Bias tape, is a multipurpose sewing notion. If your project requires this sewing notion, your pattern will tell you what kind and how much you will need. Typically it's use is for a casual garment, to replace a facing.
It is used to trim the edge of seam allowances, covering piping, finishing the raw edges of armholes and necklines and finishing hem, as well as offering a decorative design to your garment or sewing project.
Binding is a long narrow piece of fabric cut at a 45 degree angle. It comes in single and double fold. You can purchase binding in pre cut packages or you can have it cut to length.
Finishing a raw edge of your sewing project is great for shear fabric, when you don't want any bulk at the neckline or arm holes, created by a facing. This is when binding is useful.
The fabric cut on the diagonal (45 degree angle) gives stretch when sewing around curves and corners.
I used a double folded binding to finish the raw edge of the inside facing of the waist band of these pants.
I could have serged the edge or just turned it under, but I chose to use binding because again it looks professional and it's a cleaner finish.
I opened one side of the tape fold with my iron.
Pin the opened side to your neck line as in the photo. Then stitch about 1/4" from the edge
After you stitch the binding in place press flat toward the edge as shown, then press to the wrong side of the fabric.
Stitch the bias binding again, very close to the edge to secure the tape to the inside.
You can make your own binding by cutting diagonal strips and sewing them together to create the strip length you need.
This is useful for decorative features to your sewing projects. It also gives you a chance to use up excess fabric that is left over from your sewing projects.
Simplicity offers a machine that makes a large amount of bias tape at once. This is a more expensive version, but worth while all the same.
There are simple tools for making binding. They come in multiple sizes for making different widths of tape.
I like to find all types of help from around the web. Here are some really good tutorials for making your own binding strips. I hope this helps
It's nice to have contrasting fabrics or matching fabrics to finish seam edges for a custom made look, it is more work but the results are very professional and clean looking.