A friend of mine was selling some items a while ago and sadly he got scammed. First the trade went fine, however shortly after the trades the scammer pulled a chargeback. The scammer had bought 300 CSGO keys ($600) and a factory new Dragon Lore AWP valued at $1800...all adding up to $2400. I helped my friend out by gathering all that I could to help PayPal actually check if the accounts used to purchase the items were hacked/hijacked and he also gave them complete screenshots of literally everything related. PayPal customer support rejected his complaint at first but after a few mails the person who replied from PayPals side said that she'll escalate the matter to an "expert". A few days later my friend receives a mail from PayPal...which isn't unexpected, however, what was unexpected was the reply PayPal gave. They said that they think that he has been doing some fraudulent stuff and locked his account completely. After all this he lost... ...$2400 (USD) to the scam... ...what ever money was on the account when PayPal locked it... ...and last but not least he can't now get his salary from his side job because they pay to PayPal... This pretty much says that PayPal can't be trusted, it's not safe in any way to do trades via PayPal nor are they capable of actually handling any sorts of scam reports or anything revolving around that. The original report can be found here and as always there's more behind the scenes, personal details similar things which isn't for public view.
Correct me if I'm wrong but does he get his money back from his account after 180 days? Frankly, most of my money is cash, in case somethings gets fucked up on the Internet.
- He gets money back if its not chargebacked... and isn't really in any "position" to fight those either.... - In the next 6 months he gets back whats left. the 30 day cycle is bullshit. - He loses his PP account.... if he wants to use it again, he needs to make a new one. PP cannot be trusted with more then 15,- dollar. Its the honest ppl that gets the bill, and they still "favor" the USA citizens. Any protection advertised? only for US citizens. Years back, here in the Netherlands ppl started using PP for some stuff, and with any case of chargebacks it was always the US citizens that got the money, no matter the reasoning... Lawsuits are more costly there then here. Thats all that's to it. Technically you can claim the shit, but who's going to spend the money on lawyers and have the long, deep, toxic breath for years to come to get thru a trial? In the USA, the damages payout are far exceeding the total costs, so there it can be worth it. Here. they must maybe pay 300 euro "fine" to you, and you get near zilch for your lawyer costs, your time, research, filing, etc etc. The payout doesn't cover the risk, and the loss of money during such. The best one can do is make contact with your countries consumer protection agency or w/e it would be called, and put the case forth thru them, or simular etc. Hence, Paypal cannot be trusted.
Found yet one more reason why not to use PayPal... So, a guy added me wanting to buy keys a while ago, we never came to an agreement but he sure as hell was happy to send money over so of course I refunded it. However, PayPal thinks that it's ok to pull a chargeback on refunded money...yes, he actually pulled a chargeback on the money that I refunded so basically the guy is doubling his money. Just to add to this, when I try to respond to the dispute with "I have already refunded..." I just get an error message saying that the transaction ID is invalid. How broken can this service be..? -isn't there any limits..?
PayPal is just broken. It's a flawed system for steam trades, we need to find something different; Like a trading website that accepts bitcoins and doesn't allow chargebacks.
That's absolutely not what I was saying.... I'll light it up for yah: Bitcoin (BTC) CANNOT be chargebacked... for there is no overseeing body, and even if, they cannot control your wallet. That means that whatever somebody does, once the BTC is transferred, the ONLY way to transfer it back is by the receiver of the money. Nobody else can. There are websites who hold BTC wallets for people, Mt Gox was such an example, big downside: they control your wallet, and they can go offline any moment they like... which did happen for Mt Gox. The trick is with such a site to have your own personal wallet software on your pc, and transfer everything out of the website's wallet to your local one... that way, you keep the website wallet empty and you can be sure no-one will walk with your BTC. But the entire system will tell you: Its IMPOSSIBLE to do a chargeback in BTC.
Sorry, noticed the error in my original post; I meant a site where you could pay in bitcoin, OR have a system without.t chargebacks
Bitcoin is the most untrusted source of income / trading / whatever there might be in decades of using the internet. The ONLY reason bitcoins exists to this end is because of miners and because of drugs/maffia/whatever since its the perfect way to do money transfer without taxes and all. Want to give someone 1 mil because of drugs? Use bitcoins, nobody cares. Hence, i would not trust that in the world either;.
Several banks are looking into / or supporting it nowadays.. forgot which, but it where some pretty big ones in the States etc. The problem is just that there is just no good payment system that is blocking chargebacks on the internet. Paypal allows scammers to charge back like there is no tomorrow, which only cost the honest ones money. What you expect? that the honest ppl will trust Paypal? right.... On the other hand, a monetary system that makes it IMPOSSIBLE to chargeback, that you KNOW you have your requested "amount" of it and you know nobody can chargeback that has several advantages. You only have to find a local market so you can sell them in your own country by a payment system that actually works... Instead that the banks learn from this, the fees are way too high and the time to get money to somebody via the banks take way too long. Hell, make a official bank one, just make sure chargebacks aren't possible. If I transfer money to somewhere with my bank, I can't get that back either. All those payment systems online available now are so crappy with that, that BTC actually has merit over them. The only exception is iDeal... but that's useless internationally between private parties.