#1
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Paypal Question
Is it against the rules to use your credit card to send a friend money and he sends me back the money and then I can withdraw the money from paypal account into my bank account?
I'm in need of money and my cash advance limit is low. |
#2
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Re: Paypal Question
Money laundering!!!!!!!!!!!!!
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#3
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Re: Paypal Question
As long as it is YOUR credit card, I don't see the problem in doing this.
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#4
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Re: Paypal Question
Yea it's my credit card. I will still have to pay back the CC company though. I don't mind, I just have to be responsible with a CC and not get into a huge debt.
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#5
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Re: Paypal Question
[ QUOTE ]
Money laundering!!!!!!!!!!!!! [/ QUOTE ] If it was money laundering, they wouldn't even consider P2P transactions outside of eBay. They are a business, who makes a profit from the fees, so what is the big deal ? |
#6
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Re: Paypal Question
I don't think it's much different than a cash advance at the grocery store. You will, of course, still lose 3% on the transaction fee, even if your friend doesn't keep any profit for himself.
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#7
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Re: Paypal Question
bump. Anyone else ever done this?
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#8
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Re: Paypal Question
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so what is the big deal ? [/ QUOTE ] - OP steals CC and sends $500 to friend - Friend sends $500 back to OP - OP can now withdraw $500 to bank account - CC company finally charges back $500 and money is gone Edit: dont know if this will work, but what other reason would OP want to do this for? |
#9
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Re: Paypal Question
I didnt see the part about his cash advance limit being low. But I am still suspicious about this kind of activity.
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#10
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Re: Paypal Question
Sometimes cash advance fees are a lot higher, too. Many possible reasons that this guy *could* be legit. When you do get a chargeback on a PayPal account, they debit your PayPal account for that amount.
Even if this makes your PayPal account negative, you're basically losing the priveledge of using that account (and maybe ever using PayPal again, or at least without risk) again. If you ever do fund that account again, they'll take the money from that funding to cover your negative balance. They may even attempt to charge the attached bank account, etc... My guess is the poster is legit - And I think the penalty for doing this (loss of PayPal account) far outweighs the $500 you'd be getting, but that's just me and my 2 cents. [img]/images/graemlins/wink.gif[/img] |
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