Buy crypto with urpay: the SAR method Binance named itself

You can buy USDT, BTC and other coins with urpay on Binance P2P: add urpay as a payment method, open a buy order with a seller who lists it, send the riyals from your urpay wallet, and the coins leave escrow the moment the seller confirms. What sets urpay apart from every other Saudi rail is one verifiable fact: on 29 April 2022 Binance announced urpay and Liv. KSA as official payment methods for the SAR market. Everything else on this page follows from that.

This page is only about the urpay rail. If you are new to P2P, start with the P2P hub for the general mechanics (escrow, merchant badges, appeals), then come back here for the urpay specifics. If you hold an Al Rajhi account rather than the wallet, the bank transfer page is the one you want.

Why urpay is different from STC Pay or a bank name

Open any SAR ad on Binance and you will see a list of payment methods: STC Pay, Al Rajhi, SNB, Riyad Bank, Alinma, "Bank Transfer". We can only tell you those are there because community test reports say so; Binance's live P2P page is JavaScript-only and publishes no official list. urpay is the exception. Binance's own announcement of 29 April 2022, "Binance P2P supports new payment methods for Southeast Asia and MENA", names urpay and Liv. KSA as the new methods for Saudi riyal trading. A December 2022 promotion then offered zero maker fees in the SAR and MAD markets, which tells you the riyal market was active enough to promote.

Why does "official" matter when the money moves the same way? Because the payment-method entry is built and labelled by Binance, so the field names (account name, mobile number) are consistent across all sellers, the method is filterable in the ad list, and nobody has to improvise a "bank transfer" entry and type their wallet number into a free-text field. It also means that if a seller refuses an urpay payment that matches the ad, you have an appeal on firm ground.

What urpay is

urpay is a digital wallet associated with Al Rajhi Bank, Saudi Arabia's largest retail bank; the company does not spell out the ownership on its own site. You open it with a National ID or Iqama, fund it from a bank account or card, and use it for transfers to other urpay users and to local and international bank accounts, salary receipt, bill payment and a physical madamadaSaudi Arabia's domestic debit card network, run under the Saudi Central Bank. A mada card works at every local ATM and point of sale. or Visa Platinum card. For P2P the two features that matter are instant wallet-to-wallet transfers and the fact that millions of Al Rajhi customers already have it installed, so sellers who bank with Al Rajhi often prefer urpay to a bank transfer because the money shows up without a SARIE hop.

Wallet limits depend on your verification tier. urpay does not publish a tier table on the pages we checked, so we will not invent one: open the app, read your sending limits in the profile section, and size your P2P orders accordingly. The practical rule is that a wallet suits orders from a few hundred to a few thousand riyals, and an account transfer suits anything bigger.

Adding urpay as a payment method on Binance

1. Complete Binance KYC first

   Binance requires a government ID and proof of address before P2P is available. Enable two-factor authentication at the same time; P2P without 2FA is an invitation.

2. P2P → Payment Methods → Add

   Search "urpay" in the method list. Because it is an official entry, it appears with its own label rather than under a generic "Bank Transfer".

3. Enter your name exactly as urpay shows it

   Open the urpay app, copy the account holder name in Latin script, paste it. "Mohammed" and "Mohammad" are different names to a seller comparing screens.

4. Enter the registered mobile number

   This is what a buyer will send to when you sell. Double-check the digits; a typo here means a buyer's money goes to a stranger and the appeal is yours to lose.

5. Save, then test with a small order

   Your first trade should be 200–500 SAR. It proves the name matches, the wallet tier allows it and you understand the timer before you commit real money.

Buying USDT with urpay, step by step

With the method saved, the purchase itself is short. Go to P2P, choose Buy, USDT, fiat SAR, and filter payment by urpay. Sort by price but read each seller's completion rate and order count; a merchant with a verified badge and thousands of orders is where the premium is lowest and the release fastest. Enter the riyal amount and open the order. The seller's USDT moves into escrowEscrowThe exchange locks the seller's coins when the order opens and releases them to you only after the seller confirms your payment or an appeal is decided in your favour., the timer starts, and the order page shows the seller's urpay mobile number and name.

