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Author Topic: Beware of PayPal and other reversible transfer services  (Read 305221 times)
HukoJla
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May 21, 2018, 08:27:34 AM
 #761

I hope that people take more caution on their trades with MyCash . It's really not that secure and that safe you know .
Some SEing (Social Engineering) on your Credit Card providers is more then enough to get a refund on your MyCash and this may mean getting MyCash Canceled . (And of course this only happens if the guy bought using a Credit card).
Do you mind updating the list with more Payment methods now theymos ? thanks.
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Mazarin07
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May 29, 2018, 12:13:01 AM
 #762

Beware of PayPal?
Maybe scammers must beware of Paypal, because PP is a safe money transfer platform, where the buyer can get back his/her money if the seller didn't deliver as promised. Surely, I can understand that those who want to fish in troubled water try to avoid this service.
jordi_crypto
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June 07, 2018, 07:13:43 PM
 #763

Paypal is total rip off if you ask me. When you need them they not there. at least thats my experience.
nguyennnhatttruongazzz
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June 08, 2018, 12:45:14 PM
 #764

Everybody should be careful with their money transfers. Now that hackers and scammers are increasing with so much expertise, I think PayPal or other things are not faulted, they have tried to do Good and I trust them (PayPal) They are innocent. Please think more positively: D Thank you for the warning Smiley
700G
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June 12, 2018, 07:22:51 PM
 #765

Well, this is news to me and good to know. Thank you!

Learning, always learning!

I've done a good bit of business thru Paypal, luckily have not yet had this problem.
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June 13, 2018, 06:32:03 AM
 #766

Exchange of currencies become a major problem for the Currencies holder because in some countries they are banned and currencies holder invest their most of the money on it.

Blockchain transactions are not reversable while paypal transactions are ...Beware of PayPal and other reversible transfer services. So before trading BURST/FIAT this way ensure the person offering can prove any reputation or escrow.

PayPal is a favorite tool for sending and receiving money online. It is one of the oldest services available, but whenever you link your financial accounts to an online service, security should be at the top of your mind. So how safe is PayPal?

For the most part, it’s safe to use the service and link accounts to PayPal, but it ultimately depends on what your concerns are.

Buyers will find that PayPal is an easy and secure way to make purchases.

Sellers can also benefit from using PayPal, but there are risks to be aware of. Those risks aren’t unique to PayPal, but some sellers are unaware of potential problems.

What happens if somebody spends money from your PayPal account without your permission, or if you pay for an item that never arrives?


Buyer Protection: PayPal’s Buyer Protection and Account Protection programs might reimburse you. To take advantage, you need to report the transaction quickly, but Buyer Protection does not cover all transactions. Buyer Protection is similar to the benefits you get with a credit card: You can reverse the charges if the seller fails to deliver what was promised.

Before you rely on Buyer Protection, read PayPal's policies to ensure that the service is available for any payment that you're concerned about. Some transactions are not eligible.
sarata15
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June 19, 2018, 11:14:40 AM
 #767

Exchange of currencies become a major problem for the Currencies holder because in some countries they are banned and currencies holder invest their most of the money on it.

Blockchain transactions are not reversable while paypal transactions are ...Beware of PayPal and other reversible transfer services. So before trading BURST/FIAT this way ensure the person offering can prove any reputation or escrow.

PayPal is a favorite tool for sending and receiving money online. It is one of the oldest services available, but whenever you link your financial accounts to an online service, security should be at the top of your mind. So how safe is PayPal?

For the most part, it’s safe to use the service and link accounts to PayPal, but it ultimately depends on what your concerns are.

Buyers will find that PayPal is an easy and secure way to make purchases.

Sellers can also benefit from using PayPal, but there are risks to be aware of. Those risks aren’t unique to PayPal, but some sellers are unaware of potential problems.

What happens if somebody spends money from your PayPal account without your permission, or if you pay for an item that never arrives?


Buyer Protection: PayPal’s Buyer Protection and Account Protection programs might reimburse you. To take advantage, you need to report the transaction quickly, but Buyer Protection does not cover all transactions. Buyer Protection is similar to the benefits you get with a credit card: You can reverse the charges if the seller fails to deliver what was promised.

Before you rely on Buyer Protection, read PayPal's policies to ensure that the service is available for any payment that you're concerned about. Some transactions are not eligible.

Thank you
In the era of the development of high technology and the use of blockchain with payment systems such as PayPal, one must take into account all possible barriers and conditions for the exchange or acceptance of the btc.
Useful information for beginners.







lewisrafael40
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June 21, 2018, 08:54:39 AM
 #768

Have been using PP for more than 10 years and see there nothing to beware of. Yet, thanks for the advice.
jessica2020
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July 05, 2018, 01:27:44 AM
 #769

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
 #770

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
 #771


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

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July 25, 2018, 07:55:51 PM
 #772


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
 #773

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
 #774

Is Circle Pay a reversible transfer service?
MadGamer
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July 27, 2018, 12:53:04 PM
 #775

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
 #776

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
 #777

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
 #778

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
 #779

Why is Western Union reversible?
MadGamer
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August 14, 2018, 05:52:39 PM
 #780

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.

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