posted on September 14, 2000 03:55:29 PM new
Hi,
I work for a new payment system called CheckSpace (www.checkspace.com) that you should check out. We work in a similar fashion (via email) that PayPal does, but have a totally different fee structure.
-There is no charge to sign up.
-There is no charge to send payment.
-You can receive five payments per month for free. After that, you are charged a flat fee of 95-cents per transaction.
-You receive $10 is transaction fee credits for each new member you refer that completes one transaction.
It differs from PayPal because it uses your existing bank account – there is no need to deposit money in a separate account, and then wait for them to send it to you when you want to use it in the real world. Plus you get to keep earning interest on it.
I hope it solves some of your problems.
We’re just finishing off our private beta, so we appreciate your patience. We’ll have a button you can use in your auctions available on the site within the next couple days.
posted on September 14, 2000 04:16:49 PM new
I am a little dense sometimes. I have read what little bit I could get to without signing up AND nothing was really said or explained so that I could understand.
I have a checking account. Does your service USE my checking account ie: deposits money sent to me directly into my checking account or drafts (when I make a payment) FROM my checking account?
If I sign up, how long will it take before I can send/receive payments.
If a new member signs up to MAKE a payment to me, how long does that take? Will I not receive the money until after they have set up their account and had everything verified? ie: this will not be immediate like accepting credit cards payments right? It COULD take days???
posted on September 14, 2000 04:22:09 PM new
Pretty slick site, and VERY nice presentation.
I can't figure out how fast payments arrive in my account, however. If I initiate an invoice (request payment) on day 1, and bidder pays it on day 2, when are the funds available in my account? Does it make a difference whether the bidder uses a CC or debits directly from his checking account?
Is the CC charge calculated as an actual purchase or as a cash withdrawal (I'm betting the latter, since you don't allow chargebacks)?
posted on September 14, 2000 04:24:13 PM new
Yes, all payments you send are from your checking account. (Like a paper check) All payments you receive are automatically deposited in to your checking account.
You can receive payments immediately. If you provide a credit card number during signup so we can verify your physical address, you will be able to make payments immediately, up to $500 per week.
Payments clear in 1-3 days. Typically it will take 2 days. If the person paying you doesn't provide their CC# when signing up, then they will have to wait for a snail mail verification code, which will obviously increase the time it takes to get your funds. But, if they provide their credit card, you will get the money in 1-3 days.
posted on September 14, 2000 04:27:22 PM new
HardCottageQuilts-
In your scenario, the money will arrive in your account on day 3 or day 4. Typically it will be day 3, but that is somewhat dependent on the banks.
We currently don't offer an option for a bidder to pay with their credit card. All payments are electronic checks from US bank accounts.
posted on September 14, 2000 04:33:57 PM new
My credit card has a PO address. To verify my physical address, I would have to be mailed two letters-one to each address correct? That could take awhile.
If I am a seller and a new "buyer" wants to sign up and they have the same problem(different address on credit card), then I have to wait for them to get the snail mail and enter the code BEFORE I get my money right?
Also, after reading HCQ's post and your reply-YOU ARE ACTUALLY ONLY AN ELECTRONIC CHECK PAYMENT SERVICE????? Now THAT is something new isn't it?
If a person does NOT have a checking account, they cannot use your service?
posted on September 14, 2000 04:46:50 PM new
As long as your CC# matches the address you provided us, you will be able to make payments of up to $500 per week immediately. If you want to go beyond that, follow the instructions on the site.
The one thing I want to clear up is - that the snail mail verification only happens if you do not provide us with a credit card number.
Currently our service only uses checking accounts.
posted on September 14, 2000 06:16:00 PM new
Hi...As a sidenote...we are also developing an echeck. I know you all hate it, but there is a slew of things right around the corner.
Hi all:
I'm back from making rounds on other boards. There are clearly a lot of concerns and questions about PayPal's recent reminder message. I can’t answer all of them in one post, but I want to address some of your most important concerns.
