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Can you explain like I'm 5 why ACH debits won't work and Debit Cards will? It must have nothing to do with fees, so you're saying you assume too much risk becau

Can you explain like I'm 5 why ACH debits won't work and Debit Cards will? It must have nothing to do with fees, so you're saying you assume too much risk because you'd only have 2 days to reverse the transaction? I don't know what that would be true - because you guys aren't compliant with Regulation E or something? You should have 60 days. Edit - reading some of the comments perhaps it's about convenience - 4-5 day wait, I don't know my account number, etc.

immad 13y ago
People have their debit cards in their pockets. ACH account details are not as readily available to most people.
- tomasien 13y ago
  Agreed - I was trying to figure out whether or not this was actually the problem. That's the problem I'm setting out to solve with ACH, so I was trying to see if myself and Balanced are at least seeing the same customer problem.
rmanisha 13y ago
Note: I work at Balanced I think you mean ACH credits (payouts) and not ACH debits. The push to debits cards feature is less about the risk and all about the convenience. The process of collecting bank account information from sellers/merchants has proven to be cumbersome for our customers for three reason: 1. People rarely have their checkbook on hand 2. People are less willing to provide that information (Whereas people are more comfortable giving out debit card information since they can always change the debit card number as an added security. It is also much easier to file a chargeback on a debit card transaction) 3. Bank account information cannot be validated in real time thus, increasing payout delays cause by typos. I may have completely missed the mark on your question, if so please correct me.
- tomasien 13y ago
  Not at all, I get it. This, and I'm just trying to give feedback, wasn't a very well written article for someone who doesn't already understand the problem. After I understood the problem, the post was much, much easier to understand. If you'd like a method for processing ACH where those three things aren't a problem, gimme a holler - tommy@paidez.com

immad 13y ago

People have their debit cards in their pockets. ACH account details are not as readily available to most people.

tomasien 13y ago
Agreed - I was trying to figure out whether or not this was actually the problem. That's the problem I'm setting out to solve with ACH, so I was trying to see if myself and Balanced are at least seeing the same customer problem.

rmanisha 13y ago

Note: I work at Balanced I think you mean ACH credits (payouts) and not ACH debits. The push to debits cards feature is less about the risk and all about the convenience. The process of collecting bank account information from sellers/merchants has proven to be cumbersome for our customers for three reason: 1. People rarely have their checkbook on hand 2. People are less willing to provide that information (Whereas people are more comfortable giving out debit card information since they can always change the debit card number as an added security. It is also much easier to file a chargeback on a debit card transaction) 3. Bank account information cannot be validated in real time thus, increasing payout delays cause by typos. I may have completely missed the mark on your question, if so please correct me.

tomasien 13y ago
Not at all, I get it. This, and I'm just trying to give feedback, wasn't a very well written article for someone who doesn't already understand the problem. After I understood the problem, the post was much, much easier to understand. If you'd like a method for processing ACH where those three things aren't a problem, gimme a holler - tommy@paidez.com