Dwolla

This is an interesting "Paypal" alternative. This 28 yr old guy setup an account that works almost identical to Paypal, but no matter the amount of the transaction only charges $0.25 per transaction.

I came about it from a local guy that had a signifigant other pass and he setup up an account to receive funds through this.

The initial transaction I did, took a bit longer to process than preferred (about 5 days) but that after talking to the bank was more the banks issue than DWOLLAs issue. The bank needed to verify more items with the first transaction.

There are apps available also. One of the things about the app I like is that when I go to a store the app's GPS system will pull up the stores I am near and ask for payment to be sent to them. Neat little feature. I have not used the app yet, but others I work with have and like it.

Anyway, here are a couple sites that give info on it.

www.dwolla.com

Talk to the owner of the company.

http://articles.businessinsider.com/2011-11-11/tech/30381380_1_credit-card-interchange-fees-paypal/2

Thought this would be a cheaper way to send payments on the boards. Saves the 3% paypal fees.

Still been using it? I'm going to start. The idea seems pretty good.

Paypal offers peer to peer transactions, free from your checking acct. But Ebay and Paypal are the same entitiy and Ebay is where this kind of service is needed. But its good to have competion and I hope they are the alternative.

Mike,

Used it to pay for a few things. More and more are starting to use it, so as far as paying a person its getting easier, because more people have it. Paying a business is a breeze with it. Most businesses in this area are using it, but its based out of here so............

ricardoa1 said:

Paypal offers peer to peer transactions, free from your checking acct.

Click to expand...

Other than working with Paypal, the main issue I see with using them for that is they have their system setup for fees. If you want to do a transaction with someone you have only a very limited relationship with (i.e. selling something on craigslist) you have to rely on the purchaser to check all the right boxes, or make the right selection so you and they don't incur possible high fees.

Thus far Dwolla seems like a better deal. .25 fee for receiving money, and that's the only fee anyone should ever see. Nice and simple. Not necessarily for everything, but certainly an option for transactions you might normally handle with just cash. If you want the protections from your credit card, then you have to do paypal, and live with the costs of those protections.