Aonxe Gaming, Technology, Reviews, and Guides

Finally, an alternative to paypal.

While reading some blogs on money, I came across this article about how paypal is so profitable. I found out some things that made me see exactly how greedy they are. First, all of the money that runs through paypal and eBay is stored in a bank account, a bank account that they get interest on, which is probably an enormous amount. Secondly, the fees. They take fees on top of taking all the interest that they make off of your money, greedy isn’t it? This isn’t a paypal bashing post so I should stop before I get going on their total lack of seller protection.

Now it’s time to get back on track. This post is supposed to be about this new online money transfer service I found called Revolution Money Exchange or RME as I will refer to it throughout this article. RME is a service like paypal in many aspects, but it is so much different from paypal at the same time.

Firstly, RME is insured by the FDIC, which is a government agency that insures all your money up to $100,000 if I can remember my basic economics. They have “ Account issued by First Bank & Trust, Brookings, SD, Member FDIC and part of the Fishback Financial Corporation.” posted on their website. The second thing, they require your SSN. Some people won’t use this service because of this and honestly, so what. Most of those people are your scammers and trouble makers. To be a responsible financial institution, you have to get the SSN from all of your members so that you can hold them accountable for their actions. Thirdly, and the last point I will make in this article, RME was started by some successful and highly respected businessmen, like the former AOL chairmen Steve Caste (Read the Washington post article.) The board also will include former Treasury Secretary Lawrence Summers, former Mastercard CEO Russell Hogg, and former Charles Schwab chief executive David Potruck, the company plans to announce Monday.

You can create a Revolution money exchange account by going to their website and creating one, it takes 3 minutes!