Question:
<snip re: c2it Yup, just like the others. That was the conclusion I drew when I read their TOS two weeks ago. No thanks…
I doubt that any company in its right mind will run a money-transfer business without really nasty terms. (Check the details of your lease, mortgage, car loan, etc., and you’ll find equally scary clauses.) The question will be how frequently and how intelligently they actually exercise those rights in practice. I have no problem with a service having the right to freeze and seize an account, if they only exercise this right when the account turns out to be part of an identity theft/stolen credit card ring. I have a big problem when a service starts freezing entire accounts at the drop of the hat, just because there’s been a $10.00 chargeback. GK
Response:
5. Citibank reserves the right to amend the terms of this c2it Agreement at any time, with or without prior notice to you. " Yup, just like the others.
Number 5. That’s the BIG one – somebody sent me $$ against my will thru PooPal (I was using my acct as a buyer) and I found that "suddenly" due to a change in policy (within the last 3 days, AND without any notification) I couldn’t retrieve my balance without "verifying" my acct by providing info that was none of their damn business and hadn’t been required previously for any withdrawals. Luckily, by simply cancelling the acct, I was able to get a check for my balance.
Response:
– Hide quoted text — Show quoted text – Citibank the worlds largest bank has just started a similar service. They only charge $2 per transaction and it’s free for the first three months. Plus you get $10 for the first time you use it. Check it out and lets hear some comments. They can send Paypal and Billpoint down the tubes real fast with their credibility and assets. https://www.c2it.com/C2IT/aoltc_off.jsp A problem area for many PP detractors has been the question of whether or nt PP can access your bank account. Soooo… "6. If you list a Non-Credit Account, you will be asked to provide Citibank with a separate authorization to access such Non-Credit Account in accordance with our instructions. " "10. If the recipient is not a member of c2it, , he will be invited to enroll in c2it when he responds to the e-mail informing him that you have sent money to him. In order to pick up the money that you have sent ("Pick Up Cash"), the recipient must be a member of c2it or a member of c2it.com. " "2. You agree that you may not submit Send Cash requests totaling more than $500 per day via c2it. You also agree that you may not submit Send Cash requests totaling more than $1,000 over any four (4) consecutive days via c2it. 3. You agree that you may not Pick Up Cash via c2it totaling more than $1,000 per day or totaling more than $2,000 over four (4) consecutive days. " And a biggie (according to some): "10.You acknowledge that once money is picked up by a recipient it is non-reversible and non-refundable. " It looks pretty much like PP and BidPay to me. The rate structure is simpler (for now), and Citi guarantees nothing: "IV. RIGHTS/RESPONSIBILITIES OF CITIBANK 1. Citibank reserves the right to verify any of the information you provide and to check your credit history. 2. Citibank reserves the right to hold funds beyond the standard distribution periods for any transactions it deems necessary. 3. Citibank shall have the right to terminate your membership in c2it, reject or reverse any transactions you initiate, and/or restrict or condition your right to send or receive money at any time and for any reason, including but not limited to (a) providing us with inaccurate or falsified information about you or your Accounts; (b) excessive use of c2it; (c) using someone else’s c2it Membership; (d) disclosing your password to anyone; (e) using c2it (directly or indirectly) for any unlawful purpose; (f) suspicious activity; and (g) tampering, hacking, modifying or otherwise corrupting the security or functionality of c2it.
I like "suspicious activity" Even the police do charge people with "being a suspicious person" any more. 4. Citibank shall not be liable for damages of any kind arising out of or in connection with the c2it service or the c2it web site. 5. Citibank reserves the right to amend the terms of this c2it Agreement at any time, with or without prior notice to you. "
This is nice. I promise to do what you havent yet thought of, even if you never tell me you thought of it. Yup, just like the others. Bill Funk bfunk1 on Ebay
Stick to money orders.
