What are the changes for AZE traders in P2P Trading?
In accordance with the regulation, Bybit P2P has integrated a trusted third-party service provider that helps verify bank account ownership and transaction authenticity to ensure safer and more compliant trading for users in Azerbaijan (AZE) or those trading in Azerbaijani Manat (AZN). This integration helps us prevent scams, reduce false payment claims, and comply with local regulatory requirements.
How does this integration protect me as a user?
With this integration, Bybit will
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Verify if a user’s bank account name matches their KYC name, preventing impersonation.
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Confirm if the payment was actually made through the specified bank account.
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Help resolve disputes faster when users claim to have paid but did not.
This means higher security, fewer disputes, and greater trust between buyers and sellers.
Does the service provider have access to my personal or banking information?
The service provider only receives the minimum information required to verify your account and payment. All data is encrypted and protected under strict compliance and privacy standards. Please be assured that Bybit does not share your full personal or financial details beyond what is required for verification.
Who is affected?
Users who meet the following criteria are affected:
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Users whose Individual KYC Verification is AZE
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Users who trade AZN currency
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Users who hold an Azerbaijani bank account
If the trade does not involve an AZE user, the AZN currency or an Azerbaijani bank account, your experience will remain unchanged.
What is the impact on AZE-verified takers and makers?
The table below outlines the impact of this integration on the affected users.
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Criteria |
Takers |
Makers |
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Users whose Individual KYC Verification is AZE |
When creating an order, you are required to add your bank account details for verification, including both buy and sell orders. |
When posting buy and sell ads, you are required to verify your bank account details for your selected payment method |
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|
Users who trade AZN currency |
| |
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Users who hold an Azerbaijani bank account |
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Is there a fee?
Yes, a 0.25% service fee is charged to both the buyer and the seller for each P2P order involving the verification. Please note that the fee will be collected by the service provider.
When will the fee be charged?
The fee will be automatically deducted from your transaction at the time of order completion.
Is the fee refundable?
No, the fee is charged by the service provider as part of their verification process and cannot be refunded once the order is completed, even if the order is disputed.
Can I verify my bank account details before placing an order?
Yes, you can add the payment methods for bank account verification in advance. This helps ensure a smoother transaction process when placing orders.
How many bank accounts can be added for each payment method?
Only one account can be selected when placing an order, but you can add up to 99 accounts for each payment method under the P2P User Center → Payment method.
How can I check the verification status of my payment methods?
You can check the verification status on the payment methods page. To access this page, please go to P2P User Center → Payment Method.
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For Takers |
For Makers |
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What if the verification fails?
If the service provider cannot verify your bank account or payment, you will be notified immediately. You may need to:
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Ensure your bank account name matches your KYC verified name exactly and is valid.
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Double-check your account number and transfer details.
If the issue persists, please contact Bybit P2P Support via this form for further assistance.
Will this affect my existing P2P experience?
No, this integration is designed to make trades safer without complicating your experience. The P2P buy and sell processes remain the same, except for an additional verification step and the service fee. However, orders that need to go through verification will not be supported under P2P Express for the current release. Please stay tuned for future updates.
What should I do if the order is canceled but I have made the payment?
Please submit an appeal if you have made the payment but the order has been canceled. For more details about submitting an appeal, please refer to this article.
Note: Ensure you use the exact account selected to make or receive payments as non-verified Azerbaijani bank accounts cannot be used as valid proof of payment.