BleepingComputer.com: Has Anyone Ever Used E-gold ?

Tell the person you want to pay to get a valid payment system or take a check. Anybody who is legit will do this for you. They may not want to but they can.

My 2 troy ounces on this.
Protect your pass phrase information and your PC from compromise, theft and attack.

Finality of payments and no chargebacks.

If your e-gold account is hacked or compromised and the balance is gone when you log in again, you are out of luck and no refund is possible.


However on the flip side merchants don’t have to worry about chargebacks. As a merchant, when you accept an e-gold payment, the balance arriving in your account from the transfer is 100% your money. Chargebacks are not possible with e-gold. At the end of the month, if you accept credit cards, you may see your net income is substantially lower because of fraudulant transactions, chargeback’s and cancelled sales. This is not possible with e-gold. All transactions are non reversible.

Below is a brief summary from the e-gold TOS on how e-gold non-reputable payments work and why:

The e-gold account holder, known also as the user, is responsible for the protection of users pass phrase that gives access to users e-gold account. Users must never divulge their account pass phrase to anyone and users agree that e-gold Ltd. will treat any person accessing a users account with the pass phrase as the actual user.

Irrevocability of Spends

User agrees that all spends initiated by user are final and not reversible.

By agreeing with the e-gold terms of service, account holders accept that in the event of a loss or misuse of users pass phrase the Issuer (e-gold Ltd.) disclaims all liability for such loss. Account holders accept ALL responsibility for unauthorized spends from the account. The bottom line here is all transactions are non refundable so do not misuse your account access you cannot get any lost funds back.

Chargebacks, Credit Card Fraud, Identity Fraud and Cancelled Sale Transactions are all possible with PayPal and credit cards. It is true that their fraud experts work around the clock, behind the scenes, monitoring activity and trying to prevent possible online fraud or misuse of their product. They even offer a large and comprehensive packages for users, protecting them from fraudulent activity which has occurred and refunding some or all of the loss.

E-gold does not have to pursue such lofty goals, the transactions are not reversible so no refund policy is necessary. When you use e-gold, you get paid and stay paid, no fraud or chargebacks are possible.

Mark Herpel

mgmt@gold-companies.com

This post has been edited by boopme: 09 June 2008 - 10:19 PM

Hello Boopme,

Thanks much.

I'll look into this, it might be my solution!