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PayPal Alternative? - What's your opinion?

I'm thinking about opening an electronic checking account with ING that would allow me to avoid PayPal fees. Basically the account would allow me to send money to anyone as long as I had their email address. Once I direct the funds to go to that person, ING pulls the money from my account, and sends the recipient an email that money is available. The recipient clicks the link in the email, inputs their own bank routing number and account number, and - zip - the money is theirs.

Does anyone already use this? Or would you be willing to input your bank info to receive money in this way?
grannyring
elizabeth
6,726 posts
 
The question: what's in it for ING: they have a service that in ten years could rival PayPal. They get to serve customers in a way that attracts business. They are initiating an easy for them electronic service, it cost's them nearly nothing, and have future potential to be a BIG thing someday. PayPal had to start with ONE CUSTOMER too.
I have no contact with ING, no do I bank there. It just sounds like a good service. And PayPal, which SUCKS bigtime, can get a bit nervous (hopefully) and stop being such b* (you know)
audiomax
161 posts
 
I have done a few transaction with ING. It's the best alternative to Paypal. Fast,reliable and no absurd fees like Paypal.
tvad
9,467 posts
 
I think it's a great idea. I wish Chase had that option.

I often use bank wire transfers, and each party has to provide their bank routing number and account number. It can get complicated if someone leaves out a digit, and fees result if the money has to be returned due to a clerical error. The ING method sounds much easier.

Still, though, as a buyer I prefer to make payments via credit card, even if I incur an additional Paypal fee. I like the protection and power of a charge back in the event things turn south.
audiomax
161 posts
 
Except for their high fees structure, there is nothing wrong with Paypal as far as security and verification process. It's actually very safe in my opinion.
kurt_tank
1,188 posts
 
I agree with those who say that Paypal sucks!

And, I agree with those who say that buying with Paypal is just fine too!

As much as I dislike Paypal, I will state that they take care of people who buy with Paypal, as they get the benefit of the doubt whenever a transaction goes bad. I certainly prefer to buy with Paypal via my credit card.

However, as a seller, I definitely state that I do not take Paypal, for that exact same reason, because as a seller you have all of the responsibility, and none of the rights. I am an honorable seller, and if something goes wrong, I will, (as I have in the past), make it right.

I prefer wire transfers myself, because I have an account with one dollar in it that I let people transfer money into, and as soon as the money is there, I take it out, and then complete the transaction. I don't have to worry about Paypal yanking money out of my account because of some scam artist.

My two cents worth anyway.
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