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  • BlameTheAntifaEnglish
    171·
    3 days ago

    I will start asking creators I support to switch to Ko-fi.

      • ltxrtquq@lemmy.mlEnglish
        2·
        2 days ago

        Zelle (/zɛl/) is an American digital payments network run by a private financial services company owned by Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.

        https://en.wikipedia.org/wiki/Zelle

        I don’t know how much of an improvement that would really be in the long-term

          • ltxrtquq@lemmy.mlEnglish
            11·
            2 days ago

            I don’t know big American banks to be very consumer friendly, and

            There is currently no fee or charge on the transaction to users.[1] Instead, participating banking institutions are charged a fee per transaction.[4]

            This part tells me that your individual bank probably isn’t a huge fan of it, and there’s no guarantee that it won’t change in the future. And finally,

            The Zelle service has received negative publicity due to fraud incidents where bank customers’ accounts were compromised through social engineering tactics. In these cases, fraudsters set up Zelle accounts in the victims’ names and used them to transfer funds out of the victims’ accounts, often leaving the victims with limited practical or legal options for recovery.

            If there is a problem with the service, I’m not sure how helpful Zelle would be in fixing it.

            • artyom@piefed.socialEnglish
              11·
              2 days ago

              I don’t know big American banks to be very consumer friendly

              They’re not supposed to be. The thing is, in this case, the consumers’ interest is aligned with the banks, and against companies like PayPal/Venmo, Cash App, Patreon, credit card companies, and a hundred other payment processors who are all trying to take a relatively large portion of the transaction simply because they can.

              This part tells me that your individual bank probably isn’t a huge fan of it

              It was created by the banks, so yes, they definitely are.

              The Zelle service has received negative publicity

              Zelle functions like cash, ACH, or wire transfer. Similarly, it has no protections like cash. There is no intermediary, which means no one to collect fees, but also no one to protect you in the case that you mistakenly give your money to the wrong person. It’s up to you to ensure that you’re sending your money to the right place.

              • 👏 slowclap@social.smplfi.com
                0·
                2 days ago

                @artyom as someone who is trying hard to build a better way to support people. The payment processor math (Stripe) is absolutely brutal. I wanted a much lower overhead than I ended up with, but most of what I do have, I never see!

                It’s important to me to not try and mask this stuff as an extra charge or fee and keep things transparent as possible. I wish there was a better way.

                • artyom@piefed.socialEnglish
                  1·
                  2 days ago

                  Sorry, I don’t understand what you’re trying to say. Stripe “math” is brutal? What does that mean?

                  Zelle has no overhead and no extra charges or fees, its completely free. That’s why I recommend it.

                  • 👏 slowclap@social.smplfi.com
                    0·
                    2 days ago

                    @artyom Stripe, the payment processor that most of these platforms (including https://slowcl.app/) use charges both percent and flat fee on every transaction, and depending on how you set up your payout model, more on payouts. Zelle can’t be used to replace it unfortunately.