Amazon Payments

[JSS3]

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@I_need_720 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Closingracer99 wrote:

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@Anonymous wrote:

For those that use Amazon Payments to meet minimum spend, or to boost rewards:   they sent out an annual notice today, and if, like me, you didn't read it carefully, you may have missed this:

Our updated User Agreement revises certain terms (including, among other things, the elimination of person-to-person payments).  Our new User Agreement will become effective on October 13, 2014, which is more than 30 days from when we first posted our updated User Agreement.  By continuing to use our services after October 13, 2014, you are agreeing to be bound by the terms and conditions of our new User Agreement.

So starting Oct 13, you will no longer be able to send payments to an individual.  Make the  most of early Oct!

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That is probably direct response to MS no?

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I wouldn't doubt it one bit. There'd be no other reason to eliminate this feature that I can see.

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The latest official word from the mods is that MS can be discussed but not endorsed.   So let me state "Never do manufactured spending!"

Amazon gave a stupid reason:

Why is Amazon WebPay being shut down?

We are not addressing a customer pain point particularly better than anyone else. We've learned a great deal about how and when customers want to send money and will look for ways to use these lessons in the future.

So they weren't making any money from it, and my guess is that most people used it just for minimum spend/MS (although pretty useless for MS) rather than also using it to pay merchants, where Amazon could collect fees.

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They are more than likely closing this fucntionality as a means to mitigate the potential for money laundering which cost a financial services buisness significantly in reputational risk, regulatory risk and fines.

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Doesn't the $1000/month cap already do this? 

[I_need_720]

You would think.  But things are tightening up all around the industry in regards to anti-money laundering.  For instance my Dad lives in New York and I live in Texas - I use to be able (till this past March) go to a Chase branch and deposit a say $200-$300 in cash into his account via deposit slip at the Teller window.  They cut that out completely.

[Closingracer99]

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@I_need_720 wrote:

You would think.  But things are tightening up all around the industry in regards to anti-money laundering.  For instance my Dad lives in New York and I live in Texas - I use to be able (till this past March) go to a Chase branch and deposit a say $200-$300 in cash into his account via deposit slip at the Teller window.  They cut that out completely.

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Off topic but I would suggest Paypal but i Dislike using them but Google wallet which is easy to use. Google wallet has no fees if you use bank account transfers and instantly transfers the money to the other users account usually but can be pending. Takes about 2-5 days to then transfer to a bank account. 

[JSS3]

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@I_need_720 wrote:

You would think.  But things are tightening up all around the industry in regards to anti-money laundering.  For instance my Dad lives in New York and I live in Texas - I use to be able (till this past March) go to a Chase branch and deposit a say $200-$300 in cash into his account via deposit slip at the Teller window.  They cut that out completely.

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Same thing recently happened to my sister with her Chase bank. One of the reasons I appreciated Amazon Payments. 

[JSS3]

Anyone ever send a $1000 payment at once and ran into troubles? Since it'll be my last time, I want to go out with a bang, but don't want anything being placed on hold.  Should I break it up?

[Anonymous]

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@JSS3 wrote:

Anyone ever send a $1000 payment at once and ran into troubles? Since it'll be my last time, I want to go out with a bang, but don't want anything being placed on hold.  Should I break it up?

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WAIT!  This shouldn't be your last time, that is next month.  Don't be a premature banger... we have enough of those.  Think about baseball and wait until next month.

[JSS3]

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@Anonymous wrote:

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@JSS3 wrote:

Anyone ever send a $1000 payment at once and ran into troubles? Since it'll be my last time, I want to go out with a bang, but don't want anything being placed on hold.  Should I break it up?

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WAIT!  This shouldn't be your last time, that is next month.  Don't be a premature banger... we have enough of those.  Think about baseball and wait until next month.

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Well, if I did it now and next month I could get two in before it's an official wrap! My post was actually referring to when I do it, it'd then be my last time(next month). 

Have you ever sent $1000 at once? I know paypal is funny about that and holds it for a day.

[Anonymous]

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@JSS3 wrote:

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@Anonymous wrote:

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@JSS3 wrote:

Anyone ever send a $1000 payment at once and ran into troubles? Since it'll be my last time, I want to go out with a bang, but don't want anything being placed on hold.  Should I break it up?

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WAIT!  This shouldn't be your last time, that is next month.  Don't be a premature banger... we have enough of those.  Think about baseball and wait until next month.

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Well, if I did it now and next month I could get two in before it's an official wrap! My post was actually referring to when I do it, it'd then be my last time(next month). 

Have you ever sent $1000 at once? I know paypal is funny about that and holds it for a day.

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Sending $1000 at once should be no problem.  I'm cashing out Amex Gift cards doing that.

[JSS3]

This really is a sad day. Moment of silence please. RIP fee-free cash advances. 

[heyarrnold]

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@JSS3 wrote:

Anyone ever send a $1000 payment at once and ran into troubles? Since it'll be my last time, I want to go out with a bang, but don't want anything being placed on hold.  Should I break it up?

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I send 3k each month lol. No problem! (2 AU's)