Thread: RefPay Feedback
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  #23 (permalink)  
Old Thu Nov 15, 2012, 05:24pm
BktBallRef BktBallRef is offline
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Quote:
Originally Posted by fiasco View Post
Actually it is "like" a bank account, as in it has similar features. It is not actually a bank account, although I doubt anyone here was confused about that fact.
Maybe you didn't read what I wrote.

It is NOT basically like a bank account in that it is not federally insure like money in a bank is. If they were to go under (bankrupt) and you had money still in your account, you're pretty much screwed. If some unscrupulous person in the company stole all the meny and flew to some far away country, again you're screwed.

BTW, it's also not basically like a bank account because you can't write checks on it, setup a bill pay system with it, nor can you draw any interest from the money.

The only features it has similiar to a bank is that you can transfer money out or have it placed on a prepaid MC. I believe my cons outnumber your pros 4 to 2.

No, it is not basically like a bank account. bainsey asked what are your thoughts on the service? Whether you agree with me or not, these are the things IO learned when we inquired about it. Posters who are not familiar with the service need to know these things before they make a decision regarding it's use.
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Last edited by BktBallRef; Thu Nov 15, 2012 at 09:20pm.
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