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I think this might be an alternative to PayPal

UtahCoinUtahCoin Posts: 5,366 ✭✭✭✭✭
Take a look and see what you think. I just signed up, they give you $25 just for signing up.

Link
I used to be somebody, now I'm just a coin collector.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Have you researched this group? Just a question..before I start a major effort... Cheers, RickO
  • UtahCoinUtahCoin Posts: 5,366 ✭✭✭✭✭


    << <i>Have you researched this group? Just a question..before I start a major effort... Cheers, RickO >>



    Seems legit from what I've seen. Have not seen any negatives out there anywhere.
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • WalmannWalmann Posts: 2,806
    Who these guys say they are

    Independent confirmation that these guys are legit:
    TextFed Reserve Correspondence
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Independent confirmation that these guys are legit: >>

    They'll probably still be banned as a payment option on eBay, though...
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>Take a look and see what you think. >>

    I didn't see a way for buyers to pay using their credit card. If buyers can't be assured that they can get free stuff and leave sellers holding the bag by doing a chargeback whenever they please... wait a minute- did I just say that- that's not what I meant... if buyers can't be assured they have their cc company's protection from the typical scamming sellers you find everywhere online, the service will probably have a tough time competing with PayPal.

    That's what I think. image
  • WalmannWalmann Posts: 2,806
    [q They'll probably still be banned as a payment option on eBay, though... >>



    I think the ebay seller has the option of selecting what forms of payment they accept, ie check, money order,et. These are outside the ebay system and whereas its possible ebay may not permit a direct link to this new form of payment transfer I dont see how they could ban it.
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>I think the ebay seller has the option of selecting what forms of payment they accept, ie check, money order,et. These are outside the ebay system and whereas its possible ebay may not permit a direct link to this new form of payment transfer I dont see how they could ban it. >>

    Sure, they can. They have already banned "cash" as a permissible form of payment, and listings which mention the acceptance of cash are regularly deleted. So if they can ban cash, they can ban a competitor's online payment product.
  • I am very leary about a company that doesn't list their telephone number or give you any way to contact them. They may be only interested in obtaining your banking information. IMHO
    There is nothing like an uncirculated set of washington quarters!!!
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>

    << <i>Independent confirmation that these guys are legit: >>

    They'll probably still be banned as a payment option on eBay, though... >>




    The same way Google Checkout was banned even though they provide the exact same protections as PayPal.

    Do take notice that the 'approved' services are more expensive than PayPal.
  • RussRuss Posts: 48,514 ✭✭✭
    The word "beta" on their home page has me a little concerned.

    Russ, NCNE
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>The word "beta" on their home page has me a little concerned. >>

    That's sort of like trusting a critical business process to Version 1.0.
  • DJCoinzDJCoinz Posts: 3,856


    << <i>I am very leary about a company that doesn't list their telephone number or give you any way to contact them. They may be only interested in obtaining your banking information. IMHO >>

    Go here for their contact information including a phone number. Looks like it may be worth the time to research these guys...
    aka Dan
  • Accounts Issued By First Bank & Trust, Brookings, SD, Member FDIC.


    To speak with a MoneyExchange Customer Service Representative, call 1-800-794-9071


    Our parent company
    To learn more about our parent company, Revolution LLC, please visit www.revolution.com.


    First Bank & Trust is a state chartered bank located in Brookings, South Dakota. First Bank & Trust is a member of the FDIC and part of the Fishback Financial Corporation. To learn more about First Bank & Trust, visit www.bankeasy.com.



    How it works.
    MoneyExchange is an easy, secure, and reliable way
    to send and receive money online between accountholders for FREE.
    FREE to register for an account
    FREE to add money from your bank account
    FREE to send money
    FREE to receive money
    FREE to request money
    FREE to transfer money to your bank account
    A transaction fee applies for check withdrawals, check stop payments, paper statements, ACH returns, and overdrafts. See Schedule of Fees and Accountholder Agreement for more information.




    Register for an Account FREE
    Add Money Electronically from Bank Account FREE
    Send Money FREE
    Receive Money FREE
    Request Money FREE
    Withdraw Money Electronically to Bank Account FREE
    Withdraw Money by Check $2.50 per check
    Paper Statement $5.00 per statement
    Returned ACH Fee $35.00 per returned ACH
    Overdraft Fee $35.00 per overdraft
    Stop Payment on a Check $20.00 per check

  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    Upon examination of the link provided in the first message...

    Did you know that clicking on that link gives a 'referral' to someone whose e-mail address is "wchormicle@sprynet.com".

    If this is not your e-mail address, you are giving someone else an undeserved 'benefit' here.

    A common internet scam is for some website to offer something for 'referrals' which are essentially getting other folks to click on a link and have those link click attributions marked as coming from them. Websites that make their money off of serving out advertising use this method to get folks to click on that website. Scam might be a strong word. Very Questionable Marketing is a better term.

    I don't know what's up. However, I hesitate to click on the link, seeing what is in the URL.
  • RussRuss Posts: 48,514 ✭✭✭
    They have one hell of a Board:

    Ted Leonsis,
    Chairman
    Vice Chairman, AOL; Owner, Washington Capitals

    Steve Case
    Chairman, Revolution LLC; Co-Founder, AOL; Former Chairman, AOL Time Warner

    David Golden
    CFO, Revolution LLC; Former Vice Chairman, J.P. Morgan

    Russell E. Hogg
    Former President &CEO, MasterCard International, Inc.

