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Author Topic: Beware of PayPal and other reversible transfer services  (Read 243609 times)
Muhammed Zakir
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August 06, 2014, 05:23:44 PM
 #281

In 6 years never had a bad experience. From my point of view they are totaly trustable.

We aren't telling that paypal isn't trustable. We told that, person who send you paypal money can be taken back by them easily. So you will loose both BTC/cryptos and money. Anyway if you want to sell, try to withdraw money into bank account as fast as possible, best to withdraw instantly after you get. But there is a likely chance to lose the same amount of money you got from the person, if he reports. Sad
Kindly,
     MZ

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August 07, 2014, 06:13:25 PM
 #282

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

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August 07, 2014, 06:19:40 PM
 #283

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

Absolutely not, because he can claim his account was "hacked" and the "hacker" included that message.

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August 07, 2014, 06:35:32 PM
 #284

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

Absolutely not, because he can claim his account was "hacked" and the "hacker" included that message.
Was sort of thinking along the same lines sadly.  Ok, I appreciate the help.  Can 'gifted' transactions be reversed for the same reason then essentially?

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August 07, 2014, 06:36:54 PM
 #285

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

Absolutely not, because he can claim his account was "hacked" and the "hacker" included that message.
Was sort of thinking along the same lines sadly.  Ok, I appreciate the help.  Can 'gifted' transactions be reversed for the same reason then essentially?

Gift payments can be reversed. Leaving a comment won't help at all... they can always claim identity was stolen and paypal account was hacked.
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August 07, 2014, 06:38:55 PM
 #286

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

Absolutely not, because he can claim his account was "hacked" and the "hacker" included that message.
Was sort of thinking along the same lines sadly.  Ok, I appreciate the help.  Can 'gifted' transactions be reversed for the same reason then essentially?

Gift payments can be reversed. Leaving a comment won't help at all... they can always claim identity was stolen and paypal account was hacked.
I have very bad experience with this gift payment so I will advice never do any business with paypal I lost my 2 btc

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August 07, 2014, 06:40:06 PM
 #287

Quick question.  I have a buyer interested in purchasing some BTC for paypal.  He is willing to do the whole ID thing but just wondering...if he where to enter in the comments section of his paypal payment that the transaction is irreversible would this protect me against a potential chargeback down the road?

Absolutely not, because he can claim his account was "hacked" and the "hacker" included that message.
Was sort of thinking along the same lines sadly.  Ok, I appreciate the help.  Can 'gifted' transactions be reversed for the same reason then essentially?

Gift payments can be reversed. Leaving a comment won't help at all... they can always claim identity was stolen and paypal account was hacked.
I have very bad experience with this gift payment so I will advice never do any business with paypal I lost my 2 btc
Really appreciate the feedback fellas.  Long and short of it: unless you REALLY trust the person your selling too paypal is a no-go!  Thanks for saving me some potential heart-ache guys!

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clubminer
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August 09, 2014, 02:00:42 PM
 #288

paypal always defend the sender of money.  Cry

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August 10, 2014, 12:00:13 AM
 #289

paypal always defend the sender of money.  Cry

This is true although I've also lost when I was clearly in the right.

I have used paypal to pay for BTC a few times but it is very risky for the BTC seller.

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August 10, 2014, 10:16:38 PM
 #290

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?
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August 10, 2014, 10:25:38 PM
 #291

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?

Yes. It has been done between BCB and danieldaniel.

ΜΟΛΩΝ ΛΑΒΕ! I sell stuff for BTC here here and here | Skirt & Kilts & Violin For Sale | Voiceover for BTC | Copy editing for BTC | THE Bitcoin Sound is here.
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August 10, 2014, 10:53:09 PM
 #292

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?

Yes. It has been done between BCB and danieldaniel.
Dang.

Thoughts on MoneyGram?
montello
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August 11, 2014, 11:34:47 AM
 #293

http://thebitcoinsun.com/post/2011/06/05/The-Paypal-Problem

For a more detailed explanation of why paypal is bad, read that Wink

Check this link to get a better overview of paypal it's worth it believe me.

Muhammed Zakir
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August 11, 2014, 05:08:06 PM
 #294

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?

Yes. It has been done between BCB and danieldaniel.
Dang.

Thoughts on MoneyGram?

MoneyGram is like PayPal too. It is reversible and thus always protect senders. See http://ecrimeexpertblog.wordpress.com/2011/09/30/exposing-how-scammers-use-western-union-and-moneygram-for-fraud/ for detailed explanation.

Kindly,
       MZ

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August 11, 2014, 05:40:46 PM
 #295

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?

Yes. It has been done between BCB and danieldaniel.
Dang.

Thoughts on MoneyGram?

MoneyGram is like PayPal too. It is reversible and thus always protect senders. See http://ecrimeexpertblog.wordpress.com/2011/09/30/exposing-how-scammers-use-western-union-and-moneygram-for-fraud/ for detailed explanation.

Kindly,
       MZ

Moneygram is not like paypal. How are you going to reverse the transaction after the cash has been picked up?
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August 11, 2014, 07:45:03 PM
 #296

How are MoneyPaks unsafe? If they buy with cash and I fund my green dot re loadable visa with it, can it be reversed?

Yes. It has been done between BCB and danieldaniel.
Dang.

Thoughts on MoneyGram?

MoneyGram is like PayPal too. It is reversible and thus always protect senders. See http://ecrimeexpertblog.wordpress.com/2011/09/30/exposing-how-scammers-use-western-union-and-moneygram-for-fraud/ for detailed explanation.

Kindly,
       MZ

Moneygram is not like paypal. How are you going to reverse the transaction after the cash has been picked up?
Yeah exactly. Once the cash is picked up, there's nothing else to do right?
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August 20, 2014, 03:02:33 AM
 #297

What about west union?
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September 02, 2014, 10:17:01 PM
 #298

Got scammed by member clubminer. Wanted to buy with neteller. Beware trading with him!

https://bitcointalk.org/index.php?topic=699253.msg8645387#msg8645387

Regards adriano1212
daniahya
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September 03, 2014, 04:31:06 AM
 #299

paypal best payment  Grin

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September 03, 2014, 07:23:55 AM
 #300

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

Yeah, online transfer service is not 100% safe, and that's why we need to protect our own privacy!
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