Paypal alternative

[screwballl]

Granted there are all sorts of them out there and I know how the anti-paypal sentiment runs here... I found one that is actually an online bank account... and if you sign up today you get a free $25... and you can send and transfer money to other "RME" people free of charge.

www.revolutionmoneyexchange.com

Account issued by First Bank & Trust, Brookings, SD, Member FDIC and part of the Fishback Financial Corporation.

[theburan]

I should really look into google checkout sometime soon. I've heard good things about that too.

[stinger608]

Yea, how long does it take to transfer money from your bank to there account? I know Paypal is about 3 damn days

[screwballl]

Adding money to your (RME) account (from your bank account) will take about 3-4 business days. Withdrawing money from your account will take about 2-3 business days.

Paypal is there to make money, what better way to do that then to hold your money an extra day or two in a daily interest building account... which is why it generally takes 4-5 business days. And since Paypal is not a bank or official financial office, using them to hold your money is dumb as can be, especially with their arcane practices of randomly freezing account and potentially "stealing" all your money because of a "potential fraud transaction".
RME is a bank and the money is FDIC insured.

[Panda Man]

EFTs will never be instant. It takes the AL Dept. of Revenue about 5 days to complete a transaction :P

[screwballl]

this is done via ACH

Once the bank verification process has been completed, you can add money to your account via an ACH transaction whenever you would like by going to the Add Money tab.

granted it may take an extra day or two for some banks depending on their verification process

[JayA55]

Originally Posted by screwballl

Paypal is there to make money, what better way to do that then to hold your money an extra day or two in a daily interest building account... which is why it generally takes 4-5 business days. And since Paypal is not a bank or official financial office, using them to hold your money is dumb as can be, especially with their arcane practices of randomly freezing account and potentially "stealing" all your money because of a "potential fraud transaction".
RME is a bank and the money is FDIC insured.

Very true. To counter that I would suggest using a PayPal MasterCard, with that you can access your PayPal funds instantly, plus it works as a regular debit card would.

I ran into one issue with PayPal where they froze a transaction due to potential fraud, but they eventually refunded all of the money.

[onebxr]

PAypal is not FDIC insured and is not under the scrutiny of the federal reserve. It is a business not a bank, so if you lose money there is noone to help you out. Paypal sucks!
-1

[screwballl]

I signed up with this RME yesterday and got my free $25... plus the wife signed up after I referred her and I got an additional $10. As soon as my local bank account is confirmed, I have full and free access to that money.

[PTRMAN]

Uh, Panda Man, could it just be that it is the ALABAMA Dept. of Revenue?