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 Replies: 14 / Views: 2,406 |
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Valued Member
United States
57 Posts |
I bought a 1940 Proof Dime on e-Bay. When I tried to use my Citi
Card on PayPal, the charge was declined.
I called Citi Bank and was told they instituted a new Policy that
bans charges for Currency. Actually, the news release said it was
for Cryptocurrency.
It was impossible to get anyone to understand the difference between
Numismatic items and Cryptocurrency and I was not given any contact
info to elevate this to. In fact, they refused to tell me who I
could elevate this to.
I think it's time for a new Credit Card !!
Richard S.
*** Edited by Staff to remove YELLING. All capital letters is the internet version of yelling. Please do not do it in titles or posts. ***
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Pillar of the Community
United States
772 Posts |
A new credit card is right...
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Pillar of the Community
United States
2023 Posts |
A quick search suggests Citibank isn't alone in this -- JP Morgan and BofA may do the same (probably more), at least as far as the ban on cryptocurrencies is concerned. But they should all know better.
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Valued Member
United States
318 Posts |
Cryptocurrencies is booming and I think banks are still trying to figure out how to not get taken by people running up their credit cards as a way to scam the banks out of money by not paying off the credit card.
Over the prior 6 months I noticed my Visa card would not work for various "real coin" coin purchases and it is all starting to make sense now. The places I was buying coins from had the word "coin" in their business name. I work in banking IT and can tell you that banks will figure it out, refine their process, zero-in on distinct places to block use of their credit card. But for now they are probably doing bulk blocks on anything they think is cryptocurrency.
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Bedrock of the Community
 United States
12815 Posts |
How did Citibank know what you were buying on ebay? |
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Valued Member
 United States
57 Posts |
When I went to pay for it using PayPal, they had to get the charge authorized by Citi Bank.
What gets me ticked off is you have no recourse, the Banks higher ups are well insulated
from the great unwashed !!
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Rest in Peace
United States
17900 Posts |
I always use a debit card through PayPal that attaches to the money already in my bank account.
Never had any problem using that setup. Maybe the credit card part is to avoid gambling on crypto, which is really what it is.
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Valued Member
United States
57 Posts |
The last thing in the world I would ever do is give PayPal access to my Bank Account.
Given all the horror stories I have read about how they treat disputes, they will never
see any of my bank accounts.
The Charge Card is my only protection from their predatory practises.
rs
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Bedrock of the Community
United States
12815 Posts |
I've been using PayPal for nearly 20 years tied to my bank account. Never an issue.  |
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Pillar of the Community
Canada
9862 Posts |
 'bout fifteen years for me, never a problem. Wish I could say the same for my Visa, Mastercard and Amex. "Dipping" is not considered cleaning...
-from PCGS website
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Valued Member
United States
57 Posts |
How much selling have you done on e-Bay ? That's where the problems occur, not so much for buyers.
BTW, the replies are drifting off topic. Citi Bank is the bad guy here.
rs
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New Member
United States
24 Posts |
I dumped Citibank years ago. No regrets.
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Pillar of the Community
United States
4333 Posts |
Support your local credit union.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Rest in Peace
10197 Posts |
It does have to do with Fed regulations now that gubmint and banks have become synonymous. Citibank is a biggie, but eventually as bank corps merg, the fingers will want into this pot of private cryptos. Citibank is a "leader" of the industry...  |
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Valued Member
United States
57 Posts |
These replies are getting far astray from the intent of the original post.
Please, nothing further, unless it pertains to my original post.
Thank you
Richard S.
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Replies: 14 / Views: 2,406 |
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Posted 07/06/2018 1:36 pm
