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I think this might be an alternative to PayPal
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UtahCoin
Posts: 5,366 ✭✭✭✭✭
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.
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.
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<< <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.
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.
Independent confirmation that these guys are legit:
TextFed Reserve Correspondence
<< <i>Independent confirmation that these guys are legit: >>
They'll probably still be banned as a payment option on eBay, though...
<< <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.
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.
<< <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>
<< <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.
Russ, NCNE
<< <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.
<< <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...
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
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.
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
<< <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.
The name is LEE!
<< <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.
<< <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.
<< <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.
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.
The name is LEE!
Edited to add: No, I'm not a little slow, I'm really, really slow!
The name is LEE!
<< <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?
<< <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"
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.
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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.
"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.
The name is LEE!
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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.