Beware of PayPal and other reversible transfer services

[bitcoin1992]

I wish it was easier to buy btc with paypal. Scammers ruined it

[1713883239]

1713883239

[1713883239]

1713883239

[deisik]

Why is Bank Transfer not safe? It cannot be reversed as once the money is sent to the bank, it cannot be chargedback.

Chargeback is applicable to anything credit/debit card funded and bank transfer. In simple, chargeback is applicable to almost all fiat transactions.

https://www.google.com/search?q=chargeback+bank+transfer

It is so, but this doesn't in the least guarantee that you will succeed with the chargeback. The only time I requested it, I had to provide all the info to my bank regarding the purchase I wanted to cancel, that is confirmation that the seller hadn't fulfilled his obligations (the reason for chargeback)...

And yes, I got my money back in the end

[hangar18]

I dislike Paypal, but I can't drop them until I have a similar replacement.

[Ganymede]

and do not share your e-mail address listed in paypal account, it is very dangerous

Why is it dangerous? I'd really like to know.

[Clint]

This is very useful, even though I'm not a newbie at this, I'm still not aware of scams like these. I will pay attention from now on, good to know. 

[RappelzReborn]

I don't see Payza on the list and I'am planning to start using it since I got limited by Paypal , so anyone can confirm that Payza transaction are irreversible    

[agustina2]

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

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

thanks for enlighment.. how about ebay? they only accept paypal.. i need advice.. never sell in ebay before.. thanks

[oxiyusuf]

I don't see Payza on the list and I'am planning to start using it since I got limited by Paypal , so anyone can confirm that Payza transaction are irreversible    

I think all the payment methods could be considered "safe", things that happen as usual banned or otherwise caused by the negligent user, verifying not account correctly and most importantly is that do not violate the ToS that has been set such payment methods

[thebigtalk]

Paypal has been a d*ck to me lately. They wanted me to wait for 21 days to remove the hold on my account. What the hell? I wonder if people would still go for paypal after all the BS they have right now,

[oHnK]

Neteller is reversible?

[dHe_zHiq]

Neteller is reversible?

You can read it on here, but yeah, i don't like neteller anyway 
https://member.neteller.com/document/show

10. CHARGEBACKS, NEGATIVE BALANCES AND REFUNDS

10.1 If you Deposit funds into your Account and then authorise a Payment or Withdrawal of those funds, you agree that you will not charge back, cancel, reverse or de-authorise the payment method used to make that Deposit.

10.2 Without limiting our rights or remedies, if you do charge back, cancel, reverse or de-authorise a payment in such circumstances, you are responsible for refunding the payment to us. We may, at our discretion, recover the amount by reducing your Account balance, re-charging your credit card or bank account for the amount or otherwise collecting such amount from you.

10.3 If a negative balance is created in your Account (e.g. due to a chargeback, reversal of a Deposit, or a Transaction is processed for a larger amount than the amount of available funds in your Account) or if you cause your Account to go into a negative balance for any other reason, you will be required to repay such negative balance by uploading sufficient funds into your Account to bring it back to at least a zero balance. Your failure to do so is a breach of these Terms of Use. You agree to pay us the outstanding amount immediately on demand. We reserve the right to automatically debit such outstanding amount from any Deposits you subsequently make to your Account. We shall be entitled to charge you for any reasonable expenses we incur as a result of any negative balance on your Account.

10.4 We reserve the right, at any time, to send you reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge you the expenses we reasonably incur in connection with any such debt collection or enforcement efforts. This provision shall survive termination of the relationship between you and us.

10.5 If you receive a refund for purchases made with your Card, the refund will be paid to your Account. For legal reasons, you are not entitled to receive refunds in cash for Transactions made using your Card. Refunds may take up to 30 days to process.

10.6 We accept no responsibility for the goods or services you purchase using the NETELLER Service. All such disputes must be addressed directly with the Merchant providing the relevant goods or services. Once you have used the NETELLER Service to make a purchase, we are unable to stop that Transaction. However, where you have used your Card to buy goods or services you may have a claim against the Merchant if the goods or services are unsatisfactory, not supplied, supplied only in part or do not match the supplier’s description. You must notify us of any dispute within 60 days of the purchase and the chargeback will only be applied to your account if successfully secured from the merchant through MasterCard; MasterCard and not us will determine who will win the chargeback. If you wrongly make a chargeback claim, we will be entitled to charge you any fees we reasonably incur in pursuing the chargeback claim and we will be entitled to debit your Account with the amount of any such fees.

[goodway]

nice thread...for helping bitcoiner.

[alpesh102]

Paypal has been a d*ck to me lately. They wanted me to wait for 21 days to remove the hold on my account. What the hell? I wonder if people would still go for paypal after all the BS they have right now,

loss your money u in paypal?

[webdeveloper5050]

Very Great Post.. Trusting is hard when you do not know the person.

[MR1]

Is Payeer (https://payeer.com/en/) reversible? Any feedback?

[n2004al]

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)

True but Paypal is an irreplaceable tool to buy bitcoins for someone who want to have some. No one can reverse the payment because everything is made by me in person. From my PayPal account. And remember that PayPal is the most widespread processor in the world. In my country is the only processor that allow me to buy bitcoins.

[rafanadal]

 sadly , there's no other way for me
and i am finding it real hard to gain any trust points
cuz no one would trade with a newbie in the first place 

[lady Royal]

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)

thanks .. A good point to be keep in mind ..

i wonder isn't there any way to stop this reverse transaction..

[bitcoinboy12]

sir where can i buy bit coin via paypal? do you have any idea on where the site for buying bitcoins???

[OmegaStarScream]

sir where can i buy bit coin via paypal? do you have any idea on where the site for buying bitcoins???

Yes there is Virwox.com which you can buy Bitcoins using your Paypal account , Credit card , Skrill , Paysafecard , Ukash and a lot of other payment methods that they are not accepted else where .
If you want lower fees then you check the currency exchange (this section) and trade with people (they are not going first with you because you are a Newbie) so the website may be a better choice .