Cash Deposit, no reference

I have an open cash deposit trade (to buy), but the bank of the seller does not accept references when depositing cash in branch (this is what they have told me in the past). If I deposit the cash and the trade gets disputed, will the arbitrator side with the seller because I did not use the reference? A little unsure how to proceed here and didn’t want to open a dispute just to talk to the arbitrator.

If you follow the cash deposit procedure it should work out OK.That means writing “No Refund” on the deposit slip, cutting it in half and taking a photo to send to the seller. The missing reference can be added in pen if you like.

Try not to overwrite the receipt details too much so it’s still legible.

Where is the cash deposit procedure described? I have done the above on LBC but never been asked to do it here? How can I send a picture to my trading partner? Do I need to open a dispute for that? Thanks

I just saw you had your trade sorted out in arbitration. Good decision not paying because the names don’t match. Common sense is always a good advisor when dealing with money. I just deleted the following but decided to leave it here for future reference:

There’s no description for the cash deposit procedure.

When you pay, you keep the deposit slip and wait for the BTC to clear.

When the seller receives the money, he confirms in the client that he got it and you’ll get the BTC to your local wallet. If he tries to scam and doesn’t confirm, you’ll have the deposit slip to prove your payment. You’d talk to the arbitrator once the trade times out. He will ask you to tear the slip apart and take a picture of it. You’ll have to send the pic to the arbitrator. That’s done within the Bitsquare client.

There’s no way in Bitsquare to send a message your trading peer as it introduces additional risks.

For cash deposit the sender gets displayed a popup with instructions (wite NO REFUND on the receipt, tear it in 2 parts and send a photo to the peers email address).

Thanks for pointing that out. I wasn’t aware of that.

Sorry, but I disagree with that.
No paper receipt photo can be proof of anything!
Some people make a fake money, and receipt it is really anybody can make!

The only way to know if money was deposited to the account is to have access to this account.

Is the arbitrator was having assessed to the bank account?
(means you have to give hem login\pass to your bank account!)
If not how he can be sure?

When it comes to online bank accounts, you can use PageSigner to verify your payment :slight_smile:

The strategy with the torn apart receipt was used because we see that a lot at Localbitcoins trades and even it is not very safe it seems it works good enough. It is not a real proof of payment but should help against charge backs. In case of a dispute there are several ways how the arbitrator can check the payment. Pagesigner is a tamper proof method, the arbitrator has of course never access to the bank account but he gets a cryptographically secure proof of the bank statement from the traders.