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Title: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: greentech2 on July 16, 2020, 02:53:15 AM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo.
Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: hugeblack on July 17, 2020, 12:06:55 PM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo. Zelle/Venmo/PayPal are all reversible payment methods, so dealing with them will be dangerous. If you send Bitcoin (ir-reversible) and accept Zelle/Venmo/PayPal, you bear the risk that the other party will not reverse the transaction, so it is better to do it with trusted people and you avoid doing that with untrustworthy people. Good part: You can do business with anyone and you do not need to be trusted or have an old deals record. Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: anonymousminer on July 17, 2020, 01:49:58 PM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo. You are not an exchange and not licensed as such in the US so the simple answer is no, you can not act as an exchange! Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: buckrogers on July 17, 2020, 05:39:08 PM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo. Zelle/Venmo/PayPal are all reversible payment methods, so dealing with them will be dangerous. If you send Bitcoin (ir-reversible) and accept Zelle/Venmo/PayPal, you bear the risk that the other party will not reverse the transaction, so it is better to do it with trusted people and you avoid doing that with untrustworthy people. Good part: You can do business with anyone and you do not need to be trusted or have an old deals record. It was my understand that Zelle is NOT reversible, can you show any proof on the contrary? thanks! Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: OgNasty on July 17, 2020, 08:32:04 PM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo. You are not an exchange and not licensed as such in the US so the simple answer is no, you can not act as an exchange! This is not true. There are acceptable limits that individuals are allowed to trade. However, knowingly assisting with money laundering or the purchase of illegal goods will end up getting you jailed. Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: suchmoon on July 17, 2020, 11:31:59 PM It was my understand that Zelle is NOT reversible, can you show any proof on the contrary? https://www.zellepay.com/pay-it-safe/understanding-fraud-and-scams Quote If someone gained access to your bank account and made a payment with Zelle® without your permission, and you weren’t involved in any way with the transaction, this is typically considered fraud since it was unauthorized activity. If someone gained access to your account, and stole money or sent it without your permission, this could be defined as fraud. Immediately report suspected unauthorized activity to your financial institution. Because you did NOT authorize a payment, you are typically able to get your money back after reporting the incident. Given that Zelle transfers require 2FA (at least the ones I've had to deal with) it wouldn't be easy to claim "I was hacked" but I'm sure scammers will find a way. Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: anonymousminer on July 18, 2020, 01:59:59 PM I think with Zelle the buyer can call to the bank and reverse the money. I am not sure about Venmo. You are not an exchange and not licensed as such in the US so the simple answer is no, you can not act as an exchange! This is not true. There are acceptable limits that individuals are allowed to trade. However, knowingly assisting with money laundering or the purchase of illegal goods will end up getting you jailed. What are these acceptable limits you speak of? Please provide proof of these acceptable limits. Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: FFrankie on August 19, 2020, 09:34:36 PM It was my understand that Zelle is NOT reversible, can you show any proof on the contrary? https://www.zellepay.com/pay-it-safe/understanding-fraud-and-scams Quote If someone gained access to your bank account and made a payment with Zelle® without your permission, and you weren’t involved in any way with the transaction, this is typically considered fraud since it was unauthorized activity. If someone gained access to your account, and stole money or sent it without your permission, this could be defined as fraud. Immediately report suspected unauthorized activity to your financial institution. Because you did NOT authorize a payment, you are typically able to get your money back after reporting the incident. Given that Zelle transfers require 2FA (at least the ones I've had to deal with) it wouldn't be easy to claim "I was hacked" but I'm sure scammers will find a way. If it’s over 1k and you catch it in time, my understanding is you can call the next day to cancel it because they take a few days to be sent when it’s over 1k? Title: Re: Can I sell bitcoin and accept payment by Zelle or Venmo in the US? Post by: buckrogers on August 28, 2020, 05:13:19 PM It was my understand that Zelle is NOT reversible, can you show any proof on the contrary? https://www.zellepay.com/pay-it-safe/understanding-fraud-and-scams Quote If someone gained access to your bank account and made a payment with Zelle® without your permission, and you weren’t involved in any way with the transaction, this is typically considered fraud since it was unauthorized activity. If someone gained access to your account, and stole money or sent it without your permission, this could be defined as fraud. Immediately report suspected unauthorized activity to your financial institution. Because you did NOT authorize a payment, you are typically able to get your money back after reporting the incident. Given that Zelle transfers require 2FA (at least the ones I've had to deal with) it wouldn't be easy to claim "I was hacked" but I'm sure scammers will find a way. If it’s over 1k and you catch it in time, my understanding is you can call the next day to cancel it because they take a few days to be sent when it’s over 1k? Did you just make that up? lol |