> A colleague of mine read the T&C around 6 months ago, when we though of > providing this service to our clients and haven't found any cautions > against this kind of service.
When PayPal seized my money, they had a 'Guarantee that All PayPal Payments are Good'. > Did anyone actually try to "cut a deal" with PayPal, explaining the kind > of business you were trying to do? Yes, but the problem is that PayPal allows fraudulent money into their system by giving their buying customers access to credit cards. There are dozens, if not hundreds, of thieves which have access to stolen credit cards. These people will use stolen credit cards to buy gold. Then, when the paying customer discovers this, they will cancel their credit card, leaving PayPal with a fraudulent transaction, who will try to recover the money from where it was spent. This would be the exchange service. What makes this business model impossible to use is that it becomes very popular. You will literally have thousands of dollars in your PayPal account, everyday, if you do this. You won't be able to stop PayPal from locking your account, locking the accounts of several of your customers, and telling the rest of your customers that you are being investigated for fraud. Then, they'll try to reverse the money in your bank account to cover their loss. Don't be fooled into thinking that you'll only take money from people who pay with cash, because you can't really know the source of the PayPal money. This business model is a walking stick of dynamite, and the best advice I can offer is to stay away from it. Sincerely, Craig --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