Response:
5. Citibank reserves the right to amend the terms of this c2it Agreement at any time, with or without prior notice to you. " Yup, just like the others. Bill Funk
Stay away from them – read Bill’s post – too many hooks. John
Response:
5. Citibank reserves the right to amend the terms of this c2it Agreement at any time, with or without prior notice to you. " Yup, just like the others. Bill Funk Stay away from them – read Bill’s post – too many hooks. John
I wasn’t really trying to say there are too many hooks, but that they aren’t different from the others like services to any real degree. These services serve a purpose. My experiences (and not just with PayPal) show that if the user of these services is careful and honest, problems are kept to an absolute minimum (which obviously doesn’t mean there will be no problems). However, no matter which service, or bank, or any other financial institution yiou choose to use, there is always the threat of fraudulant actions by other people. Credit Card providers, in order to maximize their user base, have decided to underwrite insurance against that threat with funds provided by the users in the form of fees and interest payments. PayPal (and other like services) have instead required that their users hold the services blameless in case such threats become reality. They also require their users to hold the services blameless if someone (anyone, even their own people) makes an honest mistake. (Note, fraud is NOT covered by this disclaimer.) This is to say that we live in a world where the customer actually believes that, since he’s always right, should be kowtowed to by any business, and the businesses, in self defence, must very clearly outline their, and their users’, responsibilities and rights. When a new catagory of service comes along, like, for example, PayPal, new ground is being broken. Changes in the terms the service uses are to be expected. Sometimes these changes give to the user, sometimes they take away. As I’ve said many times, complaining is easy. Seeing *why* the changes are made is often not easy. Simply complaining that the changes were made to screw the user is the ultimate simplicity, and is evidence of a lack of thought. Has PayPal made mistakes? Of course. So did Henry Ford. So have I, and everyone else here. If anyone here were accused of the kind of blatent disregard for others that PayPal has been accused of, there would be hell to pay. If someone decides to not use PayPal, that’s fine. I don’t use GM products. But I don’t take every opportunity to blast GM, either. Doing that to PayPal is only showing a lack of an ability to understand business. Which is really understandable, since so few people ever get the opportunity to partake in the business of running a business. But, the lack of understanding is no excuse for complaining about that which is not understood. Bill Funk bfunk1 on Ebay
Response:
I would stay away from Citibank at all costs possible. They continually put me on a telemarketing list, trying to get me to sign up for a credit card. I get calls several times a week about this. I’m going to have to engage legal threats now to make them stop. Also, there was a deal a while back where Citibank promised people free Palm III PDA’s for signing up with a deposit to their online banking service. Well to make a long story short, many people never got their Palms, got the run-around from incompetent employees, and they dissolved the online banking service shortly after, with many of these folks never having seen their original deposit money back. This all makes Paypal suddenly look so much better. says… – Hide quoted text — Show quoted text -Citibank the worlds largest bank has just started a similar service. They only charge $2 per transaction and it’s free for the first three months. Plus you get $10 for the first time you use it. Check it out and lets hear some comments. They can send Paypal and Billpoint down the tubes real fast with their credibility and assets. https://www.c2it.com/C2IT/aoltc_off.jsp
Response:
Honestly, can you ever remember a time when a bank was polite, helpful or considerate to you?
Actually I can Bank of America has been great. Wells Fargo really pissed me off several times in the past 2 months so I closed both of my accounts with them and deposited my money into my Bank of America accounts. Yes, they are in business to make money, not be your buddy and thats about the only candid and honest statement you will ever get from them.
