Transfer Money

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August 7th, 2019 at 3:50:39 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 927
Posts: 10908
Quote: SOOPOO
No pay pal account, sorry. I will suggest you send my $10 to Nathan! She probably can use the disposable income for lottery tickets. Nathan, is there a way for you to somehow pick 286 or variations thereof? I have a feeling it will be coming up soon!


If someone doesn't use PayPal then how do people transfer money. Do you write checks? Do you use Venmo? ACH for bank account to bank account?

Wikipedia: Instant Payment
August 7th, 2019 at 4:01:13 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 119
Posts: 10021
Quote: Pacomartin
If someone doesn't use PayPal then how do people transfer money. Do you write checks? Do you use Venmo? ACH for bank account to bank account?

Wikipedia: Instant Payment


Crypto!
The man who damns money has obtained it dishonorably; the man who respects it has earned it
August 7th, 2019 at 6:24:53 AM permalink
terapined
Member since: Aug 6, 2014
Threads: 45
Posts: 4831
Quote: Pacomartin
If someone doesn't use PayPal then how do people transfer money. Do you write checks? Do you use Venmo? ACH for bank account to bank account?


I have 2 nephews
1 has paypal, the other doesn't
The one that does not have paypal, I mail cash in an envelope through the postal service
Been mailing him cash his whole life. Send a few hundred to him every Birthday and Christmas
Never lost or stolen
Kind of continuing a tradition. My Grandmother used to mail me a 20 dollar bill on my birthday every year
Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World"
August 7th, 2019 at 6:37:13 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 55
Posts: 7090
Bank of America sends me endless emails about Kelle which only requires the recipient to have an email account.
August 7th, 2019 at 6:52:34 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 927
Posts: 10908
Quote: Wikipedia Article on Instant Payment

Examples of instant payment services
A non-exhaustive list of systems available today, and in the near future, is the following:
United States, Zelle, available since 2016;
United States, Venmo, available since 2018;
United States, RTP - Real-Time Payments, available since 2017;

Comparison with digital wallets
In digital wallet based payment systems like Paytm, PayPal, Apple Pay, AliPay, WeChat Pay etc. users receive immediate notification of the transaction, but funds are transferred at best in the next business day. The settlement time depends on the underpinning payment method chosen by the customer, while for instant payment systems, the funds are transferred within seconds or minutes.


PayPal seems to go through in seconds or minutes for me, contrary to what the article states.
August 7th, 2019 at 6:55:26 AM permalink
SOOPOO
Member since: Feb 19, 2014
Threads: 7
Posts: 723
I pay all bills that are possible to pay with my credit card directly with a monthly charge to my card. Some do not allow credit cards so I pay them with a direct online withdrawal from my checking account. The rare company that does not do either of those I write an actual check. The amount of actual cash I use not including casino visits is very low.
August 7th, 2019 at 7:31:06 AM permalink
kenarman
Member since: Oct 24, 2012
Threads: 11
Posts: 1590
I never write cheques and I don't have a PayPal account. I don't trust companies to make direct withdrawals from my accounts since they can be very hard to get stopped if something goes sideways. I pay most of my bills direct from my bank account electronically. This is a simple, less than 1 minute, procedure. Is this a bank account feature not available in the US? Anyone in Canada with a bank account and an e-mail can also transfer money to someone else with a bank account and an e-mail address. This is very simple and is what I use to send money to family members. The process can also be used from business accounts now and used to pay busines bills, your ATM limits will apply to any transfers. All of these are free for most people and included in your monthly bank fee. For old farts like me they are completely free because my seniors rate bank account is free (even without a minimum balance).

Is Canadian banking that much more advanced than US banking or is electronic banking not trusted by most people in the US?
"but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin
August 7th, 2019 at 7:49:08 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 119
Posts: 10021
Quote: kenarman
I never write cheques and I don't have a PayPal account. I don't trust companies to make direct withdrawals from my accounts since they can be very hard to get stopped if something goes sideways. I pay most of my bills direct from my bank account electronically. This is a simple, less than 1 minute, procedure. Is this a bank account feature not available in the US? Anyone in Canada with a bank account and an e-mail can also transfer money to someone else with a bank account and an e-mail address. This is very simple and is what I use to send money to family members. The process can also be used from business accounts now and used to pay busines bills, your ATM limits will apply to any transfers. All of these are free for most people and included in your monthly bank fee. For old farts like me they are completely free because my seniors rate bank account is free (even without a minimum balance).

Is Canadian banking that much more advanced than US banking or is electronic banking not trusted by most people in the US?


On the first part, it amazes me the number of people who do not understand the difference between letting the creditor set an auto withdraw and you setting up an auto payment. Pull vs. push. Hard to stop vs. easy to stop. Even when I explain it half ignore the advice.

In the USA you have wire or ACH. A wire usually gets done the same day, but it has to go thru the Fed. Thus if you need money in CA and someone lives outside your district it has to travel from your bank to the regional Fed to the other regional Fed to their bank. This gets to be an issue when people need the money NOW. They think it is an instant thing.

ACH is a glorified check and takes a few days.

Banks vary in e-checks. You go to their site and set up the payments. Big payees have some kind of ACH arrangement and they post in 1-2 days. Others the bank mails a check. I had to set my dad as a payee for some ebay sales I made for him, he never noticed the route the check took. It came in the mail.
The man who damns money has obtained it dishonorably; the man who respects it has earned it
August 7th, 2019 at 7:55:39 AM permalink
kenarman
Member since: Oct 24, 2012
Threads: 11
Posts: 1590
Quote: AZDuffman
On the first part, it amazes me the number of people who do not understand the difference between letting the creditor set an auto withdraw and you setting up an auto payment. Pull vs. push. Hard to stop vs. easy to stop. Even when I explain it half ignore the advice.

In the USA you have wire or ACH. A wire usually gets done the same day, but it has to go thru the Fed. Thus if you need money in CA and someone lives outside your district it has to travel from your bank to the regional Fed to the other regional Fed to their bank. This gets to be an issue when people need the money NOW. They think it is an instant thing.

ACH is a glorified check and takes a few days.

Banks vary in e-checks. You go to their site and set up the payments. Big payees have some kind of ACH arrangement and they post in 1-2 days. Others the bank mails a check. I had to set my dad as a payee for some ebay sales I made for him, he never noticed the route the check took. It came in the mail.


All the payment types I listed in my OP are all pretty much instant. Sometimes I wish they took days then the 'bank of Dad' wouldn't be so easy to make a withdrawal from.
"but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin
August 7th, 2019 at 8:04:27 AM permalink
odiousgambit
Member since: Oct 28, 2012
Threads: 101
Posts: 2558
tons of people walk into a walmart or cvs or a multitude [no doubt] of others and send money for a fee. This seemed to me to be an exclusive at one time for Western Telegraph?
Today's Youth: Exacerbating when not Masturbating
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