Possible problem with paypal limiting my account after selling on LBC

[cmoltisanti]

I have made maybe 5-6 transactions on LBC in the last week.  Paypal has now limited my account, asked for documentation and asked what the money coming in was for.  I need some advice.

Is selling btc and accepting paypal against their TOS?
If so what is the best thing to tell them with regard to the nature of the transactions?


I am banned from circle and coinbase (for gambling transactions) is there there a third good option to sell bitcoins?

[1714657551]

1714657551

[1714657551]

1714657551

[sardasa]

I have made maybe 5-6 transactions on LBC in the last week.  Paypal has now limited my account, asked for documentation and asked what the money coming in was for.  I need some advice.
Is selling btc and accepting paypal against their TOS?

Yes.

If so what is the best thing to tell them with regard to the nature of the transactions?

You made a mistake. Now, admit it & see what they say. No point of lying to them. They're going to know sooner or later. If amount in your account is not much then just forget the amount as they're most probably going to permanently limit you.

I am banned from circle and coinbase (for gambling transactions) is there there a third good option to sell bitcoins?

There are many options depending upon your country & payment processor you want payment in.
You gotta be more specific here in case you need more specific inputs.

[cmoltisanti]

USA, i would prefer something with ACH to bank like CB/Circle but am flexible.

[sardasa]

USA, i would prefer something with ACH to bank like CB/Circle but am flexible.

Maybe sell for Skrill/Neteller & then withdraw them to your bank.

[amacar2]

Maybe sell for Skrill/Neteller & then withdraw them to your bank.

I have sold bitcoin for skril before in LBC but got blocked by them. Don't know why they block me, i think skrill also don't like to deal with bitcoin transactions, anyone knows more about using skrill for bitcoin. Neteller could be solution, they also have deposit option with bitcoin.

[morantis]

they are limiting you to make sure that you are not stealing money, it has nothing to do with the type of transactions

[Gravifaction]

PayPal has updated their policy; they now cover intangible transactions such as BTC.

[morantis]

PayPal has updated their policy; they now cover intangible transactions such as BTC.

they always did

[KardinaL]

PayPal has updated their policy; they now cover intangible transactions such as BTC.

Can you link to news or something about this, because I wasn't able to find.
However, Coinbase now accept PayPal as payment method for US only.

[davis196]

I have made maybe 5-6 transactions on LBC in the last week.  Paypal has now limited my account, asked for documentation and asked what the money coming in was for.  I need some advice.

Is selling btc and accepting paypal against their TOS?
If so what is the best thing to tell them with regard to the nature of the transactions?


I am banned from circle and coinbase (for gambling transactions) is there there a third good option to sell bitcoins?

I guess you`ve made a mistake.

Never mention bitcoin in any paypal invoice or payment request and you`ll be fine.

The people sending you money via pp should never mention bitcoin in their paypal payment emails.

I was selling btc for paypal on localbitcoins and never had any problem.

Provide the asked documentation and never admit that you were trading bitcoins.

[erikalui]

It's possible that somebody reported those transactions or they must have checked the email IDs that have sent you payments. You can submit your ID proof as that will help you to recover your funds from PayPal after the limit is removed. You can try stating that you had transactions for a freelance job. Also, no payment processor allows trades/exchanges and they have their own exchanges that we need to use. Best way is to either sell on this forum or use their exchange websites to buy/sell bitcoins.

[Whosdaddy]

I have made maybe 5-6 transactions on LBC in the last week.  Paypal has now limited my account, asked for documentation and asked what the money coming in was for.  I need some advice.
Is selling btc and accepting paypal against their TOS?

Yes.

If so what is the best thing to tell them with regard to the nature of the transactions?

You made a mistake. Now, admit it & see what they say. No point of lying to them. They're going to know sooner or later. If amount in your account is not much then just forget the amount as they're most probably going to permanently limit you.

I am banned from circle and coinbase (for gambling transactions) is there there a third good option to sell bitcoins?

There are many options depending upon your country & payment processor you want payment in.
You gotta be more specific here in case you need more specific inputs.

Can't one recover funds from a limited PayPal account once you send them the documents they require?
Also, it's not possible if someone reports our email address unless they have no proof that we are dealing on LBC. It is possible to remove the limit if they can't find proof of our bitcoin transactions.

[Fortify]

Paypal can terminate or suspend your account for whatever reason they deem fit. They may allow you to trade "under the radar" for a while with small amounts, but if anyone you trade with gets flagged or causes problems like chargebacks then your account will get investigated. Under "Know Your Customer" laws they have to try and understand what the transactions are doing, to prevent stuff like money laundering.

[ramzifcb48]

Never mention bitcoin in any paypal invoice or payment request and you`ll be fine.

[Supercrypt]

Maybe sell for Skrill/Neteller & then withdraw them to your bank.

I have sold bitcoin for skril before in LBC but got blocked by them. Don't know why they block me, i think skrill also don't like to deal with bitcoin transactions, anyone knows more about using skrill for bitcoin. Neteller could be solution, they also have deposit option with bitcoin.

I also traded with my Neteller account on LBC and they locked it asking me for some information. Once I gave them the information, my account was reactivated and now I deal without any issues. I don't get why others have an issue. Neteller's bitcoin depost option is the best.

[Cresciuanto]

i think it is not for the first time i am hearing about the complaint about PayPal. actually PayPal is not a reliable money transfer  agency. it is a regional agency and is also banned by so many countries. i think you have so many other option to send your money which are more reliable and trustable in all sense.

[beerlover]

I don't think it's an issue with LBC.

I've also had many trades on LBC last year and my PayPal account is still active. It's the issue if you keep have too many trades in a short span of time and you can just tell PayPal that you are transacting with people who buy your goods.