I think it all depends on the bank and how they are trained in customer service. Kimberly
Response:
If I remember right, someone posted their terms here awhile back. They weren’t pretty, including the one about the right to have their telemarketers call you on the phone! : Citibank the worlds largest bank has just started a similar service. : They only charge $2 per transaction and it’s free for the first three : months. Plus you get $10 for the first time you use it. : : Check it out and lets hear some comments. They can send Paypal and : Billpoint down the tubes real fast with their credibility and assets. : : https://www.c2it.com/C2IT/aoltc_off.jsp
Honestly, can you ever remember a time when a bank was polite, helpful or considerate to you? Yes, they are in business to make money, not be your buddy and thats about the only candid and honest statement you will ever get from them. Its to their benefit to con, coerce and badger you into incurring fees, accepting low grade service and deliver a minimum level of service. If a stock broker (Schwab maybe) would provide a service like this MAAYBE it could work. They at least hafta keep you reasonably happy. But guess what…..they DO and its a third party group called "Bill Pay" no NOT Bidpay! Tried them. Hopelessly bogged down and days behind with their transactions. Took 6 weeks to activate my acct. And made so many mistakes I wouldnt trust them with my money. Perhaps the time is just not right for a online payment service.
Response:
If I remember right, someone posted their terms here awhile back. They weren’t pretty, including the one about the right to have their telemarketers call you on the phone!
: Citibank the worlds largest bank has just started a similar service. : They only charge $2 per transaction and it’s free for the first three : months. Plus you get $10 for the first time you use it. : : Check it out and lets hear some comments. They can send Paypal and : Billpoint down the tubes real fast with their credibility and assets. : : https://www.c2it.com/C2IT/aoltc_off.jsp
Response:
Citibank the worlds largest bank has just started a similar service. They only charge $2 per transaction and it’s free for the first three months. Plus you get $10 for the first time you use it. Check it out and lets hear some comments. They can send Paypal and Billpoint down the tubes real fast with their credibility and assets. https://www.c2it.com/C2IT/aoltc_off.jsp
Response:
Citibank the worlds largest bank has just started a similar service. They only charge $2 per transaction and it’s free for the first three months. Plus you get $10 for the first time you use it. Check it out and lets hear some comments. They can send Paypal and Billpoint down the tubes real fast with their credibility and assets. https://www.c2it.com/C2IT/aoltc_off.jsp
A problem area for many PP detractors has been the question of whether or nt PP can access your bank account. Soooo… "6. If you list a Non-Credit Account, you will be asked to provide Citibank with a separate authorization to access such Non-Credit Account in accordance with our instructions. " "10. If the recipient is not a member of c2it, , he will be invited to enroll in c2it when he responds to the e-mail informing him that you have sent money to him. In order to pick up the money that you have sent ("Pick Up Cash"), the recipient must be a member of c2it or a member of c2it.com. " "2. You agree that you may not submit Send Cash requests totaling more than $500 per day via c2it. You also agree that you may not submit Send Cash requests totaling more than $1,000 over any four (4) consecutive days via c2it. 3. You agree that you may not Pick Up Cash via c2it totaling more than $1,000 per day or totaling more than $2,000 over four (4) consecutive days. " And a biggie (according to some): "10.You acknowledge that once money is picked up by a recipient it is non-reversible and non-refundable. " It looks pretty much like PP and BidPay to me. The rate structure is simpler (for now), and Citi guarantees nothing: "IV. RIGHTS/RESPONSIBILITIES OF CITIBANK 1. Citibank reserves the right to verify any of the information you provide and to check your credit history. 2. Citibank reserves the right to hold funds beyond the standard distribution periods for any transactions it deems necessary. 3. Citibank shall have the right to terminate your membership in c2it, reject or reverse any transactions you initiate, and/or restrict or condition your right to send or receive money at any time and for any reason, including but not limited to (a) providing us with inaccurate or falsified information about you or your Accounts; (b) excessive use of c2it; (c) using someone else’s c2it Membership; (d) disclosing your password to anyone; (e) using c2it (directly or indirectly) for any unlawful purpose; (f) suspicious activity; and (g) tampering, hacking, modifying or otherwise corrupting the security or functionality of c2it. 4. Citibank shall not be liable for damages of any kind arising out of or in connection with the c2it service or the c2it web site. 5. Citibank reserves the right to amend the terms of this c2it Agreement at any time, with or without prior notice to you. " Yup, just like the others. Bill Funk bfunk1 on Ebay
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