Why using Paypal when a good FREE alternative exists?

[fantasyl]

Hi to all the board members. I'm a noob here, but not a noob everywhere , and was searching for ebay alternatives when I read about hibidder.com
They are a very respectable site, lot of users, great customer care, almost 100% free from scammers (as was EvilBAY a long long time ago).

I read about their suggested way to do money transactions, and I wonder why it's not used alot in the USA (and here on the boogie board, too).

https://www.revolutionmoneyexchange.com

They are linked to a bank, seems very trustworthy as the money are kept in a physical bank, and they require Social Security Number and other real data to open an account.
Unlike paypal they are completely free when sending and receiving money between account holders.....wow!

There is limit of 1000$ for transaction/for day, but you can transfer 1000$ on a day and another 1000$ on the next day, and the amount of used gear above 2000$ is really incosistent, AFAIK.

I'm not in anyway affiliated with them, and in fact I tried to open an account, but I live in italy, and international users are not allowed at this moment
If you live outside USA and/or are interested ask them (as I already did) to allow international user to open account (but verifying ID in a safe way!), and then we'll all have a great way to exchange money all over the world.

Pro:
100% FREEE when transferring money from and to your bank account
100% FREEE when transferring or receiving money from and to another revolution account holder
1000$ limit per day (good security reason)
100% safety for sellers,when money arrives, you receive money, and buyer cannot do anything to claim it back, other than a legal action.
Good safety for buyers, when you send money to someone, you know the money are sent to a real person, not to a non-existent nigerian scammer somewhere in africa (at least for now!).

Cons:
Transfer from and to your bank from the revolution account takes 2-3 days (as a normal wire transfer from bank to bank)
No credit card as far as I know (maybe wrong)
2500$ maximum allowed funds make large transfers of money not practical and not easy to do.
No way for buyers to claim back their money if seller does not ship or goods are DOA or damaged.
Some fees I did not completely understand regarding check and other paper documents (too much to understand for my non financial english)

Anyone used them for money transactions?
Hidden fees?

Give me your opinion, and good luck with you sales/purchases :wink:

Rob

 

[AustinK]

and they require Social Security Number and other real data to open an account.

This is why it is a little sketchy. Also that there is a limit is a bit inconvenient. Also all of the cons you listed will keep me with paypal.

 

[fantasyl]

Sorry for the ignorance, but I'm not american.......

Do americans give their SSN when opening a bank account?
Is it a safe way to be sure the person is real and it's not a fraudster/scammer registering (in other words.......can anyone have access to your SSN and register with your data?)?

If the answer is yes to both, well, I guess it's normal for them to ask this data, and they're only trying to be sure you are not some nigerian scammer.

Paypal WAS great, but more than once I was not satisfied with their customer care, their fees went up and up, and now is becoming more and more scammer friendly.....that is a bit too much for me to stay with them.

The limit is right, IMHO. How many >2500$ online purchases do you do usually? I hope few ! The 1000$ limit it's not a big deal for my needs, as is resetted overnight, and you could send 2000$ in few hours.....

 

[AustinK]

Is it a Bank? Because if it is that is a different story. I thought it was just a money transfer service.

If it is a bank i would be more inclined not to use it because then scammers would have direct acess to your funds if they were to obtain your info.

 

[fantasyl]

AFAIK they are an online service, but linked to a real bank (but this is, and is meant to be different from the bank you use for your savings......)

Funds on every revol.account are limited to a max of 2500$.

I don't see the problem, as if I would use the service this way:

1) I buy a goods for a 900$ value
2) I transfer 900$ from my REAL bank account to my revolution account
3) I send the money for free to another revolution account holder

If scammers obtain your revol.info they have 0 funds to gain :wink:

And, anyway, if a scammer collects your paypal data, then he has access to your funds, your credit cards and more and more useful stuff (to steal your money)!!!

 

[AustinK]

If it works like that it sounds safe. Hopefully the have a good security service because at least for me paypal calls to verify purchases is they are substantial.

 

[fantasyl]

....paypal calls to verify purchases is they are substantial.

what a difference.....PAYPAL here in italy never called me (and I spent more than 1000 EUROS = 1600$ on a transaction), their number is not toll free (as it was before), and their customer care is lacking....to say at least :roll:

Anyway.......no revol. users out-there?

 

[boogieslayer]

below the link is from the Better Busniess Bureau Wesbite review of Revolution money exchange
( heres the bbb link for the search i did - http://www.bbb.org/west-florida/business-reviews/financial-services/revolution-money-in-saint-petersburg-fl-90043445)

Customer Complaint History
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB processed a total of 21 complaints about this company in the last 36 months, our standard reporting period. Of the total of 21 complaints closed in 36 months, 3 were closed in the last year.
Advertising Issues
Resolved
1 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.
2 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.
Administratively Closed
1 - BBB determined that despite the company's reasonable effort to address complaint issues, the consumer remained dissatisfied.

Billing or Collection Issues
Resolved
2 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.

Delivery Issues
Resolved
2 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.
1 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.

Service Issues
Resolved
1 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.
3 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.
Unresolved
1 - Company failed to resolve the complaint issues through BBB voluntary and self-regulatory process.

Customer Service Issues
Resolved
1 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.
3 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.

Product Issues
Resolved
1 - Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.

Refund or Exchange Issues
Resolved
2 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.



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