Yep, LBC and now Pax have gone.
Most i know are waiting on requests to join Noones due to massive demand, not one trader from the previous has joined/received email.
Regarding 'valid transaction proof', me and the purchaser agreed that the description i received did not make sense, i had numerous screenshots of his chats with Monese.
I still do not know if they operate as a normal bank regarding bank transfers, if they do then it's not a problem....
When i traded on LBC and Pax and selected Bank Transfer it would eliminate Monese from the search results?
Why??
Topic: Sold Bitcoin and received bank payment through Monese? Is it safe?! (Read 97 times)
April 12, 2023, 10:55:40 AM
It is only a small amount, i'm just building up a few trades on the site tbh.
Looks like i can carry over my feedback as well from LBC which is great.
The buyer raised the dispute, not me...I'm happy with his trades and FB tbh so will release BTC when a mod ends the dispute.
I was just querying if anyone has got stung by Monese? Seems not tbh, i know a few people who have got caught via Paypal though!!
EDIT -The seller has also stated that he can use Starling Bank for bank transfers in the future, not sure if that's any better? Its not listed on LBC info page...
Cheers
Since you are saying the trader has good reputation but myself never used the site you're saying and I moved to pax now they also shut their doors so noones is the current choice of me.Looks like i can carry over my feedback as well from LBC which is great.
The buyer raised the dispute, not me...I'm happy with his trades and FB tbh so will release BTC when a mod ends the dispute.
I was just querying if anyone has got stung by Monese? Seems not tbh, i know a few people who have got caught via Paypal though!!
EDIT -The seller has also stated that he can use Starling Bank for bank transfers in the future, not sure if that's any better? Its not listed on LBC info page...
Cheers
About the topic, if you received the right amount and the user send valid transaction proof with all the transaction details then you can release it now instead of waiting for mod to release it and also make sure you read the terms and conditions of a trader before starting a trade to avoid confusion like this in future.
April 12, 2023, 10:03:55 AM
It is only a small amount, i'm just building up a few trades on the site tbh.
Looks like i can carry over my feedback as well from LBC which is great.
The buyer raised the dispute, not me...I'm happy with his trades and FB tbh so will release BTC when a mod ends the dispute.
I was just querying if anyone has got stung by Monese? Seems not tbh, i know a few people who have got caught via Paypal though!!
EDIT -The seller has also stated that he can use Starling Bank for bank transfers in the future, not sure if that's any better? Its not listed on LBC info page...
Cheers
Looks like i can carry over my feedback as well from LBC which is great.
The buyer raised the dispute, not me...I'm happy with his trades and FB tbh so will release BTC when a mod ends the dispute.
I was just querying if anyone has got stung by Monese? Seems not tbh, i know a few people who have got caught via Paypal though!!
EDIT -The seller has also stated that he can use Starling Bank for bank transfers in the future, not sure if that's any better? Its not listed on LBC info page...
Cheers
April 12, 2023, 07:49:23 AM
The seller has now raised a dispute on localcoinswap.
Do you mean the buyer we're talking about in this thread? I'm confused why? did everything not go well?
Not sure what to do tbh but I’m pretty sure it’s ok and seller has good FB and has transported FB from LBC
But I would still tread cautiously for relatively big amounts. Thankfully, you only did a small amount for this trade.
Figured I should mention but there's a bitcoin focused subreddit for UK people (https://www.reddit.com/r/BitcoinUK), you can try to ask your local people for their personal experiences on mentioned payment method.
April 12, 2023, 05:36:26 AM
Thanks for the reply.
I’m using localcoinswap.com.
I set up sale as bank transfer but it shows as a ‘Credit Transaction’.
I have looked back at other payments I have received when I was on LBC and they are also labelled the same.
I’m thinking this might be ok?
The seller has now raised a dispute on localcoinswap.
Not sure what to do tbh but I’m pretty sure it’s ok and seller has good FB and has transported FB from LBC
Cheers
I’m using localcoinswap.com.
I set up sale as bank transfer but it shows as a ‘Credit Transaction’.
I have looked back at other payments I have received when I was on LBC and they are also labelled the same.
I’m thinking this might be ok?
The seller has now raised a dispute on localcoinswap.
Not sure what to do tbh but I’m pretty sure it’s ok and seller has good FB and has transported FB from LBC
Cheers
April 12, 2023, 05:06:39 AM
From their help article, it appears they can reverse mistakenly sent transactions.
In localbitcoins, I see monese is tagged as "medium risk" which by their definition means "The payment is reversible and LocalBitcoins receive the occasional report of fraud.", see: https://localbitcoins.com/guides/how-to-sell-bitcoins-online#toc4.
Occasional fraud could mean the chargeback wasn't easy to achieve as I imagine users still have to go thru monese's protocols hence occasional or maybe there just aren't many people using them on their platform.
Can we know which exchange platform did you use and did you check if your buyer's account has a great reputation?
If you sent money to the wrong account details and you don't know the recipient, you should first wait 7 days to see if the money bounces back automatically into your account. This will happen if the wrong account details don't exist with any bank or financial institution, meaning your money wasn’t received by anyone.
If your money hasn’t returned automatically within 7 days, contact our Customer Support team who can help to recover the money for you in the bank recall process.
It’s worth noting that the bank recall process can take up to 120 days and we can't guarantee a successful outcome.
If your money hasn’t returned automatically within 7 days, contact our Customer Support team who can help to recover the money for you in the bank recall process.
It’s worth noting that the bank recall process can take up to 120 days and we can't guarantee a successful outcome.
In localbitcoins, I see monese is tagged as "medium risk" which by their definition means "The payment is reversible and LocalBitcoins receive the occasional report of fraud.", see: https://localbitcoins.com/guides/how-to-sell-bitcoins-online#toc4.
Occasional fraud could mean the chargeback wasn't easy to achieve as I imagine users still have to go thru monese's protocols hence occasional or maybe there just aren't many people using them on their platform.
Can we know which exchange platform did you use and did you check if your buyer's account has a great reputation?
April 12, 2023, 05:03:20 AM
I never heard about Barclays it seems it's a bank? Their terms about buying crypto with Barclays seem fine.
Based on a bit of research Barclays can be charged back or reverse the transaction but since you use monese according to them the transaction cannot be a chargeback or reverse the transaction.
Based on a bit of research Barclays can be charged back or reverse the transaction but since you use monese according to them the transaction cannot be a chargeback or reverse the transaction.
April 12, 2023, 03:49:07 AM
Hi all
I just sold a small amount of BTC that was held in an escrow until I receive payment into my Barclays current account.
The mine is have come through and is showing in my account but I’m unsure if they can do a charge back and scan me?!
Anyone dealt with this. I have googled it but can’t get a clear answer.
Cheers
I just sold a small amount of BTC that was held in an escrow until I receive payment into my Barclays current account.
The mine is have come through and is showing in my account but I’m unsure if they can do a charge back and scan me?!
Anyone dealt with this. I have googled it but can’t get a clear answer.
Cheers
Jump to: