Chase QuickPay and similar instant payment services as alternatives to PayPal

David A. Goldfarb

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Anyone using Chase QuickPay for buying and selling? Here's a description--

Dead Link Removed

Someone just used it yesterday to reimburse me for something, and it was quick and easy and didn't involve any fees. We both have Chase accounts in the same state, and I would assume this works only within the US, but the FAQ says only one of the participants in the transaction needs to have a Chase checking account.

Unlike PayPal, it doesn't offer buyer protection, and it doesn't allow you to accept credit cards. It's just for bank-to-bank transfers, but that could cover a fair number of situations, no fees required.
 

BradS

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Haven't used the Chase QuickPay but, Bank America has offered on line banking service to retail customers since at least the early 1980's. Their online banking services have a feature that allows a customer to send payment to virtually anybody. This is tied to a checking account.

I don't think Chase is doing anything particularly new or innovative. Theey're just advertising their services more loudly than the others.
 
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Photo Engineer

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If you know the interbank transfer numbers, you can transfer payments back and forth world wide very simply with no charge and no guarantee as David says. The only restriction is that if the sender gets the number wrong, or the name wrong, it bounces with a $50 charge.

PE
 

Richard S. (rich815)

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Online? Early 80's?
 
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David A. Goldfarb

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I'm sure the other large banks have some kind of online instant payment service as well, so I've updated the thread title.

You could always do interbank wire transfers, which can get expensive in the US, though they are common in much of the rest of the world. There are also bill payment services through banks, where you can pay regular bills like utilities and such.

Online instant payments like quick pay seem like they are set up more for the kinds of uses that PayPal addresses, enabling two ordinary people who are not operating a business to make a transaction via e-mail.
 

sage

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I'm not sure if its the same type of thing, but I always thought the Square card readers for the phones were an interesting way to go.
 

M. Lointain

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I have thought about this too. I have a Wells Fargo account and it is simple to send someone money that also has a Wells Fargo account. From what I have seen this is standard fare in Europe. As long as the parties know each other I don't see a problem with it. It is a lot easier than using paypal and there are no fees involved either. The only downside is you have to be able to trust the other person.

Anything to get rid of paypal is fine with me frankly.
 

BradS

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BrianShaw said:
What are you laughing at? "Online" existed ... data transfers at 300 baud.
Click to expand...

That's right. It was before "the WWW" and before the first "IMB PC". Prior to Microsoft Windows...
Back then, Microsoft made a compiler and that's about it.

incidently, I remember when we made the jump from 300baud to 1200baud...and then to 9600baud...
 

c.d.ewen

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Quite true, BradS. BBS predated WWW. I remember waiting for the evening, when the long distance rates went down, to download silly games from across the country.

I also remember booting CP/M onto my IMSAI from a cassette recorder. Kids today have it too easy

Charley,
who waited for the ALTAIR market to mature, before jumping in
 

Richard S. (rich815)

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I remember dialing in at 9600 baud, then 14400. When i got one of the earliest 28800 modems people online said i must be at lightning speed!!

In 92' I planned my 3-month backpacking trip around the world using my Dad's CompuServe on his win 3.1 system----black screen with green text, but got some great advice on some of the forums. The Well was the big thing then too.
 

Richard S. (rich815)

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Photo Engineer

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In the 80s, my boss at EK used an Apple ][ computer for on-line banknig! He used an acoustic coupled 300 baud modem. I helped him set it up.

PE
 

BrianShaw

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Photo Engineer said:
In the 80s, my boss at EK used an Apple ][ computer for on-line banknig! He used an acoustic coupled 300 baud modem. I helped him set it up.

PE
Click to expand...

Similar experience with me. Every time we turned the thing on and connected to "the mainframe", lots of money transferred from our bank account to theirs. I think we were using PDP8s at the time... and thought that was "state of the art". Oh... I guess it was.
 

BradS

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rich815 said:
My point here was online BANKING at that time...
Click to expand...

well, yes. it really did exist. not like today's experience of on-line banking of course, but one could check account balances, look at checking account activity and (I think?) make transfers.
 

KenS

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Photo Engineer said:
In the 80s, my boss at EK used an Apple ][ computer for on-line banknig! He used an acoustic coupled 300 baud modem. I helped him set it up.

PE
Click to expand...

... and Red Rider was 'king of the hill' when it came to hearing it pound through the phone line until it connected.

Ken
 
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