US banking money services competing with PayPal

[SMB-2525]

It seems the US banking sector is organizing itself to compete with Paypal.

Popmoney participating banks: https://secure2.popmoney.com/richux/faces/base/popmoney/prelogin/searchBank.xhtml

BOA, Wells and Chase have a system

Chase has its own

all of these are currently free to senders and recipients.

Is anyone using these services to buy or sell bitcoin (I am interested in buying a bit)?

All of these require both parties to register similar to Paypal. The sender sends the money to a registered phone number or email address. Not sure how they work for international transfers. I noticed them when I was preparing to transfer money to a friend.

[1715171394]

1715171394

[Jamacn]

PayPal is US too

[haploid23]

These types of online transfers has been around for a while. It's just as unsafe as using paypal when it comes to buying/selling btc.

It's only free if you transfer to someone with the same bank. Otherwise, there are fees higher than paypal. I believe Chase quickpay can ONLY be sent to another Chase account.

[Marbit]

So we're just talking about intra-bank transfers? They've been around quite a while. Chase Quickpay is the worst in regards to chargebacks, from what I've always heard. BOA and WF internal transfers are more difficult to reverse, IIRC and in my experience.

The ideal, if there are bank branches in both localities, is to do a cash teller deposit. There is no possibility of reversal that way.

[Sharky444]

Google wanted to compete with Paypal, and nothing came out of it.

[cinder]

Which one is cheaper for international payment and transfer?

And what is the requirement for the receiver in term of bank account?

[Mobius]

So we're just talking about intra-bank transfers? They've been around quite a while. Chase Quickpay is the worst in regards to chargebacks, from what I've always heard. BOA and WF internal transfers are more difficult to reverse, IIRC and in my experience.

The ideal, if there are bank branches in both localities, is to do a cash teller deposit. There is no possibility of reversal that way.

I would think that most bank transfers (internal transfers) would be more or less the same in regards to charge-backs. They probably need the same kind of evidence to initiate a charge-back. In my experience PayPal has a very low burden of proof for a charge-back.

[SanMerryDro]

Bitcoin will competing both PayPal and all US banks.

[tooil]

Paypal has Ebay advantage.

Until bitcoin has its own version of auction type platform, Paypal will still reign supreme.

[SMB-2525]

Paypal has Ebay advantage.

Until bitcoin has its own version of auction type platform, Paypal will still reign supreme.

Trust continues to be a problem. Paypal includes a form of escrow and chargeback protection. In bitcoin transaction, we use a manual escrow process or trust someone to go first. The lack of trust in the bitcoin world is indicative of the amount of fraud that goes on.