Switch to urpay, send the exact amount to that number, and leave the message field blank. Never write "Binance", "USDT" or "crypto" in it; a neutral note or nothing at all. Back on Binance, tap "Transferred, notify seller" only after urpay shows the transfer as completed. Most sellers release within minutes. If the timer runs out with no release, open an appeal from the order page with a screenshot of the urpay transaction (reference, amount, date, recipient) and let Binance settle the escrow. Do not cancel, do not pay twice.

urpay wallet vs Al Rajhi account transfer

A sensible pattern many Al Rajhi customers settle on: urpay for routine purchases, the account for anything that would push the wallet past its tier. Both carry the same compliance logic, since both sit inside a SAMA-supervised group, so the note rule and the name rule apply equally.

Fees and the premium over the peg

Binance's charge for a taker (you, when you fill an existing ad) is a flat 0.05 USDT per order on USDT pairs in the SAR market, in force since 19 March 2024. urpay charges nothing for a wallet-to-wallet transfer. That leaves the seller's premiumPremiumThe percentage a seller's USDT price sits above the 3.75 SAR peg; the real cost of the P2P route.: the riyal is pegged at 3.75 per dollar, USDT tracks the dollar, and ads price above 3.75 by a small margin that secondary reports place well under 2% during banking hours. We publish no fixed number because we have no live feed; enter the ad price you see and the calculator shows what you overpay.

Selling crypto to receive urpay

On the Sell side, urpay as your receiving method is attractive for a simple reason: buyers paying from an urpay wallet produce an instant, clearly labelled inbound transfer, so you can verify and release quickly and keep your completion rate high. Post an ad or accept a buyer's, wait for the order, and release only after the riyals appear in your urpay balance. A screenshot in the chat is not a payment. Once released, the money is spendable at once through the urpay mada card, or can be moved to your Al Rajhi account. Our selling guide covers the full off-ramp picture.

Keep inbound volumes in line with how you normally use the wallet. There is no documented case in our sources of a Saudi wallet being frozen for P2P, but any SAMA-supervised institution reviews unusual inbound patterns, and many small transfers from many strangers is exactly such a pattern.

urpay on Bybit and OKX

Bybit and OKX both run SAR P2P markets, and community reports list urpay among the methods sellers accept there. Neither platform has published an announcement naming urpay the way Binance did, so on those platforms urpay sits in the same "reported" category as STC Pay and the bank names. The flow is identical: add the method with your exact name and number, buy from sellers who list it, pay from the wallet, mark as paid, wait for release. Bybit's Islamic Account and OKX's Web3 wallet are the reasons someone might pick them over Binance; the urpay rail itself works the same.

Risks and scams on the urpay rail

• Name mismatch. The most common failed trade. Your urpay name and your exchange name must be identical in Latin script. Fix it in the payment-method settings before the first order.
• "Release first." A buyer who asks you to release before you see money in your balance is the scam. Escrow means you never have to.
• Fake confirmations. Edited urpay screenshots exist. Only your own app balance counts.
• Third-party payments. Paying a seller from someone else's wallet, or accepting money from a wallet that is not the buyer's, breaks exchange rules and is how stolen funds get laundered through innocent accounts. Expect restrictions on both sides.
• The transfer note. Blank or neutral. A reviewer at a SAMA-supervised institution who reads "USDT" in a note has a reason to ask questions.
• Off-platform deals. "I'll give you a better rate on WhatsApp" removes escrow and the appeal. See the scam guide.

And the risk that applies to every rail: urpay makes the riyal leg instant and traceable, but the coins sit on an exchange with no Saudi licence and no recourse to SAMA or the CMA. Keep only what you are trading on the exchange; move the rest to a wallet you control.

Frequently asked questions

Sources and references

1. Binance — P2P supports new payment methods for Southeast Asia and MENA: urpay and Liv. KSA (29 Apr 2022)
2. Binance — zero maker fees promotion in SAR and MAD P2P markets (Dec 2022)
3. Binance — flat 0.05 USDT taker fee on USDT pairs in selected fiat markets (from 19 Mar 2024)
4. urpay — official site (transfers, mada and Visa Platinum cards)
5. Al Rajhi Bank — official site
6. Binance Square — P2P safety guide
7. Saudi Central Bank — Standing Committee warning on virtual currencies (2018)
8. Mondaq / Zamakhchary & Co — crypto platforms and fiat rails in Saudi Arabia (Feb 2026)

Related pages

• P2P tradingHow SAR P2P works and how to avoid scams
• USDT with STC PayBuy Tether with STC Pay (stc bank) via P2P
• Bank transferAl Rajhi, SNB, Riyad Bank and SARIE
• Buy with AlinmaPayAlinmaPay and Alinma Bank on P2P
• Binance in KSASAR P2P market, urpay, fees
• Tether (USDT)The P2P settlement coin and its networks