New Online Payments System

Those of you who accept money through web sites may be interested in Revolution Money Exchange, a new competitor to PayPal recently launched by First Bank SD. An interesting point here is that Revolution is (currently) not charging you to receive money. Also, of course, they are a real bank, with all of the regulatory oversight that implies. I have no idea if it will take off, but they are doing an interesting promotion - $25 free to anyone who signs up today.

Doesn't look like I can post the link here, but there are more details on my blog: http://www.cheryl-morgan.com/?p=1028

8 Bizniks have posted replies

Posted by Andrey Rozmaity, Kent, Washington | May 14, 2008

Cool! Thanks!

-Andrey

Seattle Business Directory
Posted by Andrey Rozmaity, Kent, Washington | May 14, 2008

=[

They wanted my SSN... okay fine... and then they wanted me to fax my license and a copy of my utility bill.

No thanks....

PS: They soft checked my credit?! When the website said they wouldn't run a credit check. I don't need any inquiry marks on my credit score!

-Andrey

Seattle Business Directory
Posted by Cheryl Morgan, Fremont, California | May 14, 2008

Hmm, that's odd. I just put my SSN in and it all went through fine. A bunch of my friends have signed up too and none of them complained - I'm sure they would have been as upset as you if they'd been credit checked. If I'd seen any of that sort of thing, I would have mentioned it. Sorry.
Posted by Arthur Torelli, Seattle, Washington | May 15, 2008

Andrey's experience sounds right to me. That's how real banks do it. I bet if all of your friends checked they might find the credit check. Also Andrey; did you sign up for a bisness account? That's different then something personal. Art T.

Helping you get money.
Posted by Andrey Rozmaity, Kent, Washington | May 15, 2008

They told me that I moved within the last year and that's why they needed that extra info. I haven't moved in the last 2+ years.

They are a real bank. Bank of America never asked for my utility bill. ;]

It wasn't a business account.

-Andrey

Seattle Business Directory
Posted by Arthur Torelli, Seattle, Washington | May 16, 2008

Its a lot easier to set up an account face to face. B of A didn't take your utility bill but they did take a copy of your drivers license. Art T.

Helping you get money.
Posted by Keith Gormezano, Seattle, Washington | May 16, 2008

I had no problem signing up for the Revolution Money Exchange, an online payments business (free for both senders and receivers) last month. I did get my $25.00. The company was founded by Steve Case of AOL fame.

Interesting, they did not ask for any proof of identity other than my social insecurity number, driver's license, and my bank account numbers to link the account with.

I am now mentioning on my Craig's List ads that I am willing to accept money through them. A much better deal than PayPal or MasterCard or Visa.

Also, as a point of order, if you click on the above link I provided, I do not get paid any money for referring you.

Dr. QuickBooks: I make house calls to teach you.
Posted by Andrey Rozmaity, Kent, Washington | May 16, 2008

Now I'm a bit tempted to give it a shot ;]

-Andrey

Seattle Business Directory