posted on December 8, 2000 01:40:35 PM
I just had a buyer pay with EP and I got a notice that had *no link* and this:
>>"Please note, for your protection, these funds may be pending for up to two days before they will be available in your account. This procedure is only temporary.">>
I signed on an no payment is there. Nothing shows up "pending" or otherwise.
Odds that they message is fabricated by the buyer?
.000000001%
What the heck is going on?
I'll tell you one thing.
I'm done.
I am going Paydirect exclusively. I can't tolerate the ever changing terms of the independents.
posted on December 8, 2000 01:53:01 PM
okay, so I am talking to myself now...
My auction copy says "ship by next day with EP payment" and I have one, so am supposed to ship. However I cannot see or access the money for 2 days. This is not the terms I agreed to ship under.
^&*#$$*(*&%^$ I am sick of these places playing fast and loose with MY money. When did the rules change and why didn't they tell me?
posted on December 8, 2000 02:05:41 PM
Hi VeryModern. I think ExchangePath is working on an upgrade and has changed some of their terms. Here is a quote from their announcement page:
QUOTE
"In addition, please note: Funds from send money transactions may be pending for up to two days before they will be available in the recipient's account. We appreciate your patience and support. This procedure is temporary"
END QUOTE
posted on December 8, 2000 02:19:07 PM
Well it sounds okay on paper Blanche - but in practice it sucks. I have a notice but no payment showing anywhere. Will it magically appear in 2 days, or will 2 days turn into 3, 4, 5 or more?
I am done like dinner with these folks. They won't be around in 6 months anyway. Wanna bet?
posted on December 8, 2000 02:34:35 PM
No, I don't wanna bet because I agree with you. I don't use any online payment services that aren't regulated or FDIC insured. It kinda bothers me when I don't have my own account but instead my money is lumped in with everyone else's money. Banks have accounts - these online payment services DON'T.
If you haven't already read the Bankrate article "Your money's not as safe in no-account e-payment services" you can find the link in my post at the bottom of this thread:
posted on December 8, 2000 02:37:33 PM
Given the track record of Payplace and Payme, plus the nosedive of CMGI, Exchangepath's parent company, I would say the over/under on Exchangepath's survival is 2 months.
posted on December 8, 2000 03:07:51 PMVeryModern, it loads fine for me. Try the link here and see if it's any better. If not, try to copy and paste the link into your browser.
posted on December 8, 2000 03:14:44 PM
Something just occurred to me. duh!! I wonder if the reason PayPal, ExchangePath, etc. freeze a user's entire account instead of just the amount in question has to do with the fact that the user doesn't have an individual account? Maybe they don't really know the exact amount in the account at the time they freeze it. Please notice that I'm using the term "ACCOUNT" lightly.
posted on December 8, 2000 03:38:20 PM
it's not that they don't know the amount (and if that was the case it would be quite ludicrous on paypal's part)
it's because ep and paypal are both forms of ecash, where the account holds the collective amount of all transactions, in and out. Therefore the balance is fluid (unlike say Billpoint) and there may not enought money to freeze for a single transaction, so the account has to be frozen. With billpoint, each transaction is static and distinct, so you don't have that problem of not being able to freeze a single transaction/
posted on December 8, 2000 10:08:34 PMI wonder if the reason PayPal, ExchangePath, etc. freeze a user's entire account instead of just the amount in question has to do with the fact that the user doesn't have an individual account?
Think of the least complicated answer.
It's because their software cannot do that. They didn't perceive that as a requirement to go into the online payment business, and, at this late hour, they discover that adding such features is difficult.
