ask why your account was frozen. If it is due to a complaint, make sure to note down the Complaint ID and the FIA Circle details for reference. If they tell you that the account was blocked because of a P2P transaction,

then you should leave the bank and open your P2P platform account. If you used Binance, log in to Binance and go to your order history. Open the history of the person you traded with. There you will see an “Appeal” option—click on it and explain the full situation to Binance. After that, Binance will take action against the other party and your payment will be returned to you.

In addition to this, you should also do one more important thing. Keep all the proof of your conversation with that person, including screenshots of the chat and the payment sent by them. Make sure to save everything properly with dates and times.

If even after this the issue is not resolved, the final option is that if your bank account has been frozen by the bank or by FIA, you should write an application for them.

In that application, clearly explain the full situation in detail and attach all the proof you have. After that, there is a 99% chance that yo

ur account will be recovered, your payment will be returned, and action will also be taken against the scammer.

What Should Be Kept in Mind While Making Binance P2P Trades?

While doing P2P trading, always remember that the payment you receive must come from the same name as the person’s Binance or any other P2P account name.

Do not release the crypto until you receive payment from the same verified name.

Verified Merchants

Always trade with verified users who have a 98% or 100% completion rate. Avoid trading with users who are not verified or have low ratings like 90%, even if they are offering a higher price.

Monitor Bank Transfer Remarks/Descriptions

Pakistani banks (such as HBL, Meezan, Alfalah) and digital wallets (like NayaPay, SadaPay) are very strict about crypto-related transactions. Make sure to check everything carefully and also communicate in the chat if needed.

Always try to receive payment through Easypaisa or JazzCash. Do not release crypto until the payment is fully received, no matter how much the sender insists. Once the payment is confirmed, only then release your crypto.

Must Read Negative Reviews (Feedback) of Buyer

Always read the buyer’s feedback carefully. If other users have given negative reviews or complained about the buyer, avoid trading with them—even if they are offering a better rate.

Avoid Greed and Use Filters

Never be greedy. Always look for buyers who match your requirements. For this, Binance provides a “Filters” feature. Use it to set your requirements so that only suitable traders appear in your list.

In Pakistan, a new organization called ‘PVARA’ is being formed to handle this issue. Its job will be to monitor and manage these kinds of matters. If you want to know more about it, you can click below and read further.

Conclusion

Binance P2P is one of the best and easiest ways to buy and sell crypto in Pakistan. However, even a small mistake or carelessness can lead to big financial losses. So always trade safely and avoid greed while doing transactions.