Dwolla ) alternative to paypal

[ehanes7612]

https://www.dwolla.com/

http://www.businessinsider.com/this...ards-wont-exist-in-the-next-few-years-2011-11

anybody use this?..sounds promising..exchanges directly from bank account and one time fee of 25 cents

 

[cnycharles]

paypal works fine for me, it's important to know 'who' it is that owns the company and what will happen with the information that's put on their site

 

[ehanes7612]

well, that goes without saying...paypal is not without security issues..and paypal charges a precentage of transaction to those receiving money..this could be a significant loss for some businesses,,Dwolla only charges 25 cents and its goal is to lessen the use of credit cards...which is great in my book

 

[cnycharles]

I applaud people not using credit cards. One thing that is helpful, however is that if you have someone get ahold of your credit card information and rack up bills, it's fraud of course and you aren't liable for those charges. In this case you still have your bank account intact. If someone gets ahold of your bank information and cranks things up it's still fraud and you aren't technically liable, but until you go through the time and expense of proving the fraud, your money is tied up and unavailable to you. If you can't prove fraud in the worst case scenario your money is gone, not some credit.

That said, paypal has both options. I can see the logic in only a small amount for each transaction through the other company, but it's unproven yet..... how trustworthy they are with your information. Better to wait and see how things sort out. Thing is, many people who send small funds don't ever have to pay a fee. If they need to pay for each transaction in the long run they will spend more money. Not a lot, but still will pay more. Maybe good for an ebayer....

 

[Lanmark]

Dwolla looks promising to me!

 

[ehanes7612]

I applaud people not using credit cards. One thing that is helpful, however is that if you have someone get ahold of your credit card information and rack up bills, it's fraud of course and you aren't liable for those charges. In this case you still have your bank account intact. If someone gets ahold of your bank information and cranks things up it's still fraud and you aren't technically liable, but until you go through the time and expense of proving the fraud, your money is tied up and unavailable to you. If you can't prove fraud in the worst case scenario your money is gone, not some credit.

That said, paypal has both options. I can see the logic in only a small amount for each transaction through the other company, but it's unproven yet..... how trustworthy they are with your information. Better to wait and see how things sort out. Thing is, many people who send small funds don't ever have to pay a fee. If they need to pay for each transaction in the long run they will spend more money. Not a lot, but still will pay more. Maybe good for an ebayer....

i dont think its unreasonable to ask for a 25 cent transaction fee without any other 'percentage' fees for a service that costs money .I think this is very reasonable...what i dont find reasonable is charging a 'fee' based on percentage of money involved in the transaction...paypal has not seen any competition , so they can get away with this...until now

 

[gonewild]

Paypal's percentage fee is only a little higher than merchant credit card fees. So from that stand point their charge is reasonable. considering you don't have to actually be a merchant to use Paypal. But in reality they should be charging a little less than visa/mastercard.

It will be difficult for another company to bump Paypal out of their position in the market because they have a monopoly with Ebay sales.

Even if Dwolla is successful they will in time charge a percentage too.

The worst thing now about Paypal is that they are starting to withhold 30% of the transaction total for a 90 day period (from new accounts). They say it is to cover charge backs but that is BS. They are just gouging people that depend on their service.

I do not like Paypal but have no choice as an online merchant but to offer them as a choice of payment method. Before we started offering Paypal we had frequent emails fro people saying they would not by online from anyone who did not offer Paypal.

Paypal is great for buyers and bad for sellers.

 

[ehanes7612]

Paypal's percentage fee is only a little higher than merchant credit card fees. So from that stand point their charge is reasonable. considering you don't have to actually be a merchant to use Paypal. But in reality they should be charging a little less than visa/mastercard.

It will be difficult for another company to bump Paypal out of their position in the market because they have a monopoly with Ebay sales.

Even if Dwolla is successful they will in time charge a percentage too.

The worst thing now about Paypal is that they are starting to withhold 30% of the transaction total for a 90 day period (from new accounts). They say it is to cover charge backs but that is BS. They are just gouging people that depend on their service.

I do not like Paypal but have no choice as an online merchant but to offer them as a choice of payment method. Before we started offering Paypal we had frequent emails fro people saying they would not by online from anyone who did not offer Paypal.

Paypal is great for buyers and bad for sellers.

Paypal needs competition...they are able to do the things they do because there is none...if you pay by credit card that's one thing but if you dont that's quite another ...i never pay by credit card and would rather the merchant not have to pay for percentage fees on a bank transaction...i now several marchants who wont take paypal because of their revenue losses..they still only take checks and money orders and perhaps Dwolla will chage a percentage later...but they dont right now...what they do in the future is irrelevant to the here and now

 

[Lanmark]

Paypal is great for buyers and bad for sellers.

That's certainly the truth in a nutshell! I love to pay with PayPal :clap: and I despise accepting payments thru them. Sellers pretty much get zero protection plus pay a boatload of fees.