Topic: Chase quick pay question.... (Read 1123 times)
Bank to Bank may take longer than Quick pay with Chase to Chase. Wait for it to be in your account to spend. Then Send.
Once its in your available balance I would feel pretty safe to release
anyone doing btc for wire transfer has to have some assumptions set as standard.
the first is that bitcoin is locked into localbitcoins
the next is that the buyer of bitcoins (person giving you the chase quickpay) has agreed to hand you X for Y. so even if the value changes, its meaningless. the agreement has been made.
he asked for bitcoin at that set price and as long as that amount is in your bank account, then the set bitcoin is released to him.. no more no less.
some banks do not reverse wire transfers, but if a complaint is made then a bank 'can' freeze your account and investigate it, which can be worse then just a small refund/chargeback
so dont worry about any value changes or chargebacks. just be sure the guy has over 100 good tx's with as close to 100% satisfaction (preferably full 100%)
the first is that bitcoin is locked into localbitcoins
the next is that the buyer of bitcoins (person giving you the chase quickpay) has agreed to hand you X for Y. so even if the value changes, its meaningless. the agreement has been made.
he asked for bitcoin at that set price and as long as that amount is in your bank account, then the set bitcoin is released to him.. no more no less.
some banks do not reverse wire transfers, but if a complaint is made then a bank 'can' freeze your account and investigate it, which can be worse then just a small refund/chargeback
so dont worry about any value changes or chargebacks. just be sure the guy has over 100 good tx's with as close to 100% satisfaction (preferably full 100%)
Okay...Well I have a open transaction currently (I haven't released the BTC). I was sent a chase quick pay to my Wells fargo account accepted it and says in processing....When would be a safe time to release the BTC? I've heard stories of people getting money reversed all the way up to a week but I spoke to a chase rep and they told me once I accept it and its in process it has no way of being cancelled or reversed.. It is 12pm EST my time and it says it will take 1-2 business days for it to clear...but I've read several stories saying otherwise...can anyone enlighten me? I'd feel bad if I release the btc and it drops another 50$ from me making him wait. I checked my account and theirs no activity yet but chase said since its already this late it won't be till tomorrow it is processed...I told him once I see some kind of proof of it being in my account I will release..
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