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Re: [LUG] PayPal alternatives

 

On Wed, Jan 12, 2011 at 03:20:51PM +0000, tom wrote:
> I'd be interested in any results you get. I can see no real reason
> why we cant move money around electronically for 0.1% or 1p per
> transaction (whichever is larger) safely. I'd love to have seen the
> post office set up a transactions system between accounts  which
> only ever remain in credit. Could have saved the post office and a
> million small business' Money is meant to enable commerce not steal
> from it.

Electronic transfers through the "faster payments service" is free from
some banks. In a quick google, Bank of Scotland charge 45p. Co-op is free,
HSBC is free. Northern Rock I think is also free

For the mechanism
http://www.ukpayments.org.uk/faster_payments_service/value_limits/
http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/payments/index.shtml


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