4 ms·

Last time I checked they didn't do ACH, and were doing basically what stripe released today.

by troyk 13y ago

johne20 13y ago
I originally thought the same too, but found that it is in Beta. http://blog.balancedpayments.com/balanced-payment-method-pay-with-bank-ach/ http://blog.balancedpayments.com/balanced-payment-method-pay...
- zende 13y ago
  The Balanced Payouts service has been available for some time. Our ACH Debit (pay with bank account) is in Beta however.
  - swanify 13y ago
    Taking over this thread talking about your service is pretty awful - surely you can announce your features in your own right rather than riding on the back of Stripe's name?
    - zende 13y ago
      I completely agree. I apologize if it came off that way. We launched payouts in February: http://techcrunch.com/2013/02/14/balanced-payments-ach-api-omg/ http://techcrunch.com/2013/02/14/balanced-payments-ach-api-o...
    - erikpukinskis 13y ago
      For another opinion, I'm a Stripe customer, and I really appreciate Balanced talking about their product in this thread. They're not trashing Stripe, they're just talking about the differences between the products. It seems cordial and I would rather read about the two products together than in some later thread I'll probably miss.
    - JshWright 13y ago
      It looks like he was just adding some clarity to a discussion a few users were having. He didn't post any links, or 'announce' anything.
    - jeremy6d 13y ago
      This is an open forum and the comments about Balanced are entirely on topic.
  - veritas20 13y ago
    whoa...1% + $.30 for bank payments??? why would you need a percentage on an ACH transfer when most others charge a flat rate?
    - zende 13y ago
      We're still trying to figure out the right pricing and are discussing it openly (https://github.com/balanced/balanced-api/issues/2#issuecomment-11151801 https://github.com/balanced/balanced-api/issues/2#issuecomme...). The risk scales with the size of the transaction. Granted, the risk does not scale at the same rate as the transaction size, but we wanted to keep it simple in the beginning. What do you think about 1% + 30¢ with a cap?
      - troyk 13y ago
        Our customers are doing millions with ACH, most pricing of quality ACH providers is 0% + 25-40 cents and a $20/month service fee. So if the 1% was capped at $20, I could bring over a lot of business from low-risk non-profits.
      - jervisfm 13y ago
        What's the risk factor with large transactions ? Is it that they can be reversed or challenged ? I am not too familiar with the ACH system, but isn't it the case that once a transaction clears and a transfer completes, then that's it - there is no reversal process. The money is a bank account is real money after all, and once it's spent, it's gone for good. This is one reason I (and I suspect a few others) feel very uneasy connecting bank account(s) with a third party web service.
        zende 13y ago
        ACH has a dispute system like credits cards. Credit cards have a dispute window of 120 days. Personal bank accounts have a dispute window of 60 days. Business bank accounts have a dispute window of 3 business days. The problem with disputes on ACH debits is that the process is not formalized through a standard network like Visa or MasterCard. It's a mess operationally, and there's a near zero chance of winning the dispute. This becomes even worse because of the size of ACH transactions. We've reduced the risk by requiring trial deposits on any bank account that you want to debit, which is also a problem for a lot of our customers.

Last time I checked they didn't do ACH, and were doing basically what stripe released today.

by troyk 13y ago

Last time I checked they didn't do ACH, and were doing basically what stripe released today.

I originally thought the same too, but found that it is in Beta. http://blog.balancedpayments.com/balanced-payment-method-pay-with-bank-ach/ http://blog.balancedpayments.com/balanced-payment-method-pay...

zende 13y ago
The Balanced Payouts service has been available for some time. Our ACH Debit (pay with bank account) is in Beta however.
- swanify 13y ago
  Taking over this thread talking about your service is pretty awful - surely you can announce your features in your own right rather than riding on the back of Stripe's name?
  - zende 13y ago
    I completely agree. I apologize if it came off that way. We launched payouts in February: http://techcrunch.com/2013/02/14/balanced-payments-ach-api-omg/ http://techcrunch.com/2013/02/14/balanced-payments-ach-api-o...
  - erikpukinskis 13y ago
    For another opinion, I'm a Stripe customer, and I really appreciate Balanced talking about their product in this thread. They're not trashing Stripe, they're just talking about the differences between the products. It seems cordial and I would rather read about the two products together than in some later thread I'll probably miss.
  - JshWright 13y ago
    It looks like he was just adding some clarity to a discussion a few users were having. He didn't post any links, or 'announce' anything.
  - jeremy6d 13y ago
    This is an open forum and the comments about Balanced are entirely on topic.
- veritas20 13y ago
  whoa...1% + $.30 for bank payments??? why would you need a percentage on an ACH transfer when most others charge a flat rate?
  - zende 13y ago
    We're still trying to figure out the right pricing and are discussing it openly (https://github.com/balanced/balanced-api/issues/2#issuecomment-11151801 https://github.com/balanced/balanced-api/issues/2#issuecomme...). The risk scales with the size of the transaction. Granted, the risk does not scale at the same rate as the transaction size, but we wanted to keep it simple in the beginning. What do you think about 1% + 30¢ with a cap?
    - troyk 13y ago
      Our customers are doing millions with ACH, most pricing of quality ACH providers is 0% + 25-40 cents and a $20/month service fee. So if the 1% was capped at $20, I could bring over a lot of business from low-risk non-profits.
    - jervisfm 13y ago
      What's the risk factor with large transactions ? Is it that they can be reversed or challenged ? I am not too familiar with the ACH system, but isn't it the case that once a transaction clears and a transfer completes, then that's it - there is no reversal process. The money is a bank account is real money after all, and once it's spent, it's gone for good. This is one reason I (and I suspect a few others) feel very uneasy connecting bank account(s) with a third party web service.
      - zende 13y ago
        ACH has a dispute system like credits cards. Credit cards have a dispute window of 120 days. Personal bank accounts have a dispute window of 60 days. Business bank accounts have a dispute window of 3 business days. The problem with disputes on ACH debits is that the process is not formalized through a standard network like Visa or MasterCard. It's a mess operationally, and there's a near zero chance of winning the dispute. This becomes even worse because of the size of ACH transactions. We've reduced the risk by requiring trial deposits on any bank account that you want to debit, which is also a problem for a lot of our customers.