[s-cars] Fw: Paypal

[ccohen5]

It was Alexander who mentioned that he liked the C2it service, I think.

I have used it too with great difficulty.  Partly out of curiosity and
partly out of professional interest.  It is slow, the site is slow and as I
told everyone, it takes a week to make a bank transfer and 2 weeks for a
draft.  All from debit day to credit and knowledge of the credit.

But they do fx which is unusual.

Safer only if you have large volumes and therefore balances in transit or
being held in your account.

Colin
----- Original Message -----
From: <QSHIPQ at aol.com>
To: <brett at cloud9.net>; <ccohen5 at compuserve.com>
Cc: <s-car-list at audifans.com>; <quattro at audifans.com>
Sent: Thursday, May 02, 2002 9:30 PM
Subject: Re: [s-cars] Fw: Paypal


|
| Brett:
| If C2it makes you feel better, go get it.  Anyone that takes the time to
| research Citibank's holdings might smile at the thought that FDIC would
cover
| a Citibank closure.  Me, I'm a antifee kinda guy.  Grassroots, Paypal is a
| great system, and since it is consumer based (buyer and seller agree on
all
| conversion rates, and who pays the nominal fee), your risk may be higher,
but
| your fee isn't.
|
| Citibank is one of the biggest (if not the) banking institutions in the
| world.  Putting FDIC insurance behind a fee based transaction doesn't make
me
| feel better (YMMV).  Remember, this is the same institution that would
charge
| you the 40+USD for a wire transaction to the same ebay seller.  They have
put
| the big guns behind marketing the "better paypal", that doesn't make it
| better.
|
| You feel "exposed" keep a minimum balance.  The rest of the concept is all
| gravy.
|
| my /02
| SJ
|
|
| In a message dated 5/2/02 3:39:55 PM Central Daylight Time,
brett at cloud9.net
| writes:
|
|
|    At least when a bank shuts down, your deposits are insured AND it's
| YOUR account, not a pooled account that belongs to someone else(who
| no longer exists or is being pursued by creditors, etc)...with a
| private company, all bets are off; sure, they might break laws and
| get caught, but you'd never see your money again.
|
| Brett
| --
|
|