We have always said that PayPal would be free for person-to-person payments. When people started using it for e-commerce, we evolved as a company, expanded our features, and in June created Business Accounts (for companies) and Premier Accounts (for individual entrepreneurs). We told our users that we wouldn't force people to upgrade, but that didn't mean it was OK for business users to violate our terms of use and conduct their commerce with a PayPal Personal Account. That's why we sent out an email in July that reminded business users of our policy.
While 250,000 of our users did understand what our terms of use required and decided to upgrade to or open a Premier or Business Account, a number of users either honestly weren't aware of our policy or else chose to ignore it. Since we assume that most people like to play by the rules and hence wouldn't expect PayPal to continue to subsidize their auctions with free credit card processing, customer service, and fraud protection, we sent the login page as a reminder to our active users. That's all it was, just a reminder of a policy that we've publicized before -- not a new one. It wasn’t meant for someone who occasionally sells personal items online; it was meant for those who are part-time or full-time sellers. We're sorry if the page seemed abrupt or ominous to some of you. It certainly wasn't intended to be. We were just trying to make sure that you all knew about our existing "business use" policy.
We also wanted to be straightforward and notify you that we're considering a new policy to enforce our terms of use. We hope we won’t have to, but if we do, we’ll strive to be fair and we'll be sure to announce the new policy through emails and content on our website at least two weeks before we implement it. Contrary to what has been reported on some threads, no policy has yet been determined; we have not decided on a specific transaction limit, or even whether this would be the best approach. We can say this: We don't intend to surprise anyone by automatically upgrading their account or shutting them down. We may have to limit costly functionality on Personal Accounts (like the ability to accept unlimited credit card payments), but everyone will have a choice, and as we’ve said all along, no one will be forced to upgrade.
Please understand that PayPal can’t subsidize large volumes of credit card transactions -- especially since we'll be giving a big part of the float back to our users starting next month in the form of income on funds left in your PayPal account. So, if you're selling goods to make a profit, we're asking you to play by the rules and upgrade to the account that is most applicable to you (either Premier or Business). We want to make online payments safe and easy for everyone, but we need your help to do this.
If you have thoughts or concerns on what our policy should be, please email us your suggestions (mailto:[email protected]). Since I can't possibly respond to every specific comment or question on the boards, please also use this email for any questions you may have. I will make sure that the whole team (including management) sees your comments, and we will try to answer every question as soon as possible.
Thanks again for your comments, and for caring about PayPal. We appreciate your feedback.
posted on September 15, 2000 11:04:28 AM new
Paypaldamon.....
You have no business posting you CUT & PASTE LIES on this thread. Find something new and useful to say PLEASE!
Brian.....
I will be checking out this option and others for an alternative to PayPal(free or otherwise).
Its not about the fees with PayPal, its about the LIES, DECEITE and DOUBLETALK!
I pay 5% on my merchant account per transaction. I knew it going in and I accepted it willingly, because I was offering a willing customer another convenient way to pay.
posted on September 15, 2000 11:27:11 AM new
Personally, I don't have a problem with PayPal's upgrading system. I read the notification that was sent out in June (I think). My problem is that I want a check. It should have been received at least a week ago. I checked out Brian's site. NO WAY. I want an *option* to have direct deposit or check. CheckSpace doesn't give that option. I also do not like Brian's response to my original question. I wasn't asking for an advertisement to a system that does less than PayPal.
CheckSpace is definitely off my list of potential alternatives. I'll stick with PayPal.
posted on September 15, 2000 01:11:00 PM new
CheckSpaceBrian, I have only one question. Do you require access to withdraw funds from bank accounts. As we see,promises are broken & mistakes are made every day. I don't mind paying reasonable fees but I will never allow withdrawal access to my bank account.
posted on September 15, 2000 02:29:54 PM new
I'm not sure if I totally understand your question elnaman but I am going to give it a shot.
We do require access to your bank account so you can send and receive payments. However, if you would like to maintain a $0 payment level (which would essentially make you unable to send payments) you should:
1) Not enter a credit card number during signup. And
2) When you receive the snail mail verification code, don't enter that either.
You will still be able to receive payments, and the only time you will be asked to make a payment via CheckSpace is each month for any transaction fees you have incurred.
. 