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PayPal Alternative? - What's your opinion?

I'm thinking about opening an electronic checking account with ING that would allow me to avoid PayPal fees. Basically the account would allow me to send money to anyone as long as I had their email address. Once I direct the funds to go to that person, ING pulls the money from my account, and sends the recipient an email that money is available. The recipient clicks the link in the email, inputs their own bank routing number and account number, and - zip - the money is theirs.

Does anyone already use this? Or would you be willing to input your bank info to receive money in this way?
128x128grannyring
slikric3000
638 posts
 
ING blows, use Citibank.
marakanetz's avatar
marakanetz
5,473 posts
 
I have opened an account that is only for paypal transaction purposes. Nothing else is there. I would suggest to do the same with any of such medias
buconero117
2,311 posts
 
PayPal is all about 'buyer protection'. Seller's should look upon it as 'cost to sell'. None of the banking arrangements can provide the protection, so until that happens, stay with paypal if you are a buyer.
timrhu
2,779 posts
 
I have an idea, let's test this system. Grannyring, you put $500 out there for me and send instructions on how to retrieve it. After the check clears I will let the other Audiogon members know how well it works. :)
tgrisham
1,291 posts
 
Timrhu,

That's a great idea. In fact, all of you can send me your bank routing and account numbers and I can test the security of your banking systems!
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