Multiple accounts means, for some reasons, you are maintaining more than one account, sub-accounts to be specific because multiple accounts aren't allowed in Binance.
Dont scare a readers. Such multi-accounters can be punished only in one case, given above, in point 3).
(highlighted by brown color)I don't think you're right in interpreting that Binance allows multiple accounts. In the first place, the KYC process was made mandatory for Binance to identify users and to make sure they only have one main account each. If you managed to open two main accounts, the only reason I see why it's
allowed is that Binance doesn't know who owns the other. Once the other account undergoes KYC, that's the time it's rejected because it isn't allowed.
Anyway, the option is more or less self-explanatory. If you have multiple accounts or sub-accounts, it's for you to combine them. Merge is to combine.
Has anyone tested this in practice?
1) Which account will disappear as a result of the merger? There is not specifically stated
2) What will happen to the balances? The merger will mean the disappearance of one of the accounts.
3) Will the KYC on main binance acc fly off during this merging procedure?
Please note that I haven't tried this. But I was able to open my old abandoned account to try deleting it. I arrived at where you're confused at. Choosing either the "no longer want to use this account" or the merge option doesn't matter. It both allows you to delete the account with the warning that you should download your account statements and transaction history.
I guess this is all just for Binance's recording purposes. The merge option signifying you're deleting it because it was already merged with another account.
Is the "Combine Accounts" feature still available from your end? If it is, I think you should do that first before deleting your other account.
1. The account you're currently using will remain.
2. Surely, the balances will be combined in one account as well as your trading and transaction histories.
3. Since you can't pass KYC on two different accounts, you'll be requesting the merge from your KYCed account. The other account will be merged on that account.