nefish
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posted on June 13, 2001 11:06:46 AM new
I am really kind of excited about the Citibank C2it option!
I just signed up this morning, and I have to say that it looks really good! I am mostly a seller, and the obvious benefit of accepting it as a payment option in my auctions (no fees for the seller!) are just great!
Secondly, I also do a lot of buying. Most of the things I buy are well under $50. That means I will be able to buy with my credit card for only a minimal 50 cent fee, which doesn't really bother me since it costs more than that to purchase a money order and mail it. I wonder if other buyers will see it this way? Only 50 cents!?!?!?!? Or will buyers balk at paying that after getting spoiled with PayPal's "free to the buyer" methods...
Now I just have to decide if I am willing to be gutsy and remove PayPal as an option in my auctions. Sooooooo many of my customers use it, that I am scared I will lose business. But C2it just looks like a great option, and I hope that more sellers start using it. Do you think it will catch on with the buyers?
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ExecutiveGirl
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posted on June 13, 2001 11:12:33 AM new
I am new to C2it also and have no complaints yet... but I believe that if you signed up before 5/30 that you get 3 months free. After that, you do pay for every payment you receive. I think it's 1%, or 50¢ minimum. If you signed up after 5/30, then you only get 1 month free.
I also thought that buyers didn't have to pay anything to use it...
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nefish
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posted on June 13, 2001 11:14:36 AM new
Hi EG! Someone can correct me, but I think you have that backward - it's free for the seller! I could be wrong (wouldn't be the first time), but I'm quite sure the buyer pays...
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ExecutiveGirl
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posted on June 13, 2001 11:22:36 AM new
Hi Nefish! I think you are right... I just checked out the site and see where it says the buyer pays the fees.
I guess when I heard the word "fees" I automatically assumed it was the sellers getting stuck with them as usual! 
Anyways, C2IT is looking even better now!
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nefish
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posted on June 13, 2001 11:26:08 AM new
I just double-checked too - good news for us as sellers!
One thing I did read made me a little nervous, though. Somewhere on the C2It site it said there are no fees for receiving money at this time. Hmmm, are they gonna' pull a PayPal on us later? Wouldn't surprise me - I think I'm getting used to being ripped off at every turn...
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ExecutiveGirl
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posted on June 13, 2001 11:29:41 AM new
Well, at least if they say "at this time" we can expect to be charged at some point. Unlike Paypal - with their "always free!" scam!
I've heard good things about C2it so I hope it takes off really well. Would love to see Paypal become non-existant
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nefish
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posted on June 13, 2001 11:31:54 AM new
EG - I know you don't take PayPal  so my question for you is - how do the majority of your customers pay? (If you don't mind the nosy question...)
I'm still working up my courage to remove the PayPal option...
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ExecutiveGirl
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posted on June 13, 2001 11:39:33 AM new
Nefish - I'd rather take magic beans than Paypal! LOL!
Seriously though, 90% of my customers pay with Billpoint. The rest in MO's, or Cash (even though I try to discourage them from sending cash), and every once in a while I'll get a payment from Achex, Ecount and PayDirect.
I used to accept Western Union Money Zap, until they pulled a "Paypal" - they said at the beginning that when they would start charging, they were going to charge the BUYER. Well, when the time came, they decided to start charging the SELLER instead. If they're going to charge (and it's a reasonable amount) I don't have a problem with it. But don't lie about it once we all get hooked!
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nefish
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posted on June 13, 2001 11:57:33 AM new
Thanks for answering! I have not signed up for Billpoint because it seemed more expensive than PayPal. Maybe it isn't any more with the latest "Simplification" (ha ha) of PayPal's fee structure. I also never understood the "daily sweep" concept - at the end of every day Billpoint takes all your payment money and deposits it into your bank account? Plus they charge you for it? It seems like a lot of deposits to keep track of... Maybe I have this wrong, because I never did go to their site and read up on it...
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kittykittykitty
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posted on June 13, 2001 11:58:29 AM new
this is interesting. i'm really thinking over my alternatives now, didn't pay much attention to these c2it threads before.
i'll go check it out later. is it at c2it - or is that c2lt? - .com? how do you get your $ from them to your account, and do they charge for it?
kittyx3
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nefish
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posted on June 13, 2001 12:02:56 PM new
Kitty, you can have the money either deposited to the credit card you have registered with them, or you can link up a bank account, or have a check mailed to you.
I want to have my bank account linked (similar to PayPal), but you have to request forms in the mail to complete that part of the registration. It sounds like I will have to send them a voided deposit ticket to finish this part of the registration.
Otherwise, if you don't want them to know your bank account info, you could just always have the money credited to your credit card.
I do not believe there is any charge for getting your money, unless you request a check to be sent to your home. That costs $3.00.
https://www.c2it.com/
Hope this helps!
