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Author Topic: Prepaid Visa problem?  (Read 1398 times)
lysbryter
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April 03, 2012, 02:18:54 AM
 #1

Im quite new to Bit-Coin and have some questions!
Not to many people accept Visa Prepaid cards for Bitcoins!
The reason is proberly the chargeback risk?

What if a deal went down like this:
The buyer makes 1 new paypal account in his name, unregistered
The seller gives the Prepaid Visa details!
The seller wires the money to his regular paypal account.
When this is done then the buyer wires the bitcoins to the seller..

Will this make the chargeback impossible?
The buyer will not have the password to the paypal account wich was used for the transaction, so
nothing can be done, right?
If not, can someone tell me why im wrong?Smiley

As I said, im very new to this!

Any input would be great, we are all here to learn:)
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Stn
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April 03, 2012, 04:55:52 AM
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There is no way to do reversible payment irreversible with any tricks. There are services which still accept reversible payments such as Visa (i.e. www.centraw.com/?page=express) but it involves higher fees as sort of insurance against potential chargebacks.
lysbryter
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April 03, 2012, 03:33:55 PM
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Anyone? Roll Eyes
lysbryter
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April 03, 2012, 05:07:48 PM
 #4

But how can you reverse anything, when the seller owns both paypal accounts?
The seller gets the creditcard info and transfer it between his accounts!
Are there other ways to do chargebacks?
DeathAndTaxes
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April 03, 2012, 05:16:41 PM
 #5

You post makes no sense.

Honestly it doesn't.

You say seller owns both paypal accounts what "Both accounts".  Then you say prepaid card but talk about wiring money between accounts.

So I go back to "You post(s) make no sense."
lysbryter
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April 03, 2012, 05:30:01 PM
 #6

Well, im new here so i feel im allowed to make no sense!
I will try again!

If the buyer gives away the PrePaid visa details and the seller stores it in a account of his choise.
How can the buyer gets his money back then?
You get the credit card details and spend all the money, I get the bit coins when you have used or transfered  it!

How can this be reversible?
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April 03, 2012, 06:59:10 PM
 #7

If you keep the information, you can issue a chargeback on a prepaid visa, I believe.
lysbryter
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April 03, 2012, 09:12:02 PM
 #8

Huh, okey! Im not so familar with all this, but its nice to have people here with some knowledge!

What if you make the paypal-payment as a "Personal-Payment"?
I found a small article wich i will quote:

"When a buyer sends a gift payment for an item they think they are purchasing, there is no mention of any item or service being sold nor is there a shipping address attached to the transaction.  There is a space for a “personal message” of 300 characters, but even if the buyer inputs details of the transaction there is little that can be done.  This means that the “seller” is not obligated by PayPal to actually ship an item or provide the service that may or may not have been agreed upon outside of PayPal through email, text message, or whatever else.  There is nowhere for the seller to input tracking and nowhere for the buyer to dispute the transaction if a problem occurs.  As far as PayPal is concerned the transaction is exactly what it says it is – a gift.  This is stated in section 13.5 of PayPal’s User Agreement; PayPal clearly states, “You may not file a dispute for a Personal Payment."

Am i still out in the woods here? Or is this a way for people to buy bitcoins with PrePaid Visa?

Can Visa still do chargeback then? If the money went through paypal and they state that they wont do anything about it?
shipster
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April 03, 2012, 09:54:16 PM
 #9

If you're not buying huge amounts of BTN, I would go with what "Stn" said and buy through a seller like centraw.com that charges the small fees.

love bitcoins
cliffbtc
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April 04, 2012, 08:29:24 AM
 #10

I use prepaid my self. I've not bought any coins with it, but if you go to the card's website log into your account or make one and find direct deposit information, you can use this as your bank info to sign up for dwolla or what ever your favorite exchange uses.
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April 04, 2012, 10:55:35 AM
 #11

Huh, okey! Im not so familar with all this, but its nice to have people here with some knowledge!

What if you make the paypal-payment as a "Personal-Payment"?
I found a small article wich i will quote:

"When a buyer sends a gift payment for an item they think they are purchasing, there is no mention of any item or service being sold nor is there a shipping address attached to the transaction.  There is a space for a “personal message” of 300 characters, but even if the buyer inputs details of the transaction there is little that can be done.  This means that the “seller” is not obligated by PayPal to actually ship an item or provide the service that may or may not have been agreed upon outside of PayPal through email, text message, or whatever else.  There is nowhere for the seller to input tracking and nowhere for the buyer to dispute the transaction if a problem occurs.  As far as PayPal is concerned the transaction is exactly what it says it is – a gift.  This is stated in section 13.5 of PayPal’s User Agreement; PayPal clearly states, “You may not file a dispute for a Personal Payment."

Am i still out in the woods here? Or is this a way for people to buy bitcoins with PrePaid Visa?

Can Visa still do chargeback then? If the money went through paypal and they state that they wont do anything about it?
If the person uses a stolen CC to make the personal payment, the funds will get reversed nevertheless.

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April 04, 2012, 02:45:11 PM
 #12

+1

If it's a stolen card, it does not matter. Funds will go back, with a possible block on the paypal account.
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