101–110 of 151 posts
It is true that Dwolla are not professional but it never was meant to be a real business, it was always intended as a spotlight for Ben Milne. Nothing wrong with that, ego has driven much of civilization but you certainly should build Dwolla into actual business plans, it won't be around much longer.
America is a funny place. You can get 127 varieties of salad dressing at your local supermarket, but you can't pay for it except with cash, unless you want to be hit with credit charges, and when you do the prices are not as marked. Australia, in sharp contrast, has laws requiring that the price on the shelf matches the price at the register -- some of them even allow you to get incorrectly-priced items for free, alt…
I haven't ever been subject to differing costs between credit/debit card and cash prices, with the sole exception of the liquor store. Are there specific stores in the US that do this?
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Every bank I've opened an account with has asked for photo id...
Interesting, none of my (four) banks have asked for photo ID. Two of which were started online (but are still a traditional bank).
When I was 15, I was able to open a checking account by mail with no ID. Today, every bank I use lists government-issued photo ID as a requirement right on the website before you can start applying.
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This is something about the US banking system that I find completely crazy. Other banks/companies can 'pull' money from your account. Where I come from, all bank transfers are 'push' as far as I'm aware. Ie. the sender of the money has to specifically authorize an amount to be sent. In the US it appears that in a lot of cases, the receiver of money can specify the amount they want to receive and simply pull it from t…
ANY company can do this including your employer. A dogshit group of villans I used to work for pulled money from an employee's bank account that had been deposited from a paycheck because he took two weeks vacation to train for a new job. Was it legal? Almost certainly not, but it happened.
The other day I was trying to make some kind of transaction with Dwolla, and before I could, they asked me a series of questions to verify my identity. The questions had obviously been pulled from a background check based on my name that I didn't know they had done. It was asking me what the price of a house was when I originally bought it, and what street I lived on in a given time period. Outside of this being real…
My understanding is that Dwolla is trying a fairly unusual approach to handling fraud, which is that they pay out of their own pockets for fraud (instead of kicking it down the line as all other financial institutions do) but this requires that they actually prevent fraud, not just identify it after the fact. And the cost of really stopping fraud turns out to be something that many people do not feel comfortable payi…
I understand the financial industry is extremely locked down, but I was hoping itd be a little easier to accept payments now-a-days
Does the U.S. really not have customer-to-customer wire transfers from regular banks? I'm continually amazed by how terrible your banking system is.
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Credit cards have fees -- interest, account-keeping fees, and so on. It's why banks like them.
Only if you don't pay them off immediately, or you agree to an annual fee for specific benefits.
> While there are no really good alternatives to moving money domestically except via check Does the U.S. really not have customer-to-customer wire transfers from regular banks? I'm continually amazed by how terrible your banking system is.
> While there are no really good alternatives to moving money domestically except via check Does the U.S. really not have customer-to-customer wire transfers from regular banks? I'm continually amazed by how terrible your banking system is.