[Theforum] community vs. corporations (was: funding options)

Elfur Logadottir elfur at elfur.is
Sun May 26 19:33:00 CDT 2002


From: "Marlene Bruce" <marlene at members.evolt.org>

| Forgive me for prying into your personal finances, but does this mean
| you don't have a bank account? One doesn't need a credit card to use
| PayPal. I only ask because it raises an issue I hadn't previously
| considered: How will people without bank accounts give us gifts? We
| can't expect people to pay for a money order if they're only making a
| small donation.

this got me thinking ... aren't you guys able to deposit money into other
people's accounts ... or is that a money order? Can't you walk in from the
street with $20 and put it onto john's account? or do you have to pay fee
for that deposit? where I come from 'money order' means transfering between
countries, not banks.

what about internet banking? aren't there accounts with lower/none fees if
you do it yourself via the internet?

| Additionally, PayPal only lets you specify money in US dollars. I
| wonder how they convert currency if the sender is using a non-US
| credit card or bank account?

with the exception of maybe UK you're not sending anything but US dollars,
the conversion happens on the local credit card. and the conversion rate
differs between credit card types.

anyways, i know a lot about finance (it's my major, and my day-to-day job),
but most of the banking knowledge is within the icelandic banking system.
and no, i'm not gonna challenge marlene for the job, but i'll help her any
way i can.

thanks
elfur




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