Beware of PayPal and other reversible transfer services

[nwfella]

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?

[TheButterZone]

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.

[nwfella]

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?

[xetsr]

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.

[faiza1990]

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

[nwfella]

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!

[clubminer]

paypal always defend the sender of money. 

[Vlad2Vlad]

paypal always defend the sender of money. 

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.

[iWin]

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

[TheButterZone]

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.

[iWin]

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]

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

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

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

[Muhammed Zakir]

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

[xetsr]

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?

[iWin]

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?

[srt1234]

What about west union?

[adriano1212]

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]

paypal best payment 

[worldcup]

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!

[bankvcc]

Be careful and accept paypal only with an escrow and sent as a gift or family.