Neteller - usable for BTC trading?

[2weiX]

Hi,

what with all the delays in mtgox SEPA things - can anyone recommend or argue against using neteller to buy and sell BTC?

chargebacks?
account locks when someone leaks you're dealing BTC?
loss of money?
prepaid cc (€-denominated) experiences?

thanks for your answers in advance.

[1715278367]

1715278367

[Stephen Gornick]

can anyone recommend or argue against using neteller to buy and sell BTC?

To buy?

Only one place that does that as far as I know:
 - http://en.bitcoin.it/wiki/VirWoX
 - http://www.VirWoX.com

chargebacks?

At a minimum, in cases of fraud, yes it is reversible.  But VirWoX applies its own risk management plus sufficient fees to be able to still offer that method.

To lessen your risk you can incorporate additional identification and reputation type services.  Trading with someone who has a good trust history on the #bitcoin-otc marketplace (presuming they've authenticated to it during the trade) is one way to lessen your risk should you consider selling bitcoins and accepting payment via NETeller.

 - http://www.Bitcoin-OTC.com
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://www.bitcoin-otc.com/viewratings.php

[2weiX]

hi, thanks.

i am on bitcoin-otc and localbitcoins, trading quite successfully.

I was thinking of expanding my offers to include neteller since being cut off by western union, and as they boast their "no-reverse" policy on their homepage, I would've liked to hear some experiences with their service in regards to bitcoin.

[MCM-Mike]

After asking Neteller Support they confirmed that a manual transaction can not be reversed.

 

[Trading]

It will be reversible by neteller if the account was funded with a stolen credit card. Therefore, avoid to sell bitcoins to neteller. If you are willing to take a risk, you can sell the bitcoins if the buyer is willing to wait some days for the bitcoins, since in between the real owner of the credit card probably will complain and the transaction will be canceled before you send the bitcoins.

[aceking]

btc-e.com supports neteller (for transactions over 500 usd)

[BCEmporium]

After asking Neteller Support they confirmed that a manual transaction can not be reversed.

No, Virwox no longer supports Neteller and I would advise highly against their service. The lack of transparency from their side is absurd, they take single side complaints and reverse transactions (all of them), to add injury to the pain, they will froze your account meanwhile. Neteller Support is the most stupid system in the web, they have no clue about nothing and the answer they gave you seconds this up.

Summing it up, Neteller as a service is a scam. If you intend to use this sort of services, and even if the risk is equally very high, try Skrill.

[TwinWinNerD]

Hi,

what with all the delays in mtgox SEPA things - can anyone recommend or argue against using neteller to buy and sell BTC?

chargebacks?
account locks when someone leaks you're dealing BTC?
loss of money?
prepaid cc (€-denominated) experiences?

thanks for your answers in advance.

Neteller hates bitcoin.

They allow chargebacks, if the other account was funded by stolen credit cards. Pretty much if you allow net transfers from newbs, you will be getting scammed 90% of the time.

(I have had many chargebacks )