posted on May 10, 2001 03:27:08 PM new
They have a whole bunch of new tools for us auction girls... and guys too i guess... does anyone else use them? theyre keen...
posted on May 11, 2001 06:42:14 AM new
I have used them a number of times and you get your money faster than most other services. Buyers usually prefer to use credit cards but if a buyer says he's sending me a check or mo, I suggest that he look at achex.
posted on May 11, 2001 07:47:57 PM new
yisgood, Have you reviewed their new TOS? As I recall, they used to have some protection for both buyer and seller. Now it looks like protection for sellers only (and I think they now charge for over 30 transactions per mo.). Is there anybody that protects sellers from frivolous chargebacks but still gives buyers some kind of recourse in case of fraud?
posted on May 12, 2001 06:33:21 PM new
>>As I recall, they used to have some protection for both buyer and seller. Now it looks like protection for sellers only (and I think they now charge for over 30 transactions per mo.)<<
If a service is credit card based, the protection is usually slanted very much in favor of the buyer, due to very poor charge back rules that basically let a buyer charge back anything at any time. If it is bank account based, it is slanted very much in favor of the seller. However this does not mean that the buyer is out of luck. In the case of fraud, the buyer can still go to his bank and file an affidavit of fraud. There is still a window during which the payment can be stopped, just like a check. However, unlike a charge back, this can not be done frivolously and doing so can result in severe penalties to the buyer. Since the seller was paid via bank account, it takes some effort for a seller to commit fraud. So I believe that the ACH method does a pretty good job of balancing buyer protection and seller protection.
ACHEX provides this service for free. (I can't see the average seller getting over 30 ACH payments per month.) I don't recall any time when they promised any protection other than "no charge backs." Buyers can always check a seller's feedback. In almost every case where a buyer was taken advantage of by a seller, the buyer was foolish and should have realized that something was wrong with the deal. I get annoyed at folks who think others should shoulder the burden for their stupidity. We already have enough labels like "do not operate this vehicle while asleep" so the morons can't pretend they weren't warned.
>>Is there anybody that protects sellers from frivolous chargebacks but still gives buyers some kind of recourse in case of fraud?<<
As I said, I think any bank account based service, such as Achex, can do this. Payingfast and Bidpay also do this but their fees are somewhat high and are used primarily for foreign deals. Based on what I was told in my meeting with C2it and subsequent conversations, I believe
C2it provides decent safety for both as long as common sense was used. Western Union's Moneyzap also checks out the parties involved to some degree and claim they have never processed a fraudulent credit card or had a charge back. At 2.8% to the seller starting 5/15, they are now the most expensive service of this type.
