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Author Topic: Beware of PayPal and other reversible transfer services  (Read 657859 times)
lewisrafael40
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June 21, 2018, 08:54:39 AM
 #761

Have been using PP for more than 10 years and see there nothing to beware of. Yet, thanks for the advice.
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jessica2020
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July 05, 2018, 01:27:44 AM
 #762

Thank you for the info Theymus. It will help us to avoid scammers in our transactions. Theres a lot of way that scammers could do, so we need to be more wiser than them.
mekie
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July 18, 2018, 08:51:21 PM
 #763

Charge back issues are not just a problem for crypto traders, it is a big problem for basically anyone who takes card payments. I know of a case where a software company providing back office work for a number of MLM companies (payment, admin etc) lost a  7 figure sum when the banks decided not to pay the retained money in the accounts.

I would advise against using any transfer service that allows chargebacks unless you know the other party very very well indeed.

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moneyafric
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July 25, 2018, 07:34:01 PM
 #764


I am trying to sell LTC for the first time. I have accounts on bct-e and vircurex but I am not understanding how the usd I get from selling gets into my bank account. can someone point me in the right direction? I am having a hard time finding a post about this but there has to be one.

thanks
OmegaStarScream
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July 25, 2018, 07:55:51 PM
 #765


I am trying to sell LTC for the first time. I have accounts on bct-e and vircurex but I am not understanding how the usd I get from selling gets into my bank account. can someone point me in the right direction? I am having a hard time finding a post about this but there has to be one.

thanks

BTC-E closed and re-opened as Wex.nz. I'm not sure of your question but the procedure is simple (assuming that they support that), the exchange send you fiat to your bank account in exchange of your LTC or BTC.

As for Vircurex, I never heard of the exchange but after some searching, It seems like they have a class-action lawsuit against them and they are not longer operating.

celeNG666
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July 26, 2018, 10:02:39 AM
 #766

Im not really use that kind of services... but thanks for the information... Im really apreciated it  Wink
Giardesano
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July 27, 2018, 10:38:24 AM
 #767

Is Circle Pay a reversible transfer service?
MadGamer
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July 27, 2018, 12:53:04 PM
 #768

Is Circle Pay a reversible transfer service?

Just like the Neteller, Skrill and the rest of payment methods. If the account was funded using crypto, no, otherwise yes. I suggest reading the full User agreement so you know what you're getting yourself into:

Quote
Once a bitcoin transaction has been initiated, it cannot be reversed. Deposits using a bank account, debit card, or credit card may be reversed or may be subject to a chargeback or related claim.

vutienthanh
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July 30, 2018, 05:50:29 PM
 #769

This is why the ecommerce model, Shopify online shopping needs to have Paypal presence in the payment. To assist shoppers with the safest level possible. And that is why PayPal is still in the limelight even as Bitcoin is gaining market share. PayPal does not seem to lose its value. But PayPal users must know the big disadvantage of PayPal with the current user is the problem Limit. Unfortunately, you will need to withdraw a certain amount of money on PayPal when this happens
Giardesano
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July 31, 2018, 08:19:08 PM
 #770

Is Circle Pay a reversible transfer service?

Just like the Neteller, Skrill and the rest of payment methods. If the account was funded using crypto, no, otherwise yes. I suggest reading the full User agreement so you know what you're getting yourself into:

Quote
Once a bitcoin transaction has been initiated, it cannot be reversed. Deposits using a bank account, debit card, or credit card may be reversed or may be subject to a chargeback or related claim.



Thanks
roccobull
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August 06, 2018, 08:58:32 PM
 #771

PayPal is definitely one of the least secure methods of payment. so much fraudulent activity every transaction has to be verified personally. Too bad we cant go back to the days where our monetary system/exchanges were completely reliable and trustworthy.
Giardesano
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August 14, 2018, 12:15:18 AM
 #772

Why is Western Union reversible?
MadGamer
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August 14, 2018, 05:52:39 PM
 #773

Why is Western Union reversible?

It's explained. I believe the reverse won't happen just because you told them, there should be a lawsuit but I believe If the transaction is worldwide, and you will get your money instantly, you should be fine.
DynamicBlockchain
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August 21, 2018, 12:09:49 PM
 #774

Good evening , this is my first post:

Paypal reverse by credit card : as the money is chargedback it can be chargedback by the legal owner of the credit card that also bought you bitcoins ( in this case Paypal can give the data of the client and a case can be opened ) or by a stolen credit card that was used to buy bitcoins ( in this case Paypal should pay as they accepted the credit card ) .

Is there any lawer who can do the work of the case and get payed only if the case is won?

Thanks



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)
_oh_no_stop_this_
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August 27, 2018, 06:14:38 AM
 #775

The best option is a personal meeting and cash-to-coins exchange. Much better than any of the services.
MadGamer
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September 07, 2018, 05:02:04 PM
 #776

I never heard that Western Union is reversible? I even tried once to return my founds, no way.

What then they other best option to use fiat to buy coins/bitcoins then?

If you pickup your funds and transactions is between other countries, I don't believe there is much that can be done.

I would just use an exchange that accept credit cards If I were you, something like Coinmama or Coinbase should do the trick.
_oh_no_stop_this_
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September 11, 2018, 05:41:58 PM
 #777

When I sell something using paypal, so many sales being reversed due to "credit card fraud" and I never get refund. That is all I get for their ridiculous fees
Alex_Zi
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October 12, 2018, 09:07:34 PM
 #778

PayPal, MoneyBookers (Skrill) is very centralized. I don't like all of it. There ae a lot of problems to use it for changing fiat to crypto and back.

PepsLove
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October 17, 2018, 01:29:38 PM
 #779

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)

I have lost 150$ at paypal for some payment of btc. They can easily create a ticket and force you to refund money back to them. PayPal can charge your credit card if you move your funds out of it. beware.
PepsLove
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October 17, 2018, 01:30:29 PM
 #780

PayPal, MoneyBookers (Skrill) is very centralized. I don't like all of it. There ae a lot of problems to use it for changing fiat to crypto and back.

skrill is even more dangerous. they can just refund the buyer and also charge you for inappropriate usage of their service. avoid!
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