Too bad that neither Balanced nor Stripe support sending money to people/companies that are not based in U.S. I guess I will have to wade through the Paypal Api !
Something, something Bitcoin!
Send money to a customer’s checking account using their debit card number
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Re: Send money to a customer’s checking account using their debit card number
#12The sensitivity of the traditional bank account and sort number combination is totally backwards, at least in the uk, the only things you can do with a sort code and account number is pay in funds (or set up a direct debit but that's why the direct debit guarantee requirement exists). I'd feel uncomfortable extending my data exposure with my card number when I just want to receive funds.
I agree. I'm very reluctant to give anyone my debit card number. If it fell into the wrong hands, my checking account could be wiped out for who knows how long. With my credit card I can at least dispute any charges before I have to pay for any of them.
Re: Send money to a customer’s checking account using their debit card number
#13Re: Send money to a customer’s checking account using their debit card number
#14Re: Send money to a customer’s checking account using their debit card number
#15Too bad that neither Balanced nor Stripe support sending money to people/companies that are not based in U.S. I guess I will have to wade through the Paypal Api !
We are actively working on that, too: https://www.balancedpayments.com/international-payments
Re: Send money to a customer’s checking account using their debit card number
#16Earlier quoted context omitted.
yep!
Are there plans to raise the $2500 limit at some point or is this some type of system restriction with Debit Card transactions? Also, is there a total daily limit?
No daily limits.
Visa limits the transactions to $2,500 per transaction. Other networks don't have as well defined of a limit. We set the $2,500 limit in the API to set a reasonable expectation. We'll learn more about the limits over time and document it here: https://github.com/balanced/balanced-api/issues/603
Re: Send money to a customer’s checking account using their debit card number
#17This is similar to Square Cash, no?
Re: Send money to a customer’s checking account using their debit card number
#18This is similar to Square Cash, no?
Balanced is offering a white-labeled API. Square Cash is a branded consumer product.
The mechanism of paying people using their debit cards is the same.
Re: Send money to a customer’s checking account using their debit card number
#19Earlier quoted context omitted.
Well done guys! Question though, if a debit can settle out of my checking account through my debit card (ie my Simple account) in minutes at a traditional merchant (gas station), why do you credits take 1-2 days to settle?
(ceo of Balanced) Under promise. Over deliver. That's the best way to answer that. :-) We have partnerships and direct ATM network integrations to clear in real-time for ~55% of debit cards. I didn't want to promise that until we've done enough volume to see that clearing time for ourselves instead of basing it what our partners have communicated to us. Once I have enough data/proof, I'll update the language to refle…
Totally fair! Thanks for the reply, I appreciate it.
Re: Send money to a customer’s checking account using their debit card number
#20This is similar to Square Cash, no?
Balanced is offering a white-labeled API. Square Cash is a branded consumer product. The mechanism of paying people using their debit cards is the same.
Any chance you can make it so I can send the balance of a debit card to another debit card, or bank account for $1?