Need someone to send me $1500. Could use Square, but 3.5%... pfft. Options?

[jdc]

thanks all

[N-OS X-tasy!]

GGD wrote:
Can they walk into a branch of your bank in their city and deposit it into your account via the teller window?

Or transfer it electronically from his account to yours? I have done this for both my mother and my sister, neither of whom bank with the same institution I do.

[N-OS X-tasy!]

rjmacs wrote:
[quote=jdc]
Might just eat the $50. Fuck credit card companies and their "fees"

It's like they want to get paid for providing you a service. Jerks.
It takes just as much effort on the credit card company's part to transfer $5 as $5000. Given that fact, why does the CC company charge so much more for the latter transfer?

Fuck credit card companies and their fees.

[N-OS X-tasy!]

thermarest wrote:
You can do the photo deposit thing with an image of the check. If your bank only has an app-based system, then you would have to print on to paper and then photograph the paper.

My bank has a browser based system. I just select the jpeg files (front and back) of the check and done.

Either way, the check images get converted to tiny, low-res black and white images by the bank so quality is of little issue. Computer just needs to be able to interpret the account number, check number, etc.

Just my opinion, but boy is there a seemingly high potential for fraud there.

[Gareth]

N-OS X-tasy! wrote:
It takes just as much effort on the credit card company's part to transfer $5 as $5000. Given that fact, why does the CC company charge so much more for the latter transfer?

Because it costs them a lot more when they have to deal with a $5000 fraud claim than a $5 one?

[N-OS X-tasy!]

Gareth wrote:
[quote=N-OS X-tasy!]
It takes just as much effort on the credit card company's part to transfer $5 as $5000. Given that fact, why does the CC company charge so much more for the latter transfer?

Because it costs them us a lot more when they have to deal with a $5000 fraud claim than a $5 one?
FTFY.

By that logic, the majority of the transfer fee on a$5000 transfer refunded when it turns out to be a legitimate transaction.

[wurm]

Maybe I'm missing something, but if they have a checking account with online access (and bill pay), can't they just send you the money the same way they'd pay a bill. Set you up as an account and make a payment.

[Gareth]

wurm wrote:
Maybe I'm missing something, but if they have a checking account with online access (and bill pay), can't they just send you the money the same way they'd pay a bill. Set you up as an account and make a payment.

Bill pay is often done by mailing a check, so it wouldn't be any faster.

[A-Polly]

Venmo, with bank acct.. debit or credit card. The sender gets charged 3 percent to use a credit card, but receiving is free.

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Major Debit Cards
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Check if yours is free.

To help cover processing costs, there is a 3% fee per payment for credit cards and non-major debit cards.
Receiving money on Venmo is always free.

https://venmo.com/about/fees/

[$tevie]

I've used Cash a number of times, although never for more than $600. But it was free and fast and the money has always been available next day despite their saying it would take three days.