Zelle Payment Sent, Seller Says Unconfirmed, Time Limit Approaching

Hi, I made a purchase on Bisq on Friday evening 9/15/17 using Zelle. I transferred the funds about an hour and a half after initiating it. I contacted the seller over the weekend, and he said that he sees my Zelle transfer, but it still says pending. I called my bank yesterday, and they say that the funds have been sent but that the receiving bank may take a few business days to confirm receipt. I have about 25 hours until the trade closes and goes to arbitration. I was wondering what happens if it goes to arbitration since it seems like both parties are just waiting for the Zelle transfer to confirm.

I also asked my bank about Zelle limits. If the buyer reaches the limit with their Zelle account, can they transfer funds to the seller using another one of their Zelle accounts but still pay the correct amount and include the correct trade ID? Like say the buyer’s Bisq account is abc@email.com and so is the email associated with one of their Zelle accounts. Can the buyer transfer funds from def@email.com Zelle account instead? Thanks.

You don’t need to open a dispute (as well as the peer). There is just the button displayed for opening a dispute. If both dont open it you can continue the trade as usual. Even if the peer opens you can tell the arbitrator the case and the security deposit will not be taken. Tell the peer about that so we avoid an unneeded dispute.

Hi thank you for your help. Do you have information about my second question regarding transferring funds from another Zelle account if one has reached its max. Does it matter what Zelle account funds the transaction as long as the correct amount is paid and the transaction ID is included in the memo? Thank you.

You need to use the same account, otherwise the peer will open a dispute if the bank statement does not match the accounts (email or tel nr.). If reaching the limits would cause a dispute as well I recommend to use then the second account and provide evidence to the arbitrator that you are the owner of both accounts. To check the limits is mentioned in a popup and failing that is considered a breach of contract. It will be up to the arbitrator how strict he takes that rule.

Ok thank you

I am sorry, but I have another question. I am new to Bisq, and I created 2 accounts so far. The first account was under my real name, and I made several trades with that account. However, because I wanted to protect my anonymity, I created a new account with a pseudonym. I just realized that the Zelle account name is under my real name but my Bisq account is under my pseudonym. My original account was accidentally deleted in the process of creating my second account. However, under the history tab of my Bisq browser, it shows all my previous transactions under my real name. I have made 2 purchases using my pseudonym, and both are getting close to the time limit. I have not received the bitcoins from either seller yet. Does this mean I have lost my money and will not get the bitcoins? Thank you.

You need to use the real name in the bank account details. The peer will check in his bank statement if the data matches and if not opens a dispute.
Your funds will not be lost but it might be that the security deposit will get taken as that is a breach of contract. But depends on the arbitrator and how convincing are your excuses in the dispute chat.

Your account data are only exchanged with the trading peer, nobody else see that data (only stored locally). The trade peer usually sees anyhow the senders bank details when receiving the funds (depends on bank).

Hi, thank you for your reply. I feel better knowing that the funds will be safe. However, could you please add a notification that the name for “Account holder name:” in the Add new account screen is the name of the Zelle account because I thought it was the name associated with just my Bisq account. It was just an honest mistake on my part. I did not know that the name there had to match up with my bank account name. Could you also please provide a link to the contract stating this so that future users of Bisq are aware? I think that Bisq is the best service for purchasing bitcoin. However, I just want to make sure that I understand all the rules of using Bisq. Because I made 2 purchases using the new account, unaware of this mistake, and if I lose my security deposits for both trades that would be .06 BTC which is about $240.

Yes I will try to improve the wording. You are not the first who did not use the real name. I understand also the privacy concerns and that it is not easy to understand and know all details. It is also a challenge for us to communicate all those details without ending up in a popup hell… Link the arbitrator to that thread. I don’t assume that he will take all your deposit (either partly or nothing, but its up to the arbitrator).

Ok, thank you. I have included a link to this thread in the arbitration chat.

Arbitration Update: The arbitrator did a fantastic job. The arbitration process was opened at 7 pm last night and finalized at 6 am this morning. The arbitrator awarded 0.005 BTC of my security deposit to the seller for the troubles caused, which is completely reasonable. Thanks.

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