Browsing Category: "Daily Spending"
Payment Processors the key to your money
Payment processors such as PayPal, AlertPay, Moneybookers and e-gold are key to making money online. Without them everything would be done with credit cards and things would get very confusing very quickly. PayPal is probably the largest payment processor at this point with around 150 million accounts by my best guess. They also are one of the oldest payment processors, being around since late 1999. They also have operations in hundreds of companies. PayPal is a great company to have an account with as you can do business with so many different people.
AlertPay is another payment processor based out of Canada. AlertPay, according to DNS records, was founded on October 30th 2005. Otherwise, their history is very difficult to track. They have no Wikipedia article of anything about it on their website. However, AlertPay is the payment processor of choice for many Paid to Click sites. Paid to Click sites are no longer allowed to use PayPal as a payment processor due to PayPal’s Terms of Service. While PayPal has blocked out this large source of income, AlertPay has welcomed it with open arms. The disadvantage with AlertPay is that many of the bank transfers take a long period of time to get to and from your bank account. In my experience, they have usually taken around 5 business days.
Moneybookers is a payment processor based out of the United Kingdom. They offer a different twist on payment processing. They allow many transactions considered to be “high risk”. These include paid to click sites, casinos and pornography sites. They have very stringent rules of money laundering. Also, there are no fees to the person who is receiving money. The downside once again with Moneybookers it that their support is not very good. They also have fees for everything, sending money, getting a check, using a credit card, getting a deposit in the bank. It is really overkill and if they would eliminate some of the fees it would be very nice.
Revolution Money Exchange or RME is a payment processor based out of Florida. They are very new launching in 2007. They offer $10 for every new account you get to sign up. They do require you to give out your Social Security Number, therefore only U.S. residents can have an account. They have very low fees with no send/recieve fees and free bank transfers. A check from Revolution Money Exchange costs $2.50. I have not had to call Revolution Money Exchange support, so I have no comment on their support. They seem like a nice payment processors overall.
The one payment processor I would avoid entirely is e-gold. They have been the subject of a federal investigation and nearly all of their transactions are considered to be high risk. They have been caught doing some illegal activities and they company itself is not very ready to help you if you have any problems. Use on of the four above, they at least have some policies in place to help you should you need it. I hope you enjoyed this review of different payment processors.
Friday Money Report
Because I just started the site today, not a whole lot I can do about the money situation.
SPENT:
$0 in cash
$13.50 in gift cards for a movie at the theater
INCOME:
$10, friend for gas money.
Reason behind PNDQ money
My name is Ryan Yaple and I am not that great with money. I am tired of struggling to know where my money goes to and I am tired of paying more than I should be. I have some great experience around the internet and I know some great ways you can get both money and save the money you already have. I also going to strive to keep track of all the money I have daily. I am saving my pocket change and using coinstar(yes it charges a fee) to put that money back into my pocket. I am also taking back pop cans, something I did not always do. Living in Michigan thats $0.10 per can and more money in my pocket. I am looking forward to finding new ways to keep money and get some more as I work with you guys!
