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Wide-Eyed Apprentice
 
Group: Forum Members
Last Login: 3/3/2008 3:52:03 PM
Posts: 6,
Visits: 9
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| Any power sellers familiar with MoneyExchange? It's a safe and secure way to receive payments from online buyers...and it's free for others to transfer money from their MoneyExchange accounts to yours. Anybody already currently using this service?
When life gives you lemons, you make lemonade. 
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Top Banana
Group: Forum Members
Last Login: 11/11/2008 12:55:36 PM
Posts: 314,
Visits: 383
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| I've not used it, but I have the same problem with other third party money exchange services; lack of proliferation or buyer base that uses them.
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Wide-Eyed Apprentice
Group: Forum Members
Last Login: 3/3/2008 3:52:03 PM
Posts: 6,
Visits: 9
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Gotcha soc.  Well, they're actually giving new users $10 for every person they refer to use the MoneyExchange service -- and $25 for every person that opens an account. And signing up is free. I'd think this would be a great way to get people you plan to do business with (like sales on eBay) to become users you can carry out transcations with. Thanks for the response. EDIT: ps I'll provide the link below for anybody that's interested in reading more into it- www.revmoney.com
When life gives you lemons, you make lemonade.
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Wide-Eyed Apprentice
Group: Forum Members
Last Login: 4/7/2008 5:09:22 PM
Posts: 8,
Visits: 15
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| So they are hoping to cut into Paypal?
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Top Banana
Group: Forum Members
Last Login: 11/11/2008 12:55:36 PM
Posts: 314,
Visits: 383
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I would assume that is their intention. If you think about it, it's a great way to make money. Just take a piece of a transfer while having almost no overhead.
But change is going to have to come from the buyers. I think this could begin by people using multiple accounts (i.e. accepting paypal, moneyexchange, AND bidpay), thereby keeping options open. Most buyers and sellers are not "politically" conscious in the ways of paypal, and most see it as, "why change when it works for me". Only when they get burned do they start looking for alternatives.
I wish moneyexchange the best of luck, even if I have my doubts about their future.
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Witch Doctor
Group: Forum Members
Last Login: 4/7/2008 8:11:56 PM
Posts: 37,
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I think moneyexchange is going to have a bit of a rough start because of how folks perceive the name. Generally, exchange, means a changing of one form of money for another. Say, Dollars to Pounds.
In transactions, the exchange is money for goods. So the word money before exchanges makes it appear the exchange is money for money.
Yet, I wish them well. Very well in fact. I do believe they are actually a bank operating as a US financial institution.
PayPal is not a bank. PayPal is a transfer company and not obligated to any government. Trusting it is trust in their reputation. So far, so good. But, if it ever goes bad, there is no recourse.
Sanity
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