posted on October 21, 2000 11:29:45 PM
With all the $%#$@ taking place with PayHell recently, I'd thought I'd look over the ElectronicCheck feature at ShrillPoint -- so, I'm reading the terms & came accross this:
Deposit Fees: All deposits to your account are subject to a 0.50% deposit fee.
What does this mean? Does it mean that in addition to the % + $.35 they also charge an additional .50% just because money came into the account? Obviously I'm confused! Please help!
Tom
posted on October 22, 2000 04:35:33 AM
I took this to mean that when you are moving funds from BillPoint to your personal bank account, they will charge that fee on that amount.
But it is still the same idea - you get charged another fee on money you have already been charged a fee on.
We can't win.
catryan >"<
Potential just means you haven't done it yet!
posted on October 22, 2000 07:04:59 AM
Hey tomwii: After reading your post, I checked my Billpoint account. It would appear that they started charging me this 0.50% deposit fee around October 1st. It doesn't show up on any of my transactions prior to this date.
I'm somewhat surprised. Is October 1st when their new rate schedule went into effect? If so it was probably announced, but I sure didn't catch it.
Seems a little devious to charge a 'deposit fee', as though there was an alternative. I understand that credit card processsing costs money, and they are going to charge what it takes to be comptetive. But I wish they would be upfront, instead they snuck this one in
posted on October 22, 2000 07:51:06 AM
The "deposit fee" came about in an attempt to make Billpoint appear less expensive than Paypal.
Paypal has an optional automatic sweep of funds into your bank account. There's an extra charge for this.
With Billpoint, the same service is mandatory and was previously included in the overall percentage. Billpoint broke this charge out as a seperate, mandatory charge so that their "core" fee would apply to the same services that Paypal's does.
But with Paypal, you can choose to do the deposits "by hand" for free.
