PayPal Alternative? - What's your opinion?

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.

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.

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.

If you pay thru PP using an e-check from your bank acct.,neither you or the seller has to pay fees.I have used this method several times with no problems.As far as not wanting to put your acct. info out there,it's too late.If you write checks,use a debit/credit card or paid by any electronic means(auto bill pay,etc.),your info is in cyberspace already.Unscrupulous people will find your info if they want to bad enough.These are just my opinions so if you disagree,that's fine.Good evening to all.

Every bank does this now. It's called wiring money. The difference as you describe it is that ING is not charging a fee where most banks charge $20-$30 to wire money. However I suspect they are charging a fee somewhere in the fine print and you have not been able to discern it yet.

Personally I am doubtful most users will ever be comfortable with giving you their bank info. Yes Grannyring you are correct about the check information on the check, but I think you'll be pushing a rock up hill trying to convince many that it's OK to give that info out.

Paypal charges too much for what they do in relation to what we do. 3.5% is inconsequential when you transact $10, but it becomes substantial when it is $10,000. They need a sliding scale payment system, but since they're making money hand over fist I don't see that changing unless a competitor comes into the market.

For me I either accept paypal if the buyer is willing to eat the fee, or I encourage the buyer to either write a personal check or get a cashier's check from a bank I have here. I specifically have a Chase account simply because it is the biggest bank with branches in the most places. If the buyer uses Wells Fargo, or Chase, or Bank of America, etc. I can simply take their personal check in to that bank and cash it. No waiting. If I am the buyer I find out who the seller banks with, or has access to if it's some small bank, and then I get a cashier's check from that bank. No waiting.

One last thought and then I'll shut up. Paypal has an e-check feature that transacts money for a $5 fee. The catch is the $ has to either be in the paypal account, or come from a bank account (as the CC company charges 3% which is why Paypal specifically encourages you to pay with a bank account, and makes it difficult to select pay by credit card). It also take 5-7 days to fully transfer.

Mike