(edited to correct typo)
[ edited by nefish on Jun 13, 2001 12:04 PM ]
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DMRick
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posted on June 13, 2001 01:37:57 PM new
On another thread, someone was talking about referals..I can't see where I have anything to send to someone, so that I would get credit. Anyone see that on the page? I was a little surprised, that even though I have RR, becasue I use AOL (with my take along ISP), I had to sign up through quick cash c2it on aol.
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joanne
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posted on June 13, 2001 02:33:56 PM new
"I do not believe there is any charge for getting your money, unless you request a check to be sent to your home. That costs $3.00."
Good grief... isn't this the second time that fee has been increased in the past couple of months? Originally it was $1 to request a check and then I noticed last week it was $2... now it's $3????
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donrob2
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posted on June 13, 2001 02:54:09 PM new
There is another way to use Paypal or Billpoint without letting them have your real Bank Info. Set up an online bank account. I use Netbank and all funds go there- each day I check what deposits have come in and deposit a check on my Netbank account in my local bank.
Go to Gomez.com and there are all sorts of referrals to different online banks- and some pay you to join with a minimum opening deposit if you keep the account active for 60 days. Most are No-fee checking, free checks, too.
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patscouch
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posted on June 13, 2001 02:59:46 PM new
Once again EG is WRONG!!! when will you learn to look before you leap.
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ExecutiveGirl
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posted on June 13, 2001 03:18:00 PM new
Patscouch: What's up with you? Bashing me on all the threads today?
Yes, I made a MISTAKE. I suppose you, oh perfect one, have never made a mistake before?
I'm big enough to admit when I made a mistake, and mature enough not to let everyone else know when they've made one.
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pattaylor
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posted on June 13, 2001 05:15:12 PM new
patscouch,
This is the second time today I have found your posts to be critical and insulting of ExecutiveGirl. Please refrain from making personal comments.
Consider this a warning: To continue to post in this vein will be considered disruptive and could place your posting privileges in jeopardy.
Pat
[email protected]
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airguy
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posted on June 13, 2001 07:14:33 PM new
I was signing up until I got to the bottom and they asked for my social security number and my date of birth they kinda lost me there.
if the buyer want to send monies do they have to sign for the service and give their social? if so I would guess that it will be slow to pick up speed
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yisgood
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posted on June 14, 2001 07:06:47 AM new
Have you folks realized that C2it is owned by a REAL bank and subject to real banking laws? Therefore they require more info from both buyers and sellers and also post lots of threatening legalese on their site about how they will share your information and make your address available to their partners unless you mail them something. I spoke to them at length and they told me that this language comes from what they send when you open a credit card account. You do NOT have to mail them anything. Just check off the boxes on the sign up that say "check here if you do not want your information shared," "Check here if you do not want to receive offers" etc.
At the moment, the fees are 1% to the buyer, no matter what credit card was used. This is in response to a Mastercard request that there not be different fees for Citibank users vs. other cardholders. Expect this to be temporary. There is a $10 bonus when the first payment is made. Sellers are not liable if a fraudulent credit card is used. Sellers will only be liable if seller fraud is indicated (item is not received and seller can't show shipping). So the protection is better than any other credit card service, even a direct merchant account.
Will buyers complain about paying the fees? At 1%, it will be cheaper than sending a money order. The $10 bonus covers the first $1000 of payments, not to mention the first month free. Any buyer who complains about this is someone I don't want to deal with. But sellers can always offer a 1% discount for using it. Still cheaper and safer than any other method.
I have received at least 20 payments so far and it's been very smooth. My buyers appreciated the $10 bonus.
http://www.ygoodman.com
[email protected]
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uaru
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posted on June 14, 2001 07:43:13 AM new
yisgood Sellers are not liable if a fraudulent credit card is used.
Really? Where is that little tidbit of info available?
yisgood You do NOT have to mail them anything. Just check off the boxes on the sign up that say "check here if you do not want your information shared," "Check here if you do not want to receive offers" etc.
What browser are you using? My browsers all tell me I have to mail the form in.
If you want to limit disclosures of personal information about you as described in the Privacy Notice please print this page and check the box or boxes you wish to select to indicate your privacy choices. Then, mail this form with your selections to the address listed below.
[ edited by uaru on Jun 14, 2001 08:03 AM ]
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yisgood
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posted on June 14, 2001 08:24:18 AM new
Uaru: Have you tried calling them? I (and others) have spoken to them at length, asked specific questions and that is what we were told. Other than the original confirmation letter, an email about the referral bonus and a recent email about some changes in service, I have not received any other contact from C2it. And I have not seen a single post about a charge back.
Is this a new method of working the Net? If there are 100 posts about problems with a service, they must be doing things right and if there are no complaints, they must be doing things wrong?
http://www.ygoodman.com
[email protected]
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lp12
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posted on June 14, 2001 09:32:18 AM new
HI,
I just signed up for the C2it, and It really looks good to me also,my question Is can anyone tell me (Is there a Link to Put There Logo on Automaticaly (I know I spelled It wrong!!)I tried using Copy and Paste and It worked for One Auction and the Rest of them just show a Red X ( Help!!)
Thanks & Have a Great Day!
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