Selling And Bitcoins With PayPal | Bitcointalksearch.org

Welsh

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Quote from: stromma44 on September 17, 2013, 07:18:54 PM

Quote from: Firebug24k on September 17, 2013, 07:12:46 PM

I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it. Lost around $140. Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

Nope, they will send you your balance if you send them your IDs. But the question is why your account was "suspicious" ...

Could be minor like logging in from different country ips etc. I know legit owned accounts have been frozen for a short period of time until the documents were provided.

sublime5447

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Quote from: Welsh on September 17, 2013, 07:16:00 PM

Quote from: Firebug24k on September 17, 2013, 07:12:46 PM

I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it. Lost around $140. Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

They normally ask for Identification when freezing a account and require evidence to who you say you are. They normally sort it within 48 hours. You should of contacted them and sorted it. I'm not sure if you can still contact them and get it back.

They normally freeze accounts for suspicious activities or for people reporting you. (Happens often with ebay if you search the internet).

I had those kinda issues years ago when my sales volume started to go up. Gave them what they wanted and have never had an issue since.

They have done some cool things in the last few years. Like letting me send money for free and have made some favorable comments in reference to bitcoin.

I dont love them but they are alright.

stromma44

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Quote from: Firebug24k on September 17, 2013, 07:12:46 PM

I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it. Lost around $140. Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

Nope, they will send you your balance if you send them your IDs. But the question is why your account was "suspicious" ...

Welsh

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Quote from: Firebug24k on September 17, 2013, 07:12:46 PM

I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it. Lost around $140. Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

They normally ask for Identification when freezing a account and require evidence to who you say you are. They normally sort it within 48 hours. You should of contacted them and sorted it. I'm not sure if you can still contact them and get it back.

They normally freeze accounts for suspicious activities or for people reporting you. (Happens often with ebay if you search the internet).

Firebug24k

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I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it. Lost around $140. Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

sublime5447

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Quote from: LilGhost on September 17, 2013, 06:45:25 PM

Quote from: Baitty on September 17, 2013, 06:21:29 PM

Quote from: sublime5447 on September 17, 2013, 06:13:06 PM

Quote from: LilGhost on September 17, 2013, 06:09:00 PM

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

How are you a exception? Their TOS actually state that it's not allowed and they are willing to terminate/freeze accounts. Why would they aid you and not anyone else?

preventing a racial discrimination lawsuit?

? are you calling me a racial epitaph?

Baitty

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Quote from: sublime5447 on September 17, 2013, 06:49:54 PM

No I sell digital coins. It is not against their policy to sell digital items they just dont insure the transactions.

That's actually a good point. THEY don't insure you. But, I suppose it's allowed. Sorry, I was getting confused earlier.

sublime5447

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Money transmitters never take ownership. They dont sell thieir own funds. I do.

sublime5447

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No I sell digital coins. It is not against their policy to sell digital items they just dont insure the transactions.

Welsh

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Quote from: sublime5447 on September 17, 2013, 06:46:00 PM

What people are talking about when they say this is that is in violation to act as a money transmitter. I am not a money transmitter. I am a retail coin shop!

Are coin sellers on ebay money transmitters? Well than neither am I.

Are you selling Physical coins with Bitcoin loaded on them too? It's kind of a grey area. I don't think they cover you for virtual items, because you can't prove that you actually sent it to the buyer. But, I don't believe they disallow it. (However, I don't use paypal for this purpose so not 100% certain).

sublime5447

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What people are talking about when they say this is that is in violation to act as a money transmitter. I am not a money transmitter. I am a retail coin shop!

Are coin sellers on ebay money transmitters? Well than neither am I.

They wont freeze my account i have cabbage loans tied to my account and cover my loses. They dont care because when I get charge backs I cover my own loses

LilGhost

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Quote from: Baitty on September 17, 2013, 06:21:29 PM

Quote from: sublime5447 on September 17, 2013, 06:13:06 PM

Quote from: LilGhost on September 17, 2013, 06:09:00 PM

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

How are you a exception? Their TOS actually state that it's not allowed and they are willing to terminate/freeze accounts. Why would they aid you and not anyone else?

preventing a racial discrimination lawsuit?

sublime5447

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Link to that I have heard it since I started but have never been able to find where PP says I cant sell coins?

Baitty

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Quote from: sublime5447 on September 17, 2013, 06:13:06 PM

Quote from: LilGhost on September 17, 2013, 06:09:00 PM

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

How are you a exception? Their TOS actually state that it's not allowed and they are willing to terminate/freeze accounts. Why would they aid you and not anyone else?

LilGhost

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Activity: 72

Merit: 10

Quote from: sublime5447 on September 17, 2013, 06:13:06 PM

Quote from: LilGhost on September 17, 2013, 06:09:00 PM

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

All i know is that according to their TOS, it's against the rules and they can freeze accounts for buying/selling/trading e-Currencies.
I wish you luck in using paypal to buy/sell/trade, but as for me, I wont use my main paypal for that. I would have to make a second paypal just for that just in case they froze it.

sublime5447

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Activity: 966

Merit: 1000

Quote from: LilGhost on September 17, 2013, 06:09:00 PM

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

Baitty

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Activity: 532

Merit: 500

Currently held as collateral by monbux

Quote from: thetran209 on September 17, 2013, 06:10:34 PM

If you download the new Paypal App for Android, your Paypal balance can be viewed by pressing the "Wallet" Tab. So, maybe something is looming in the future with Bitcoin + Paypal?

I don't think that indicates anything. A lot of banks actually call the place were your money is displayed "Wallet".

thetran209

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If you download the new Paypal App for Android, your Paypal balance can be viewed by pressing the "Wallet" Tab. So, maybe something is looming in the future with Bitcoin + Paypal?

LilGhost

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Merit: 10

Quote from: tysat on September 17, 2013, 08:49:56 AM

Quote from: marketorder on September 17, 2013, 08:46:01 AM

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

sublime5447

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Activity: 966

Merit: 1000

"By trusted I mean in the default trust list & people I have dealt with and many others have."

I dont trust people because theymos says I should trust them

Topic: Selling And Bitcoins With PayPal (Read 1791 times)