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Old 08-10-2018
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Default How do you guys deal with accepting payments from bad accounts?

I want to offer a currency exchange service but i'm worried about receiving payments from a PP that was hacked or has carded funds, because i'm sure that in the case of an investigation i'll have to give the money back and i'll lose the BTC that I traded for it.

Thanks for the help guys
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Old 08-10-2018
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Default Re: How do you guys deal with accepting payments from bad accounts?

There's no safe way to get into that business, especially with Paypal.

You could require all of your buyers send you a copy of their ID which must match their registered Paypal address. I'm sure most buyers won't be willing to do that and most who do would probably be sending you a phake ID. You'd be scammed left and right.
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Old 08-10-2018
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Default Re: How do you guys deal with accepting payments from bad accounts?

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Originally Posted by phaz0rz View Post
You'd be scammed left and right.
I agree, PayPal is not an option for this kind of trade.
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Old 08-10-2018
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Default Re: How do you guys deal with accepting payments from bad accounts?

Quote:
Originally Posted by phaz0rz View Post
There's no safe way to get into that business, especially with Paypal.

You could require all of your buyers send you a copy of their ID which must match their registered Paypal address. I'm sure most buyers won't be willing to do that and most who do would probably be sending you a phake ID. You'd be scammed left and right.

Yea true, can I ask what you think about an idea?

What if I tell them to purchase an Amazon Gift Card?

Can that be chargedbacked?
Can I still get in trouble if the funds come from a bad account?
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Old 08-10-2018
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Default Re: How do you guys deal with accepting payments from bad accounts?

Anything bought with a card can be charged back

Selling BTC for PP is always going to be very very high risk
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Old 08-10-2018
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Default Re: How do you guys deal with accepting payments from bad accounts?

Quote:
Selling BTC for PP is always going to be very very high risk
Requires another couple of "very"s to accurately quantify the risk.

OP, best to find another way of accepting payment.
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