Post
Topic
Board Currency exchange
Re: Buying and Selling BTC for email money transfer (must be in Canada)
by
superbit
on 02/04/2013, 21:42:19 UTC
Beware the phishermen!

All online spends are reversible, even when the banks claims otherwise on their websites!

In my long experience I have seen a dozen Canadian exchangers blown out of the water using this model.

Better raise your fee from 5% to 25%. That way when only 1 in 4 of your customers is spending from an account they don't own you'll be breaking even!



Are you referring to email money transfers using certapay?  I am pretty sure that these can not be reversed, in fact I tried to have one reversed for tickets I bought online and the seller then never emailed me the money and the bank could do nothing.

Here is a quote from their website:

"Always be careful when sending money

An Interac e-Transfer transaction cannot be reversed once the recipient of the funds has deposited the transfer. You must obtain a refund directly from the recipient. You can ask the recipient to send you an Interac e-Transfer for the refund amount."

http://www.interac.ca/index.php/en/interac-etransfer/etransfer-detail