Beware of PayPal and other reversible transfer services - page 4.

shekt4

member

Activity: 95

Merit: 10

Quote from: theymos on June 10, 2011, 01:47:35 PM

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

Yes ....so true ! A friend once had check back issues after receiving cash through a bank transfer which he has rendered service...it was a bad experience for him! Since that ugly incident...me and my co networks are very careful as to where payments are coming from....

Alex_Zi

full member

Activity: 476

Merit: 102

PayPal, Skrill (MoneyBookers) and so on was actually long time ago in the far far galaxy))) It is very centralized and has very high fees. It's better to use p2p private platform of meetinf face to face for exchange, but this way has another dangers.

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: PepsLove on October 17, 2018, 09:30:29 AM

skrill is even more dangerous. they can just refund the buyer and also charge you for inappropriate usage of their service. avoid!

I believe Skrill is much harder when it comes to chargebacks so I would recommend it over PayPal and I don't think what you said is even possible. By that logic, If the transaction from A to B is made and then one user is sending to another, everyone will lose their funds? that would make the company close in a matter of days.

PepsLove

newbie

Activity: 101

Merit: 0

Quote from: Alex_Zi on October 12, 2018, 05:07:34 PM

PayPal, MoneyBookers (Skrill) is very centralized. I don't like all of it. There ae a lot of problems to use it for changing fiat to crypto and back.

skrill is even more dangerous. they can just refund the buyer and also charge you for inappropriate usage of their service. avoid!

PepsLove

newbie

Activity: 101

Merit: 0

Quote from: theymos on June 10, 2011, 01:47:35 PM

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

I have lost 150$ at paypal for some payment of btc. They can easily create a ticket and force you to refund money back to them. PayPal can charge your credit card if you move your funds out of it. beware.

Alex_Zi

full member

Activity: 476

Merit: 102

PayPal, MoneyBookers (Skrill) is very centralized. I don't like all of it. There ae a lot of problems to use it for changing fiat to crypto and back.

_oh_no_stop_this_

full member

Activity: 183

Merit: 100

When I sell something using paypal, so many sales being reversed due to "credit card fraud" and I never get refund. That is all I get for their ridiculous fees

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: ?? on ??

I never heard that Western Union is reversible? I even tried once to return my founds, no way.

What then they other best option to use fiat to buy coins/bitcoins then?

If you pickup your funds and transactions is between other countries, I don't believe there is much that can be done.

I would just use an exchange that accept credit cards If I were you, something like Coinmama or Coinbase should do the trick.

_oh_no_stop_this_

full member

Activity: 183

Merit: 100

The best option is a personal meeting and cash-to-coins exchange. Much better than any of the services.

DynamicBlockchain

newbie

Activity: 2

Merit: 0

Good evening , this is my first post:

Paypal reverse by credit card : as the money is chargedback it can be chargedback by the legal owner of the credit card that also bought you bitcoins ( in this case Paypal can give the data of the client and a case can be opened ) or by a stolen credit card that was used to buy bitcoins ( in this case Paypal should pay as they accepted the credit card ) .

Is there any lawer who can do the work of the case and get payed only if the case is won?

Thanks

Quote from: theymos on June 10, 2011, 01:47:35 PM

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: Giardesano on August 13, 2018, 08:15:18 PM

Why is Western Union reversible?

It's explained. I believe the reverse won't happen just because you told them, there should be a lawsuit but I believe If the transaction is worldwide, and you will get your money instantly, you should be fine.

Giardesano

newbie

Activity: 54

Merit: 0

Why is Western Union reversible?

roccobull

newbie

Activity: 13

Merit: 0

PayPal is definitely one of the least secure methods of payment. so much fraudulent activity every transaction has to be verified personally. Too bad we cant go back to the days where our monetary system/exchanges were completely reliable and trustworthy.

Giardesano

newbie

Activity: 54

Merit: 0

Quote from: MadGamer on July 27, 2018, 08:53:04 AM

Quote from: Giardesano on July 27, 2018, 06:38:24 AM

Is Circle Pay a reversible transfer service?

Just like the Neteller, Skrill and the rest of payment methods. If the account was funded using crypto, no, otherwise yes. I suggest reading the full User agreement so you know what you're getting yourself into:

Quote

Once a bitcoin transaction has been initiated, it cannot be reversed. Deposits using a bank account, debit card, or credit card may be reversed or may be subject to a chargeback or related claim.

Thanks

vutienthanh

newbie

Activity: 322

Merit: 0

This is why the ecommerce model, Shopify online shopping needs to have Paypal presence in the payment. To assist shoppers with the safest level possible. And that is why PayPal is still in the limelight even as Bitcoin is gaining market share. PayPal does not seem to lose its value. But PayPal users must know the big disadvantage of PayPal with the current user is the problem Limit. Unfortunately, you will need to withdraw a certain amount of money on PayPal when this happens

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: Giardesano on July 27, 2018, 06:38:24 AM

Is Circle Pay a reversible transfer service?

Just like the Neteller, Skrill and the rest of payment methods. If the account was funded using crypto, no, otherwise yes. I suggest reading the full User agreement so you know what you're getting yourself into:

Quote

Once a bitcoin transaction has been initiated, it cannot be reversed. Deposits using a bank account, debit card, or credit card may be reversed or may be subject to a chargeback or related claim.

Giardesano

newbie

Activity: 54

Merit: 0

Is Circle Pay a reversible transfer service?

celeNG666

newbie

Activity: 18

Merit: 0

Im not really use that kind of services... but thanks for the information... Im really apreciated it Wink

OmegaStarScream

staff

Activity: 3402

Merit: 6065

Quote from: moneyafric on July 25, 2018, 03:34:01 PM

I am trying to sell LTC for the first time. I have accounts on bct-e and vircurex but I am not understanding how the usd I get from selling gets into my bank account. can someone point me in the right direction? I am having a hard time finding a post about this but there has to be one.

thanks

BTC-E closed and re-opened as Wex.nz. I'm not sure of your question but the procedure is simple (assuming that they support that), the exchange send you fiat to your bank account in exchange of your LTC or BTC.

As for Vircurex, I never heard of the exchange but after some searching, It seems like they have a class-action lawsuit against them and they are not longer operating.

moneyafric

member

Activity: 274

Merit: 10

I am trying to sell LTC for the first time. I have accounts on bct-e and vircurex but I am not understanding how the usd I get from selling gets into my bank account. can someone point me in the right direction? I am having a hard time finding a post about this but there has to be one.

thanks

Topic: Beware of PayPal and other reversible transfer services - page 4. (Read 815609 times)