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I'm using Chase QuickPay to pay my rent. No fees for either of us and it works great, I don't even have a Chase bank account, but quickly set up an account and
by rcraft 15y ago
I'm using Chase QuickPay to pay my rent. No fees for either of us and it works great, I don't even have a Chase bank account, but quickly set up an account and linked it to my BofA account. Only problem is I believe the daily limit for payments is $2,000.
From this example, clearly some banks are figuring out how to sidestep the credit card companies and provide value. How would this and other similar products like the ING product not be serious threats to Dwolla?
- mahyarm 15y agoIssuing banks (the bank name on your credit card) get the majority of the credit card fee revenue, visa/mastercard and the requesting merchant bank get considerably less.
- rcraft 15y agoChase QuickPay has nothing to do with credit cards. I'm under the impression its all ACH transfers linking my checking account (at bofa) to my landlords (at chase).