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Author Topic: Payment rejected because it doesn't meet minimum amt? Where's my money?  (Read 57 times)
snevel
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January 07, 2018, 04:31:42 AM
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Bitcoin Client Software and Version Number: Multibit HD  0.5.1
Operating System: Windows 10 64 bit
System Hardware Specs: N/A
Description of Problem:  
    Recipient of funds claims:
        "payment was sent but rejected because I have just been informed that due to bitcoin new regulations they are not allowing payments under $100.00 usd"

    Multibit HD payment details says:
        "This transaction did not pay bitcoins to any payment request"

Any Related Addresses: 1Fnodt1HrLUUYQQFqtpZJA6A2V7mR5Jtm1 (the folks I transacted with)
                                              1M7nAzEXdpL54P7rDH9G7YKXwudTPhYvci (transaction fee)
Any Related Transaction IDs: fbd3c5d5cacb697715129892851eb6c34db136423d1f31e93236791d0f6d1e64
Screenshot of the problem: https://imgur.com/a/W2zfE
Log Files from the Bitcoin Client: N/A

First off, I am now aware that Multibit HD has been deprecated and no longer being supported.  Virtually all of my BTC are in an on-line wallet, but I did this transaction before I knew that.

I sent off my payment and it appears from all that I can see that the transaction has gone through and is confirmed on 1388 blocks.

After seeing that my order was still marked unpaid, I contacted the vendor who said "payment was sent but rejected because I have just been informed that due to bitcoin new regulations they are not allowing payments under $100.00 usd".

I have asked them to return the BTC to me, but have not heard back from them yet.

My questions are:

Are there really bitcoin regulations (in general) that mandate a minimum transaction amt?  I guess that a specific BTC exchange might have rules.

If the the transaction was "rejected", by whom?

What has happened to my money?  Does the vendor I transacted with have it?  Will it automagically be returned to me?
It wasn't a lot in the grand scheme of things (0.00570000BTC ~ 85USD), but I can ill afford to have it simply vanish.

If I don't hear anything back from my vendor what are my next steps (if any)?

Thanks for any guidance you can provide.

Simeon Nevel
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ranochigo
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January 07, 2018, 04:58:40 AM
 #2

Are there really bitcoin regulations (in general) that mandate a minimum transaction amt?  I guess that a specific BTC exchange might have rules.
No. The protocol rules allows for outputs to be at least 1 satoshi and above, albeit it would be considered as non standard. If it's confirmed, there isn't any protocol rules that the transaction has violated.
If the the transaction was "rejected", by whom?
By the service that the vendor is using.
What has happened to my money?  Does the vendor I transacted with have it?  Will it automagically be returned to me?
It's with your vendor and yes your vendor has control of it. Some service does return the coins to you but it doesn't make sense for transactions below 100USD to be rejected.
It wasn't a lot in the grand scheme of things (0.00570000BTC ~ 85USD), but I can ill afford to have it simply vanish.

If I don't hear anything back from my vendor what are my next steps (if any)?
How did you pay? What payment processor did you use? You have to contact the payment processor.

unholycactus
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January 07, 2018, 05:31:36 AM
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This isn't a problem with Bitcoin itself but rather with the vendor you are dealing with.
All customer support requests should be directed to them.
Since they own the address you sent the coins to and the transaction has confirmed, they have control over the funds now.

They should be able to help you out if they aren't shady.

snevel
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January 07, 2018, 05:33:37 AM
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Thank you very much for your extremely prompt reply.


If the the transaction was "rejected", by whom?

By the service that the vendor is using.

What has happened to my money?  Does the vendor I transacted with have it?  Will it automagically be returned to me?

It's with your vendor and yes your vendor has control of it. Some service does return the coins to you but it doesn't make sense for transactions below 100USD to be rejected.

Is there some way to know, positively, that the vendor actually "received" the BTC?


It wasn't a lot in the grand scheme of things (0.00570000BTC ~ 85USD), but I can ill afford to have it simply vanish.

If I don't hear anything back from my vendor what are my next steps (if any)?

How did you pay? What payment processor did you use? You have to contact the payment processor.


I'm not sure what you mean by "payment processor".  I used Multibit HD (running locally on my PC) to send the BTC directly to a wallet address the vendor provided.  If there was some intermediary involved, I don't know who it is.

I guess this is what I get for using a payment process I just barely understand...

Simeon

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January 07, 2018, 06:31:54 AM
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Is there some way to know, positively, that the vendor actually "received" the BTC?
If the transaction has confirmed, either the vendor or the service has it. If its the vendor, they should return it. If its the service, they should return it.

I'm not sure what you mean by "payment processor".  I used Multibit HD (running locally on my PC) to send the BTC directly to a wallet address the vendor provided.  If there was some intermediary involved, I don't know who it is.

I guess this is what I get for using a payment process I just barely understand...
In many cases, vendor uses an external point of sale provider like Bitpay. If they didn't specify the minimum deposit, it isn't your fault. Even if they did, they should still be returning it.

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January 07, 2018, 09:31:17 AM
 #6

Bitpay recently tried to introduce a minimum $100.00 amount to orders processed through them... at least, they tried for eGifter.com... then seemed to backtrack on that a day or two later (I assume because of a massive backlash from customers and vendors)...

You need to talk to your Vendor and find out where your Bitcoins are... they're either with the Payment Processor (most likely scenario) or the payment processor forwarded the payment to the Vendor less likely, as apparently the Payment Processor "rejected" the transaction... which isn't actually possible by the way, you can't stop bitcoins coming into your address Roll Eyes

snevel
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January 08, 2018, 04:04:42 AM
 #7

Thank you RANCHIGO, UNHOLYCACTUS and HCP for your prompt and informative replies.

I knew when I started the thread that I wasn't having a Bitcoin issue per se, but I didn't see a more appropriate forum.

I *did* want to confirm my understanding that because my transaction had been "confirmed" (as noted in the screenshots of the Multibit detail screens) that my vendor actually received my money.

Now I know for sure that I need to harass my vendor to resolve any refund issues.

I'm not worried that they're ripping me off.... I've done business with the company for years, but I've only done 2 other BTC transactions with them that worked out ok.

Thanks again for your help!

Simeon
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