Chase QuickPay and similar instant payment services as alternatives to PayPal

Discussion in 'Miscellaneous Equipment' started by David A. Goldfarb, Jan 6, 2012.

  1. David A. Goldfarb

    David A. Goldfarb Moderator Staff Member Moderator

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

    https://www.chase.com/index.jsp?pg_name=ccpmapp/smallbusiness/online_banking/page/quickpay_faqs

    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.
     
  2. Richard S. (rich815)

    Richard S. (rich815) Subscriber

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    I think most large banks can do that online. I know Wells Fargo and Bank of America does.
     
  3. BradS

    BradS Subscriber

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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.
     
    Last edited by a moderator: Jan 6, 2012
  4. Photo Engineer

    Photo Engineer Subscriber

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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
     
  5. Richard S. (rich815)

    Richard S. (rich815) Subscriber

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    Online? Early 80's?
     
  6. EASmithV

    EASmithV Member

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    LOL
     
  7. David A. Goldfarb

    David A. Goldfarb Moderator Staff Member Moderator

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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.
     
  8. BrianShaw

    BrianShaw Member

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    What are you laughing at? "Online" existed ... data transfers at 300 baud. :laugh:
     
  9. sage

    sage Member

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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.
     
  10. M. Lointain

    M. Lointain Member

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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.
     
  11. BradS

    BradS Subscriber

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    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...
     
  12. c.d.ewen

    c.d.ewen Subscriber

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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 :tongue:

    Charley,
    who waited for the ALTAIR market to mature, before jumping in
     
  13. Richard S. (rich815)

    Richard S. (rich815) Subscriber

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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.
     
  14. Richard S. (rich815)

    Richard S. (rich815) Subscriber

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    My point here was online BANKING at that time...
     
  15. Photo Engineer

    Photo Engineer Subscriber

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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
     
  16. BrianShaw

    BrianShaw Member

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    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.
     
  17. BradS

    BradS Subscriber

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    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.
     
  18. KenS

    KenS Member

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

    Ken