Bitcoin Forum

If I understand correctly, MoneyPak payments are safe to accept and cannot be reversed?

I can't imagine how they could be reversible, but I just wanted to confirm this before I start selling BTC and accepting MP payments...

Thanks,

--ATC--

They can be reversed.  I have heard that if the person cancels the credit card transaction used to purchase the moneypak, then paypal will take away the value of the moneypak from your account.  I have also heard that some stores will even allow you to return a moneypak, but that is unverified.

All I know is, moneypaks might be a little bit safer than using paypal directly, but certainly not fool-proof, and certainly still something that people can abuse.

Hmmm... that is a bit disconcerting.  :-\

I was under the impression you could only use cash to buy MoneyPak for some reason.

Everything can be reversed.
Cash can be reversed.
Bankwires can be reversed.
Bitcoins tx can be reversed.

Stop thinking in black or white; irreversible vs reversible, safe vs unsafe.

Start thinking about HOW HARD IS THIS TRANSACTION TO REVERSE.  MoneyPaks are relatively hard to reverse but it can be done especially when the person accepting is naive or sloppy.

Some locations allow you to buy a MP with a debit card. 

Interesting... according to eHow, you are correct:  http://www.ehow.com/info_8501613_can-credit-card-buy-moneypak.html

And actually, I recently received a donation for my Minecraft community with someone who purchased a moneypak with their visa gift card (per my recommendation), then gave me the moneypak code.  So I agree with D&T that some places allow debit card/cash cards to purchase moneypaks.

So always get a receipt+MP pic/scan, match the MP public code to the receipt, and ensure that it was purchased with cash. Reject if not cash-purchased.

Seems like a fairly solid way to go about it...!  As long as no store can give the user a refund and cancel the moneypak, anyway!

EDIT:  I would also be wary of refund requests made here:  https://www.moneypak.com/RefundRequest.aspx

If they can prove they purchased the moneypak, and began a refund request after someone else had added those funds to their paypal account, would the service outright deny them the refund?  Or would they withdraw the funds from the paypal account and refund the original purchaser?

Maybe I'm unfair, but anything to do with Paypal is very sketchy in my books. I am investing a lot of time trying to avoid any PP connection at all!!

Its just gotten to the point where I don't trust anything that touches paypal.

Wise words indeed.

http://www.squidoo.com/fbi-moneypak-virus

You can only freeze the funds of the person who reedemt the MP. If he scammed you offcourse, always talking if you have a legit MP with receipt.

Is Paypal the only way to redeem a MoneyPak? Or are there other ways?

Looks like I can add a MP code to my Walmart Money card... cool!  8)

https://www.moneypak.com/WhoAccepts.aspx

I've personally taken about 10+ MoneyPaks, and the more you talk to the person the better idea you get of what their intentions are. Sometimes people are hard to read, but I haven't been scammed for 5 years, ever since I started using the internet for trading.  So what you should be thinking is how can you prove that the MoneyPak is paid with in cash, not if you're going to get scammed or not. When I do a trade, I automatically weigh their amount of reputation, with the amount of the trade, with the amount of chance that the payment can be charged back; then factor in possible changes-of-heart. It hasn't failed me for five years. I've probably traded close to $90,000 all together.

Nope, they are alot of sites.

You cant use a credit or debit card has to be cash.

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.

Please keep these 7 tips in mind when using MoneyPak. Green Dot is not responsible for the quality or non-receipt of any goods or services you buy using your MoneyPak.
https://www.moneypak.com/ProtectYourMoney.aspx

You can.

https://i.imgur.com/WMGWM.jpg

You just makin shit up? It says on the receipt payment declined

http://i47.tinypic.com/315e4i0.png

Selective blindness? SCROLL DOWN 5 lines!

MoneyPaks are refundable, I heard some places let you refund, but not all.

PayPal are the biggest waste of space in the world!

That receipt says payment declined due to reason F7. 

Possibly:
http://support.paperlesstrans.com/PaymentechResponseMessages.pdf
F7 Account Frozen Error Cust.