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Author Topic: Beware of PayPal and other reversible transfer services  (Read 243524 times)
LoWang
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December 24, 2013, 08:53:42 PM
 #141

I'm quite puzzled. So how can I buy bitcoins safely without linking my bank account to trade websites like bitcon.de?
What problem do you see in bitcoin.de? There is no "linking" with your bank account. They cannot make money transfers without your action so I see no risk there.
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testbug
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December 26, 2013, 10:17:06 AM
 #142

So guys,

i was looking many hours now for a real paypal / btc exchange. sadly i wasnt able to find any yet.

on the paypal page i checked their allowed items to be sold, and it is saying that other currencies are not allowed to be payed via paypal or ebay.

on the other hand, they are saying, buyers/seller protection isnt available to digital goods.

Could someone explain this too me?

Nice free BTC faucet with game: http://freebitco.in/?r=1721953
hostmaster
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December 31, 2013, 07:37:33 PM
 #143

Nice post, I cant emphesize enough the importance. i have had many time from paypal and payza for chargebacks, it's not really business i have seen many incidents which ending i have to obey dicipline of paypal. As a seller gave me no change then refund. But thanks Bitcoin frauders are losers!
 
shinjikenny123
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January 01, 2014, 10:54:10 AM
 #144

I noticed that paypal charges you a fee when your account is funded from a credit card and send a personal payment.
Does the one receiving the payment gets charged too?

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giletto
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January 01, 2014, 11:08:14 AM
 #145

No, personal payment has only fee on the sender side, not for the receiver.
stex2009
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January 01, 2014, 06:41:04 PM
 #146

Selling cryptos on Ebay/Paypal and avoiding chargebacks ..

Clearly there is no perfect procedure from a sellers viewpoint;
but what are your thoughts about this method ..

1) Keep single auction dollar amounts under $500.00
2) Require a 'verified' payPal account
3) Require a minimum feedback score and or recent ebay activity level
4) Following PayPal's confirmation of payment from buyer
5) Send 1% of value of transaction to Buyer's wallet address
6) Require buyer to e-mail you upon receipt of the 1%
7) Send the balance 99% of transaction after receipt of confirmation e-mail

Buyer can still institute a chargeback after the 'sale', but I believe
PayPal would side with the seller if the above procedure is followed ..

Any thoughts ??

Triff ..
Could work in some cases. I have done that myself. Buyers will still try to charge back though.
giletto
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January 02, 2014, 05:10:43 AM
 #147

You can try it, and turn it on this way or on that way and do what ever you want over paypal: if the buyers intention who pay with paypal is to defraud you, he can do it with 100% success. No matter what you are doing, send first 1% and then 99%, or sen 50% and 50% or the full amount 100%. If the buyers intention is to defraud you, he can and he will do it within 45 days (paypal amount) or within 180 days (Creditcard payment over paypal)

And paypal will ALWAYS return the money, no exception!
stex2009
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January 02, 2014, 03:50:52 PM
 #148

You can try it, and turn it on this way or on that way and do what ever you want over paypal: if the buyers intention who pay with paypal is to defraud you, he can do it with 100% success. No matter what you are doing, send first 1% and then 99%, or sen 50% and 50% or the full amount 100%. If the buyers intention is to defraud you, he can and he will do it within 45 days (paypal amount) or within 180 days (Creditcard payment over paypal)

And paypal will ALWAYS return the money, no exception!
Completely agree.
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January 03, 2014, 03:53:21 AM
 #149

There used to be a way to make sure the funds came from a bank account rather than credit card. I'm not sure if those methods are still around. It's been a long time.

https://twitter.com/virtualfaqs
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giletto
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January 03, 2014, 06:04:24 AM
 #150

There used to be a way to make sure the funds came from a bank account rather than credit card. I'm not sure if those methods are still around. It's been a long time.
Don't get the point what you mean. With Paypal are only 2 way to pay instant, via fund on your paypal and via credit card. From bank account you can't pay, the payment will me "Pending" until the amount is on your Paypal.
gump
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January 04, 2014, 11:01:53 PM
 #151

Found this thread through a search.

I was recently bitten by PayPal after the sale of BTC.  As the result, they reversed the transaction, and are now after me for a negative balance.

From what I understand, they told the buyer that although no laws were broken, they considered it a currency exchange and they put him in a bind, too.

PayPal seems to be acting as a regulator in a matter that isn't regulated.   Further, eBay being the parent company of PayPal, currently (as of today) allows the sale of LTC and BTC -- I've even bought some a while ago.   A recent interview with PayPal's President, David Marcus, says he doesn't believe Bitcoin is a currency (and it legally is not).

I'm not a lawyer, but there appears to be a lot of potential conflict here.   I would be interested in other's detailed experiences with PayPal in this type of scenario - what happened, how did you resolve it, did you go to court, etc.    Google is rife with legal case data against PayPal and stories of how they try to play the system with their lawyers.


Thanks! (and Happy New Year)
Rycco
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January 06, 2014, 06:36:18 PM
 #152

Is Skrill reversible? Does anyone knows?

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January 07, 2014, 03:36:30 AM
 #153

Does anyone here use Akimbo?  I confirmed they don't do chargebacks, but I haven't found anyone selling cryptocurrencies for it.  They're also cryptocurrency friendly, unlike Paypal.

https://akimbocard.com/

http://community.akimbocard.com/akimbo/topics/can_akimbo_to_akimbo_transfers_be_contested_or_charged_back
joenobody211
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January 10, 2014, 07:45:44 AM
 #154

Is google wallet considered a safe method? i was considering checking it out if people are willing to accept it
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January 10, 2014, 12:46:34 PM
 #155

Is Skrill reversible? Does anyone knows?
I am using this for last 2 years and have never this issue and I think its not reversible you can use this easily and safely

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January 10, 2014, 12:47:24 PM
 #156

Is google wallet considered a safe method? i was considering checking it out if people are willing to accept it
if its working for all and users can use this easily then its good start and as you do this then post here your feed back for others also

FireBTC
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January 10, 2014, 08:59:07 PM
 #157

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.
KWH
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January 10, 2014, 09:04:13 PM
 #158

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

All you have to do is claim you were hacked. Toss in payment via CC and it's a lock you can do a charge back.

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
stex2009
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January 10, 2014, 09:35:44 PM
 #159

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.
Not 100% safe in my experience.
giletto
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January 11, 2014, 06:24:12 AM
 #160

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

All you have to do is claim you were hacked. Toss in payment via CC and it's a lock you can do a charge back.
Exactly like that, and in this case it dosn't matter what you note, the money will return to the sender account 100% sure.
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