    David Pottruck
    Chairman, Eos Airlines; Former CEO, Charles Schwab

    Frank Raines
    Former Chairman & CEO, Fannie Mae; Previously head of OMB

    Larry Summers
    Former Secretary of Treasury; Former President, Harvard University

    Jason Hogg
    Founder, President and CEO, Revolution Money

    Patrick Graf
    Co-Founder and CTO, Revolution Money


    There's some big names on that list.

    Russ, NCNE
  • OPAOPA Posts: 17,136 ✭✭✭✭✭
    I signed up & received the $25 bonus w/o any problems. The referral email was mailed to my email address since I did not select a referral at this time...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭


    << <i>

    << <i>I am very leary about a company that doesn't list their telephone number or give you any way to contact them. They may be only interested in obtaining your banking information. IMHO >>

    Go here for their contact information including a phone number. Looks like it may be worth the time to research these guys... >>



    Corrected link.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • WalmannWalmann Posts: 2,806


    << <i>

    << <i>I think the ebay seller has the option of selecting what forms of payment they accept, ie check, money order,et. These are outside the ebay system and whereas its possible ebay may not permit a direct link to this new form of payment transfer I dont see how they could ban it. >>

    Sure, they can. They have already banned "cash" as a permissible form of payment, and listings which mention the acceptance of cash are regularly deleted. So if they can ban cash, they can ban a competitor's online payment product. >>



    I stand corrected.
  • RGTRGT Posts: 508 ✭✭


    << <i>Upon examination of the link provided in the first message... Did you know that clicking on that link gives a 'referral' to someone whose e-mail address is "wchormicle@sprynet.com". If this is not your e-mail address, you are giving someone else an undeserved 'benefit' here. A common internet scam is for some website to offer something for 'referrals' which are essentially getting other folks to click on a link and have those link click attributions marked as coming from them. Websites that make their money off of serving out advertising use this method to get folks to click on that website. Scam might be a strong word. Very Questionable Marketing is a better term. I don't know what's up. However, I hesitate to click on the link, seeing what is in the URL. >>



    I haven't checked out the link, but that email address you posted belongs to the OP.
  • UtahCoinUtahCoin Posts: 5,366 ✭✭✭✭✭


    << <i>Upon examination of the link provided in the first message...

    Did you know that clicking on that link gives a 'referral' to someone whose e-mail address is "wchormicle@sprynet.com".

    If this is not your e-mail address, you are giving someone else an undeserved 'benefit' here.

    A common internet scam is for some website to offer something for 'referrals' which are essentially getting other folks to click on a link and have those link click attributions marked as coming from them. Websites that make their money off of serving out advertising use this method to get folks to click on that website. Scam might be a strong word. Very Questionable Marketing is a better term.

    I don't know what's up. However, I hesitate to click on the link, seeing what is in the URL. >>



    Yep, that's me. I found out about this and wanted to share it. If I got a few bucks for the referral, so be it. No harm intended.
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    Thats what I was thinking as well and have asked Utah directly.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    Now the big question is, how do you add that as a payment in eBay?

    Edited to add: No, I'm not a little slow, I'm really, really slow!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Now the big question is, how do you add that as a payment in eBay? >>

    You probably don't. Do you think they'd really allow you to feature a cheaper competitor to PayPal? image
  • UtahCoinUtahCoin Posts: 5,366 ✭✭✭✭✭


    << <i>Now the big question is, how do you add that as a payment in eBay?

    >>



    I have seen sellers say something like "email me for additional payment options"
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • storm888storm888 Posts: 11,701 ✭✭✭
    "I have seen sellers say something like "email me for additional payment options" "

    //////////////////////////////////////////////////////

    That will work unless/until somebody turns you in; then, EBAY
    will cancel ALL or most of your listings.

    The safest way to do it is to use a "third-party"invoice generator.
    Deselect the EBAY checkout option. Instruct buyers to wait for
    your invoice. In the invoice, offer whatever options you want to.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    Looking through the accountholders agreement I found:

    "If you initiate a transfer of funds to a person who is not a Revolution MoneyExchange accountholder, a hold will be placed on a sum of money in your Account equal to the face value of the initiated transfer. We will notify the person to whom you are trying to transfer funds about the process to become an accountholder and claim the funds. If the person becomes an accountholder within thirty [30] days after you try to initiate the transfer, the funds will be transferred to the person’s Revolution MoneyExchange account and made available to that accountholder. If the person does not become an accountholder within thirty [30] days, or if you notify us before the person becomes an accountholder, we will release the hold on the funds in your Account at that time."

    and

    "Returned ACH Fee - If you initiate an ACH transaction and it fails for any reason, you will be charged a fee of thirty-five dollars ($35)."

    and in the FAq's section:

    "Q. Is there a maximum amount I can have in my account?

    A. Yes, your aggregate account balance may not exceed $2,500 at any time."

    I still do not see where users actually pay you and/or what happens when, say you have $2400 on account and someone pays you $200 for a total of $2600.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • storm888storm888 Posts: 11,701 ✭✭✭
    "I still do not see where users actually pay you and/or what happens when, say you have $2400 on account and someone pays you $200 for a total of $2600. "

    ///////////////////////////////////////////////////////////////////////

    You will need to sweep the account to a bank account, often.

    MOST wise PP users sweep at the end of every business day, or more often.

    If the Rev account is "too full" when a payment comes in, it is credited/entered in increments,
    as the running balance declines. It should only be a problem for LARGE volume sellers.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.

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