Topic: MoneyPak for your BTC (Read 1573 times)

Simple.

1.) You buy a MoneyPak at the store.  Smile for the camera.
2.) You send the MoneyPak to me along with the receipt, date and amount.  I then use the MoneyPak code to load my debit card. It works so I send to you bitcoins.
3.) You make an attempt to load your debit card with the code that you know has already been redeemed.  It fails.  You call Green Dot and claim you couldn't redeem the code.
4.) I try to use my debit card and it has no funds.  I check online, and the funds are gone.  I call Green Dot.  They ask me to provide the receipt where I bought the MoneyPak.  Hm ... I don't live anywhere near the address.  Was I traveling?  Nope.  I have to explain I bought the code online.

Because Green Dot specifically says the card is for the purpose of loading funds into your own reloadable debit card, they side with the customer who paid at the store and then was not able to load his card.  

To prevent this:


There've been a few scam incidents involving bitcoin that were successful here on the forums, but I don't remember if there were any where the code was redeemed and then reversed.    It is apparently trivial though:
  - http://www.complaintsboard.com/complaints/green-dot-moneypak-houston-texas-c228362.html


"Most of the ppl I buy mp's from they charge back and report fraud."
 - http://exchangemoneyforum.com/showthread.php/122651-Green-Dot-Money-Pak-Card-for-Visa-Master-Paypal-Ebay

- http://www.zoklet.net/bbs/showpost.php?s=539e410ecb2424796c3052d0141f247f&p=3878496&postcount=10

MoneyPak Scams
 - http://volatiletechnology.com/police/wiki/index.php?title=MoneyPak_Scams

Receipts showing the addresses of the POS & matching the last 4 of the scratch-off code.

Greendot wont reverse anything, I've cashed thousands of them, and the only problem I've ever had was cashing them to fast, and getting cards blocked.

They even state on their homepage..

"Use your MoneyPak number only with businesses on our approved list. If anyone else asks for your MoneyPak number or information from your receipt, it’s probably a scam. Don’t give your MoneyPak number to pay for something you buy through the classifieds or to collect a prize or sweepstakes. Do not give away your receipt information to another party either. If you give your MoneyPak number or information about the purchase transaction to a criminal, Green Dot is not responsible for paying you back. Your MoneyPak is not a bank account. The funds are not insured against loss."


And their TOS

"Refunds for Transactions Made With the MoneyPak. Any refund for Transactions with the MoneyPak must be obtained directly from the Partner. Once the Transaction is completed, Green Dot is not able to issue you a refund of the Transaction amount. You can obtain any refund for unused MoneyPak balance by filling out the refund request form on www.moneypak.com.

Disputes with Merchants. We are not responsible for the delivery, quality, safety, legality or any other aspect of products and services provided by Partners. All such disputes must be addressed to the applicable Partner."

I'm not sticking up for the guy, but does anyone have proof that moneypak has ever reversed a transaction? Most businesses have a nice chargeback record, so far I'm a few thousand cashed, with 0, zero, zip, nada, chargebacks.
I'm curious why the heck everyone runs around screaming moneypak chargebacks..


And how do you know which state they're purchased from? Again stated.. I've cashed thousands, and have not seen a pattern from which state they come from.

The problem is that let's say the seller redeems your MoneyPak and then a day or weeks later even Green Dot reverses the transaction, there's a problem.    There are a hundred scenarios why Green Dot might do this.

So a person accepting MoneyPak needs to have an abundance of caution when trading non-reversible bitcoins and accepting MoneyPak in exchange.

You said you would "go out to my local store and buy it" yet on your OTC history is a report that the MoneyPaks came from multiple states.  That's a red flag.  
So if there are any red flags, then those are BIG FLASHING RED SIGNS that say stop.  That's the nature of working with reversible forms of payment.

Everyone be careful, im very dangerous.

We do MP for BTC all the time.  Please check out the website in my signature to place an order and we can work something out.

There's a concern that was raised (the report of how the MoneyPaks purchased come from multiple states), and you didn't respond to it.  Posting here in a new thread only makes me feel the need to make sure the issue is posted here as well:

Hello, please post your price for 10 BTC inexchange for a MoneyPak code. I will go out to my local store and buy it either tonight if I get an offer or tomorrow afternoon. Thank you!