Irreversible payment methods? Protection for sellers advice needed

[very_452001]

Im from UK and like to start trading on localbitcoins.com

Is direct cash deposit into a bank account reversible? Also what about cash by mail?

Is there any online payment method apart from bitcoin that is truly Irreversible?

If you are trading with people who are located from within your country why not open a bank account with the biggest and most popular bank and accept only over the counter payments that can be made by making the deposit in your bank account. I am sure branch to branch deposits are allowed in your country. All the buyer needs is your name and bank account.

I read stories on forums where direct cash bank deposits can be reversed.

The buyer could say he was forced into making the deposit and hence the bank can reverse it for the buyer.

Then it would be a good thing to ask your bank, that has the account intended for your Bitcoin trades, if they do allow the reversal of over the counter deposits. As far as I know they are not allowed because that raises a lot of opportunities for fraudulent behavior.

Banks in UK are not bitcoin friendly. Any other suggestions?

[Serpens66]

the only good suggestion is to not trade with anyone you do not trust.
There is no secure way to trade with unknown people.

[Wind_FURY]

Im from UK and like to start trading on localbitcoins.com

Is direct cash deposit into a bank account reversible? Also what about cash by mail?

Is there any online payment method apart from bitcoin that is truly Irreversible?

If you are trading with people who are located from within your country why not open a bank account with the biggest and most popular bank and accept only over the counter payments that can be made by making the deposit in your bank account. I am sure branch to branch deposits are allowed in your country. All the buyer needs is your name and bank account.

I read stories on forums where direct cash bank deposits can be reversed.

The buyer could say he was forced into making the deposit and hence the bank can reverse it for the buyer.

Then it would be a good thing to ask your bank, that has the account intended for your Bitcoin trades, if they do allow the reversal of over the counter deposits. As far as I know they are not allowed because that raises a lot of opportunities for fraudulent behavior.

Banks in UK are not bitcoin friendly. Any other suggestions?

Yes I know that. All banks are not Bitcoin friendly in case you did not know.

Have you tried using Localbitcoins before? Some of the traders there do over the counter deposits in the bank accounts of who they are trading with and vice versa. Go look into it before you close your mind on the idea.

[iram3130]

Most of the banks around the world are not "Bitcoin friendly". I have seen so many bankers having negative feelings on Bitcoin transactions.
To OP: I think you should try lavapay. It completes the transaction mostly before 24 hours and works perfect for UK.
And never do trading with people who have negative trust or who have very less history in trading.

[very_452001]

Update: Got a reply from Perfect Money and they said the address document that verifies the address stage of the account has to be signed and stamped as well wtf 

I really doubt any bank manager let alone my bank manager will give up some of his/her time to sign and stamp a bank statement.

What to do?

[veleten]

Update: Got a reply from Perfect Money and they said the address document that verifies the address stage of the account has to be signed and stamped as well wtf 

I really doubt any bank manager let alone my bank manager will give up some of his/her time to sign and stamp a bank statement.

What to do?

you will have to verify your documents copy with a notary
and he will for a small fee,verify that the copy is valid
then you send it to perfect money,it is annoying I know but these are their rules
you can also message them again and ask for clarification

[very_452001]

I messaged perfect money and they clarified that the bank statement must be signed and stamped by the bank itself only. Is there notary in the bank?

[jasonbourne212]

Yes I know that. All banks are not Bitcoin friendly in case you did not know.

Have you tried using Localbitcoins before? Some of the traders there do over the counter deposits in the bank accounts of who they are trading with and vice versa. Go look into it before you close your mind on the idea.
[/quote]




Maybe it's valid, but it seems like the people on Localbitcoins.com are absurd, (or i guess, excessive)....   Like one time I made a cash deposit into someones personal checking account at a Bank of America, they then want you to write a bunch of crap on the deposit slip as if this cash deposit of someone elses account you can now withdrawal from, but whatever, then the guy actually made me wait 24 hours for it to "clear"  hahahahahaha wtf?? 

They charge prices that are like 20% over the market price, and are about the most paranoid group of people i've ever come across,

My suggestion is, just go to a Bitcoin ATM, I'm sure theres one nearby, put the cash in, walk out with coins, the limits are usually pretty high unless you are spending a ton of money....

And you don't have to start jumping through paranoid weird stuff to pay high prices....  Thats my suggestion...  Or use Coinmama, coinbase, if your in a hurry, or the best option, any of the big exchanges.....

[very_452001]

Yes I know that. All banks are not Bitcoin friendly in case you did not know.

Have you tried using Localbitcoins before? Some of the traders there do over the counter deposits in the bank accounts of who they are trading with and vice versa. Go look into it before you close your mind on the idea.

Maybe it's valid, but it seems like the people on Localbitcoins.com are absurd, (or i guess, excessive)....   Like one time I made a cash deposit into someones personal checking account at a Bank of America, they then want you to write a bunch of crap on the deposit slip as if this cash deposit of someone elses account you can now withdrawal from, but whatever, then the guy actually made me wait 24 hours for it to "clear"  hahahahahaha wtf?? 

They charge prices that are like 20% over the market price, and are about the most paranoid group of people i've ever come across,

My suggestion is, just go to a Bitcoin ATM, I'm sure theres one nearby, put the cash in, walk out with coins, the limits are usually pretty high unless you are spending a ton of money....

And you don't have to start jumping through paranoid weird stuff to pay high prices....  Thats my suggestion...  Or use Coinmama, coinbase, if your in a hurry, or the best option, any of the big exchanges.....
[/quote]

You are confirming that over the counter cash deposits are 100% irreversible? Only cheques take time to clear so why is the seller asking you to wait 24 hours for cash to clear?

Im looking sound sound advice when it comes to selling bitcoins. Your last couple of paragraph are good advice for buying bitcoins.