jareau

19 ms·

1. 151.▲
   by jareau 14y ago

   hey seb, ACH = automated clearing house[1]. It's the US network for moving funds between two bank accounts. ACH is a push & pull system, but our API only supports push. [1] http://en.wikipedia.org/wiki/Automated_Clearing_House
2. 152.▲
   by jareau 14y ago

   hilarious!
3. 153.▲
   by jareau 14y ago

   Ah, I'll look into that.
4. 154.▲
   by jareau 14y ago

   What's the cost for FedWire?
5. 155.▲
   by jareau 14y ago

   agree, but it's a bit more than $10
6. 156.▲
   by jareau 14y ago

   just read your CV. WF, Singly, Cars.com, you must know the pain of payments, marketplaces, and APIs very well. Email me at my HN handle @balancedpayments.com
7. 157.▲
   by jareau 14y ago

   don't get me started!! I rage so hard at the US banking system. I laugh/cry every time I have to tell a customer we can't make deposits on weekends or holidays.
8. 158.▲
   by jareau 14y ago

   Thanks! We think of pain tolerance as a core competency. ;)
9. 159.▲
   by jareau 14y ago

   Yep. You'll notice a 'type' field on the bank account resource. You can set it to 'checking' or 'savings' https://www.balancedpayments.com/docs/api?language=bash#crea...
10. 160.▲
    by jareau 14y ago

    Yeah, unfortunately we can't speed up the process for bringing money into the system like we can for sending money out (i.e. next-day deposits). You'd have to fund your Balanced account first before sending payouts.
11. 161.▲
    by jareau 14y ago

    If you're in SF, I'll buy you a coffee and we can talk about how terrible the ACH network is. I have very strong opinions on this. We're just trying to jump on the grenade and make it bearable for everyone else :)
12. 162.▲
    by jareau 14y ago

    I tweeted at them. let's see if they reply :) https://twitter.com/balanced/status/288748033661870080
13. 163.▲
    by jareau 14y ago

    We're testing that functionality out right now. And trust me, we're well aware that this is a highly demanded feature. We've discussed it at length with our community on github: https://github.com/balanced/balanced-api/issues/2
14. 164.▲
    by jareau 14y ago

    MichaelGG, you're correct. We verify the bank accounts of the companies that register w/ Balanced to use our ACH API.
15. 165.▲
    by jareau 14y ago

    thanks wheaties. you can see a live stream of our IRC channel on our help and support page too: https://www.balancedpayments.com/help
16. 166.▲
    by jareau 14y ago

    Last I heard, Braintree discontinued their ACH API. Are you still using it?
17. 167.▲
    by jareau 14y ago

    That's exactly right, but we do offer credit card processing as well. Our processing and payouts functionalities can be coupled or used separately. Check out the docs if you've got more questions: https://www.balancedpayments.com/docs/api
18. 168.▲
    by jareau 14y ago

    We're always trying to speed up the flow of funds, which is why we offer next-day ACH transfers rather than 3-5 days. Also, our original product used to do instant account-to-account transfers, but that product couldn't scale. We may dust o
19. 169.▲
    by jareau 14y ago

    This end point only allows you to send money to a bank account.
20. 170.▲
    by jareau 14y ago

    Balanced Payouts is the name of the product. Balanced is the name of the company. balancedpayments.com is better for SEO than balanced.com. We'll add some more info the site to better call out the different products we offer. Thanks for the
21. 171.▲
    by jareau 14y ago

    One dimension I think is missing from your analysis is time. How long will it take to get the payment to a recipient? If one vendor can get payments to recipients in 212 countries, but it takes two weeks, is that more valuable than a vendor
22. 172.▲
    by jareau 14y ago

    Even "someone who does not sell online" (i.e. a low-margin retailer) has to pay a $15+ chargeback processing fee to the ISO/processor/networks.
23. 173.▲
    by jareau 14y ago

    I still think the brand around "tipping" can be preserved. I'd love to be able to use gittip to pay the guy who sings and plays guitar at my subway station every morning. But yes, twitter integration moves this away from devs only.
24. 174.▲
    by jareau 14y ago

    This seems somewhat Hashpay.com inspired: https://twitter.com/ffloat/status/269959712290791424
25. 175.▲
    by jareau 14y ago

    congrats to the entire CT team. Happy to be working with you guys!
26. 176.▲
    by jareau 14y ago

    Finally. This is amazing!!!
27. 177.▲
    by jareau 14y ago

    Balanced also does next-day payouts. Using Stripe, it takes 7 days for the merchant to receive the funds
28. 178.▲
    by jareau 14y ago

    Thanks! Take the source. Use it at home. Tell your friends.
29. 179.▲
    by jareau 14y ago

    skyfallsin, would this be considered an example of online-to-offline?
30. 180.▲
    by jareau 14y ago

    Here's a link to the actual status page: https://status.balancedpayments.com/