Question about sources other than paypal

[trentfromtoledo]

See my comments, in-line:

No, the thread is actually about ALTERNATIVES TO PAYPAL.

Your reading comprehension is REALLY BAD. Maybe if I type in capitals you will get the point.

Happy we can agree about something, using paypal friends and family as a regular means of doing business is actually THEFT.

TFT

 

[iusedtoberich]

FYI to everyone, Venmo is actually owned by PayPal. There are no receiving fees and no sending fees when that I’ve come across in 4 years of using it in a business capacity of collecting rent as a landlord, and even paying contractors as a landlord.

PayPal also has no fees if the sender sends from their PayPal balance or linked bank account. Although, there might be a monthly limit for the receiver before PayPal considers it a business. I know there was 10 years ago, and we used to run into it in the action room. But since so many competitors came out for free, I’m not sure the limit is still there, or if it is, maybe it’s higher.

 

[Bob Jewett]

FYI to everyone, Venmo is actually owned by PayPal. There are no receiving fees and no sending fees when that I’ve come across in 4 years of using it in a business capacity of collecting rent as a landlord, and even paying contractors as a landlord. ...

Before I search the webs, do you happen to know what Venmo's source of income is? They still have to pay their light bill.

 

[ideologist]

Before I search the webs, do you happen to know what Venmo's source of income is? They still have to pay their light bill.

They charge a fee to withdraw the money to your bank account or debit card

Venmo also saves money because there is no liability, every transaction is final. No chargebacks or disputes allowed, it's like Friends and Family at all times

 

[iusedtoberich]

Venmo only charges a fee to withdraw the money if you want it instantly. If you don't mind waiting 2 or 3 business days, its free to withdraw into your linked bank account.

I think all the services have "free" and "instant" transfers. If you don't mind waiting a few business days, they are all completely free. They use your bank routing and account number. It pretty much like sending a paper check in how the bank sees it. That is why its free when both sender and receiver have any of the services linked to their bank account.

Now when you add in "instant" transactions, credit card transactions, protection from scammers, etc, that is when you are paying a fee.

 

[atlas333]

Before I search the webs, do you happen to know what Venmo's source of income is? They still have to pay their light bill.

I suspect that like lots of "new" business' they "eventually" will make money selling the DATA they get from tracking all the customers transactions.

Here is my rant on another subject.

UBER LOSES about a BILLION dollars per QUARTER!! They can't make money giving rides to people at the rates they charge BUT they plan on monetizing the customer DATA they have and the tracking data basically like GOOGLE does. Mostly google does not actually charge for most of the things they do.

I try hard to avoid doing business with companies like google and uber who make their money with my data!
Rant ended.