| Discussion Forum: Thread 104721 |
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| | | Author: | lmeyer  | | Posted: | Dec 8, 2010 18:37 | | Subject: | New payment option - Billpay (your bank acct) | | Viewed: | 120 times | | Topic: | Suggestions | | Status: | Open | | Vote: | [Yes|No] | |
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| One option a lot of people have to pay bills are directly from their bank accounts,
and it is offered free by banks to their customers.
Some banks call it "internet" billpay, or "web" billpay. Whatever the name each
bank calls it, it is you setting up online payment of a bill, from your checking
account. The buyer sets the seller up as a company to pay a bill to, and with
the seller's bank account number and routing # (same info needed for a bank transfer),
is able to send money to you from their account. No fees to either of you to
do it - unlike a regular bank transfer.
Banks process online billpay transactions like a check, there could be a few
days before funds are totally released. Over a certain dollar amount they are
required to hold the funds a few days.
Since there isn't any fees for senders or receivers and it is a one-way process
(sender can only put money into receiver's account) and it is tracked, it seems
like a good method to send money to bricklink sellers. And since bricklink buyers
sending this way have proof money was sent from their account, and it is free
to use, it is a good thing for them as well.
Note that this right now only works for banks within the same country.
So I would ask that this option be added to the list of payment methods offered.
Call it "Online Billpay", or "Web Billpay" or "Online Bank Billpay", "Internet
Billpay", something like this. I think it needs its own option because it is
not the same thing as a traditional bank transfer.
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| | | | | Author: | drh | | Posted: | Dec 8, 2010 19:12 | | Subject: | Re: New payment option - Billpay (your bank acct) | | Viewed: | 71 times | | Topic: | Suggestions | |
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| In Suggestions, lmeyer writes:
| | One option a lot of people have to pay bills are directly from their bank accounts,
and it is offered free by banks to their customers.
Some banks call it "internet" billpay, or "web" billpay. Whatever the name each
bank calls it, it is you setting up online payment of a bill, from your checking
account. The buyer sets the seller up as a company to pay a bill to, and with
the seller's bank account number and routing # (same info needed for a bank transfer),
is able to send money to you from their account. No fees to either of you to
do it - unlike a regular bank transfer.
Banks process online billpay transactions like a check, there could be a few
days before funds are totally released. Over a certain dollar amount they are
required to hold the funds a few days.
Since there isn't any fees for senders or receivers and it is a one-way process
(sender can only put money into receiver's account) and it is tracked, it seems
like a good method to send money to bricklink sellers. And since bricklink buyers
sending this way have proof money was sent from their account, and it is free
to use, it is a good thing for them as well.
Note that this right now only works for banks within the same country.
So I would ask that this option be added to the list of payment methods offered.
Call it "Online Billpay", or "Web Billpay" or "Online Bank Billpay", "Internet
Billpay", something like this. I think it needs its own option because it is
not the same thing as a traditional bank transfer.
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http://www.bricklink.com/message.asp?ID=487077
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| | | | | | | Author: | lmeyer | | Posted: | Dec 8, 2010 20:13 | | Subject: | Re: New payment option - Billpay (your bank acct) | | Viewed: | 41 times | | Topic: | Suggestions | |
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| I saw that but I did not want to assume they are the identical thing. I think
if we call it what the banks actually call it themselves, people can more clearly
line up the option to what it is. None of the banks I know call it electronic
checks. They refer to it as "Online Billpay", or "Internet Billpay" or "Web
Billpay", depending what exactly they call their service. But "billpay" is always
part of it.
In Suggestions, drh writes:
| | In Suggestions, lmeyer writes:
| | One option a lot of people have to pay bills are directly from their bank accounts,
and it is offered free by banks to their customers.
Some banks call it "internet" billpay, or "web" billpay. Whatever the name each
bank calls it, it is you setting up online payment of a bill, from your checking
account. The buyer sets the seller up as a company to pay a bill to, and with
the seller's bank account number and routing # (same info needed for a bank transfer),
is able to send money to you from their account. No fees to either of you to
do it - unlike a regular bank transfer.
Banks process online billpay transactions like a check, there could be a few
days before funds are totally released. Over a certain dollar amount they are
required to hold the funds a few days.
Since there isn't any fees for senders or receivers and it is a one-way process
(sender can only put money into receiver's account) and it is tracked, it seems
like a good method to send money to bricklink sellers. And since bricklink buyers
sending this way have proof money was sent from their account, and it is free
to use, it is a good thing for them as well.
Note that this right now only works for banks within the same country.
So I would ask that this option be added to the list of payment methods offered.
Call it "Online Billpay", or "Web Billpay" or "Online Bank Billpay", "Internet
Billpay", something like this. I think it needs its own option because it is
not the same thing as a traditional bank transfer.
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http://www.bricklink.com/message.asp?ID=487077
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| | | | | Author: | legomadsteve | | Posted: | Dec 8, 2010 23:04 | | Subject: | Re: New payment option - Billpay (your bank acct) | | Viewed: | 34 times | | Topic: | Suggestions | |
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| In Suggestions, lmeyer writes:
| | No fees to either of you to
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I like that bit alot.
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| | | | | | | Author: | lmeyer | | Posted: | Dec 8, 2010 23:30 | | Subject: | Re: New payment option - Billpay (your bank acct) | | Viewed: | 36 times | | Topic: | Suggestions | |
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| In Suggestions, legomadsteve writes:
| | In Suggestions, lmeyer writes:
| | No fees to either of you to
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I like that bit alot.
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Apart from not being able to do this internationally, just between national banks,
still it seems great and as secure as a bank transfer, without the transfer fees.
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USA, Wisconsin
United Kingdom, England